Many influencer marketing platforms were started in the form of social media engagement trackers. Their services evolved over the years, and they sniffed the opportunity to become a full-fledged influencer marketing agency from a mere tracking platform.

The Origin

It is natural for humans to get influenced. We humans get influenced by our parents and elders at home and outside by our friend circle and circumstances. Personality traits, which are easily or barely influenced by people, situations, etc., have always been an interesting area of ​​research for marketers. According to the traits, marketers plan the promotional/advertisement campaign and execute. Here we must remind ourselves the 7 Ps of marketing mix include product, price, promotion, place, people, process, and physical evidence. The influencer marketing platform majorly deals with people and places or platforms. As technology continues to evolve, the medium or platform is also becoming more and more sophisticated. Now smartphones have become the most important human companion through which marketers can easily reach their target customer anywhere, anytime. Let us see how influencer marketing platforms are becoming the most preferred medium for marketers in our next section.

What is an influencer marketing platform?

No matter how great a product you make, if it doesn't reach your right customer, it may never become a part of your revenue. Influencer marketing platform provides a very effective opportunity especially to launch new products and gauge the popularity of existing products. Influencer marketing platform connects content creators and brands with each other. Here Content Creator can mean anyone from Super Celebrity to Micro-Influencer who has a large number of followers on a particular social media channel like Tiktok, Instagram, YouTube, Facebook, Twitter, Pinterest, Twitch, Blog, etc.

Brands get an immediate audience if these influencers promote through their social media handle(s). Thus, celebrity fandom can give brands much-needed potential buyers that regular advertising mediums hardly offer.

Influencer marketing platform maintains a public database of influencers and content creators. Brands that are looking for influencers register themselves to this platform and post their products or services requirements. Any influencer that finds themselves suitable for that campaign contacts the brand or influencer marketing agencies that provide end-to-end services contact brands on behalf of the influencers.

Services offered by influencer marketing platforms

Different platforms offer different sets of services, I'm going to name a few that may be common to all.

1. Find an Influencer:

Finding the appropriate influencer for a brand who is suitable for a certain product. This can include Keyword Search which searches Creators with keywords that match their names, social handles, tags, and other attributes. The search can be the further refined basis of audience segmentation.

2. Connect with Influencer:

If a content creator or influencer is found in the first few attempts, the brand may take the necessary steps to engage the influencer, either through an agency or directly. But if marketers aren't sure exactly which influencer to go with, they can set up projects to receive bids and move on with influencers that meet their product needs and of course the budget.

3. Create your Project

Once the influencer(s) is finalized, the brand/marketer can send him/her a brief description of the project. A project can be a set of smaller projects with predefined goals. In project brief brands can specify a description such as which hashtag, image, tagline, etc. is to be shared with the audience. A legal contract is also shared and discussed at this stage.

4. Pay the Influencer

After the project is finalized and ready to be delivered, the brands can pay the influence in full or parts as per their contracts. Funds are generally held in escrow until content is fully verified, finalized, and agreed upon by the brand.

5. Launch the Campaign

Once the project meets all the criteria for the brand, it is distributed through the social media handles of the Influencer. We often see celebrities on Instagram or Twitter promoting apparel, luxury brands, etc., which are part of an influential campaign and are entirely directed by the brands themselves.

6. Analyze the Influence

Leading Influencer Marketing Platforms

The report provides an in-depth analysis of Influencer Marketing Platform market which is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants

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