Brief:
- Fiverr, the online marketplace for freelance services, today is opening the Influencer Store to help social media personalities build and maintain their digital presence, per an announcement shared with Mobile Marketer. The specialized vertical is the company's fifth industry store after creating hubs for gaming, e-commerce, architecture and politics.
- Fiverr's Influencer Store has four sub-stores focused on websites and blogging, YouTube, Instagram and Facebook to help influencers with each of these online platforms. The services available to influencers include help with video editing, thumbnail graphics and channel art, among other categories.
- In addition to opening the Influencer Store, Fiverr said it now has 300 categories in its "service-as-a-product" catalog. In the past six months, it created categories for building information modeling, brand style guides, virtual staging, game development, podcast marketing and local photography, among others.
Insight:
Fiverr's introduction of its Influencer Store comes as growth in influencer marketing has led many social media personalities to seek out expertise from freelancers who offer a range of services that include copywriting, graphic design, GIF production and video editing. Influencer marketing is becoming more sophisticated, raising expectations that creators will produce high-quality videos, graphics and photos that snag user attention on popular influencer platforms like YouTube, Instagram and Facebook.
With more than half (54%) of Gen Z and millennials saying they're interested in becoming influencers, per a Morning Consult survey, demand for support services like Fiverr's likely will grow. Influencers don't have to be big-name celebrities like Kylie Jenner to grow a following and find brand endorsements. The microinfluencer economy has been steadily growing as brands seek to collaborate with creators who have a more dedicated following among people who appreciate their authenticity. Microinfluencers comprise 40% of brands' annual influencer spending versus 28% for celebrity influencers, per a March survey by Rakuten Marketing.
The influencer marketing industry is forecast to grow to $15 billion by 2022, according to Business Insider, as brands collaborate with social media personalities who attract a large online following. Influencers can help brands to cut through the traditional ad clutter, although it's important to work with people whose opinions are trusted by viewers and who disclose when they're being paid to endorse a product or service.
