10 Things to Look for in an Influencer Marketing Platform
An influencer marketing platform can help you manage your influencer activations and measure the results. It houses all the data and tools you need in one convenient location so you can provide a seamless experience for your influencers while also tracking performance and ensuring the success of your campaigns.
A basic search for influencer marketing software will return list after list of the “best” influencer marketing platforms. But how can you really evaluate which software is the best for you?
Read on for our guide to the ten essential elements that any influencer marketing software should have.
Influencer marketing software should streamline your entire workflow, from finding influencers to tracking posts and generating reports.
Using influencer marketing software is more budget-friendly than hiring an agency and much faster and more efficient than manually managing campaigns yourself.
Every influencer marketing software is different, including what social platforms are supported.
How to Manage Your Influencer Marketing Campaigns
If you are working with influencers, you need a strategy for managing your influencer contacts, tracking deliverables, and collecting campaign data. Here are the three most common approaches to managing your influencer campaigns:
Manual processes incorporating email, spreadsheets, and screenshots of social media analytics can certainly be a low cost way to manage campaigns, but it’s the most time consuming and can be difficult to know how well your campaign is performing.
Agencies handle all of the necessary work on your behalf. This is a great option for larger companies that have more complex marketing needs, but keep in mind that it’s often more expensive than managing campaigns yourself.
Influencer marketing software helps you save both time and money by automating most manual tasks and centralizing all your campaign data in one central platform.
How to Evaluate Influencer Marketing Software
Here are ten ways to assess an influencer marketing software’s compatibility with your business.
1. Ease of Set Up and Use
If you want to save time by using software, it needs to be easy. Otherwise, you might spend more time figuring out how to manage your campaigns through the platform than manually managing the same tasks.
There are several ways to identify if an influencer marketing platform is easy to use. Do you find the user interface simple to navigate? What have other users said about the software in their reviews? Are there any training materials available?
You also want to ensure that the influencer marketing software you choose has a team of experts ready to help you. When you run into issues or experience a technical error, you want to receive quick support.
2. Free Trial or Demo
The best way to know if an influencer marketing platform matches your company’s needs is to try it out. If a platform doesn’t offer a free demo or trial period, then you should probably move on. There are plenty of other quality options that will let you see how the platform works before you make an investment.
Free demos are a show-and-tell format where an expert walks you through the software to explain how it works.
Free trials let you use a platform for a short time so you can evaluate the software for yourself.
3. Focus Aligned with Your Marketing Goals
Not all influencer marketing software is equal – which is a good thing. If software tries to do everything, it won’t have the capability to focus on one specific task and do it exceptionally well. Keep this in mind as you search for your ideal influencer marketing software so you can prioritize quality of features over quantity.
Begin your search by first understanding your company’s needs. For example, what type of influencers do you want to work with? Which platforms are most important to reach your target audience? How will you measure the ROI of your influencer initiatives?
Next, identify software that is compatible with those needs. And be sure to consider how your needs may evolve in the future. You may, for instance, initially prioritize working with influencers on Instagram but later decide to expand onto TikTok. If this is a possibility, you want to plan for it upfront in order to avoid having to migrate all your data to a new influencer marketing platform down the road.
4. Intuitive Influencer Search
There are more than 50M creators across TikTok, Instagram, and other creative platforms. However, not all of them are relevant to your brand or reach your target audience. That’s why an influencer marketing platform with an intuitive search tool is critical; it can save you hours of time by identifying the best influencers based on your defined search criteria.
5. Valuable Marketing Data
The influencer marketing software you choose is more than just a way to connect with influencers. It should also provide essential insights into the effectiveness of your marketing campaigns. Companies see five to eight times as much ROI when using data-driven strategies than those who don’t.
Some of the key metrics your influencer marketing software should gather include:
Influencer follower counts
Content reach, impressions, and views
Total engagements and engagement rate
Return on investment
Audience demographics break down the age, gender, and location of an influencer’s viewers, helping to ensure that your campaign reaches your desired audience. Additional campaign performance data like impressions and reach, engagement rate, and overall ROI allows you to measure the effectiveness of your influencer content and optimize campaign performance in real time.
6. Multi-Platform Support
Unless you are a small business, you will probably work with several influencers across multiple social media platforms. If you are an agency, you will have multiple clients, each with their own influencer initiatives.
For your campaigns to be successful, you need influencer marketing software that supports multiple social platforms and simultaneous campaign management. Before choosing a solution, be sure to check what limitations or campaign restrictions they impose to make sure your expected usage is aligned with the software’s capabilities.
7. Available Features
You want your influencer marketing software to meet all of your needs, from finding influencers to tracking sponsored posts. Make sure all the features you need are included in the quote to avoid having to purchase software add-ons.
Here are a few features that your influencer marketing software should include:
Influencer search and discovery
Most influencer marketing platforms will charge a monthly or annual subscription fee. Be sure to compare the cost to what features you will receive and decide whether those features are worth the price.
For example, manually searching for influencers costs you hours of time and may only offer limited results. In this case, investing in influencer marketing software can not only save you time but also match you with the best possible influencers to deliver significant ROI – making it a worthwhile investment.
9. High Ratings from Multiple Customers
A company’s website can highlight key product features, but customer reviews tell you the full story. Want to find out how reliable and accurate the software is based on real users’ experience? You can easily track down product reviews by performing a Google search for “Company X software reviews.”
10. Notable Customers in Your Industry
Many software companies will list some of their most notable customers. Such customer references are another way to evaluate their reputation.
You can also use an influencer marketing platform’s customer list to evaluate if they’re a good fit for a company of your size or in your particular industry. For example, an influencer marketing agency looking for a platform that supports multiple clients will have vastly different needs than a large brand managing its influencer marketing efforts in house.
Ready to put these criteria to the test?
Schedule a demo to see Paladin in action and speak with an expert about what features we offer.