Influencer marketplaces have nowadays become the go-to solution for brands and enterprises for everything advertisement. Globally, the market is expected to grow to $17.4 Billion in 2023. That’s a whopping 14.47% increase from 2022.
Such explosive growth can be attributed to several aspects, including the popularity of short-form video platforms like TikTok, Facebook, and YouTube, the impact of the pandemic on social media use, and the optimization of data collection for targeted advertising.
Key Trends and Stats Related to Influencer Marketing:
Collabstr is a prominent influencer marketplace where influencers showcase their content for brands to discover and collaborate. These marketplaces offer a convenient and effective way for brands to connect with influencers who are a good fit for their marketing goals and budget.
In this blog, we will review some of the top influencer marketplaces, explore how Collabster as an influencer marketplace works, go through the essential features, and mention the development steps for an influencer marketplace.
Grin is an influencer marketing platform that integrates with e-commerce platforms, offering additional features such as gifting products and tracking sales referrals.
Not available. Is priced as per individual requirements.
TikTok, Twitter, Twitch, Facebook, Instagram, YouTube
Influencers and businesses of all sizes
Upfluence is an influencer marketing platform that has evolved from a search and discovery tool to offer multiple ways to uncover new influencers and ambassadors, easy-to-use campaign tools, and a flexible social listening module.
Three levels of service – Growth, Scale, and Enterprise – with different fee categories (charged monthly).
Twitch, TikTok, Twitter, Instagram, YouTube, Facebook, Pinterest, and Blogs.
Influencers and businesses of all sizes.
Creator.co is an influencer marketing platform that offers next-level data and analytics, assistance from campaign specialists, automated campaigns, and streamlined Giveaway tools, among other big-business features for small business marketing efforts.
Two different plans –
Self-serve ($395 per month and lower as per increasing months of purchase)
Community Driven ($795 per month and lower as per increasing months of purchase)
YouTube, Instagram, TikTok.
Small and medium businesses.
LTK (formerly rewardStyle) is an influencer marketing platform that offers LTK Connect, an invite-only network of influencers with years of experience converting sales and the data to prove it.
Instagram, Facebook, Pinterest, TikTok, YouTube,Twitter, Blogs, LTK App.
Brands and influencers of all sizes.
Tribe Dynamics is not a platform for finding and engaging with influencers for marketing campaigns. Instead, it focuses on providing data and analytics to brands that already have a list of influencers and active campaigns. Its goal is to help these brands refine and improve their influencer marketing strategies while also monitoring their competitors in the market.
Three different packages (for brands) – Micro, Established, and Powerhouse. Additional customizations to plans can be done as per service preferences.
Facebook, YouTube, Instagram, Twitter, and TikTok.
Collabstr follows a simple 3-step procedure:
With Collabstr, you can search through thousands of vetted influencers on social media platforms. Collabstr verifies each influencer to ensure they are genuine and have an engaged following. You can use various filters like location, niche, and audience demographics to find the perfect influencer for your brand.
Once you’ve found an influencer you want to work with, you can purchase their services securely through the Collabstr platform. You don’t need to worry about fraud or scams, as Collabstr holds your payment until the work is completed to your satisfaction.
You can receive high-quality content from influencers directly through the Collabstr platform. The platform allows for instant communication with influencers, so you can stay in touch throughout the entire transaction.
Special Additional Features that can be added:
Fake account detection
With influencer marketing comes the worrisome possibilities of bot accounts and fake accounts. To prevent such kinds of fraudulence, the marketplace can use AI algorithms to scan influencer profiles for suspicious activity, such as sudden spikes in follower counts or unusual engagement rates, which could indicate the use of bots or fake followers.
Additionally, marketplaces can ask influencers to provide verification documents, such as a government-issued ID or a social media account with a significant following, to ensure their authenticity.
Influencer platforms can also offer various incentives to attract and retain high-quality names.
For instance, it could offer higher payouts for exceptional campaign results, provide training programs to improve influencers’ skills, and offer a streamlined collaboration process to make it easy for influencers to find and apply for campaigns, communicate with brands, and track their performance.
This can help the marketplace foster long-term relationships between influencers and brands — leading to better marketplace name spread and profitability.
Creating an influencer marketplace like Collabstr would require a well-defined and structured software development life cycle (SDLC). Here’s a critical overview of the same:
First, onboard a team with a project manager, a software architect, and business analysts. Collaborate with business stakeholders to create a project scope statement that defines the project scope and plan. We recommend you check out Collabstr’s official website for an overview of the platform. You can also checkout Upfluence, as they have a great android and iOS app.
To launch the product in the market and subsequently enhance it based on user feedback, we suggest using an MVP (Minimum Viable Product) approach.
Once the product scope is defined, select the development methodology for your project. Agile methodology is great for iterative enhancements. Choosing Agile can help you get more and more customer feedback to improve the product.
Work with the project manager and architect to determine the best development approach. We recommend using a PaaS platform for web development and an MBaaS platform for mobile app development.
Native Android and iOS apps offer the best user experience, performance, and security, but if you want to reduce development costs, you can consider cross-platform mobile development.
To build the influencer marketing software, you need to hire the following roles:
Use AWS as your managed cloud services platform. AWS Elastic Beanstalk is the PaaS platform that offers many advantages, such as managing the cloud infrastructure, networking, storage, operating system, middleware, and runtime environment. This lets you focus on web development rather than managing the IT infrastructure.
AWS Amplify is the MBaaS platform that handles cloud infrastructure, persistent storage, and more, so you can concentrate on the front end. It makes it easy to integrate 3rd party APIs and scale your app, and you can easily implement features like user management, push notifications, and security.
To integrate a payment gateway, we recommend using Stripe’s API solution.
Apart from Stripe, PayPal, Braintree, and Square are equally good payment solutions that provide exclusive services like mobile and web payments, recurring billing, and fraud protection.
For the push notifications feature in your mobile app, you can use bulk SMS solutions like Twilio’s SMS service.
Visit Twilio’s messaging services documentation to learn more, and check out their pricing plans on their pricing page.
To test your mobile app against a wide range of devices, sign up with Digital.ai.
Digital.ai offers a mobile device and browser lab through the cloud, which allows you to test your app against different browsers and devices. You can also use Digital Test Analytics from Digital.ai, which consolidates your test results for mobile and web and provides valuable insights.
To manage your Agile project using the Scrum framework, we recommend using Jira, a robust PM tool. Its features include customizable workflows, agile boards, and extensive reporting capabilities, which can help ensure that app development is completed on time and within budget.
Ensure that your web and mobile apps have user-friendly UIs by consulting appropriate guidelines.
There are plenty of free UI/UX tools out in the market. Choose according to the scope and budget of your project.
Code the back end using Node.js and add databases to your app by following the relevant AWS Elastic Beanstalk instructions. Integrate APIs/SDKs for your selective Influencer platform API, Twilio, and Stripe.
Test and deploy the web app using the AWS Elastic Beanstalk Node.js deployment instructions.
Use Android Studio to code the Android app using Java, the established language for Android development.
Integrate the 3rd party APIs and SDKs with your code and use Espresso and the Digital.ai mobile device lab to test the Android app. Publish your app on Google Play.
STEP 13. CODING, TESTING, AND PUBLISHING THE IOS APP
Develop the iOS app using Xcode and Swift, the modern language preferred by Apple. Integrate the SDKs/APIs for Upfluence, Stripe, and Twilio, and use XCTest and the Digital.ai mobile testing lab to test the app. Publish your app on the App Store.
That’s it!! Your Influencer platform/app is ready for business!
Technology is evolving at a breakneck pace. This the probably the best time to leverage it and generate profits. Influencer marketing is a highly lucrative business and with more and more digital proliferation, such is going to expand exponentially.
At Idea Usher, we have the right team and technology to assist with your influencer marketplace development. Be it a website platform or an app; we can help you create a robust and comprehensive marketplace.
Get in touch with us now!
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Or reach out at: (+1)732 962 4560, (+91)859 140 7140
A: Collabstr is an influencer marketing platform that helps brands connect with influencers for their marketing campaigns.
A: The top influencer marketing platforms include
A: To create an influencer marketing platform, you need to:
A: Yes, Influencer marketing can be profitable if done correctly, with the right influencer selection, campaign strategy, and ROI measurement.
A: Yes, Idea Usher can help build you an influencer marketplace by providing end-to-end services, including platform design, development, testing, deployment, and maintenance, using modern technologies and project management methodologies.
Idea Usher is a pioneering IT company with a definite set of services and solutions. We aim at providing impeccable services to our clients and establishing a reliable relationship.