Famebit Influencer Platform Review
In 2013, influencer marketing was a relatively new, but rapidly growing area in marketing. Companies quickly discovered the sheer impact that influencers had on their thousands of social media followers/subscribers. This is around the same time when several influencer marketing platforms started appearing, including Famebit.
Famebit was launched in 2013, with the aim of connecting brands to influencers on one easy-to-use platform. While it’s typically used by YouTubers, content creators on Instagram, Facebook, Tumblr, and Twitter can also find sponsored work with Famebit.
The platform provides an online marketing space where brands can post about various sponsorship gigs they have available to influencers. Influencers can then log into the interface and can read more about these paid sponsorships, and negotiate their price.
Famebit is now owned and operated by Google. In 2016, Google acquired it for a reported $36 million. Now, the platform has built a community of over 65,000 influencers across different verticals.
While Famebit seems to be a pretty comprehensive influencer marketplace for YouTubers, it can be a tough platform to navigate. Below we are going to go over Famebit’s key features, how it works, pricing, and our honest thoughts on the platform.
Famebit strives to provide a win-win environment for content creators and brands. It provides an easy and effective way for content creators to choose from a variety of opportunities with different brands, across several industries.
Famebit also prides itself on being fully transparent with influencers. The platform is free to use, there are no contracts, and influencers do not have to give up their rights to their social media accounts. In addition, it helps to mitigate the relationship between influencers and brands by ensuring the influencer hiring process goes smoothly.
Famebit is also beneficial for agencies and brands that are looking for their next brand ambassadors. Several large brands, like Adidas, Sony, and Canon, are already using the platform.
Prior to hiring an influencer, brands can set their desired budgets, starting at just $100 per campaigns. Additionally, they can review proposals from content creators, view their profiles and audience demographics, allowing brands to select the right influencer for their campaigns. Best of all, brands and agencies can take advantage of these features for free.
Furthermore, Famebit finally released an Android app for busy, on the go influencers. The app released its 1.0 version in September 2018.
How does it work for content creators?
Getting started on Famebit is supposed to be easy enough. Firstly, you need to have at least 5000 followers on a channel/account in order to join Famebit. Once you have joined the platform, you’re free to browse the many sponsorship opportunities for either YouTube, Instagram, Twitter, of Facebook.
After you’ve found a few opportunities that have piqued your interest, you need to submit a proposal. The idea behind submitting the proposal is to entice brands to want to hire you. This is also where you’ll provide the brand with your desired fee. Content creators can choose to set expiration dates on the proposal offers as well.
Once your proposal has been reviewed by the receipting brand, you will be able to see the status of your offer on the home page.
After you’ve connected with a brand on Famebit, you can message back and forth on the message board with them.
As for Payment, Famebit has several methods. International influencers can be paid via eCheck/Local Bank Transfer, Wire Transfer, PayPal, or they can choose to hold their payments. Influencers from the United States are given several payment methods to select from. They can choose to receive payment through direct deposit, checks, PayPal, or they can also choose to hold their payments.
What do brands see when they look at your Famebit profile?
When brands look at your Famebit profile, all they see are stats that will help them understand who your audiences are, what kind of engagement your account(s) have, and how much reach you have (eg how many followers or subscribers you have on your channel). For example, here are some of the stats that Famebit pulls to showcase to brands:
- Total number of videos
- Total number of views
- Audience Age
- % of Male/Female
- Average number of views
- Audience location
- Subscriber count
Below is a screenshot of what brands see when they view your Famebit profile:
As you can see, the only information that is shared publicly on your profile is not too invasive. The data will simply help brands decide whether or not you would be a good fit as their brand ambassador.
Doesn’t use a traditional payment model like a subscription-based model. Instead, Famebit uses a model the company refers to as “The Bounty Model”, which allows Famebit to make money off the transactions that occur between influencers and brands. The company’s self-service pricing model charges both influencers and brands a 10% service fee for those connections.
For influencers, the 10% fee is only taken once their content is approved, published, and payment has been sent. The 10% will only be deducted from the brands once they have reviewed and approved influencers’ content.
Famebit also has another pricing model called their “VIP Service” for brands, where the company deducts a 30% service fee from brands. This service is targetted towards larger brands, fast-growing startups, and agencies that want to use more YouTube content. As explained by Famebit, “For a small management fee, our team of experts handles everything including, setting strategies and custom packages for content and media, curating custom talent lists, and managing execution, deliverables, and amplification of hundreds of branded videos at a time to drive meaningful results.”
Our thoughts on Famebit
Overall, the whole proposal to approval process is quite simple for influencers. Famebit informs you about the status of your proposal at every stage. You’ll know if your proposal is pending approval, has been approved, or declined.
On the downside, Famebit has no vetting process for influencers. The company’s only requirement is that content creators have 5000 followers/subscribers. This doesn’t help Famebit to rule out influencers with fake followers.
Moreover, we also noticed that, although Famebit advertises that its a marketplace for Instagram influencers, we could not connect with our Instagram account when trying to sign up. As you can see with the screenshot below, registering an Instagram account doesn’t seem possible.
FameBit’s mission is to bring creators and influencers together, and while Famebit seems to have good intentions, it does a poor job at executing. It appears as though brands have to rely on influencers to do the heavy lifting.
Famebit makes it pretty difficult for brands to find their ideal content creators. The reason being that the filters on the FameBit search function do not allow brands to easily target their ideal influencers.
The following are Famebit’s filters:
- Reach: The reach filter allows brands to search for influencers within specific ranges of followers/subscribers. The search function is a slider scale, which allows you to select any range between 1,000-100,000,000 followers or subscribers.
- Audience Gender: This is where you could choose to target a majority female or male demographic.
- Audience Age: Here you can choose various age ranges, or you can indicate a specific age.
- All Creators vs. Featured Creators
- Audience Country
- Creator’s Country
- Channel Category: This relates to influencer niche’s, eg: Health and Fitness.
This in itself is an issue. It means that brands will probably miss a lot of influencers in their search queries. With a Google-owned platform as large as Famebit, one would assume that brands would be able to search for content creators in a more effective manner. Ultimately, Famebit falls a bit short when it comes to connecting brands to influencers.
Overall, Famebit is a decent influencer marketplace for YouTubers. There is definitely some value for video creators that are looking to monetize their content. Moreover, with over 65,0000 influencers to choose from it’s a good resource for brands that are looking to use more branded YouTube content.
On the other hand, Instagram, Facebook, Tumblr, and Twitter influencers would be better off using an influencer marketplace that provides better support for these social media platforms.