In previous articles, we have examined the importance of influencer marketing and how to start an influencer marketing campaign. One of the steps to starting an influencer marketing campaign is to “identify, research and evaluate” influencers. In that article, we looked at ways to identify influencers using Google, Social media platforms, Buzzsumo, and Quora.
However, instead of going through that process, there are influencer marketplaces where marketers and influencers can meet. Instead of doing those extensive Google searches and racking up Quora for influencers, a marketplace provides a ready-made platform where you can identify, research and evaluate influencers who are ready and willing to work with marketers.
Why you need an Influencer Marketplace
Certain benefits that come from using an influencer marketplace for this step in designing your influencer campaign.
- More Efficient: You don’t need to spend a lot of time searching everywhere for influencers who might not even be willing to promote your business. An influencer marketplace is a dedicated platform that makes your research easy and focused.
- Cost Saving: Using an influencer platform is cheaper than hiring an agency to do it for you. The marketplaces provide a cheaper option if your business is small and don’t have the budget to hire an agency to do all the work for you.
- Gain Quality Experience: The Influencer marketplace will help you gain experience in designing an influencer campaign. With every new campaign, you will become better with the process.
- Start small: With an influencer platform, you can start small and then scale your campaign based on your results and performance.
- Better evaluation: Many Influencer marketplaces will provide you with important metrics you can use to evaluate the influencers. Some of these metrics might not be readily available or difficult to come up with if you work independently. Also, you can know what the experience of other people are with the influencers you are evaluating.
What you should look for in an Influencer Marketplace
Influencer Marketplaces are not created equal. There are features that make one marketplace better than the other. When you are deciding which marketplace to use, keep the following points in mind:
- Relevance: Is the marketplace relevant to your niche? Some marketplaces have a specific focus on certain niches and might not be good for other niches. Be sure your niche is well covered on the platform. Similarly, some influencer marketplaces are focused on some specific network like Instagram influencer marketing. In that case, if your focus is not on Instagram, you might check out another alternative.
- Easy to use: Does the platform have an easy to use interface? An interface that is hard to navigate and use will hamper your marketing efforts. Choose a marketplace where you can easily get access to everything you need without any need for a complex guide.
- Filters: Are you able to filter your searches with important metrics? The ability to use filters when searching for relevant influencers makes your work easy in the evaluation phase.
- Metrics and evaluation tools: Does the platform integrate relevant tools and metrics to evaluate influencers? It is not enough to just give a list of potential influencers. A good influencer marketplace will have tools and resources to conduct research and evaluate the influencers. The platform should also give an estimated cost of using each of the influencers to give a heads up budget wise.
- Support: Is their support system efficient and responsive? There will be times when you need support when creating and managing your campaign.
- Communication: Does the platform have an integrated communication system or do you have to communicate outside of the platform? A good influencer marketplace should have a communication system where you can start and maintain communication with potential influencers without going outside of the system (unless you wish to)
- Reviews and Recommendations: Are there people who have been delighted by their experience with the marketplace? Reviews and recommendations are important when deciding on a platform. Check out what people in your niche or outside of your niche are saying about the platform. The platform should also have their internal ratings where marketers and influencers can leave reviews.
Examples of Influencer Marketplaces
Many influencer marketing platforms are sprouting up, and it can even be difficult to keep up with the number.
How to win with an Influencer Marketplace
Winning with an influencer marketplace is the same as winning when you are doing the whole work independently.
First, ensure you have clear, specific goals for your influencer campaign. Next, know your target audience in and out so you can decide on the influencer that will fit in.
Also, ensure you do detailed research and evaluation of potential influencers. Be as detailed as you can be. Research the influencer outside of the platform. Look out for the level of engagement they have with the audience, their tone, how they exert influence on their audience and see if all of these fit in with your goals.
Influencer Marketing offers tremendous benefits for those who are willing to put in the efforts. An influencer marketplace makes you work easier by providing a platform to identify, research and evaluate influencers easily. Choose the right marketplace, use the marketplace effectively, launch your successful influencer campaign and watch your business grow and expand.
Next, we will look at influencer marketing agencies. Stay tuned