Influencer marketing is about to explode in the year 2017.
Every marketing or business site you read has a dozen new articles about how to properly leverage influencers to help market your business using influencer marketing.
What none of the sites ever discuss is influencer marketing platforms. There are dozens of platforms out there, all with various pros and cons. Not only are there dozens of platforms but there are numerous types of platforms such as:
- Full Service
An activation platform is a platform that allows you to quickly get influencers to promote your brand or product. These types of platforms can help you quickly get an influencer marketing campaign off the ground and help you build relationships with influencers.
Some types of activation platforms are structured in a way that an influencer sends you an RFP in an attempt to win your business. The downside to these sites is that you are often limited to the how many influencers that the platform has opted-in. Not only that but often these types of platform don’t have any data on influencers so it can be difficult to gauge if an influencer is a good fit.
A discovery platform is exactly what it sounds like, it allows you to discover influencers to work with.
There are not many of these types of platforms out there, due to the fact that most influencer marketing platforms rely on opting in influencers. This can severely limit the number of influencers you can discover. The only influencer marketing platform with over 3 million influencers on it is a company called HYPR. Discovery platforms work really well because they often allow you to plug in your target audience which generates a list of potential influencers who might be a good fit. These platforms often don’t allow you to activate directly on the platform but will provide contact information for the influencer so you can reach out yourself.
A full-service influencer marketing platform in most cases wouldn’t be considered an actual platform. Many of these types of “platforms” will help you run a campaign from start to finish. The issue with these types of platforms is they are actually influencer marketing agencies who manually do all the work behind the scenes.
The biggest issue with these types of platforms is that they are not made for small businesses. They often will have a minimum budget of $10,000 – $25,000.