It’s hard to argue with that last part. Over 2.5 million posts on Instagram are tagged as an “#ad.” So why would I argue that influencers are becoming more important?

Social Media Prioritizes Engagement

Facebook’s latest algorithm update heavily favors engagement. True influencers get plenty of that. Sure, the exec quoted above is right that followers are meaningless, but engagement is essential. As long as the influencers can still engage their audiences—the main reason people turned to influencer marketing in the first place—then they’ll be worth it. As Facebook cranks up the importance of fast, early engagement on Facebook posts, the importance of influencers who can deliver that rises just as fast.

Influencers Are the Quickest Path to a Bigger Audience

Don’t take my word for it. Here’s Cameron Craig, who did PR for Apple for a decade, and who recently wrote an article for Harvard Business Review about what he learned: As the content glut gets worse, paths to the best engagement become more essential. Which means social media influencer marketing might be coming back into vogue. Focus on cultivating close relationships with the top five-to-ten media influencers who cover your field. Again, don’t over-pitch them. Give them feedback on what you are hearing about their articles from colleagues and partners in the industry. Comment and start discussions on their stories on their Twitter and LinkedIn feeds. When you have an announcement coming up, consider offering them an exclusive angle.”