Are you familiar with the term ‘Influencer Marketing’? It’s a type of marketing that makes use of social media influencers to reach out to your target audience. Influencer marketing also helps you market your product or service by working with specific people who have a strong following on social media and can influence your potential customers.
Social media has become one of the most prominent marketplace for brand to build brand awareness and promote their products. That being said, an Influencer Marketing Platform is an essential tool that connects brands and influencers. A right influencer marketing platform can streamline influencer campaign running and lift efficiency.
In this blog post, we will be talking about why an Influencer Marketing Platform is important for your business, how it can help you drive sales with influencers, and what features you should look out for when choosing one.
What is an Influencer Marketing Platform?
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.
An Influencer Marketing Platform acts as a bridge between influencers and brands. The goal of this tool is to make the process of influencer discovery, influencer campaign running, social media analytics, and influencer relationship management much easier. With an Influencer Marketing Platform, you don’t have to spend hours in searching for the right influencers to work with. Instead, you can just log in to your account and view a list of niche influencers. You can then quickly choose the ones that fit your brand best, message them, and start collaborating. You can publish a campaign offer on platforms and sit and wait for influencers’ application for your offer.
The Influencer Marketing Platform you choose should have a wide range of features that help you manage your entire influencer marketing campaign. Some of the basic functionalities that you should be looking for include influencer discovery, campaign creation, influencer outreach, moderation, and social media influencer analytics.
Therefore, an influencer marketing platform is also a marketing software for marketers. NoxInfluencer; AspireIQ, Inc; IZEA Worldwide Inc.; are among the key players in the global influencer marketing platform market.
4 Reasons Why You Need an Influencer Marketing Platform
If you’re still not sure why it’s important to use an Influencer Marketing Platform, here are 5 reasons why you should go ahead and get one:
1. Campaign Running Management
To run a successful influencer marketing campaign, you need to create an effective strategy and timeline. Since you’re working with different influencers, you also want to make sure the consistency of your branded content stays consistent. An Influencer Marketing Platform can help you with all this. It can also help you create a campaign that can be used for tracking and measurement. A smart campaign management module always goes with a influencer relationship management system, which can help brands establish a long-run collaboration with well-performing creators.
2. Influencers Discovery
Finding the right influencers for your brand is a difficult and time-consuming process. But with an Influencer Marketing Platform, you can search for influencers for your need, such following level, location, audience demographics, and specialties. You can also filter out those influencers with contact info for reaching out.
3. Social Media Influencer Analytics
As an influencer marketer, you must grasp social media trends and get insight to it. You can use social media analytics tool on influencer marketing platforms to evaluate influencers’ quality. Are they on trend? Do their content perform well on social media.
As your marketing campaign progresses, social media analytics can also help track your progress and monitor your campaign performance. You can also see how many people have been influenced by your chosen influencers.
You don’t have to spend hours and hours contacting potential influencers one by one. With an Influencer Marketing Platform, you can mass message several influencers at once, so you can save time.
4 Steps to Successful Influencer Marketing
Before you jump into influencer marketing, you have to prepare yourself for the process. A successful influencer marketing campaign requires you to do a lot of things, including finding the right influencers, creating a robust campaign, and managing your influencers. Here are 3 steps to a successful influencer marketing campaign:
1. Campaign Planning
Before you even think about reaching out to influencers, you have to plan your campaign. You want to make sure your campaign is thorough, detailed, and strategic. It’s important that you know exactly what you want to achieve with your campaign and how you want to achieve it. You should also make sure your campaign has a clear end date so you can track your progress.
2. Influencer Discovery
After you’ve planned your campaign and are ready to get started, you should start searching for potential influencers. You can use your Influencer Marketing Platform to search for influencers based on their specialties, interests, and engagements. You can also search for influencers based on the number of followers they have.
3. Influencer Outreach
Now that you’ve found some potential influencers, you have to reach out to them. You can use your Influencer Marketing Platform to message your influencers and let them know that you’re interested in working with them. You can also use your platform to negotiate the terms with them.
4. Campaign Management
Once your influencer marketing campaign has been launched, it’s not done yet. You want to make sure your campaign is being managed properly. You should keep track of your progress and be open to making necessary changes to improve your campaign.
2 Tips to Find the Right Influencer for Your Brand
Before you start searching for influencers to work with, you have to make sure you have the right ones in mind. Here are 2 tips to help you find the right influencers for your brand:
1. Look for Influencers In Your Niche
The most important thing you have to keep in mind when searching for influencers is that they must be relevant to your brand. The last thing you want to do is to partner with an influencer who doesn’t have anything to do with your business. This can actually do more harm than good. Once you’ve found some potential influencers, you have to make sure they’re relevant to your brand.
2. Consider Engagement Rates
When you’re looking at engagement rates, you have to consider how your potential influencers interact with their followers. The number of followers an influencer has doesn’t matter as much as their engagement rates. The higher your potential influencers’ engagement rates are, the more effective they will be at promoting your brand.
What we’ve learned from this article is that an Influencer Marketing Platform can help you create a more personalized marketing campaign. With the help of this platform, you can reach out to your potential influencers, manage your campaign, and measure your progress.
That being said, it’s important that you pick the right Influencer Marketing Platform for your brand.