With the rise of social media influencer (SMI) marketing, and the need to calculate accurate dollar value of social media coverage, it is paramount that the social media monitoring industry agree on standards for post value. While value of posts across several platforms can oftentimes be straight forward, Instagram stories present more of a challenge. In this article, we will propose a set of standards for calculating dollar value of Instagram stories in hopes that this can serve as a starting point for a much-needed industry-wide discussion.
With the swift shift towards modern media and away from traditional media, it is almost impossible for businesses to refuse change; otherwise they are risking a Kodak Moment that might threaten their existence, both in digital and physical world. Social media (SM) is now set to, if not already did, take over traditional media.
As the CEO of a media monitoring agency, when I first saw TikTok, I was convinced that it will not become an influencers marketing platform. I stand corrected of course, with egg on my face, as the Chinese app hits high records, both in reach and revenue. But the impact Tiktok left on the influencers marketing scene goes beyond its own success, as it has effectively changed the way influencers create content on other platforms, including Meta’s formidable Instagram. But where does Tiktok stand now as an influencers marketing platform? And how does it impact the business of social media monitoring and reputation management?