Choosing an influencer marketing platform for your niche can be tricky. It would be best if you considered the needs of both businesses aiming at advertising their products or services and content creators interested in finding new collaborations. For example, if you’re thinking about building an influencer marketplace specializing in cryptocurrency, it makes sense to research existing influencers and find out what they specialize in. You can do this using hashtags and search tools.
Focus on your Goals
When it comes to influencer marketing, the first step is determining what your goals are. Are you trying to elevate brand awareness or increase sales? Either way, it is essential that you try using an influencer marketing platform that can deliver on those objectives. Using an influencer marketing platform that can help you do just that will save you time and energy in the long run. Depending on the platform, it can help you create an influencer campaign, find influencers who are a good fit for your campaign, and manage your influencer relationships.
Check the Platform’s Features
A good influencer marketing platform should have a database of authentic influencers who match your brand’s voice and have genuine audience overlap. It should also cover all major social media channels. Moreover, it should facilitate hassle-free communication and campaign execution and provide robust data that helps you assess the impact of your campaigns. You should also check whether the platform allows you to import or export data, making it easier to work with multiple influencers. Most influencer marketing platforms provide a search portal to filter through influencers by factors such as niche, gender, location, follower size, and more. However, some also offer advanced features that go beyond basic filters.
Check the Platform’s Pricing
The price of an influencer marketing platform is one of the most important things to consider. It should be affordable for your business and help you make more money than you spend. Some influencer marketing platforms offer flat fees, while others charge a percentage of the total campaign cost. Flat fees can be cheaper than commission-based pricing, but you may need more flexibility to optimize campaigns. Another option is to use an all-in-one influencer marketing platform. This platform provides robust data that helps influencers understand their audience, including metrics such as engagement and reach. It also offers several different formats, from stories to videos. Other influencer marketing platforms focus on research and discovery. Their tool offers a variety of search options, including accounts, hashtags, and location. It also offers escrow functionality, so you don’t have to pay until the influencer delivers.
Check the Platform’s Reputation
A good influencer marketing platform will provide all the tools you need for your campaigns, such as influencer discovery, relationship management, workflow automation, and analytics. A platform that does not have the functions you need may be a waste of time and money. For example, suppose you’re a brand on a tight schedule. In that case, a self-service influencer discovery tool will be more beneficial to you than a CRM or database that handles everything from campaign development to managing relationships with creators. Also, look for a platform that has a scalable model – meaning you can scale up or down the number of campaigns it manages for you. Finally, ensure the platform has an extensive database of authentic influencers with genuine target audiences that overlap with your ideal customers. This will ensure you get the most out of your investment. It’s also a good idea to check whether the platform has a reputation for delivering results and ensuring transparency.