With the rapid evolution of the influencer marketing space, there are many tools that both influencers and brands can tap into to create better relationships. Let’s be honest, it’s important for both influencers and brands to find the best solutions when it comes to working together and bring in business.
Brands can run their own ambassador program with the old-school spreadsheet database. However, it can be time-consuming and overall confusing.
On the other hand, being an influencer can be complicated and time-consuming as well.
The steps to complete an assignment can be endless – you have to be approached by a brand, negotiate a price, exchange info and product, create content, review and revise, and then maybe get paid.
If you do not have the time for such an option, or you are looking to supercharge your strategy, outsourcing may be the best solution. For good or for bad, the industry is now booming with different platforms and solutions that can appeal to both parties – however, decision paralysis may happen in these cases.
Every new solution swears to be the most incredible influencer marketing platform or the next best influencer marketplace.
What’s the best solution for your needs? Let us help you find that one out.
Are you getting started with influencer marketing? Find out more information about that here
What is an Influencer marketing platform?
Influencer marketing platforms are full-service solutions that allow brands (and agencies) to run influencer campaigns from A to Z. These tend to be relatively small (quality over quantity) and will usually provide high support level – however, it can be hard for influencers to join the platforms (and the price tag for brands is much higher!).
What to look for:
- A clear and effective signup solution for influencers looking to join the platform
- An easy to use and reliable analytics and ROI solution
- Very clear communication system and payment terms
Influencer pros and cons: because influencer marketing platforms are full-service solutions, they provide influencers with tools that allow them to easily manage all parts of the collaboration and they protect the influencer when it comes to creative licence and payment. Unfortunately, the number of opportunities is much lower than marketplaces.
Brand pros and cons: Most platforms allow brands to easily communicate with influencers as well as creating contracts and reviewing content, all the way to payment (again, it does depend on the individual platforms). Analytics such as impressions, media value, and other metrics allow brands to gather insight and apply learnings to future campaigns.
Influencer marketplaces tend to be software that either collect or list influencers across social media (this can either be via invite or via an agency affiliated). Brands can then filter through thousands of influencers by demographics such as gender, content type or location.
Do not be fooled by the name: if you come across an influencer database or network, chances are they will be also marketplaces.
What to look for:
- A basic vetting system for influencers
- Insurance of real followers and engagement check
- Tools necessary to manage all aspects of influencer relationships
Influencer pros and cons: Influencer marketplaces aim to provide brands with as many search results as possible. If a brand chooses influencers solely based on follower count, for example, you may end up with either load of opportunity or none at all, regardless of the quality of content. Going for smaller marketplaces with better brands that reflect your interests will save you time.
Brand pros and cons: Influencer marketplaces only provide brands with a very, very long list of people to skim through, unless you choose a specific niche such as the on Whole Influence. Brands are still required to manually manage other aspects of the collaboration process using email and spreadsheets.
So which solution is right for you?
Ultimately, the best option for you is to do your research and go with trusted sources.
In order to create a more democratic space in health and wellness, we personally created our very own marketplace, Whole Influence, to support both influencers and brand and foster better relationships between both parties.
By focusing on health and wellness only, the hope is that this will urge companies to engage with the health and wellness community to create more opportunities. This could lead to more authentic endorsements and great eye-catching content that will resonate within the community.
Empowering influencers to work with brands they love at their own terms. Influencers can manage their campaigns and projects within one all-inclusive solution, as well as pitch themselves for the latest opportunities.
The marketplace allows brands to chat with influencers within the platform, arrange terms of the campaign, discuss future commitments and build relationships. It enables them to find, negotiate, manage and measure campaigns in a consistent and transparent way through one dashboard – all with an easy pay-as-you-go solution.
We streamline the whole campaign process so you no longer need to search for influencers across various influencer agencies and different technology platforms – you can find out more info for brands and influencers (you can also check our FAQs here).