As part of this blog series we’d like to champion and share the stories of some of the female founders that we’ve been supporting as part of our Impact Fund.
In this article:
The Fanbytes Impact Fund
Following the social unrest that we saw in summer 2020 around the world, Fanbytes decided to launch a £100,000 fund to economically empower the black community and address inequalities in two ways:
- To provide influencer marketing support to promising black-owned start-ups
- To address the influencer pay gap – our data shows that while black influencers have a click-through-rate of 2.2x more than non-black influencers on average, they are often overlooked and underpaid.
For each successful applicant, Fanbytes awarded them an influencer campaign worth £5,000 with £2,500 worth of influencer spend. Many of the selected brands are startups with this being their first real introduction to influencer marketing. Our dedicated programme manager guides them through the process and provides them with key takeaways and best practices to use as they continue along their entrepreneurial journey.
Let’s take a look at one of our successful applicants: The Glow Pot
Meet Ofome, founder of The Glow Pot
After years of battling with eczema and other accompanying skin conditions, founder Ofome Eyanagho took matters into her own hands. In 2017 at the age of 23 she embarked on an entrepreneurial journey and started The Glow Pot. All products are 100% cruelty free and vegan friendly. The Glow Pot helps you to get the skin you deserve, the natural way.
Our skin spends 100% of its time battling the elements and adapting to its surroundings, it does all this in order to protect us and keep us safe.The Glow Pot range caters to all skin types and leaves out any harsh chemicals or ingredients.
We used a combination of small and micro influencers from the black community, some of which, like the brands, also receive guidance on how to navigate the industry and what makes great content.
Our highlights from the campaign:
- 70k+ Views
- 450+ Clicks
- 29.08% Engagement rate
What People Are Saying About The Glow Pot
How to ace instagram influencer marketing on a budget: In-feed posts
While we’re currently unable to obtain post saves data from IG reels, it was interesting to see for the post by Gabrielle, 42 people had saved the post for later after 24 hours. What this indicates to us is that influencer marketing isn’t always something that gives instant gratification in terms of conversions but is rather a long-term marketing strategy whereby consumers need to be repeatedly targeted and exposed to the brand before they make a purchase. Take this scenario as an example:
New customer is introduced to the brand by the influencer, saves the post for later and follows the brand profile. The brand then continues to post their own content and 2-3 posts later, the consumer is ready to make a purchase.
When building brand equity on social media, It’s all about building trust, and making consumers feel comfortable and at ease.
When using IG stories, a trend that we noticed in this campaign showed that clicks through to the brands profile is higher than direct clicks to the website via influencer links. What this suggests is that consumers are becoming much more savvy in doing their own research instead of just taking influencers advice. Even before considering buying or visiting the site, consumers want to determine whether or not they trust the brand and whether the products are worth their money – purely based on the brands profile alone. They then may click through to the site via the brands profile and not the influencers profile once they have made that decision.
Fanbytes recommendations include:
- Always having an up to date Instagram Shop – thereby reducing the customer journey to checkout.
- Having a distinct brand identity online.
- Keeping your feed regularly updated with content scheduled to run alongside influencer campaigns to provide additional call-to-actions and to capitalise on new traffic sent to the brand.