"While one of our friends was taking a picture of the food in a restaurant before we ate, we found that if we published the picture of the food, we were actually promoting the food for that restaurant," said Jonathan Eg, co-founder and CEO of the influencers Marketing platform Partipost.
"That made us wonder if we could get money for it," he added in an interview with Vulcan Post.
Word of mouth is a tried and tested method to get the best ROI for a business.
By sharing a food photo with a message, we are essentially "influencing" our family and friends with our perspectives. In other words, if the food is recommended by someone you know and trust, be more likely to try it.
This prompted the University of Illinois electrical engineering graduate to start Partipost in 2016 with co-founders Ben Ramli and Tony Jen, realizing there was market potential for it.
In the truest sense of the word, anyone can be an influencing factor
The influencer marketing industry is well on its way to reaching up to S $ 15 billion (S $ 20 billion) in value by 2022, according to Business Insider Intelligence estimates of S $ 8 billion in 2019.
Companies are increasing their spending on social media campaigns and working with more "micro-influencers".
Put simply, “micro-influencers” are normal people with a smaller audience, but who focus on a specific niche or area.
You don't have to be Kim Kardashian West or Kylie Jenner with massive followers to be an influence. Anyone with a social media profile can register for influencer campaigns using the Partipost app, which can be downloaded for free.
The main difference from Partipost is that we believe anyone can be an influencer. Even if you have 200 followers, you can be one.
We want to create a new market that we believe will be the future – anyone can post on social media, write a review or provide feedback and get paid for it.
– Jonathan Eg, Partipost co-founder and CEO
“We want everyone to be able to monetize their own data and influence, and not just allow the big tech companies to do so. I think most of the other influencer marketing companies or competitors focus more on the bigger influencers, ”added the 31-year-old.
Jonathan Eg / Photo credit: Partipost
Curious, I downloaded the app to see what the hype is about. At a quick glance, I found out that I can earn anywhere from S $ 2 to S $ 100 for a campaign.
Basically, you select an ongoing campaign and send an original post. This could be an Instagram post or video, or any form of content specified by the brand or the campaign owner.
Before doing this, you need to make sure that you meet the requirements like minimum number of followers, gender, etc.
Partipost App / Photo credits: Partipost
Once your post is approved by the brand, you can share your post with your followers on social media. The more engagement you get, the more you earn.
In addition, you can withdraw your earnings from the app to your bank account with a single touch of a button.
"We believe this type of marketing will become mainstream for the next five to ten years and almost everyone will take part in becoming an influencer promoting things they are really and really passionate about," said Jonathan.
250K + influencers and 900+ brands within 2 years
Since the mobile app was launched in 2018, over 250,000 influencers and more than 900 brands, including Kellog & # 39; s, Giga !, Pokka, Pepsi, ShopBack and Chope, have jumped onto the platform.
Partipost ran more than 2,500 social media marketing campaigns for these brands in the past year.
Partipost App / Photo credits: Partipost
F&B customer A-One saw a 40 percent increase in their use of promo code. Meanwhile, restaurant reservation booking platform Chope completed a 500 Instagram story campaign within 24 hours.
The popular beverage brand Yakult launched the Yakult Ace Light Family Pack in March. With the help of Partipost, #yakultacelight was the most visited hashtag in Singapore for this month according to Affable.ai.
“I believe Covid-19 has accelerated the digitization of many industries and sectors. For influencer marketing in general, we've seen an increase in new brands that were less afraid to try something new like a platform like ours, ”said Jonathan.
SEA expansion with $ 3.5 million seed round
Just last month, Partipost raised $ 3.5 million in a seed funding round.
The round was chaired by SPH Ventures, the investment arm of Singapore Press Holdings, with the participation of Quest Ventures and other investors.
“My previous work experience in a mutual fund helped me understand how companies look for donations. I understand the motivation as an investor, ”said Jonathan.
Partipost-Team / Photo credits: Partipost
The funds will be used to grow the current Partipost, Singapore, Indonesia and Taiwan markets, as well as to expand into high-use social media markets such as Malaysia, the Philippines and Vietnam.
"We want to expand to Malaysia and the Philippines later in 2020 and to Vietnam sometime in 2021. We hope to have a strong presence in Southeast Asia."
"In addition to our strategic business relationships, the launches in these three markets are the next natural step in our expansion plans in Southeast Asia," he added.
What influencer marketing will look like in 2020 and beyond
Based on Meltwater's report “Beyond Skin Deep” from 2019, Instagram is the most popular channel for influencers, followed by Twitter and YouTube in Indonesia, Singapore, Malaysia and the Philippines.
This is mainly because visual platforms like Instagram are a way for users to visually express themselves to a wider audience.
In addition, social media is driving the e-commerce market, which uses platforms for product research, brand loyalty, and online shopping.
According to Influencer Marketing Hub, almost four out of five brands (79 percent) predominantly type on Instagram for influencer campaigns, compared to Facebook (46 percent), YouTube (36 percent), Twitter (24 percent) and LinkedIn (12 percent).
Partipost comes in and creates a new industry where everyone can influence and connect them with brands.
"I expect influencer marketing to become even more mainstream as a channel and potentially more performance-driven in terms of ROI for brands," said Jonathan.
Selected image source: Partipost