What is an influencer marketing platform?
Influencer marketing platforms are known to connect brands with proper influencers to achieve their marketing goals. Influencer marketing is one of the convenient ways to build your brand online and increase awareness and trust among your audience.
These agencies help to develop a strategy for the brands so that they can leverage the power of influencer marketing. A social media marketing agency also helps negotiate remuneration with influencers and ensure the campaigns comply with some disclosure rules.
Advantages of working with an influencer marketing platform?
If you are a brand or a start-up looking prompt your business in a way to achieve all your marketing goals without compromising the quality you must seek assistance from a renowned influencer marketing platform. Here are some of the main reason for which you must let an agency help you.
Influencer marketing is one of the most reliable ways to establish the trust of your brand among your target audience. Influencers have built a trustworthy relationship with their audience over time through their dedication and creativity. If you work with such influencers you will get the chance to achieve great visibility. By sharing influencers’ constant you will rapidly gain their attention and trust. It is also a great way to engage the audience with your brand.
Generate brand awareness
If you wish to educate your audience about your products and services you must work with micro-influencers who will provide a great engagement and reach which is great for your inline positioning. The secret of amazing influencer marketing strategy is ensuring that you are providing meaningful content that adds value to the influencers’ social media presence, which means ensuring value on both sides.
Improve content strategy
They say content is the king, but content without a proper marketing strategy has no practical value, so instead of investing time on producing fresh content utilize the power of influencers. If they share your brand content you can create a buzz about your products among your target market. Influencer marketing can help you fill the content gap, through relevant influencers your brand content can be placed in front of the right audience, so instead of spending additional fund on content marketing, you can leverage the power of influencers.
Drive more sales
The main objective of brand marketing is to drive more sales, influencer marketing is of the most relevant ways to achieve that. It provides amazing value to your audience; it not only educates people but also encourages them to purchase from you. Besides, influencers have great potential to shift peoples’ mindset regarding their purchase decisions. They can provide multiple valuable leads which will be great for a long-term business strategy.
Reach your target audience
Through influencer marketing, you can reach the right-minded people without spending a hefty amount. If you work with celebrity influencers who are backed by millions of followers after posting your brand content within a lesser time frame their vast audience can see your product, if they like your content can get shared among different communities. So, you can expand your sets of audience easily by investing in influencer marketing.
Influencers’ recommendation looks much more organic than celebrity endorsement, buyers are now aware than ever, they do their fair research before making their purchase decisions. If you endorse your product with celebrities maybe you will get extreme engagement but deep down the line, they know its nothing but the grab of cash. This simple factor can make a big difference in the long term business strategy.
Influencer marketing platform vs influencer marketing agency: what is the difference?
It is not much difference between these two, an influencer marketing platform essentially provides you with the database of influencers after evaluating your marketing goals. They can provide the influencer rate card based on niche, number of followers and quality engagement. An influencer marketing platform is basically a software-based program that is designed to help you spot the right influencers. Through such a platform you can manage your campaign performance like reach, engagement etc.
There are various differences between working with an influencer marketing platform and an agency:
Influencer tools can save you time but not money
If you want to spot the right influencers you can take the help from influencer marketing tools that will provide a glance of their database from where you can compare similar influencers based on different parameters. But the truth is it is next to impossible for the marketers to understand the authenticity of these influencers by those data. Sometimes their information is not updated so you have to manually check the profiles of the influencers to understand the truth. These platforms also allow you to opt for self-managed campaigns where you can directly communicate with a group of influencers and negotiate.
On the other hand, influencer marketing agencies work in both ways, they can not only help you find the right influencers but also help you curate a unique campaign to attract more number of followers from your target audience. They also provide consulting services to finetune your influencer marketing strategy, they ensure you will get maximum success from your influencer marketing campaign. The agency fee depends on two factors: type of influencers and deliverables.
Require more research
If you are taking help from an influencer marketing platform they require a higher level of brand engagement than working with an agency. You may get many tools and software to launch your campaign with the so-called proper influencers but when it comes to managing the campaign you might face a lot of difficulties. Sometimes brands need to post the content withing a strict guideline for which you need to keep in touch with the influencers.
Sometimes instead of providing clear instructions, influencers don’t follow them, for that you need to communicate with them and make them understand your requirement. Unfortunately, an influencer marketing tool cannot guarantee micromanagement as precisely as an agency. If you don’t want such involvement and focus on getting the results influencer marketing agencies can be your right choice.
Influencer marketing tools are perfect for smaller campaigns
If you are applying influencer marketing for the first time with a limited number of influencers you can take help from one of such tools. But for bigger campaigns that involve more than a hundred influencers, you can rely on an influencer marketing agency that has prior experience in dealing with a large-scale campaign. For précised regulations and guidelines such agencies are the best as they work on getting some advanced amount and you can pay the rest after completion of the campaign.
Access to a vast network
If you work with an influencer marketing platform you might get access to different influencers’ database but would be restricted by all means. Sometimes some influencers purchase followers to earn money from brands that are called fake influencers if by chance you hire them for your campaign you will end up spending money but not getting reach. So to be on the safe side it will be rational to work with influencer marketing agencies who will charge agency fees for getting your job done.
What companies use influencer marketing?
Companies that have one of the following marketing goals use influencer marketing;
- Generate awareness
- Drive sales
- Build trust
- Improve social positioning
- Improve visibility
- Enhance content strategy
If you are new in the market looking to establish your brand reputation to attract more followers influencer marketing can be your key to success. If you want to get a response like big brands you must work with mega influencers whose follower count starts from millions, though they charge a hefty amount but provide guaranteed success. However, if you have a limited marketing budget you can hire micro and nano-influencers who has a limited number of followers but provide a great reach and engagement if they like your product you can convince them to work on a barter basis. For those who are looking for a sustainable business plan, you can work with various types of influencers who will help you build trust and increase sales.
How influencer marketing platforms make money?
Influencer marketing platforms help brands to connect with proper influencers so that they can reach their marketing goals. These platforms charge an agency fee for providing the connection upon evaluating brands’ requirement. They handle the entire campaign from communicating with influencers to check the quality of the content in exchange of agency fees, the bigger the campaign the costly the fees.
How much you should spend on influencer marketing?
If you are new in this influencer marketing don’t know the type of response you will receive, spend only 50% of your marketing budget on influencer marketing to know how things will work for you. If you are confident about your marketing goals and ready to work with mega influencers you can spend up to 80% of your budget on influencer marketing, it is great for user-first approach and building a trustworthy relationship with your customers.
InfluGlue: Why time is on your side in 2021?
In 2021 post lockdown brands are tends towards working with influencers repeatedly instead of spending money on other forms of marketing. This is because now a great number of customers use AdBlocks which prohibit your ad to get displayed among various digital spaces so even after spending money you never know whether your ad gets viewed but the customers. Instead, if you use influencer marketing you can get guaranteed success. Moreover, the new-age buyers seem to trust influencers’ recommendation more than celebrity endorsements, so if you want the same for your brand influencer marketing can be your secret weapon.
For more influencer marketing-related information, you can connect with InfluGlue, the leading influencer marketing platform cum agency in India with years of experience in dealing with large scale campaigns from renowned brands like Nestle Gerber, McDowell, The Tribe Company and many more. They will provide the best influencer marketing services at an affordable price; you can connect with them and talk to the team about your requirement and let them assist you.
Are you confused between an influencer marketing platform and an influencer marketing agency? Give this article a read and decide which one is more suitable to fulfill your marketing needs. Also, get an idea of what factors your influencer marketing campaign budget may depend.