With the rapid evolution of the influencer marketing space, there are many tools that both influencers and brands can tap into to create better relationships.
Let’s be honest, it’s important for both influencers and brands to find the best solutions when it comes to working together and bring in business.
Brands can run their own ambassador program with the old-school spreadsheet database.
Despite being much more time-consuming, it can be the best solution for combining ad-hoc campaigns and recurring perks and interactions.
If you do not have the time for such an option, or you are looking to supercharge your strategy, outsourcing may be the best solution.
For good or for bad, the industry is now booming with different platforms and solutions that can appeal to both parties – however, decision paralysis may happen in these cases.
Every new solution swears to be the most incredible influencer marketing platform or the next best influencer marketplace.
What’s the best solution for your needs? Let us help you find that one out.
What is an Influencer Marketing Platform?
Influencer marketing platforms are full-service solutions that allow brands (and agencies) to run influencer campaigns from A to Z. These tend to be relatively small (quality over quantity) and will usually provide high support level – however, it can be hard for influencers to join the platforms (and the price tag for brands is much higher!).
What to look for:
- A clear and effective signup solution for influencers looking to join the platform
- An easy to use and reliable analytics and ROI solution
- Very clear communication system and payment terms
Influencer pros and cons: because influencer marketing platforms are full-service solutions, they provide influencers with tools that allow them to easily manage all parts of the collaboration and they protect the influencer when it comes to creative licence and payment. Unfortunately, the number of opportunities is much lower than marketplaces.
Brand pros and cons: Most platforms allow brands to easily communicate with influencer as well as creating contracts and reviewing content, all the way to payment (again, it does depend on the individual platforms). Analytics such as impressions, media value, and other metrics allow brands to gather insight and apply learnings to future campaigns.
Influencer marketplaces tend to be softwares that either collect or list influencers across social media (this can either be via invite or via an agency affiliated). Brands can then filter through thousands of influencers by demographics such as gender, content type or location.
Do not be fooled by the name: if you come across an influencer databases or network, chances are they will be also marketplaces.
What to look for:
- A basic vetting system for influencers
- Ensurance of real followers and engagement check
- Tools necessary to manage all aspects of influencer relationships
Influencer pros and cons: Influencer marketplaces aim to provide brands with as many search results as possible. If a brand chooses influencers solely based on follower count, for example, you may end up with either load of opportunity or none at all, regardless of the quality of content.
Brand pros and cons: Influencer marketplaces only provide brands with a very, very long list of people to skim through. Brands are still required to manually manage other aspects of the collaboration process using email and spreadsheets.
So which solution is right for you?
Ultimately, the best option for you is to do your research and go with trusted sources. We always share with our influencers the latest news, platforms, as well as guide them to the best solutions.