As influencer marketing is on the rise these days, especially on video-orientated platforms, Google’s YouTube announced on Tuesday that the company is updating its influencer market platform, FameBit. FameBit has now been rebranded as YouTube BrandConnect. YouTube describes it as a platform where brands as well as content creators can collaborate on branded content for YouTube’s platform.
Lori Sobel, BrandConnect global business head, and Henry Scott Green, YouTube BrandConnect product manager, stated in a blog post that the influencer marketing industry is expected to reach $15 billion by the year 2022. They cited data from Business Insider Intelligence report. According to Business Insider, this industry was worth $8 billion in 2019.
YouTube explained in the blog post that the company will continue to support and drive revenue to content creators. The company focuses on providing measurable campaigns for brands and reaching audiences with genuine and relevant content. They stated in the blog post that the company has developed unique and industry-first features with the company’s branded content platform to support these goals.
YouTube BrandConnect is open to content creators in the United States who have at least 25,000 subscribers. Eligible creators can assess insight-based matchmaking features. These tools lead to branded content deals. Green and Sobel stated in the blog post that the average deal size across the complete-service product has grown by more than 260% during the last two years.
With the new updates, brands will be able to tap new measurement solutions like an organic view-through conversation, influencer lift, and brand interest lift, etc. These new measurement solutions will provide brands real-time results as well as add accountability to their campaigns.
The brand interest lift tool calculates customer search behavior which results from viewing the video created by content creators. In comparison, influencer lift estimates customer sentiment on various categories including brand recall and purchase intent. It is also stated in the blog post that brands will be able to estimate the effect as well as return on investment (ROI) of influencer marketing via Google insights and tools, for the first time on Google’s YouTube.
YouTube BrandConnect will soon expand YouTube’s ad technology offerings to add an app shelf and shopping shelf. With these new technology innovations, viewers will be able to purchase products or download applications that are being discussed in the creators’ videos. They will be able to purchase products or download apps directly from the watch page.
The company plans to roll out a new media shelf which will allow viewers to purchase or rent shows and movies recommended in a video. The new media shelf will be released soon. Sobel and Green concluded the blog post by stating that the company is always looking for new ways to help content creators earn extra money. The company has introduced additional resources to allow content creators to get started creating branded content on the ‘Creator Academy.’ YouTube will continue to invest in its technology and it will continue to expand internationally to bring new experiences to brands, content creators, and fans across the globe.
The YouTube BrandConnect platform will take over from YouTube FameBit on Aug 1, 2020, and the FameBit self-service market platform will be closed on July 31.
Read next: Research Shows That YouTube Influencers Are Most-Trusted By Consumers
Lori Sobel, BrandConnect global business head, and Henry Scott Green, YouTube BrandConnect product manager, stated in a blog post that the influencer marketing industry is expected to reach $15 billion by the year 2022. They cited data from Business Insider Intelligence report. According to Business Insider, this industry was worth $8 billion in 2019.
YouTube explained in the blog post that the company will continue to support and drive revenue to content creators. The company focuses on providing measurable campaigns for brands and reaching audiences with genuine and relevant content. They stated in the blog post that the company has developed unique and industry-first features with the company’s branded content platform to support these goals.
YouTube BrandConnect is open to content creators in the United States who have at least 25,000 subscribers. Eligible creators can assess insight-based matchmaking features. These tools lead to branded content deals. Green and Sobel stated in the blog post that the average deal size across the complete-service product has grown by more than 260% during the last two years.
With the new updates, brands will be able to tap new measurement solutions like an organic view-through conversation, influencer lift, and brand interest lift, etc. These new measurement solutions will provide brands real-time results as well as add accountability to their campaigns.
The brand interest lift tool calculates customer search behavior which results from viewing the video created by content creators. In comparison, influencer lift estimates customer sentiment on various categories including brand recall and purchase intent. It is also stated in the blog post that brands will be able to estimate the effect as well as return on investment (ROI) of influencer marketing via Google insights and tools, for the first time on Google’s YouTube.
YouTube BrandConnect will soon expand YouTube’s ad technology offerings to add an app shelf and shopping shelf. With these new technology innovations, viewers will be able to purchase products or download applications that are being discussed in the creators’ videos. They will be able to purchase products or download apps directly from the watch page.
The company plans to roll out a new media shelf which will allow viewers to purchase or rent shows and movies recommended in a video. The new media shelf will be released soon. Sobel and Green concluded the blog post by stating that the company is always looking for new ways to help content creators earn extra money. The company has introduced additional resources to allow content creators to get started creating branded content on the ‘Creator Academy.’ YouTube will continue to invest in its technology and it will continue to expand internationally to bring new experiences to brands, content creators, and fans across the globe.
The YouTube BrandConnect platform will take over from YouTube FameBit on Aug 1, 2020, and the FameBit self-service market platform will be closed on July 31.
Read next: Research Shows That YouTube Influencers Are Most-Trusted By Consumers
