Influencer marketing software and tools attempt to help you locate and connect your brand to an influencer's (already avidly followed and trusted) publications in some fashion. In short, an "influencer, is a content publisher with a respectable following online or through social media.
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Influencer Marketing Software and tools help to locate and connect your brand with an influencer's audience. Influencer marketing platforms provide marketing departments with data about which content is performing best and which influencers to connect with.
An "influencer" is a content publisher that already has a sizeable following online and through social media. It can take many months, even years, before new content publishers are discovered and avidly followed, irrespective of the content's quality. Owing to this, there are also influencer marketing agencies which marketers can utilize, but these services typically cost more than using influencer marketing platforms alone.
Therefore, it can be very beneficial for marketers to link their brand to an already well-established influencer and increase visibility for their products. This is a key reason for the rapid rise of "influencer marketing" that has dominated today's content marketing efforts.
These are some common influencer marketing software features:
To compare different influencer marketing platforms, consider these factors for each product offering:
Usability: Look for automated workflows to reduce complexity as business expands. Prioritize feature sets including scheudling, ease of use, tracking assignments, and structural customization.This is an emergent software category, so pay attention to its support foundations and implementations.
Specificity: A good platform will save you from expending resources on mismatched influencers. This will maximize your relevancy and the effectiveness of related campaigns. The best software should have diverse criteria filters for age, gender, location, education, language, alongside metrics like houshold income, content sector, social reach, audience, and brand affinities.
Return on Investment: Price is always important when evaluating software, but given the subjective nature of influencer marketing, you want to make sure you're able to track the successfulness of the specific product you choose. Reduce guesswork in your selectivity with data. Attune your needs to a platform that can tip ROI scales in your favor prior to a campaign and throughout.
Start an Influencer Marketing software comparison
Products are typically priced on a monthly, or annual, subscription basis. Prices start at around $30 for smaller plans and can increase to multiple hundreds of dollars for more extensive and enterprise level plans. Many vendors also include a free trial version of their software.
Influencer marketing can vary greatly. Typically, you will have to factor in costs associated with influencer payment, as well as the cost of working with an influencer marketing agency or using an influencer marketing platform.
Pay rates for influencers range from $5,000 to $10,000. This reflects an average compensation for a post by an influencer with 500,000 to 1,000,000 followers across their social media profiles. Thus, costs break down to $10 per 1,000 followers, totaling $250 to $750 per 1,000 engagements.
Most influencer marketing platforms charge consumer a monthly subscription fee. Basic options start at around $30/mo. More advanced options can range anywhere from $150/mo to $500/mo for the most cutting edge features.
Agencies charge per campaign with a required minimum budget. Some provide plans which only require payment if pre-determined performance metrics are reached. You may also find that some agencies offer monthly subscription services as well. Generally speaking, the more specialized the campaign, the higher the cost. For major campaigns, you can expect to pay anywhere from $500 to $10,000 depending on the support and execution needed.
Influencer marketing is characterized by collaborative dynamics, wherein a business partners with influencers for brand promotion. The right influencer can reach your target audience, build trust, and drive engagement. Keep in mind, in-demand influencers get lots of offers in today's climate. They may not always be keen to follow a prescribed, template advertising style.
When you first approach an influencer, demonstrate you’ve put in the time to research their style and approach. Get to knows what their channels are about and who their audience is. As a suggestion, start your interactions slowly and organically with your target influencers' posts. Like their content, and comment when appropriate. Be appreciative, and don't lead with a commodifying tone.