Transform your brand's reach with relatable influencers that resonate with your audience, leveraging the power of authenticity and strategic engagement to drive unprecedented growth and visibility in today's digital environment, experts say.
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Social media influencers have proven to be invaluable in increasing brand awareness. Data shows that 75% of people use social media for purchasing advice, and influencers play a key role in expanding a brand's reach and increasing engagement. This new era of marketing offers huge opportunities for small, medium and large businesses to effectively market their products and services.
Industry experts highlighted the evolving landscape of marketing and the crucial role influencers play in driving brand success, shedding light on the nuances of influencer marketing and brand growth in the digital age.
Kunal Sharma, AVP, Marketing, Modern Trade and E-Commerce, KRBL, began by talking about the shift from traditional celebrity endorsements to new-age influencers. He said, “There has been a paradigm shift in how marketing and influencers are viewed. The COVID-19 pandemic has contributed immensely to the community at large through content adoption at scale. Earlier, we relied on celebrities across India to deliver our message. Today, marketers can target different audiences with different messages from the same brand. This is the immense potential that influencers bring.”
Fashion influencer Niki Mehra Madan elaborates on the value of new-age marketers: “We are like pseudo-celebrities in the sense that we are similar to them, but we have aspirational value. We feel that makes us very approachable and puts us in a unique position. If we encourage them to buy something, it has more impact than their favourite celebrity.”
Several influencer marketing models are prevalent in the branding and marketing industry. One distinctive model is leveraging employees or company figures as influencers. Vikram Bhayana, Head of Marketing at Bajaj Allianz General Insurance, explains the importance of insight influencer marketing in the insurance industry: “At our company, our employees are obviously our ambassadors. Insurance is unique in that it is a promise that we sell. Our employees are the flag-bearers for the brand. If you're selling insurance, consumers know that if something happens, there's someone in the office who can help.”
Understanding the importance of influencer marketing, businesses need to strategically select influencers to increase their brand reach. Nisha Khatri, Head of Marketing at Libas shared some key insights on the process of selecting influencers. “In an environment where stories are valued over facts, the loudest and most compelling voices matter. We follow a simple process: we don't work with influencers, we promote our own products. If you work backwards, the process of selecting the right kind of influencer becomes very easy.”
Mutual respect between companies and influencers is essential to a successful partnership, and experts agree that when companies give influencers the creative freedom they need to effectively communicate their brand message, it creates a win-win situation for all parties.
The panel discussion took place at the inaugural BW Marketing World Momentum Conference 2024 in New Delhi on July 3.
