The trend in social media is highly volatile like the crypto market. Sometimes, a pic from an actress will go viral within a few hours, a meme related to the pic will get first place in trending, and it will go on like this. Forecasting viral content on social media is a hard part.
Despite it being for entertainment and social network relationship purposes, there is a big deal in business. As an entrepreneur, you need to unfold the secret map of the treasure in the social media-related business.
One side of the world has been moving with new blockchain technology, web 3 & 4, the fastest quantum computer, etc, another side of the world has been making money by dealing with entertainment and influencing content. You can choose any part of the world to generate your revenue. But what if both the technological idea and the social media concept join together?
An online platform for finding influencers and hiring them is a business idea that can get advantages from both parts of the world. Developing such an effective and efficient platform cost-effective is possible with a Uber clone script. No more introduction; let’s get the answers to your questions in your mind through this blog.
Table of Contents
Growing Market for Social Media Influencers
Many types of ads and promotions have been raised in recent days. It evolves from posting an ad in the newspaper to hiring an influencer to do promotions. First of all, who are influencers? And why should you spend five minutes reading about them? Let’s check.
The people who can influence, inspire, or motivate others to do a thing can be called influencers. This term is not a new one for this world, may the world “Social Media Influencer” was a new one, 8 to 10 years back. The people who engage more audience with their content on social media are named like that. Recently, brands are hiring such social media influencers to represent or promote their brands to their audience.
In 2021, the global market size of the influencers was 13.8 billion USD. The same has been calculated as 16.4 billion USD in 2022. Just in a single year, the market size has increased by nearly 3 billion USD. It shows the demand and opportunities in the current market for influencers.
Segmentation of Social Media Influencers
When a brand is looking for a social media influencer, they classified them into a few types as follows.
- Macro Influencers,
- Employees, and
- Brand Advocates.
In the perception of a brand, celebrities are the most efficient influencers on social media. It is because they can convert more people to use a brand or avail of a service from a brand with their single post. But, only a few brands can hire them due to the high cost.
Macro influencers are the people who have 100K to 1M followers. They are also effective in conversion. The cost to hire them is lower than the cost of hiring a celebrity. The micro-influencers have followers who count between 1K-100K. Most brands are ready to hire such micro-influencers as they can promote a brand at a low cost.
Other than these influencers, a few brands and startups are also using their employees and brand advocates (loyal customers who strongly recommend the brand) to promote themselves. It’ll be effective to convert potential customers through reviews and ratings.
But the problem is credibility and the payment process. Most influencers have negative experiences with fake or dishonest brand recruiters. Such negative experiences are also happening for budding startups and brands. It is a major barrier that makes the deal between the influencers and the brands. In case there is an honest intermediate entity that manages this deal, this difficulty can be reduced.
How to Establish a Platform to Find and Hire Social Media Influencers?
Why not, develop such a robust platform to manage the hiring process of social media influencers? It can be identified as an online marketplace for social media influencers. It is possible to develop such a business model with an effective tech solution.
Developing such a solution from scratch may cost you high and take more time. Instead, you can choose Uber for multi-services script (Uber for X). It is nothing but a ready-to-use app solution with the same workflow as Uber. By customizing the Uber for X script, you can get a unique tailor-made app solution that can act as a platform to find and hire social media influencers.
To support the business model, the Uber for X script has the following elements and features.
Application for Brands:
It is a dedicated application, through which the recruiters who need to hire the influencers can create and manage their profiles.
- Profile Integration – Simply, by integrating social media accounts the users can verify their profiles easily.
- Online Booking – The brands can search an endless list of influencers and choose the best among them and request an online booking or engagement.
- Searching Tool – Brands/ recruiters can use filters, sort, and search options to find the best influencers.
- Online Payment – Payments can be made in multiple ways online through his application.
- History – The brands can check the previous booking and payment records for their reference.
- Rate and Review – Based on their personal experience with the influencer, the brands can rate and provide reviews on their service. It’ll help other firms to choose the best influences.
App for Social Media Influencers
This unique application deals with social media influencers and allows them to list their services on your marketplace.
- Profile Customization – The influencers can create and update their profile based on their recent services and recent trends. It can help them to attract brands to get more deals.
- Price Fixing – The influencers can choose their price and offers for their services through this application.
- Appointment Management – Influencers can accept or reject requests from brands that are concerned with their availability.
- In-App Communication – In-app communication will help them to reach brands and do negotiations, and other deals.
- History – They can access the previous booking and payment history through this application.
An easily accessible panel that facilitates you to manage the business flow completely.
- Commission Management – By connecting the brands and influencers you can get revenue in the form of commission. The rate of commission can be optimizable through the admin panel.
- Revenue Streams – You can include or exclude any streams of income for your online service with this admin panel.
- In-App Content Management – Admin can optimize the content within the application through this panel easily.
- User Data Management – The admin can collect and manage the necessary data from the users. It helps you to manage all the business processes.
These features make the business plan of an online platform to find and hire social media influencers feasible. But, it should be available by the best mobile app development company. By paying attention to choosing the right place to avail of the tech solution you can ensure a seamless workflow in your online marketplace-based business.
That’s all! You are at the end of the blog but in the initial stage of your business. Just do the research work, the conclusion of the work will give you confidence in the profitability of this business model. Then, you just need to do one more research work to find the potential mobile app development company to avail the customized Uber for X script to establish your online marketplace for social media influencers.