FameBit is a self-described influencer marketing marketplace. For those unaware, influencer marketing is the process of getting people with a large social media following to showcase your brand or product to their followers. FameBit acts as the middleman between content creators looking for sponsorship opportunities and businesses who want to leverage those creators for more exposure. The platform is simple to use, and the only additional costs are a 10% service fee that is charged differently depending on whether you’re a brand or a creator.
- A VIP service is available (for a steep price) where a team of FameBit’s experts handle all content strategy
- A point system is available for creators where they get 1 point per dollar they are paid, which they can redeem for better equipment and other goodies
- A bidding system is available where brands release a campaign and creators bid on how much they would accept for completing it, resulting in competitive pricing and cheaper videos for brands
- Campaign statistics are available, which include cost-per-engagement, clicks, and click-through-rate
- Excellent way to reach the younger generation, who watch the most YouTube
- All creators are required by FameBit to disclose the sponsorship, removing the risk of a costly FTC violation
- Brands can pay as little as $50 per video
- Payment is held securely within FameBit until content is approved, so there is no danger of someone running off with your money
- Free to join
- Despite the transparency of the platform, many people feel that influencer marketing is shady
- There is a 10% service fee to whatever the costs of the project are
- FameBit decides what marketing campaigns are allowed on their platform, so there is always a chance of rejection
- Unavailable in many countries, including China
FameBit gives any brand the opportunity to utilize influencer marketing, no matter how small their budget. It is owned by YouTube itself, which grants legitimacy to a once-underground industry. Being an industry in its infancy, influencer marketing has seen its share of growing pains. However, YouTube is growing at an astronomical rate, and some believe it will soon overtake television itself. FameBit gives brands an opportunity to take advantage of the cutting edge of advertising.