What is an Influencer Marketplace?
There are roughly 45 million influencers on Instagram, and around 2.5 million of them deal with YouTube. Every day, these creators promote brands across social networks, talk up great products, and directly affect how people spend their money.
Sounds good, right? There’s just one problem. It’s actually quite hard to find a fit influencer to grow your business.
Whether you’re digging through social media platforms for ideas, or spend hours pitching creators, it’s a lengthy procedure. In fact, according to Mediakix, 60% of marketers struggle to find the best influencers for their projects.
What’s the answer? You need a more effective way of sourcing influencer skills and making connections. Influencer markets can assist you to do just that, so let me show you how they work.
What is an Influencer Marketplace?
Influencer marketplaces match brands with influencers working in their niche; whether it’s beauty, fitness, food, and so on.
It’s quite straightforward. You sign up and post a brief explaining the services you’re searching for and wait for influencers to respond. If you find an influencer you’re happy with, you can hire them to create content, promote your brand, and, yes, influence people to buy your items.
You’re not limited to one influencer, either. You can work with several influencers throughout the platform, and you can hire more as you go. The upshot? Whether you’re running a one-off product project or you’re searching for a more stable relationship, influencer marketing could work for you.
A few of the more popular influencer marketing platforms include:
It’s common for influencers listed on markets to work across two or more social media platforms. For businesses, this is great news since you can use one or two trusted influencers for all your content marketing.
Upfluence, for example, primarily sets businesses with Instagram influencers, however, there’s some scope to gain access to influencers dealing with TikTok and Facebook, too.
While HypeAuditor matches you with influencers working throughout the platforms such as Twitch and YouTube: There’s a substantial series of markets out there, so make sure to evaluate your options.
Why Influencer Marketing?
Addressing the question, I would encourage you to see it as a financial investment first of all. It’s the investment in brand building. Though a lot of small companies believe that brand is self-regulated and, what is worse, favorable by default, it is not so. In reality, it is needed to work on it day after day and invest in it. Influencers are the most trusted and foreseeable way of investment in a great and bright brand image.
The trust between the audience and the influencer is what influencer marketing is all about, and this trust is wrapped by the attention and time individuals are ready to spend communicating with the influencers they follow on Instagram.
More than that, influencer marketing is associated with a high level of consumer engagement: an active interaction of users with the brand, and their interaction with the business through influencers.
The engagement rate influencers enjoy cannot be overlooked. What exactly is the engagement rate in the first place? It’s the degree to which a consumer connects with the brand before or after the consumption of an item or a service. Simply put, it’s the degree of the client’s mindshare or the time and attention she is ready to offer to the product. Engagement is the basis of psychological connection with the brand and the guarantee that the customers will choose the same item next time when they need to choose.
Influencer marketplaces make it simple to match influencers and promoters who can help grow your business and build hype around your items. That said, these markets aren’t for everyone, and you might choose to curate your list of influencers and reach out to them directly.
Spend some time evaluating the different marketplaces before you commit to a membership, and remember to keep a close eye on your metrics to ensure your influencer partnership is working for you.