In this video, I talk about the differences between influencer software for consumer and B2B brands. I highlight three software vendors—Traackr, Onalytica, and Audiense—and walk through my favorite functionality for each. Since recording this video, these three vendors have released additional capabilities. I’ve also been talking with Tagger, which has an impressive social listening feature for influencer content called Signals.
Things to consider before purchasing influencer marketing analytics software
The last time I checked, there were 30 different influencer marketing software vendors in the space. The challenging part is that there is very little differentiation between the features and capabilities that they offer to their customers. Here are a few key considerations I would think about before signing a contract with the vendor:
- Licenses: If you work for a large company or an agency, you might need several licenses for your teams to access the platform. This can be costly as many of these vendors charge per license or seat.
- Data: A few influencer marketing software providers charge clients based on how many influencers or creators they have in their database. Most of them also allow you to recycle influencers as soon as a campaign is ended. For example, there might be a limit to tracking 100 influencers at any given time. If you have a campaign with 75 influencers as part of that program, you would only have 25 influencers to work with. Once that campaign is complete, you can delete influencers from the database and start fresh. I see this as a problem for agencies working with several clients.
- Discovery: Most influencer analytics tools and platforms use different methods for influencer discovery. On the surface, I would say that most of them are similar. So depending on the goals and objectives of your program, you should drill down to understand how often new social media influencers and creators are added to the database and how they can be discovered.
Remember, not all software for influencer marketing is created equal, so you must do your own diligence and make sure you partner with those that add value to your business.
Here’s a more in-depth write-up of the influencer marketing software vendors on the market.