Influencer marketing is a type of digital marketing that focuses on influencing social media users, also known as influencers, who have a large following on social media and can influence the purchase behavior of their followers. And influencer marketing platforms play a role of increasing efficiency of connecting brands with influencers.
A right Influencer marketing platform has been a significant weapon for marketers in 2022. According to Insight Partner, the Influencer Marketing Platform Market Size was valued at $148.04 Mn in 2019 and is expected to reach $337.74 Mn by 2027 with a CAGR growth rate of 13.4% in the forecast period from 2020 to 2027.
This article will help you understand how influencer marketing platforms help brands grow business and bring more sponsorships to influencers.
As a brand, you’ll need to know how to choose the best influencers for your brand, create an effective campaign, measure ROI, and manage influencer relationships by platforms. As an influencer, you’ll need to know how to earn more sponsorships on platforms. In this blog post, we cover everything you need to know about leveraging influencer marketing platforms for your business.
What is Influencer Marketing Platform?
An Influencer marketing platform is a technology platform that connects brands and influencers for mutually beneficial relationships. It allows brands to search for influencers based on campaign and media type, enter contest to find influencers based on campaign details, and track results and ROI.
A good influencer marketing platform should have these features:
– Discover and connect – Brands and influencers can discover, engage, and connect with each other through the platform.
– Campaign management – The platform should help brands and influencers manage and track their campaigns effectively.
– Stats Reporting – The platform should work as a social media analytics tool to provide data and insights for brands and influencers. In that way, users can grasp social trends and make their marketing campaign a hit. Also, brands can track and monitor their campaign performance through influencer marketing platforms.
– Payment – The platform should help in payment and management of money to influencers. As a third-party platform, offering services of payment and contract signing can minimize the risk of collaboration between influencers and brands.
NoxInfluencer, Socialblade, IZEA, and traackr are among the key players in the influencer marketing platform market. For example, the NoxInfluencer team, founded in 2017, has been digging into the field of marketing software for over 5 years. It covers all procedures of influencer marketing and automatizes them all through digital services.
Why Should Brands Leverage Influencer Marketing Platform?
A right influencer marketing platform will drive more sales for brands through digital influencer marketing services delivered by smart marketing software.
An influencer marketing platform will streamline the influencer marketing process. With influencer marketing platforms, brands can easily manage all aspects of your influencer marketing campaigns, such as identifying the right influencers, creating contests and micro-tasks, inviting influencers by few clicks, extending collaboration and managing relationships.
Without a platform, all the work would be undertaken by a whole team of dozens of staff. A good influencer marketing platform will help brands manage influencer marketing campaigns and increase your ROI.
You can also measure key metrics like CPL, CPA, and cost per engagement to monitor progress. With a platform, you can also conduct campaign and influencer analytics to uncover actionable insights that can help you improve your influencer marketing campaigns.
Why Should Influencers Leverage Influencer Marketing Platform?
For influencers, a good platform means a tool to help them manage collaborations with high efficiency and protect creators’ rights and interests when working with brands. Essentially, an influencer marketing platform helps social creators earn more opportunities to monetize their content. Considering the Covid-19 pandemic, lots of creators lose many income resources. Influencer marketing platforms will be a safe and fruitful income resource.
An influencer marketing platform helps influencers manage campaigns with ease. With a platform, influencers can find relevant brands, apply campaigns and micro-tasks, manage your campaigns effectively, and get paid on time.
With a platform, creators can also expand social networks, reach more brands and get collaboration quickly.
On NoxInfluencer, thousands of brands from around the world constantly publish marketing campaigns and micro-tasks, which are collaboration offers to creators. Any influencers who are interested in any of these campaigns can apply for collaboration.
How Influencer Marketing Platform Helps Brands and Influencers?
Discover and connect
When brands and influencers use an influencer marketing platform, they can discover and connect with each other. The platform allows brands to search through a database of influencers based on campaign details, media type, audience demographics, location, and subscriber number criteria.
Influencers can browse on platforms to find desirable campaigns or reach favorite brands to apply collaborations.
The platform allows you to manage your campaigns and assign micro-tasks to influencers based on their availability.
The platform allows you to view reports and insights about your campaigns to measure progress and ROI. The platform should work as a social media analytics tool to provide data and insights for brands and influencers. In that way, users can grasp social trends and make their marketing campaign a hit.
The platform allows influencers and brands to accept and receive payment for campaigns. As a third-party platform, offering services of payment and contract signing can minimize the risk of collaboration between influencers and brands.
An influencer marketing platform helps brands and influencers scale their campaigns and build mutually beneficial relationships. It allows you to discover, connect, and manage your campaigns effectively. It also helps in engagement between the two parties and provides reporting and payment features.