Best Influencer Marketing Platforms

Yukta Rustagi
YR
Researched and written by Yukta Rustagi

Influencer marketing platforms provide organizations with an end-to-end solution for discovering social influencers, managing influencer-generated content, and analyzing influencer marketing campaigns. This type of software enables brands to tap into new acquisition channels and promote new products or services through partnerships with celebrities, content creators, micro-influencers, and brand ambassadors. Influencer marketing platforms are most frequently used by marketing and advertising teams in consumer goods industries like retail, fashion, and beauty, as well as e-commerce businesses and direct-to-consumer (DTC) brands.

There are two distinct methods for sourcing influencers through an influencer marketing platform. Some vendors provide a large, searchable influencer database that contains information about verified influencers across multiple social networks. These products often use artificial intelligence to analyze influencers and their audiences. Other providers grant access to a private, opt-in network of social influencers who want to partner with brands. Regardless of the sourcing method, both types of influencer marketing platforms allow businesses to filter through influencers by establishing detailed search criteria. Marketers can then use built-in collaboration and content management features to communicate with influencers, manage influencer-generated content, and analyze the performance of social influencer campaigns.

Influencer marketing platforms are often implemented to support other social media marketing software. Some influencer marketing solutions may offer features of user-generated content software or customer advocacy software to help brands leverage social proof and convert existing advocates into social influencers.

To qualify for inclusion in the Influencer Marketing Platforms category, a product must:

Provide tools that enable users to search for social influencers within an influencer network or across social networks
Allow users to filter through and segment influencers according to a series of factors
Offer campaign management and communication tools with which users can communicate and manage influencers
Provide a dashboard through which users can visualize and evaluate influencer campaign performance
Facilitate importing and exporting of influencer data, including contact information
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Best Influencer Marketing Platforms At A Glance

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Learn More About Influencer Marketing Platforms

What are Influencer Marketing Platforms?

Influencer marketing software is an important solution for any organization that invests heavily in influencer campaigns. Influencer marketing is a social media marketing strategy that aims to build mutually beneficial relationships between brands and individuals known as “influencers." In social media, an influencer is anyone with the power to impact the buying habits or actions of others through their expertise, authority, or relationship with their audience. Brands also often refer to their influencers as ambassadors or creators.

Influencer marketing platforms offer a variety of tools that streamline most or all aspects of the influencer marketing process. The most common features include influencer discovery, campaign management, and campaign analytics. Some solutions enable businesses to identify the most relevant influencers across social media while others maintain a proprietary marketplace of content creators. In addition to discovery, marketers can leverage communication and automation tools to manage their relationships with creators, as well as analytics features to measure the performance of their influencer campaigns.

Key Benefits of Influencer Marketing Platforms

  • Increase social reach across all desired channels
  • Improve brand awareness
  • Build trust across target audiences
  • Evaluate, plan, and manage influencer marketing efforts for future success
  • Leverage social channels and influencer marketplaces
  • Identify the most relevant and helpful influencers
  • Curate user-generated content
  • Analyze performances of influencer campaigns

Why Use Influencer Marketing Platforms?

Influencer marketing can be an extremely effective strategy for building brand awareness, generating sales, and even promoting consumer trust. In general, people are more likely to accept product and service recommendations from someone they already know. Many influencers have highly engaged followers who like and admire them; with influencer marketing software, businesses can partner with the right influencers to reach those audiences.

Influencer recruitment — Influencer marketing software is designed specifically to help users reach out to influencers. These platforms either allow users to sift through influencer marketplaces or scan social media channels. The software identifies which influencer is the best match for a company’s brand and campaign initiatives. For example, a pet product brand might wish to promote their new grain-free food to pet owners. The company could use an influencer marketing platform to discover and reach out to the most relevant influencers to partner with for a promotion—in this case, cat- and dog-focused social media accounts with large and highly engaged audiences.

Campaign management and analytics — Productive influencer marketing solutions offer built-in social analytics capabilities, which help users gauge the success of influencer-led campaigns. Brands with mature influencer marketing programs may run dozens of campaigns at a time. Influencer marketing software enables these brands to execute campaigns, communicate with influencers in their network, and measure the impact of each creator’s content. It is challenging to measure the true return-on-investment (ROI) of influencer marketing campaigns since this type of content cannot always be directly attributed to sales or leads. Most campaigns act as one touchpoint among many which contribute to a consumer’s decision to make a purchase. However, influencer marketing software can help marketers benchmark their efforts with analytics such as cost per engagement, cost per follower, and more.

User-generated content (UGC) — User-generated content is a by-product of the relationship between brands and influencers. When an influencer creates and posts sponsored content on social media, businesses can reuse that content for their own marketing purposes. For example, imagine a luxury travel brand partners with Instagram influencers to promote their line of luggage. The influencers then post photos of themselves travelling with the luggage in beautiful, foreign destinations. The brand can then use these photos on their own social channels, on their website, and in digital advertisements.

Who Uses Influencer Marketing Platforms?

Influencer marketing software is mainly used by business-to-consumer (B2C) companies, especially those that sell consumer packaged goods (CPG) such as clothing, makeup, food, and household products. It is also a popular strategy among e-commerce brands since influencer content can easily link to an online store, where consumers can purchase a product immediately.

Marketers — Within an organization, marketing teams will be the primary users of influencer marketing software. Influencer campaigns require a significant amount of attention and resources as they involve managing relationships, compensating influencers, delivering samples, monitoring engagement, measuring performance, and more. As a result, these platforms are leveraged by businesses with mature social media marketing programs.

Influencers — Some influencer marketing platforms offer brands access to a proprietary database or marketplace of influencers. Content creators can join these marketplaces to indicate their interest in partnering with businesses. These platforms often provide influencers the ability to reach out to businesses directly, negotiate pay rates, and measure their own campaign performance.

Influencer Marketing Platforms Features

Influencer recruitment — Influencer marketing software enables companies to locate and recruit social influencers, either through a proprietary influencer marketplace or through an AI-powered algorithm which searches for influencers across social networks. Recruitment tools help marketers build digital profiles of relevant influencers with information about them and their audience.

Influencer scoring — Influencer scoring features help businesses identify which influencers will be most relevant to their brand’s message or products, and help provide the most engagement. Platforms use proprietary algorithms to “score" influencers and assess their authority within a business’s target market.

Audience analysis — Influencer marketing platforms analyze the demographic and psychographic characteristics of influencers and their followers. Marketers can use this feature to understand an influencer’s brand affinities, interests, and aesthetic. For example, a beauty brand can use audience analysis to target influencers who are interested in makeup or skincare products.

Influencer segmentation — Segmentation features allow brands to separate their influencers into groups based on specific characteristics, such as their past work on brand initiatives, follower count, or campaign engagement. These tools help marketers manage groups of influencers according to the business’s needs, as well as target the appropriate creators for each campaign.

Influencer collaboration — Influencer marketing software acts as an influencer CRM of sorts, enabling marketers to maintain records of past partnerships and communications. Collaboration tools ensure all members of a marketing team can view and access their business’s past engagement with influencers so everyone is on the same page.

User-generated content (UGC) management — Influencer campaigns generate large quantities of user-generated content for brands. UGC management tools help them schedule, publish, and optimize this content for their own purposes. From a centralized platform, marketers can configure content usage and ownership rights for the various types of content their ambassadors produce.

Workflow capability — Since influencer campaigns are essentially paid advertisements, businesses need to approve the content before the influencer posts it on social media. Influencer marketing software provides workflow capabilities that allow marketers to automate the review and approval processes.

Influencer analysis — Influencer analytics features evaluate the performance of influencers and their associated campaigns. These tools rank influencers according to their impact on key performance indicators (KPIs) such as revenue, brand mentions, and contributed work.

Reporting and dashboards — Campaign analytics features are essential for measuring the success of a business’s influencer marketing strategy. Influencer marketing software allows marketers to monitor and visualize all influencer campaigns through a dashboard that displays key success metrics in real time. These platforms can also generate comprehensive reports to be distributed to relevant stakeholders.

Data importing and exporting — Import tools enable marketers to import their existing list of brand ambassadors to an influencer marketing platform. Businesses can create more detailed profiles for their influencers and manage relationships directly from the platform. Export tools allow marketers to export influencer data from the platform, such as contact information and audience analytics.

Other Features of Influencer Marketing Platforms: E-commerce integration, Influencer compensation, Influencer database, Influencer whitelisting, Opt-in network, Social commerce

Potential Issues with Influencer Marketing Platforms

Influencer fraud — As brands seek to engage with the most relevant and prominent influencers in their market, they should be wary of scams and fraudulent activity. In order to appear more influential, some social media accounts may purchase fake followers or engagement. These fake influencers pay for bots to follow their accounts, “like" their content, or comment on posts. They can then use these inflated follower counts and engagement activity to entice brands to partner with them. It was estimated that influencer fraud would cost brands $1.3 billion in 2019 alone. However, many influencer marketing platforms are incorporating enhanced algorithms to detect influencer fraud and determine if an influencer’s followers and engagement rates are genuine.