Influencer marketing has gained a well-deserved place in the digital marketing efforts of many brands. According to Statista, in 2020, more than half of marketers claimed that influencer marketing had a higher ROI than traditional methods. But with the proper tools, you can monitor your results.
Whether you're beginning your first campaign or are a seasoned veteran, you'll find that influencer marketing involves many moving parts. The logistical obstacles are finding the right collaborators, establishing relationships, and managing payments. This is where the list of influencer marketing platforms comes in handy.
What Are Influencer Marketing Platforms?
Influencer marketing platforms offer businesses a comprehensive solution for identifying social influencers, handling influencer-generated content, and assessing influencer marketing campaigns.
This software enables brands to access acquisition networks and promote new services and products through collaborations with famous or influential people, content creators, brand ambassadors, and Instagram micro-influencers.
Marketing and PR teams in consumer goods sectors, such as retail, clothing, beauty, e-commerce enterprises, and direct-to-consumer (DTC) brands, frequently use influencer marketing platforms.
The best influencer marketing tools are frequently employed to complement other social media promotional applications. Some influencer marketing platforms may include elements of user-generated content tools or customer advocacy systems to assist brands in using social proof and converting existing supporters into social influencers.
Common Misconceptions About Influencer Marketing Tools
Influencer marketing is an important asset for brands. Most marketing budgets, from multinational brands to start-ups, are allocated to influencer marketing. According to Insider Intelligence, the influencer marketing sector will be worth $15 billion by the end of 2022. And the most prominent are influencer platforms.
Future influencer marketing platforms should enable full-funnel results and be subject to the same accountability standards as any other media approach. In any business, you can implement an influencer campaign that can make a change to your brand. To do so, you must eliminate some myths that impede brands from profiting from the actual value of influencer marketing platforms.
1. Finding the Right Influencers Is Difficult
Imagine searching through your social media networks and analyzing influencers one by one. Sounds excruciating, right?
A platform for influencer marketing can assist you in growing your search efforts by allowing you to find partners based on several characteristics, such as keywords, region, profession, niche, style, engagement rate, and audience demographics.
Consider a platform with a creator marketplace to find customers. Social listening features enable you to identify who is already talking about you online so you can request them to join your initiative. Influencer marketing networks facilitate the attraction of prospective partners.
2. Possibility of Developing the Influencer Strategy with Fake Followers
According to another study by Statista, despite the expanding scale of the Instagram influencer industry, 66.8% of Instagram influencers were fraudulent.
As a result, several Instagram frauds occurred since some brands failed to detect the legitimacy of the influencer.
Repeatedly, bogus influencers damage brands. Influencer marketing tools address this prevalent business issue since influencer marketing platform developers vet every influencer in their system.
A fake influencer may have previously damaged your company. If you engaged with an influencer with over a hundred thousand followers and the sponsored content generated a low return on investment, the influencer likely had fake followers.
When working with a credible influencer platform, your company will only connect with genuine influencers who have a loyal following within your target demographic.
3. Managing All Your Influencer Contacts Is Complicated
The management of influencer connections is crucial. With influencers, you invest in people and relationships instead of executing paid advertising campaigns.
It is essential to follow the lifecycle of a connection. This is possible with the help of CRM programs. The CRM program stores the contacts database where you can categorize your influencer contacts to determine which relationships function best.
Bulk email your complete list or particular segments to guarantee it is current and accurate. Using a CRM program, you can archive all previous communications and efforts so that nothing is lost. Using a robust CRM allows you to benefit from a constant flow of information from all touchpoints and throughout the contract lifetime.
4. Matching Your Brand to Influencers Is Challenging
Getting access to genuine influencers is just one part of the battle for brands regarding influencer marketing. You may access many influencers, but picking the right one for your brand's next campaign can be tricky.
Influencer platforms have a lot of information about influencer campaigns. Using data-driven insights lets the influencer marketing platform complement your brand with the appropriate influencer for the task.
For example, your next campaign requires a video to be shared on Instagram. A platform for influencers can quickly find the top YouTube channels in your brand's niche by using analytics. The platform might even have information about its competitors that they can use.
When you use data-driven insights to match your brand and future campaigns with the right influencer, you get the best results and the highest ROI.
5. You Can’t Build Brand Awareness with Multiple Influencers
Finding genuine influencers who are a perfect fit for your brand can be challenging. If you are a small organization, you can find and manage one or two because you have the workforce. To develop enormous brand awareness, though, you need several influencers.
Every influencer has a diverse customer base, and you improve brand recognition when you reach that audience through a paid ad. However, when multiplied by five influential individuals, brand awareness skyrockets.
This might affect your brand's awareness and conversions for the campaign's duration. And the most remarkable thing is that you already know that each influencer has been verified for optimal ROI potential by the influencer platform.
In many ways, your brand is irrelevant if you are inactive on social media. Social media alters how individuals connect with brands, discover new products and services, and make purchasing decisions.
Advance Your Marketing Initiatives Through Influencer Marketing Tools
In today's social world, tools that assist companies in managing influencer marketing are critical. Save significant budgets on underperforming influencers and content.
If you're ready to take your efforts to a higher stage, influencer marketing tools and platforms are what you have to take into service. You'll also need a solution like this to create and automate ambassador and affiliate programs. You certainly can shift your campaign initiatives to an influencer marketing platform.