Start An Influencer Reporting Tool Business - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
The influencer reporting tool is a great way to see which influencers are performing well right now. You can also look at the share of voice and performance over time. Find out what other people are saying about them on social media and get an overall view of the influencer's results.
Influencer reporting is an important part of any modern company's marketing strategy and it shouldn't be a struggle to find the information you want.
Starting an influencer reporting tool business might sound risky, but it doesn't have to be. When you're competing in a crowded market with billions of dollars at stake and high barriers to entry, having a formal business plan is a great way to start off on the right foot.
Starting an influencer reporting tool business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell influencer reporting tool, or selling influencer reporting tool online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Office Space Expenses |
$0 |
$7,000 |
|
Employee & Freelancer Expenses |
$151 |
$352 |
|
Website Costs |
$223 |
$7,215 |
|
Business Formation Fees |
$5,600 |
$20,400 |
|
App Creation Costs |
$1,000 |
$20,000 |
|
Training & Education Expenses |
$0 |
$1,000 |
|
Software Expenses |
$162 |
$3,094 |
|
Advertising & Marketing Costs |
$0 |
$50 |
|
Total Startup Costs |
$7,136 |
$59,111 |
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
NoxInfluencer - Find Everything About YouTube |
noxinfluencer.com |
3,634 |
|
|
BuzzStream |
buzzstream.com |
8,331 |
|
|
Empowering the influencer generation |
influence.co |
12,905 |
|
|
Cognitiveseo - SEO Tools |
cognitiveseo.com |
14,196 |
|
|
AccountingTools |
accountingtools.com |
14,418 |
|
|
ACTIVATE |
activate.social |
16,408 |
|
|
Not Just Analytics - Analyze instagram accounts |
notjustanalytics.com |
19,539 |
|
|
SparkToro |
sparktoro.com |
22,180 |
|
|
Buy Shoutouts from Social Media Influencers |
shoutcart.com |
23,916 |
|
|
Keyhole |
keyhole.co |
27,890 |
|
|
Followerwonk: Tools for Twitter Analytics, Bio Search and More |
followerwonk.com |
36,536 |
Pros & Cons
| Pros | Description |
|---|---|
|
Flexibility |
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
|
Ability to start your business from home |
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
|
Scalable |
With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers. |
|
Traffic to your website |
A influencer reporting tool business gives people a reason to visit your website and to keep coming back to you! |
|
Meaningful business connections |
You never know who you will meet as a influencer reporting tool business. This could be the start of an incredible business opportunity! |
|
High customer retention rates |
Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer. |
| Cons | Description |
|---|---|
|
Crowded Space |
Competition is high when it comes to your influencer reporting tool business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies. |
|
Motivation of employees |
If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
|
Longer Sales Process |
A influencer reporting tool business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers. |
|
Security Issues |
With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road. |
|
Stressful work |
This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments. |
Marketing Ideas
-
1
Affiliate Program
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
-
2
Direct Sales
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
-
3
Word of mouth
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
