In our previous blog post, we explained the new definition of influencer marketing in 2017 and analyzed the status quo of influencer marketing after two years of development. Now, it’s time to tell you why you need an influencer marketing platform to facilitate and accelerate your influencer marketing efforts.
Before you read: In this blog post, we use the term “influencer marketing platform” with the overall meaning, not particularly our product and services. This article points out the reasons why these influencer marketing platforms (including ours) are created and what they can do to make your life easier with influencer marketing.
If you are curious about what makes our software InfluencerDB stand out from the competitor’s one, that topic shall be discussed in an upcoming blog post.
Data is king, and influencer marketing database is your kingdom
This is definitely the most crucial reason why you need a software to do influencer marketing properly. Have you ever wondered how many people are currently active on Instagram? In this article, Business Insider says there are 700 million active users per month! How many of them are influencers? How many of those influencers are in the same industry with your company?
The most important question: Who among those influencer in the same industry is the best-in-class that your brand should cooperate with? Keep in mind that this is just Instagram, people still have other social media platforms like Facebook, Twitter, YouTube, etc. with tons of influencers! I believe these questions are not easy to be answered if you only work manually on your own.
In the modern era, influencer marketers need to have the capability to handle a lot of data. The more data is in your hand, the better overlook you will have of the market. Thus, data is king, and database is your kingdom. Currently, most influencer marketing platforms (including InfluencerDB) are database software. Therefore, having the software will definitely help you to:
- Drastically reduce researching and data-mining time
- Keep track of influencer market movement
- Succeed in influencer marketing without having to be a data scientist
As marketers, you may also realize that market research is one of the most important and, as a result, most time-consuming parts of the whole marketing process. Thus, most of the currently available influencer marketing platforms/ software is designed to help you with this task.
From our experience, we frequently notice that Digital Marketing departments of huge brands in various industry sectors still research influencers manually by using Excel, PowerPoint and Internet Explorer (!). Without the help of a professional influencer marketing platform, they are struggling a lot with that task.
Keep in mind that in influencer marketing, finding new faces is always a real pressure, because the micro-influencers usually fit with your brand better than celebrity-influencers.
The following graph will give you an overview of different groups of influencers and how to distinguish them based on their followers:
Make sure to set up several criteria in your mind beforehand and check with the vendor about the “Find Influencers” feature. In order to take over that time-consuming task, an influencer marketing tool should be able to help you find the right influencers in no-time. It should have multiple filter options, such as by industry categories, gender, number of followers and hashtags. Hashtags are one of the most powerful content mining tools, especially with Instagram influencers.
@danielwellington ⌚ • • • [#way2ill][#killergrams][#streetphotography][#illgrammers][#urbanromantix][#urbanexplorer][#visualsoflife][#agameoftones][#primeshots][#shoot2kill][#thecreatorclass][#artofvisuals][#photooftheday][#streetshots][#streetcollectors][#moodygrams][#urbanexploring][#ig_bestshots][#nightcrawlers][#urbex][#streetshared][#streetmobs ][#streetframe][#fatalframes][#createexplore][#createcommune][#heatercentral][#meistershots][#gramslayers]
Hootsuite reported that each post on Instagram usually contains at least 11 hashtags to make postings more meaningful. Thus, following the hashtag will be the most effective strategy to help you find micro-influencers in specific industries as well as identify whether they are already working with your competitor or not.
Influencer Marketing Analytics
An influencer marketing data-driven software should be capable of telling you if an influencer’s followers are fake or not. Fake accounts plague Instagram since its start in 2010 and currently, it is not so hard to find “followers for money” services on the internet these days. Influencers using those abuse methods are definitely NOT the ones your brand would want to work with.
This article will tell you exactly how fake followers ruin your influencer marketing campaign. Therefore, make sure to check with your influencer marketing service provider about a “fake follower detection” feature of the product. This is a crucial part of the influencer analysis that every marketer will need.
How an Instagram account with fake follower looks like © InfluencerDB
Furthermore, one of the most critical questions in influencer marketing is:
“How much should I pay for an influencer?”
Believe it or not, the price can range from 50 to $500,000! Relying on your gut feeling is not the right approach. This is the right time for an influencer marketing tool to step in, give you data-driven analytics and reports, and help make your decision-making process much easier and more efficient. Your chosen software should be able to provide you with all necessary data to evaluate the pricing of influencers.
Automize your influencer marketing campaigns
The next advantage of an influencer marketing software is helping you manage your campaign, including not only your brand’s profile(s) but also your cooperation partners. Let’s come back to the previous example. A frequent task of marketing teams is evaluating the status quo of influencer channels as well as keeping this data up to date.
Especially for big companies with numerous regional and international Instagram channels, this task can be strenuous and time-consuming and can be executed by a proper influencer marketing tool quickly and easily.
A professional influencer marketing software will help you manage your campaign much easier, faster and more efficient. Basically, this is the reason why a software is created, and with millions of influencers on the market right now, managing them manually is unnecessary and simply a waste of time.
A simple list like this can take you 2 hours working manually, or only 2 seconds with a software
ROI of the influencer marketing platform
Finally, let’s talk about the return on investment of an influencer marketing platform. In the end, purchasing a SaaS is also an investment for your company, and whenever you decide to invest in something, you always expect to get as much value from it as possible. From our experience, in the following cases you should get yourself a professional influencer marketing platform:
- You already know what influencer marketing is and want to invest in it properly (our blog is full of articles for both influencer marketing beginners and professionals)
- You have a team (one-man team also counts) to be in charge of influencer marketing
- You tried other online marketing methods and it didn’t work so well
- You are looking for more than 5 influencers for your brand
- You are looking for a strategic solution, not a way to waste money
You may also want to take a look at this question on Quora to see what you can expect from an influencer marketing platform. The real strategic decision is always getting the most value out of your budget.