With growing social media popularity among the millennials, each day new users are being added to the pool of an existing database of million users on Facebook, Twitter, Snapchat, Instagram, etc. A new form of marketing is taking shape and is here to stay – Influencer marketing, where in brands are reaching out to influencers across different platforms to promote their products and services. In 2018 alone, the money spent by brands on sponsored posts on social media was expected to be $8 billion. For Brands finding influencers apt to endorse the brand in terms of brand personality, high level of engagement on posts and the budget becomes a time-consuming process. Moreover, with the rise of “pseudo” influencers, who pay money to get followers and an influx of influencer marketing agencies often prizing speed over quality, i.e. prioritizing any match over the appropriate match. It’s no surprise that even though the number of branded contents has tripled since 2017, the number of “likes” on those posts have remain constant. In other words, 19 of 20 pieces of content pieces get little to no engagement.
This is where we come into the picture. InfluencerHub is an AI Influencer discovery, and Marketplace, with an aim to provide list of quality influencers across categories based on followers, performance in the last 10 posts, scouting rising stars and monitoring competitive campaign. As a B2B service provider, where we connect brands apt influencers for their campaigns, track competitors, manage their campaign on the portal and deliver cost-effective campaigns. A one stop portal for clients to build their Influencer marketing, and for budding and existing influencers to have an equal ground for competing.
COMPETING PLATFORMS / ORGANIZATIONS
Major competitors portals list top 5 or 10 influencers which tend not cover very specific niches such as Food and Travel. This leads to a model where a travel influencer might endorse a watch; a mommy blogger, hair vitamins. The current competitors in this space today, in India are:
Qoruz, which actually focuses on Influencer Discovery (Scout and Fame Connect), Campaign Management (Rewards), and Third-Party Analytics (Radar and Recon).
Influencer.in which focuses on Influencer Discovery and Campaign Management.
Pulpkey which focuses on Influencer Discovery, Third-Party Analytics.
Blogweet which focuses on Influencer Discovery and Campaign Management.
Skreem.io which focuses on Influencer Marketplace via Content Creation.
TARGET AUDIENCE AND SEGMENTATION
For us at InfluencersHub, we need to address two sides of the business i.e. Brands and social media Influencers. From the business perspective, we will target companies across categories (Food, Telecom, Personal care, automobiles, technology, apparel, clothes,accessories, beauty, etc.) who spend on digital marketing for their campaigns, such as –SME (Ahujasons, Banaras house etc.), Startups (Koovs, Snapdeal, Kiva, Oyo, Cure.fit etc.), and Corporates (Unilever, Danone, Marico, Loreal, Mahindra & Mahindra, Walmart Flipkart etc.)
For influencers, we initially plan to look at gathering information of influencers across categories that have significant fan following and quality content, and then consequently expand our reach. For now, these are the age groups we hope to target the following age groups in Tier 1 and 2 cities – 18-25 age group (College going, ambitious, explorer), 25-30 age group (Early jobbers/ Working professionals), 30- 45 age group (Mid-level executives, independent consultants), 45+ age group (Working professionals, independent consultants).