The Best 10 Influencer Marketing Platforms You Should Know

Discover the Best Tools to Boost Your Influencer Marketing Strategy in 2023

Brands have found a way to promote their products and services through influencer marketing. By joining forces with these influencers and content creators, businesses can reach a large number of followers ensuring that they engage their target audience and boost their profits.

In today’s marketing landscape, many brands have incorporated influencer collaborations into their marketing strategy. With the industry expected to reach $21.1 billion by 2023 it comes as no surprise that 83% of professionals surveyed consider it a powerful promotional tool.

SOURCE: Social Media Industry Benchmark Report, RIVAL IQ, Apr 2023.

At present, Instagram remains the top choice for influencer activities. Based on eMarketer's data, an impressive 76.6% of US marketing experts are set to use Instagram for their influencer campaigns in 2023.However, let's not underestimate the potential of TikTok.

In 2020, only 36% of US marketers used TikTok for influencer campaigns. However, by 2023, nearly 50% anticipate doing so, making TikTok the third most sought-after platform for influencer engagement.

Source: eMarketer

What do Influencer Marketing Tools offer?

This new marketing landscape comes with its challenges, from identifying suitable influencers to managing campaigns and evaluating their effectiveness. Here's where Influencer Marketing Tools come into the picture. 

But, how can they transform your influencer marketing efforts?

Discovering influencers: Use these top influencer marketing tools to identify influencers across different social media platforms according to demographics, industry, followers, engagement metrics, and more. This is invaluable in an environment where there can be thousands of potential influencers that suit your brand.

Evaluating influencers: These tools can provide analytics and insights into an influencer's past performance. This helps in determining if the influencer is a good fit for your brand and campaign.

Campaign Management: The best Influencer marketing tools often offer features for managing campaigns. These can include organizing and tracking different influencers in one campaign, managing content calendars, overseeing approvals, etc.

Tracking and Analytics: One of the key components of any marketing effort is the ability to track the performance and measure the ROI (Return On Investment). These tools can provide detailed analytics on campaign performance, engagement, conversion rates, etc.

Relationship Management: The best-in-class influencer marketing platforms often include CRM-like features to manage relationships with influencers, facilitating communication, contract handling, payments, and more.

Why Use Influencer Marketing?

For brands, it not only drives social media engagement on their brand channels, but it can also improve website traffic and foster a connection with targeted audiences. Almost half of people (49%) say they rely on recommendations from influencers when making purchasing decisions, highlighting the impact that influencers can have on driving sales. Additionally, 67% of those strategizing for influencer marketing anticipate boosting their budget for 2023.

In an era where consumers pivot towards trust-based purchases, influencer marketing becomes increasingly vital, in establishing connections between brands and their desired audiences.

When searching for the influencer, for your brand it is crucial to take factors into account. This selection holds the key to a highly successful campaign. 

Here are three important aspects of influencer marketing that you should consider when selecting the influencer that best fit your campaign: 

Relevance: this is a factor as it directly influences how consumers perceive your brand through the lens of influencers. It's crucial to find influencers whose niche aligns perfectly with your brand ensuring an integration that resonates authentically with your target audience.

Reach: this is one of the pillars on which many brands build their strategies. In essence, reach refers to the size of an influencer's audience. How many individuals regularly view their stories? How extensive is their follower count? Reach plays a role, in maximizing campaign exposure and serves as an indicator of an influencers popularity.

Resonance: Monitoring influencers' engagement rates stands as one of the most effective techniques to gauge resonance. When an influencer's content resonates strongly with their audience, it ignites genuine connections and fosters lasting impact.

By combining relevance, reach, and resonance, you significantly boost the chances of an influencer creating content that not only reaches the target audience but also profoundly influences them.

With so many influencers and tools available in the market, navigating this landscape can be quite challenging. In this article, we'll be exploring the top 10 influencer marketing tools and their pricing to help you make an informed decision when it comes to planning your influencer marketing campaigns.

4 Benefits of Using Influencer Marketing Platforms

Using Influencer Marketing platforms can bring several advantages to brands.

One of the benefits is that these platforms assist in identifying the most relevant influencers who align with your brand and target audience. This ensures authenticity in collaborations, boosting trust and credibility in the conveyed message.

The top Influencer marketing tools provide estimates or insights into influencers' performances, such as their previous brand partnerships, campaign portfolios, performance metrics, reviews, and more.

Another important advantage is the expansion of your brand's reach to new audiences and markets. Influencers typically have engaged followers, offering brands the opportunity to reach potential customers more effectively.

These are our  4 key benefits that should be considered when selecting an influencer marketing platform:

Communication: Stay in touch with influencers quickly and easily. You can efficiently send reports, contracts, approve content and manage all aspects of your collaboration with influencers efficiently.

Time-saving: These influencer marketing tools allow you to automate the search for the best influencers for your campaigns. All these platforms offer filters that help quickly find what you're looking for.

Reporting: One of the best features of these platforms is their ability to measure and analyze results. With a dashboard at your disposal, you'll have access to all the information you need to evaluate the effectiveness of your campaign. It enables you to make necessary adjustments and guide your decision making process in the future.

Budget-friendly: By utilizing filters, you'll find the ideal influencer that aligns with your brand and budget. An important detail is that these platforms verify the authenticity of influencers, safeguarding against any potential fraud.

Incorporating the best influencer marketing platform for your needs or exploring some of the top influencer marketing platforms available, can empower your team , to establish meaningful connections with influencers, efficiently manage campaigns, and measure the success of their marketing efforts.

The best  10 Influencer Marketing Platforms

Our list of best 10 Influencer Marketing tools we have selected for this article were chosen based on their popularity, ease of use, features, and pricing. These tools offer a range of services, from connecting brands with influencers and creators to providing analysis and tracking tools to help improve the ROI of influencer campaigns. Each tool has been compared to other popular influencer marketing tools in terms of pricing and features. We've also considered factors such as user reviews and ratings, customer support, and integrations with other marketing tools.

• Affable

Affable is an influencer marketing platform powered by AI. It offers tools for measuring link clicks with Bitly, creating unique discount codes for influencers, and measuring the sales generated by each influencer with Shopify. Affable works with influencers across Facebook, Instagram, TikTok, and YouTube. Pricing is available upon request.

• AspireIQ

AspireIQ is a platform that facilitates connections between brands with influencers/content creators for marketing campaigns. It offers social listening tools, as well as analysis and campaign tracking to improve ROI. AspireIQ works with influencers across all major social media platforms. Pricing is available via a proposal.

• Creator

Creator works with influencers across TikTok, Instagram, YouTube, Twitter, Twitch, and Pinterest. Creator offers insights into impressions, reach, engagement, and estimated media value (EMV). Pricing information is available on their website.

• CreatorIQ

CreatorIQ helps brands find, manage, and track influencers for their marketing campaigns. It collaborates with influencers across TikTok, Instagram, YouTube, Twitter, Twitch, and Pinterest. CreatorIQ offers insights on impressions, reach, engagement, EMV, and more. Pricing is available upon request.

• GRIN

GRIN is an influencer marketing software that allows brands to manage and execute campaigns with influencers. It offers tools for finding, hiring, paying, and evaluating the performance of influencers. GRIN works with influencers across Facebook, Instagram, and TikTok. Pricing is available upon request.

• Heepsy

Heepsy is a platform that helps brands find and analyze influencers on Facebook, Instagram, TikTok, and Twitch. It provides insights into audience demographics, like age, gender, and location. Pricing is available on their website.

• HypeAuditor

HypeAuditor is a data analysis platform that helps brands analyze the authenticity and quality of influencers' followers. It also provides insights into competitor analysis and engagement metrics. HypeAuditor works with influencers across Instagram, TikTok, and YouTube. Pricing is available upon request.

• Infludata

Infludata helps brands find and contact influencers across Instagram, TikTok, and YouTube. It offers tools for identifying the most relevant influencers in a particular industry. Moreover, Infludata also provides 50 KPIs for measuring the performance of influencer campaigns. Pricing is available via a proposal.

• Influence

Influence helps brands seeking influencers and influencers looking for  campaign opportunities. It offers engagement metrics for influencers on Instagram and works with influencers across all major social media platforms. Pricing is not available on their website.

• Influencity

Influencity provides a range of services that helps brands find and contact influencers on Instagram, TikTok, and YouTube. It offers tools for analyzing and measuring the performance of influencer campaigns. Brands like Samsung, Notabene, Dentsu and Kellogg's have partnered with Influencity.

The Right Influencer Marketing Platform for You

Influencer marketing is not a one-size-fits-all solution. It's essential to do your research, demos and testing, and find the right influencer marketing strategy that works for your brand. With the right influencer marketing tools and approach, you can increase brand awareness, drive website traffic, and boost sales.

When choosing the best influencer marketing tool for your brand, it's important to consider your goals, objectives, budget and desired features. The 10 tools mentioned in this article are all popular options that can help you achieve your marketing goals.

Many of the top influencer marketing platforms provide different subscription options to suit their unique needs. These subscription plans typically come in three distinct proposals, offering various features and benefits based on the agency's requirements.

This requirements will take into account factors such as the number of users permitted to access the platform within the agency, the capacity for simultaneous conversations with influencers, the amount of active campaigns they can have, and the extensive coverage of social media channels supported (including Instagram, YouTube, TikTok, and other relevant platforms).

In addition, many of these platforms come equipped with a Google Chrome extension, simplifying their usage and helping with the user experience. This extension allows marketers to conveniently access and check analytics directly from Instagram or the platform itself, making the process even more efficient.

By presenting a diversified selection of subscription plans and providing an intuitive Google Chrome extension, these influencer marketing platforms demonstrate their commitment to empowering agencies with the tools and resources necessary for success. Through these versatile offerings, agencies can efficiently manage their influencer partnerships and maximize their campaign outcomes.

At a recent Traackr Workshop on how to Improve Influencer Marketing ROI with Spend Efficiency - meaning the ability to measure your influencer marketing investment in order to maximize results we  started by defining how to measure spend efficiency and in particular:

• The importance of the Objective of the influencer content and the corresponding KPI
• The total spent throughout the campaign and the duration of it
• The cost per each influencer (cost per deliverable, usage rights)
• Any boosting investment that may have been applied
• And the performance per deliverable (views, engagement, reach, clicks)

Source: Traackr, inc.

From now on, when you create an Influencer Strategy, take into account the objective, the budget, the audience, the platforms, the costs, the estimated performance. 

So, whether you're a small startup or a large corporation, influencer marketing can help you reach your target audience and achieve your marketing goals. With the right tools, you can build relationships with influencers, measure the impact of your campaigns, and stay ahead of the curve in this rapidly evolving industry.