Digital marketing in 2019 is omnichannel effort. Paid Google, Twitter, and Facebook campaigns won’t do much without organic engagement on social media. But that still isn’t enough, your website or landing page must have excellent SEO rankings. Content marketing is a big thing in 2019, and you still need to complement your digital marketing efforts with influencer marketing.
IM (influencer marketing) is on the rise, because customers are looking for authentic content. Word-of-mouth recommendation is bigger than adds, and influencers are that connection between brand and consumers. People see influencers as one of them, or closest to that, and promoting through the carefully picked network of influencers is essential in a time when consumers are avoiding all that resembles classic advertisements.
With the epidemic of online users having adblockers, trusting the source becomes essential for a purchase decision. Over 84% of people are under the influence of user-generated content.
Friends become the most credible source for product information. But the definition of friend in the social media environment is somewhat different. Customers will listen to the person of interest from his social media circle, and “friends” recommendation and reviews on brand rating system will get you further than ads.
Influencer marketing is thriving because of these trends, and at the same time, social media advertisement is becoming old school. Marketing executives will continue to exploit a warm audience of influencers.
It all sounds easy and straightforward, but how to actually find a suitable influencer to market your product or service? The best way is to use influencer marketing platforms. We gathered the best tools to get started with influencer marketing.
Instagram is the platform of choice when it comes to the delivery, but you can also find the right influencer. The direct approach will save you the fees and intermediary restrictions. The downside to this direct business to influencer approach is the lack of safety mechanism.
You won’t be able to protect against frauds and fake accounts, and you could find yourself in the situation where you pay in advance, and get nothing back. Another obstacle is the rates. Price for the post of a medium influencer with more than 100k followers could go over $1000. You will also have a problem finding small and medium influencers, and you are more likely to see big ones because of their visibility.
Influencer marketing tools
Sylo, Analisa, and Hypeauditor are some of the big names in support tools category. A social brand manager can make use of its powerful features and tools. These tools provide support when choosing influencer.
Hypeauditor is a solution that gives you full disclosure of influencer’s audience. You can see how many fake followers. The influencer has, and it can give you an idea of how genuine their follower base is. Hypeauditor uses machine learning to identify fake followers, and gives you a breakdown of actual engagement, reach, and demographic data.
Analisa is Instagram analytics platform for businesses who can’t afford more expensive tools. Just like with many low-cost marketplaces, Analisa provides sets of data like follower count, number of likes and comments, but the app goes a bit deeper. Analysis can show you patterns of behavior. What happens on Monday at 10AM. You can get advice for when is the best time to post for each influencer, and also which hashtags will get you the most engagement.
Sylo tries to calculate the reach of influencers through its robust database. It can give you a rundown of engagement to the post, but it also gives you a context of how your post performed in comparison to another post from the same influencer. The in-depth analysis is possible because influencers companies work for need to sign in to Sylo platform.
Support tools can give you valuable insights but are a step away from tools for launching and managing campaigns.
Heepsy is one of the most popular apps when it comes to influencer database. The main reason for its popularity is a massive database with over 10 million influencers referenced. The advantage of an influencer database app is in the pricing, which is significantly lower than with campaign management solution. The downside is the lack of direct connection to influencers.
Best integrated campaign management solutions
Some of the most popular software for Instagram campaign management is in this category.
One of the key players is Upfluence. The apps predecessors covered influencer management system, the content marketplace, and the search engine. Bringing all these tools together, Upfluence created influencer Discovery and Campaign management. It requires a learning curve, but once you figure it out, Upfluence becomes a powerful tool.
HYPR is another enterprise solution that sets the standard for data-rich influencer discovery. It has an enormous database of over 12 million profiles, and it gives you actionable data about your campaign.
There are two serious flaws. The pricing is steep, starting from $795, and it can hardly be used by small and medium businesses. The other problem is that there is no way influencer can contact brand over the platform.
Top influencer marketplaces
Influencer marketplace solves some of the problems that Integrated campaign management solutions have. Marketplace allows brands to select the most relevant influencer, and another way around, influencers can choose the brands they want to promote.
Price negotiation is among the best features in the Influencer marketplace. As with most markets, there is a competition and influencers bid with others to get deals. Another great option is the safe deposit between influencer and business. Like in many freelance platforms, the Client will pay within the platform, and the funds are released after the approval of the influencer content.
It’s not all roses here dough. The list of disadvantages is substantial. Lack of transparency is on top of the list. The marketplace apps often act as a digital press agency, which means they try to pick influencers for you, sometimes they set a minimum budget for an influencer campaign. And then, there is the fee. You will have to pay a minimum fixed amount, subscription fee, and up to 20% of the transaction. Not a good business model if you want to pay influencers with gifts.
Some marketplaces have a low number of existing brands and influencers because they are limited by the users on the marketplace. The not so significant quantity of influencers can discourage brands and lead to fewer active users.
Most popular influencer marketplace are:
The Tribe is a popular marketplace in Australia and gaining traction in the US and UK. Tribe is focused on micro-influencers under 300,000 followers. The platform has around 50,000 influencers, and it serves as a matchmaking place for brands and influencers.
The influencer needs to register on the platform with at least 3,000 genuine followers, which Tribe will check upon registration.
BrandSnob is another matchmaking app available only for the iOS platform. The app describes itself as a platform that uses AI and machine learning to connect brands with more relevant Influencers and creators. It has in-app payment with funds held in escrow. There are no subscription cost or booking fees. The network is limited to North America, Europe, and Australia.
Indahash is focused on Snapchat, Instagram, and Facebook. The platform supports micro-influencers from 10,000 to 100,000 followers. It has around 800k influencers on the Indahash. The platform helps brands to find opinion leaders and influencers, and invite them to advertise their products on social media.
Digital press agency
If you don’t want to be bothered with finding the influencers, taking care of rewards and payments, digital press agency can do most of those things for you. They will offer to solve logistical problems as well as social media management. The good thing with agencies is they can provide another marketing channel in the mix. There are, however, some significant disadvantages. DPA has a steep monthly price in a range of $1000. For that amount, you can get much more if you go through matchmaking apps. Another problem can be a lack of transparency and ROI tracking.
Influencer marketing can be very lucrative if a good match between influencer and business is made. Warm and natural form and tone of user-generated content is the most significant appeal for Instagram influencers. Problems with in-depth analysis and ROI measurement can deter some companies from using influencers. Most more prominent brands will use Instagram celebrities, and the best way is to combine influencer marketing with other forms of digital marketing efforts.