Influencers and brand growth in the new age of marketing

Harnessing the power of influencers to drive sales and retention

BRAND CONNECT | PAID POST

Published: Oct 27, 2023 12:50:01 PM IST

Updated: Nov 27, 2023 01:46:41 PM IST

Influencer collaboration has moved beyond the status of merely being an improvement in the dynamic world of modern marketing, and has instead established itself as a crucial component of a well-planned marketing strategy. Leading organizations now assign particular budgets designed for influencer marketing campaigns in an effort to stay at the very forefront of industry trends. Every firm appears to be eager to utilize influencer marketing to its fullest potential as the market matures and changes.

When it comes to delivering performance marketing via influencers, DRIM stands out as a leader in knowledge and innovation. Their dedication to the Cost-per-action (CPA) model identifies them as the sole Influencer Marketing platform in India to function within this framework, which is what makes them unique. Rich case examples that demonstrate DRIM's ability to regularly produce excellent results for their partners strengthen their unmatched commitment to results.

In the ever-evolving landscape of the creator economy, where content creators thrive and innovate, DRIM’s exceptional expertise in influencer marketing seamlessly complements this thriving digital realm which also includes vital support from analytics, video hosting, and advertising services. With an abundance of tools to facilitate content creation, sharing, monetization, and audience engagement, this phenomenon has empowered an ever-increasing number of individuals to participate in and contribute to the dynamic creator economy. According to Statista, as of 2022, India's influencer marketing sector was estimated to be worth around 12 billion Indian rupees. Over the following five years, it was anticipated to increase at a CAGR of 25%. The report further highlights that the market value of the sector was projected to reach 28 billion Indian rupees by 2026.

DRIM, India’s first performance influencer marketing platform, explored these trends at the DRIM CosmoFest: The Future of Digital Influence, presented in partnership with Forbes India. The event brought social media creators and marketing heads of leading brands under one roof to discuss the trends, challenges and innovative models to partner.

DRIM CosmoFest commenced with an inspiring welcome from Yulia Aslamova, Head of Asia at DRIM Global and a Performance Influencer Marketing Expert. She then engaged in a fireside chat with Amitkumar Banka, Head of Growth Marketing, User Acquisition & Retention, Product Initiative at Swiggy, discussing the theme ‘Tasting Success: Rediscovering the Joy of Brand-Consumer Connect’. With almost two decades of experience in digital marketing, he offered deep insights on how marketers can work with influencers to project brands and help them grow on the back of performance and profitability. He also explained the synergies that emerge from harnessing technology and a human connect, towards building brand recall and growth. The conversation went on to shed light on the shift towards performance-based marketing over traditional influencer strategies. DRIM CosmoFest featured discussions on the transformation in marketing. Brands have shifted from blindly investing in influencer advertising based on superficial metrics to adopting a performance-based strategy. This evolution also highlights the growing prominence of micro-influencers over traditional celebrity creators.

Anna Murozova, Head of Affiliate at DRIM for India and MENA, engaged in a conversation with DRIM's top-performing bloggers, delving into the compelling topic of "The Power of Star Creators: Accelerating Brand Growth." During this insightful discussion, these prominent bloggers shed light on their remarkable success, having harnessed the CPA method to not only generate impressive income but also bolster brand growth. They generously shared their invaluable insights, discussing the strategies that have proven effective for them, and emphasized the pivotal role content creators play in influencer marketing campaigns through their distinctive creativity and personal touch.

A panel discussion on e-commerce, titled ‘Elevating Ecommerce Experience with Digital Influence’, brought together industry experts Arpan Biswas, Head of Marketing at AJIO; Shreya Sachdev, CMO at PUMA; Manik Singla, AVP at Bankbazaar; Bhuvaneshwaran Veluswamy, former Head of Customer Growth at Myntra; and Anwesha Sarker, Head of Growth at DRIM. Moderated by Gautam Srinivasan of Forbes India, these marketers discussed how leveraging influencers for business promotion is an effective marketing strategy as it helps to create a shift in consumer perception.

The panel shone a spotlight on the key trends that are emerging from a marketer’s perspective, and explored how brands have been using influencers for everything from building credibility to achieving conversion and retention. The discussion also touched upon issues like RoI on influencer spends and how brands collaborate with partners to select the ‘right’ influencer. As working with certain influencers can be demanding, agencies establish relationships to facilitate collaboration. Further, partners also assist in identifying influencers with fake bot followers.

Within this space, DRIM has become the top choice for brands seeking performance-driven influencer marketing campaigns based on CPA, thanks to its impressive track record. In the FoodTech sector, where the industry engagement rate is usually just 2%, DRIM stands out with an award-winning case study showcasing a remarkable 30% engagement rate in its influencer campaigns using the Cost Per Order Payout method. This achievement underscores DRIM's unrivaled expertise in performance marketing. With an extensive network of micro-influencers and a focus on delivering tangible results, DRIM proves to be a compelling solution for both brands and influencers in the evolving landscape of influencer marketing.

The evening concluded with a keynote presentation titled ‘The New Age of Confluence: Role of Marketing, Technology, and Consumers’ by Neha Agrahari, Senior Director of Growth & Marketing at Flipkart. Agrahari discussed the convergence of technology, personalized marketing, and consumer behaviour, emphasizing the significance of hyper-personalization at scale and its impact on the marketing funnel.