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Social media influencers are proving invaluable in enhancing brand visibility. Data says that 75 per cent of people use social media for purchasing advice, influencers play a critical role in expanding brand reach and boosting engagement. This new age of marketing opens vast opportunities for small, mid-sized and large corporations to market their products and services effectively.
Highlighting the evolving landscape of marketing and the critical role influencers play in driving brand success, industry experts threw light upon the nuances of influencer marketing and brand growth in the digital era.
Kunal Sharma, AVP of Marketing, Modern Trade and ecommerce at KRBL, began by discussing the shift from traditional celebrity endorsements to new-age influencers. He noted, “There has been a paradigm shift in how we look at marketing and influencers. Covid did a great service to the whole community through large-scale content adoption. Earlier, we relied on pan-Indian celebrities to carry a message. Today, marketers can target different audiences with varied messages from the same brand. That’s the immense potential influencers bring.”
Fashion Influencer, Niki Mehra Madan elaborated on the value of new-age marketers. “We are like pseudo-celebrities in the sense that we are like them, but we have the aspirational value. I feel that makes us very relatable and puts us in a unique position. If we tell them to buy something, it has more impact than their favourite celebrities.”
Several influencer marketing models are prevalent in the branding and marketing industry. One distinct model is using employees and company figures as influencers. Vikram Bhayana, Head of Marketing at Bajaj Allianz General Insurance explained the significance of in-site influencer marketing in insurance. He said, “In our company, it is very clear that our employees are our ambassadors. Insurance is unique because it’s a promise you are selling. Our employees are the flagbearers of the brand. If they are selling insurance, consumers know if something happens, there are people in the office who will be there for them.”
Understanding the importance of influencer marketing, companies must be strategic in selecting influencers to enhance brand reach. Nisha Khatri, Head of Marketing at Libas provided crucial insights into their process of selecting influencers. “In an environment where narrative is more important than facts, the loudest and most convincing voices matter. We follow a simple process; we don’t work with influencers but we promote our products. When we do the math backwards then the process becomes very easy to select the right kind of influencers.”
Mutual respect between companies and influencers is vital for successful partnerships. Experts agree that a win-win situation for all stakeholders is possible when companies allow influencers the creative freedom they need while ensuring brand messages are conveyed effectively.
The panel discussion took place at the inaugural edition of BW Marketing World's Momentum Conference 2024, held on July 3rd in New Delhi.
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