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Influencer Marketing Has Become An Indispensable Tool For Digital Campaign: Prerna Goel, WhizCo
YouTube and other social media platforms have become the new source of revenue for youngsters. It has paved a path for entrepreneurs.
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Pandemic has put up the entire world in a hibernation mode. However, our millennials and generation Z found a way to get out of the numb zone. YouTube and other social media platforms have become the new source of revenue for youngsters. It has paved a path for entrepreneurs. In an interview with BW Businessworld, Prerna Goel, Co-founder and Chief Marketing Officer, WhizCo, explained all the inside out about the industry and the revenue model of influencer marketing.
What makes influencer marketing one of the most sought after digital marketing tools today?
The foremost advantage of taking the digital marketing route is that the conversion percentage by it is very high. In many of our campaigns and initiatives for instance we have seen a tremendous response by influencer marketing. With brands also witnessing the impact, influencer marketing has become an indispensable tool for digital marketing. While the traditional forms of campaigns require spending thousands of rupees without any distinct ROI, influencer marketing holds great value in this regard.
What changes have been witnessed in the influencer marketing space following the outbreak of the pandemic?
The influencer marketing space has grown manifold since the outbreak of the pandemic, more so because of the phenomenal shift we have witnessed towards digital across all industries and domains. The content industry, in particular, has flourished immensely with massively increased social media usage resulting in unprecedented levels of content consumption. Influencer marketing has not remained confined to social media as it has now found its way through the short video apps as well. Language localisation on these leading short video apps such as MX, Josh, Moj has helped local brands capture the right set of the target audience.
What kinds of brands do you majorly get associated with?
As we have a massive pool of content creators across varied social media and digital platforms, we have been associated with brands across many distinct verticals such as fashion, health and fast-moving consumer goods, among others. Also because we are associated with all major short video apps, we have worked with several brands and individuals that intend to reach out to consumers beyond metro cities in tier 2 tier 3 regions.
What analytics should brands follow to ascertain the impact of an influencer marketing campaign?
There are many factors based on which the success or failure of campaigns can be ascertained. The most sought after parameters to assess the impact of campaigns include impressions, reach and clicks. Also, a collation of the comments received on different platforms can be a good representation of how people feel about a campaign. They also act as feedback for devising the future roadmap for a brand.
What is the strength of WhizCo's pool of influencers?
We have a pool of more than 10,000 content creators spread across different social media platforms in multiple categories as well as languages. This makes us equipped to cater to any sort of brand across varied scales as well as different geographical locations. For the success of any brand campaign, it is essential to have in place a collaboration of influencers hailing from different social media, short videos or other digital platforms. While earlier it appeared to be a distant possibility we have now made the process a reality.
How are you different from other digital marketing agencies?
On most occasions, agencies that manage brands on social media and other similar platforms tend to merely upload content. WhizCo is a fully equipped digital and influencer marketing agency that has a strong cumulative base of a nearly 7million-strong base on leading platforms such as Instagram and Facebook. We are well aware of the strategies and the algorithms of different platforms, which allow us to offer unique ways of handling accounts to attract a more and more relevant audience.
We focus on absolute customer delight. We always try to go beyond our scope of work. The services that we offer are not regular digital marketing kinds, it's focused more towards content marketing and brand amplification.
What challenges do you face in the Indian digital marketing ecosystem?
Sometimes the traditional brands do not realise the potential of influencer and digital marketing. They have a myopic view concerning the worth of allocating a good budget to digital marketing. The need of the hour is to apprise them of the benefits of leveraging this new tool that can amplify their outreach to unexpected levels. At the same time, some brands or individuals have overwhelming expectations and they must realise that there is no magic wand to spike tractions unrealistically. The process has nuances and specifications that must be adhered to.