Influencer Marketing Platform: Introduction
- Influencer marketing is the newest popular form of marketing. It helps brands to sell their products and services to social media platform operators.
- An influencer marketing platform is software designed to provide influencer discovery tools and assist brands with their influencer marketing platform.
- Many marketers and brands use the influencer marketing platform to expand their campaign. They platform help with a wide scope of activities from influencer discovery to tracking the advancement of a campaign.
- Influencer marketing platforms minimize the effort, and saves time taken to scout the influencer on social media. On the other hand, it provides a huge list of influencers with their statistics.
- The platform helps to set up and manage a campaign easily. It tracks the progress of the campaign, and generates a detailed report about the campaign.
- Influencer marketing has several benefits such as it is highly focused and relevant, provides value to the target audience, assists in quicker customer acquisition, boosts SEO, and increases brand awareness.
- Influencer marketing platforms can be useful for start-up brands or those that have been struggling with gaining traction in their social media marketing.
- Some influencer marketing platforms focus on a particular platform such as Instagram, Snapchat, or YouTube; however, the majority operates on different social media channels.
- The global influencer marketing platform market is expected to expand during the forecast period due to the growing deployment of CGI-based influencers and increasing digitalization across the globe.
Global Influencer Marketing Platform Market: Dynamics
Global Influencer Marketing Platform Market: Key Drivers
- Increasing interest in video-based content among the population is the essential driving factor of influencer marketing platforms. Video consumption increased tremendously in the last few years due to increasing 3G, 4G, and 5G smartphones, and is likely to be a growth factor of the global influencer marketing platform market.
- Increase in adoption of ad-blocking software, the need to develop a brand image, and need for big data analytics are some additional factors driving the influencer marketing platform market globally.
- Simple accessibility of high speed and affordable internet service for clients offers marketers another channel to contact the target audience, which has led to an increase in the growth of the influencer marketing platform market.
- Presently, various sectors are focused on implementing new advanced technologies, which are projected to create opportunities for the influencer marketing platform market during the forecast period.
- However, lack of awareness about technologies, less influence of campaigns, etc., are some restraining factors that may challenge the growth of the market.
Impact of COVID-19 on the Global Influencer Marketing Platform Market
- The COVID-19 pandemic has a positive effect on influencer marketing platforms and has resulted in significant increase in adoption of these platforms.
- In a lockdown, various sectors promote their businesses on a cost-effective advertisement medium that is a social media platform. Hence, increase in adoption of such platforms for marketing strategies expands the growth of the global influencer marketing platform market.
North America to Hold Major Share of the Global Influencer Marketing Platform Market
- The global influencer marketing platform market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the global influencer marketing platform market due to large number of COVID-19 cases that resulted in work from home, and increase in adoption of social media for promoting products and service. Additionally, the North American region has talent pools that are based on AI-based analytics, digital marketing, and platform development, leading to the growth of the influencer marketing platform market.
- The market in Asia Pacific is expected to grow during the forecast period due to an increase in adoption of advanced technologies, rising social media users, etc. across countries such as China, India, and Japan.
- The growing implementation of ad-blocking solutions by users across Europe and Asia Pacific is a growth factor for the influencer marketing platform market.
Global Influencer Marketing Platform Market: Competition Landscape
- Various local, regional, and global companies are active in the influencer marketing platform market with a strong presence.
- Rapid technological advancement offers opportunities in the global influencer marketing platform market.
- Many competing companies drive innovations and adopt digital transformations through market leaders and emerging players.
Key players operating in the global influencer marketing platform market include:
- Impact Tech, Inc.
- Linqia, Inc.
- IZEA Worldwide Inc.
- JuliusWorks, Inc.
- Quotient Technology Inc.
- Traackr, Inc.
- ExpertVoice Inc.
- Fourstarzz Media LLC
- Talent Village Ltd
- Tagger media Inc.
- Blogmint Inc.
- Upfluence Inc
Global Influencer Marketing Platform Market: Research Scope
Global Influencer Marketing Platform Market, by Component
- Support and Maintenance
- Deployment and Integration
Global Influencer Marketing Platform Market, by Application
- Campaign Management
- Search and Discovery
- Influencer Relationship Management
- Compliance Management and Fraud Detection
- Analytics and Reporting
Global Influencer Marketing Platform Market, by Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Global Influencer Marketing Platform Market, by End-user
- Retail and Consumer Goods
- Fashion and Lifestyle
- Health and Wellness
- Agencies and PR
- Banking and Finance
- Travel and Tourism
Global Influencer Marketing Platform Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.