B2B News for Wednesday, March 16, 2022: Influencer Limits, Streaming Investments and Automotive Industry Appointment

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Social media influencers are difficult That’s not necessarily true in terms of personality, but it’s certainly true in terms of understanding the dynamics of the relationships between marketers, influencers and consumers. A new study from the Maine Business School at the University of Maine is helping to articulate the specifics of that relationships. The findings? While consumers are more likely to trust a verified account over an unverified one, the results show that social media consumers “associate verification more with celebrity than credibility.”

What does that mean? Don’t rush to provide your newly signed influencer with content that furthers your marketing agenda. If the content is inconsistent with the influencer’s brand, it is considered just as untrustworthy as posts from unverified accounts.

“The demand for verification is so great that one can buy the verified badge through a ‘black market’ made possible by third-parties. I wanted to understand why verification is so desirable and consequently, if it’s presence would produce advertising benefits. The results yield surprising and important implications because verification can harm trust. Endorser trust has been shown to influence many crucial facets, including intent to purchase. The research shines a much-needed light on a symbol that should be far more carefully considered — by both the influencer and the advertising partner,” said Jazlyn Dumas, principal investigator of the study. 

Press release: https://www.newswise.com/articles/study-finds-social-media-verification-not-enough-to-sell-products?ta=home

The study: https://onlinelibrary.wiley.com/doi/10.1002/cb.2039

Amagi, a cloud-based SaaS technology for streaming broadcast and connected TV, has won a $95 million US funding round following a 108% year-over-year growth in revenues. This investment brings Amagi’s valuation to more than $1 billion.

“This is a crucial juncture for our business as we look to hit a hyper growth trajectory by creating a winning combination of goals, processes, team structures and more,” said Baskar Subramanian, CEO and Co-founder of Amagi. “Our investors have a known history of crafting the success stories of companies with the promise of potential. We look forward to leveraging their astute understanding of the B2B SaaS landscape to successfully navigate the market intricacies and position ourselves for sustained success in the coming years.”

Press release: https://www.prnewswire.com/news-releases/leading-media-saas-company-amagi-achieves-over-100-yoy-growth-secures-95-million-investment-in-a-unicorn-round-301504065.html

The auto tech industry is seeing some new appointments. Earlier this week HGreg Group said today that Emilio B. Imbriglio, the former president and CEO of Raymond Chabot Grant Thornton’s will join the company’s board of directors in April.

“I’ve always been inspired by high-performance entrepreneurs who are committed to innovation, leading-edge projects and disrupting entire industries for the benefit of the consumer,” said Emilio Imbriglio. “I’ve seen this culture at HGreg. I’ve known the company for three decades and, over the past year, have come to gain a deep appreciation for John Hairabedian’s vision. I look forward to helping install a governance charter and Board reflexes that formally demonstrate to stakeholders HGreg’s genuine concern for sustainability, diversity, social responsibility and ethics, amongst others. I’m convinced there’s much growth and success on the road ahead, and I’m happy to be a part of it.”

Press release: https://www.hgregoire.com/newsroom

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Kate Baggott

Kate Baggott

Kate Baggott is a former Managing Editor of B2BNN. Her technology and business journalism has appeared in the Technology Review, the Globe and Mail, Canada Computes, the Vancouver Sun and the Bay Street Bull. She is the author of the short story collections Love from Planet Wine Cooler and Dry Stories. Find links to recent articles by following her on LinkedIn https://www.linkedin.com/in/kate-baggott-9a0306/