Influencer marketing is an integral part of the digital era. This century showed us why influencers hold immense power over public opinion and how they can contribute to various marketing efforts of the brands. This recent marketing tool has grown to become a subject of studies and research and finds itself deeply rooted in product advertising and brand marketing.
The 21st century brought numerous tools, platforms, and channels where marketers engage in influencer marketing. Even though this increase in marketing equipment benefits companies and brands a lot, making the right choice has become very difficult. Which tool or platform is the most appropriate for your goals? Which of them provides the right solutions for a suitable price? These and more questions are covered in our guide below on the influencer marketing platform and tools for 2024.
What Is Influencer Marketing?
Influencer marketing does not need explaining and you do not need a glossary to understand the concepts behind it. It is very simple and works in mostly the same way for every marketer – influencers are people who have a broad reach over digital audience and they can help brands promote their products and services. Using influencers for promotional purposes is a simple definition of influencer marketing.
Not all businesses can benefit from this marketing field, though. Influencers are mostly social personas who have a strong presence on social media like Facebook, Instagram, TikTok, and YouTube. Those companies that do not find their audience on these platforms will benefit less from influencer marketing. So understanding the platforms for influencer marketing helps you decide if the approach will be profitable for you and if it works for your business or not.
Certain platforms heavily rely on influencer marketing. Visual social media like Instagram and Pinterest as well as TikTok are some places almost all influencers have an account on. YouTube is another place where niche doesn’t play a major role, although, because of the difficulty with its algorithm, not many have it. All in all, social media apps are where you should be searching for the right influencer for your campaign.
Key Features of Influencer Marketing Platforms
Generally, you could use any social media platform for influencer marketing. However, tracking the performance, finding the influencers, and choosing the content could be challenging for some channels. That is why marketers choose the same platforms over and over as they find them efficient and easy to use. There are some important features that a platform must include for influencer marketing to work:
- Campaign Management: The platform should have a comprehensive campaign management system that allows you to plan, execute, and monitor your campaigns in one place. This should include features such as a project dashboard, task management, and analytics.
- Influencer Database: A comprehensive influencer database is crucial in finding the right influencer for your brand. The platform should have a large and diverse pool of social media stars. Including those with different niches and reach, from different places. This is to ensure that you find the right fit for your campaign.
- Influencer Analytics: Influencer analytics provides insights into the performance of your campaigns and helps you measure their effectiveness. The platform should provide data on metrics such as engagement rates, audience demographics, and brand exposure.
- Contract Management: Contract management is an essential component of influencer marketing. The platform should have a system that helps you manage contracts and agreements with whoever you choose. Things like payments, deliverables, terms and conditions.
- Collaboration Tools: Collaboration tools are essential in influencer marketing as they allow you to work with influencers seamlessly. The platform should have features such as collaboration boards, shared calendars, and task management tools to ensure smooth communication between your team and the influencer.
- Social Media Integration: The platform should integrate with the (other) popular social media platforms to help you reach a wider audience.
Other Factors To Consider
When you do not have many options it seems easier to make a decision. There are a few platforms that influencer marketing specialists love: Pinterest, YouTube, Instagram, Facebook, and TikTok. It is very rare to see other websites and apps involved in influencer marketing. However, some industries may have specific requirements and invest in other platforms, such as Twitch.
Here are some factors that can help you choose the right influencer marketing platform:
- Target Audience: your audience is the first indicator of the best platform for influencer marketing. Choose a media channel where your buyers engage the most.
- Campaign Goals: think about the goals of your campaign and check how available options can fit into your strategy
- Data and Analytics: there are many platforms but not all of them provide insights, data, and analytics tools. Make sure you choose the one that allows you to dig into the performance data.
- Budget: some platforms charge a fee while others are free, so choose one that fits your budget.
- Influencer Selection: if you are looking for a platform other than the Big 5 we just listed above, make sure that there are enough influencers to choose from.
- Ease of Use: don’t go with the overly complex apps and platforms that make it hard to work and collaborate with the influencers.
Types of Influencer Marketing Platforms
Most of the platforms for influencer marketing are social media channels. These social media networks were not created for influencer use. Many more types of platforms offer the same features or more advanced tools for your marketing goals. You may give them a try if your campaign allows more freedom. These are the main platform types:
- Dedicated Influencer Marketing Platforms: These platforms are designed specifically for influencer marketing and provide a range of tools and features to help brands and influencers connect and collaborate.
- Social Media Platforms: Some social media platforms such as Instagram and YouTube provide features for influencer marketing, including influencer discovery and campaign management tools.
- Influencer Marketing Agencies: These agencies work with brands to plan, execute, and manage influencer marketing campaigns. They often have a large network of influencers and offer a full-service solution.
- Influencer Marketing Software: This type of platform provides tools for influencer discovery, campaign management, and performance tracking. It is ideal for businesses that want to manage their influencer marketing campaigns in-house.
For Small Businesses:
Small businesses have limited options when it comes to influencer marketing. However, fortunately for them, the majority of social media channels suit perfectly well for small budgets. Other than Instagram, Facebook, and other similar platforms, here are the best options for small businesses:
- AspireIQ: a self-service platform that connects small businesses with influencers. The platform is famous for its diverse portfolio of influencers. You can find your collaborator from any niche or industry and get access to their contact info easily
- Tapinfluence: this is a multiservice platform that combines different tools assisting in communication with influencers, managing campaigns, and measuring results.
- Traackr: targets small businesses and agencies that want to improve their influencer marketing strategies. It is another all-in-one platform offering all necessary services for influencer marketing.
Influitive: a cloud-based influencer marketing platform that helps small businesses connect with influencers, manage campaigns, and track results. It is best suitable for analytics and performance tracking.
Social Media Platforms
Social media is probably the best choice for influencers, as well, as for marketers. They have the largest audience reach and can dictate the flow of campaigns in a natural way. Nearly every brand has a strong presence on social media, which makes it easier for them to communicate and collaborate with influencers. At the same time, almost every influencer has a social media account with thousands of followers.
Social media is also the best method for getting prospects engaged. Buzz marketing and emotional marketing are the two of the most frequent techniques that influencer marketing on social media combines.
There are many different types of platforms to choose from, but some of the most popular ones include Facebook and Instagram.
- Instagram: most popular platform for influencers and marketers. Instagram focuses on connecting brands with influencers who have a strong presence on Instagram. Great for niche, especially visually focused, or visual-focused ad campaigns.
- TikTok: TikTok is the largest player in influencer marketing. It is becoming more and more dominant with hundreds of influencers being born on the platform. The short-form video content is perfect for influencer marketing purposes, which makes TikTok very attractive to digital marketers.
- YouTube: YouTube is an old friend of marketers. The best thing about YouTube is that it keeps on growing and keeps up with the new trends. YouTube Shorts is one of the most common tools used by influencer marketers and resembles TikTok marketing techniques, a lot.
- Facebook: helps brands find influencers who have a strong following on Facebook and can help promote products and services through their posts. Great for affiliate marketing.
- Twitter: helps brands find influencers who have a large following on Twitter and can promote products and services through tweets and retweets. Great for tech niche.
- Snapchat: very rarely used for influencer marketing. However, Snapchat helps brands collaborate with influencers who have a strong presence on Snapchat and can promote products and services through snaps and stories.
- Bloggers: those who have their own websites or blogs on shared, public websites. They serve very specific niches and audiences. Brands, such as publishing companies, connect with bloggers who have a large following and can promote products and services through their blog posts.