The problem
Advertising on social media with influencers works really well, especially for things like clothes and everyday products. But, it’s hard to find the right influencers and make deals with them.
You could hire a marketing agency to do this. They usually know a lot of influencers and can help get your ads out there.
But, even agencies have problems. They need to find the right influencers for each ad, see how well they’re doing, and figure out how much to pay them.
Wouldn’t it be great if there was a platform that could do all this?
The solution
Primetag is a tool that assists companies in handling their influencer marketing efforts.
It aids companies in choosing suitable influencers, connecting with them, launching promotions, tracking the success of these promotions, and making decisions based on this data. This is crucial because you need to know how well your ads are performing when they’re on an influencer’s social media.
In addition to making influencer partnerships simpler, Primetag provides clear methods to enhance your ad campaign’s success and get a better return on investment.
The platform helps predict how well influencers will do and allows for discussions on cost per thousand views (CPM), cost per engagement (CPE), or cost per click (CPC). It checks key performance indicators (KPIs) such as awareness, engagement, and conversion. This information can be shown as a PDF or in Excel sheets. Plus, the platform provides approved third-party checks on influencer data to prevent possible fraud.
Primetag lets you reach over 10 million Instagram users. You can search them by location, size, how much they interact, and more.
You can also find influencers by searching for specific words or topics, like “vegan”, for example.
You can also view detailed data about any influencer, such as account growth stats, reach rates, impressions, views, and so on.
Moreover, you can compare your ad efficiency with competitors by breaking down this statistic into separate metrics.
How it works
Primetag idea is generally simple. It collects information from well-liked Instagram accounts, like how many followers they have, their activity, and feelings about posts.
This helps figure out an influencer’s strengths and interests, like fashion, pets, food, or music. So, when you’re making your ad campaign, you can pick the right influencers and guess how far your campaign will go.
You can use a system like CRM to easily add your favorite influencers for later chats. This system also records past chats and ads with these influencers.
Primetag helps you pick influencers who each reach different people. This means your ad won’t be shown to the same person twice, reaching a truly bigger audience.
The platform collects live information about ad campaigns. This lets advertisers connect the platform to their sales system.
It keeps an eye on new posts all the time. This gives brands a peek into what their rivals are doing. They can see which influencers are involved, where the posts are seen, how many posts there are, how far the posts reach, and how much subscribers are interacting.
Working with positive and negative impacts
Primetag looks at both good and bad influencer activity by studying different data points and measurements. There are several things to consider when checking how well an influencer is doing. These could include:
- Engagement metrics: Primetag checks things like comments, shares, and mentions. This helps to see how much the audience is interacting with an influencer’s posts.
- Content quality: The platform might look at how good an influencer’s posts are. It might check if the posts are relevant, real, and creative, to see how much they affect the audience.
- Audience resonance: Primetag might use audience resonance as a main measure of success. This is to check an influencer’s ability to connect with their followers and make a positive difference.
- ROI and campaign performance: The platform probably checks the return on investment (ROI) and how well the influencer marketing campaigns are doing. This is to see how effective an influencer’s work is.
Detect negative impact
You can spot a negative influencer by looking for:
- Low engagement: If an influencer doesn’t get many likes, comments, or shares, Primetag might flag them. This could mean they’re not having a good impact on their audience.
- Fake or bad content: If an influencer makes content that seems fake or isn’t very good, Primetag might flag them. This could make people think badly of the brand.
- Content that doesn’t match the audience: If an influencer’s content doesn’t seem to match what their audience wants, Primetag might flag them. This could lead to bad results for the brand.
The market
The influencer marketing sector continues to experience rapid growth, fundamentally transforming brand advertising strategies.
The market was expected to grow to approximately $21.1 Billion in 2023. Data Bridge Market Research expects the value of the influencer marketing platform market to reach $69.92 Billion by 2029, at a CAGR of 32.50% over 2022-2029. That’s huge. And it’s why influencers have seen the spotlight on them grow brighter.
Also, brands are likely to work with influencers for longer periods, and live shopping could become even more popular. Primetag is keeping up with these trends, and the future looks good for it and other similar platforms.
Competitors
For sure, Primetag is not the only company offering such service. There are the number of the competitors on the market. For example:
Influo: A company that operates in the influencer marketing industry, providing a platform and services that facilitate connections between influencers, creators, brands, and agencies.
Swinx: A B2B influencer relations agency.
LTK: A company that offers influencer marketing solutions.
Hashtag Paid: A platform that helps brands find and work with influencers.
Mavrck: A company that provides influencer marketing software and services.
CreatorIQ: A platform that helps brands manage and measure influencer marketing campaigns.
Affable: A company that offers influencer marketing solutions.
GRIN: A platform that helps brands manage and measure influencer marketing campaigns.
impact.com: A company that offers influencer marketing solutions.
CisionOne: A platform that helps brands manage and measure influencer marketing campaigns.
AspireI: Influencer marketing platform for e-commerce brands
The Founders
The founders of Primetag are Manuel Albuquerque (CEO) and Paulo Gaspar (co-founder and board member).
The Funding
Total amount of funding secured by the company is ~5M. Latest round was on 11 Jan 2024.
- €3.5M on Jan 11, 2024 from Iberis Capital, Indico Capital Partners
- €1.3M on Nov 2, 2017 from
- €165K on Jan 1, 2015 from angel investors
What’s interesting
Primetag, founded in 2015, has just received its first significant funding. This reflects the growing interest in startups operating in the field of social media marketing.
There’s a common saying, half-jokingly, that if you want a line of investors at your door, simply build an AI startup. However, the same can be said for startups working in the realm of social media.
We recently reviewed a startup offering a platform for investing in media content creators, a food delivery platform that focuses on individual chefs as social influencers, and a successful company offering fintech services for social media content creators.
The social media market, and personal brands built on social media platforms, present an interesting and promising opportunity worth considering.