Narrative, the earned-led subsidiary of We Are Social, has launched an innovative initiative known as the “Board of Influence” to navigate the evolving creator landscape better. This new board, composed of influential social media creators, is designed to function similarly to a corporate board of directors, providing strategic guidance to Narrative on various aspects of influencer marketing. These include campaign development, audience targeting, and pay negotiations, reflecting the agency’s commitment to adapting to the needs and dynamics of the creator economy.
As part of a broader brand refresh, the Board of Influence underscores Narrative’s focus on experiential, event PR, and creator marketing capabilities. Gigi Ouf, VP of Celebrity and Influencer Marketing and Strategic Partnerships at Narrative, emphasized that the board will offer clients valuable insights directly from creators, helping them understand the expectations and perspectives of influencers beyond formal business negotiations.
“Creators want to have more of a voice in these partnerships,” Ouf stated. “We came up with the idea of providing our clients with insights from creators, letting them directly be open about what they’re looking for in partnerships.”
The Board of Influence, which began its first term in June and will run until January, is part of Narrative’s ongoing efforts to keep pace with the rapidly changing influencer marketing landscape. The board will be refreshed annually, with members required to attend meetings and engage with the press. Although the initiative is currently focused on the U.S. market, there are plans to expand it globally in the future.
While the board has not yet been formally introduced to clients, Narrative has already begun sharing its insights with prominent brands such as Adidas, McDonald’s, and YouTube. This initiative comes at a pivotal moment for the creator economy, which Goldman Sachs projects will reach a value of half a trillion dollars by 2025. Influencer marketing budgets are expected to grow by nearly 46% year-over-year in 2024, reaching $24 billion, according to Influencer Marketing Hub.
“Creator marketing is at this exciting turning point where consumers are ready for something fresh and creators are also really eager for a new wave of creativity,” Ouf observed. “There’s sponsored content and TikTok Shop fatigue. Meanwhile, creators are in Super Bowl ads and are stepping off platforms to do real-life executions and partnerships.”
Narrative’s rebrand and the launch of the Board of Influence are informed by a survey conducted with Storyclash, revealing that 90% of creators prioritize long-term collaborations with brands. However, the survey also highlighted ongoing challenges within the creator economy, including racial inequities. A report by SevenSix Agency found that creators with dark skin earn 45% less than those with light skin, and Black creators generally earn 34% less than white creators.
“Now more than ever, creators are their own businesses,” Ouf remarked. “They have managers and agents and they’re represented by big companies. These agents and managers are born and bred to negotiate, so it’s really important for us to understand creators’ worth and pay them fairly while ensuring we’re getting what we need from them.”
The Board of Influence aims to provide a platform for creators to voice their needs and preferences, ensuring fair compensation and fostering more effective collaborations between brands and creators. By directly involving influencers in strategic discussions, Narrative hopes to bridge the gap between creators and brands, leading to more meaningful and equitable partnerships.
