Overfunding: UK’s Marketing Agency Influencer Quickly Surpasses £100,000 on Crowdcube

influencers-1Less than a week after launching its equity crowdfunding campaign on Crowdcube, marketing agency Influencer has already surpassed its initial £100,000 funding target. The company notably connects brands with “famous individuals” (aka influencers) on social media as a way to generate buzz.

The company stated it will offer brands, products, and services a monthly subscription (estimated £19-£119 per month) and is already being used by Badoo, Happn, Uber, Lost Village Festival, Juice, Crowdmobile, and Daniel Wellington. Influencers noted that for every transaction, around 80% of the cost goes to the influencer and 20% goes to the company. Its founder, Ben Jeffries, was shortlisted for the Virgin Media Business “Voom 2016” competition and was dubbed winner of Young Start Up Talent 2016. It was revealed:

influencers-2As the world has shifted to become increasingly social media centric, consumers look at fellow consumers via social media to inform their purchasing decisions. Specifically, their favourite personalities, who are consolidating over 10,000 followers on Instagram, Facebook and Twitter. For these reasons, we believe influencer marketing to be the next big thing in advertising. Through the development of a new web application, we believe we will have the capacity to work with 100x more Influencers as we will be able to manage our Influencers through a more efficient CRM system. An increased database of Influencers will provide greater variety and choice for brands as to who they use to promote themselves. We believe this will further increase the value of our service.”

The Influencers team noted they are aiming to sign up around UK-based 250 brands and 10,000 Influencers to their service by the end of December 2017 and In 2018, they will focus on expansion to Europe, with Worldwide expansion planned to occur by 2019. The funds from the Crowdcube initiative will be used for the website, with any additional funds going towards marketing.

Influencers’ campaign is set to close at the end of November.

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