Is an Influencer and Media Database Worth the Investment in 2019?
Your company may not need to spend a lot of money on an Influencer or Media database. There are different tactics you can use to build relationships with influencer and media personnel. But, if your PR and marketing team are tied up with other tasks, is it worth the investment? This blog posts will guide you in making that decision.
Before we dive into the longstanding question, what is an Influencer and Media Database?
An influencer database is a archive of influencers with different followings and niches that allows companies to track across multiple social media platforms.
In similarity, a media database does the same, but with journalists. Without a heavy focus on social media, media databases allow people to search and reach out to journalists.
These two platforms allow businesses to connect with people who can aid them in growing their exposure. Having influencers and the media relationships can truly benefit a company. Company news gets shared easier, especially if people find an interest in it. Cultivating these relationships can be difficult. It takes time, research, and patience.
How Much Does it Cost?
Influencer Database
The typical price tag for an Influencer Database varies on the size of the company, the need, and the platform used.
From research, an Influencer Database can cost from $5,000-$12,000+.
Yes, that is a lot of money, but is it necessary? Yes and No.
Ask yourself these questions:
- Is there are need for my company to reach out to influencers?
- Does my company want to grow their audience online/grow an online presence?
- Has my company already built influencer relationships and want to grow?
- Is building and cultivating influencer relationships online taking up too much time?
- Is there a budget for this database?
If you answered “YES” to all these questions, then you should definitely start doing research on what platforms have to offer.
On the other hand, if you answered “NO“, now may not be the time to invest in one.
If your answer was “YES” and “NO” to some of these questions, definitely begin looking into what different platforms can offer your company. Who knows, someone may convince you regarding the need.
Media Database
Similar to Influencer, the need for a Media Database depends on the company, need, and platform that would be used. Typically, media databases are invested in by companies big and small to continuously grow their presence.
Media Databases are great for companies who want to seamlessly connect and pitch to the media.
According to our research, a Media Database’s typical cost will run you anywhere from $6,000-$14,000+ depending on the platform.
To find out whether or not your company is in need of this database, here are some questions to ask:
- Do we need more media contacts?
- Is there room to grow our current media contacts?
- How much time are we spending connecting with journalists, bloggers, producers, etc? Should we cut down on that time?
- Is there an urgent need to get our news out there?
- Does the company have the budget and time to onboard and use a media database?
Again, if you answered “YES” to all of these questions, you should immediately look into using a media database.
If you answered “NO” to all of these questions, the need is not urgent.
But, if you did answer “YES“, and “NO” to some of these questions, it may be time to entertain the thought of using a media database platform.
Talk to your PR & Marketing team and ensure the proper needs are met before diving into investing in an Influencer or Media Monitoring platform. Your company will eventually need either/or, maybe even both in the long run (or right now!). Having these two tools can improve your SEO, pitching, and growth.
