9. Identify social media influencers using a SaaS tool
1. Choose a suitable SaaS tool like Modash, Hypeauditor, or SparkToro based on your preferred Social Media channel, target market, and budget for identifying influencers.
There are hundreds of tools out there so it can be difficult to choose. Influencer Marketing Hub has a great directory for you to browse when running influencer campaigns. For example, you could use Modash or Hypeauditor if you’re a B2C brand, or SparkToro if you’re a B2B brand. Choose an influencer tool that enables you to define the audience you are interested in as a marketer. Most of them just enable you to look for influencers based on the topics they frequently talk about.
2. Conduct a search in the influencer tool using your target audience or category as input, and browse through the creator profiles influencing your audience.
3. Create a shortlist of the candidates you found and copy them to a new spreadsheet along with the their Name, URL, Platform, # of Followers, # Quality Audience, Engagement Rate, Audience location, Audience gender, and Audience age as columns.
# of Quality Audience = this is a subset of # of Followers, indicating how much of the influencer’s audience is actually verifiably human and seemingly legitimate. Instead of an absolute number, some platforms show this as a score, such as Audience Quality, which works just as well. In addition, if your platform gives you such data, then consider adding more metrics like Branded Engagement Rate (engagement of branded content), Audience Interests, and % of Influencers Following (influencers following your influencer) to your spreadsheet for a more robust selection process.
4. Calculate an Influencer Score in your candidate spreadsheet using the equation Influencer Score = (# Quality Audience) x (% Engagement Rate) x (% of Audience in your desired location) and sort influencers by Influencer Score in descending order to identify which influencers to prioritize.
5. Continue using the tool, browsing profiles, and filling your spreadsheet until you have a list of candidates 4x bigger than you know your campaign can manage or afford.
Once you start reaching out to influencers, you will notice that some of them are busy, have conflicting interests, or just don’t want to work with you. Getting declined is a part of this process, thus you need to have a big enough list to meet your objectives.