What is Influencer Marketing

Yes, that's how much the influencer marketing industry and the concept itself has evolved!

Earlier brands used to reach out to content creators on their own. However, in today's whereabouts, many great influencer marketing agencies have emerged that help brands collaborate successfully with relevant influencers. Grynow Media Private Limited, the best influencer marketing platform, is one such agency that has been spearheading the growth and revolution of the industry.

As an influencer marketing strategy is becoming progressively more complex, navigating through them alone is difficult for brands. Thankfully, influencer agencies excel at creating custom influencer campaigns for brands tailored specifically for their visions and goals!

That being said, let's discuss the basics of influencer marketing and the crucial role influencer marketing agency plays in their pending evolution.

Who are Influencers?

Influencers are essentially content creators in a specific niche where they hold certain credibility among the audience. These individuals build this credibility & authority in their niche by creating authentic content and sharing it with their audience regularly.

As the influencer marketing industry is evolving and influencers are edging into celebrity status, they are also coming out as opinion leaders in their niche, where their word is considered trustworthy by their followers. This has now become the basis of modern influencer marketing strategy.

Today influencers can be classified as nano influencers (with a following of less than 10K), micro-influencers (with a following between 10K to 100K), macro-influencers (with a following between 100K to 500K), and then finally the mega influencers (with following of 500K+).

A leading influencer marketing industry like Grynow Media creates a strong network of verified influencers. They ensure a smooth collaboration between brands and influencers for a successful influencer marketing project, which brings us to the next stop in our discussion.

What is Influencer Marketing

A thorough understanding of what influencer marketing is can only be gauged through understanding what can be achieved through it. Influencer Marketing began as a linear collaboration between influencers and brands where influencers promote a brand's products & services and get compensated in return.

Today influencer marketing has become an elaborate form of a combination of word-of-mouth marketing and online marketing with social proof as its most fundamental element, where influencers help brands achieve their goals.

Furthermore, as part of the collaboration between influencers and brands, influencer marketing strategy is clearly driven by the brand's goals promoted through carefully crafted content strategy executed by the influencer.

Influencers have created such a strong connection with their audience base that they are not only promoting products anymore but becoming faces of brands as brand ambassadors. Influencer marketing campaigns in 2022 can take many forms, including product launches, unboxing & reviews, affiliate marketing, contests & giveaways, etc.

Key Components of an Influencer Marketing Strategy

Today 18% of marketers are spending between $100,000 to $500,000 on multi-faceted campaigns involving content creators. Thus, with this rapid growth in the number of brands investing in influencer marketing and emerging influencer marketing agencies, the concept of influencer marketing strategy has also been evolving.

Here are some key components that will keep your influencer marketing strategy relevant to changing market trends:

1. Focus more on authenticity to seem relatable to the audience rather than striving for perfectionism.
2. A content strategy tailored to click with the involved influencer's audience.
3. Making real-time changes in the influencer marketing strategy to eliminate anything that is not yielding results.

Many leading agencies like Grynow Media follow these strategies to get outstanding results for brands. Let's discuss a few such examples from Grynow Media's success storyboard!

Influencer Marketing Case Studies - Grynow Media

1. Groww: Groww today is a very popular online investment portal for mutual funds. However, as a new company still trying to find ground, it started its marketing efforts in collaboration with Grynow. Their team conducted a thorough market analysis and decided to capitalize on their USP of charging 0% commission. They began with targeting tier 1 city population through creators like The Urban Fight, Seeken, Madaan, etc., and then moved on to penetrate regional areas through vernacular creators such as Arun Surya Teja, Gauravzone, Warangal Diaries, etc. thus, Grynow helped Growwto gain quick and sustainable traction!
2. Work India: Work India is an online employment portal that bridges jobless individuals and hiring companies. The team at Grynow created a content strategy revolving around joblessness and individuals in desperate need of work being rescued. They targeted tier 2 and 3 cities, involving 30+ influencers as part of their influencer strategy and scored a whopping 100K+ downloads and thus, decreasing the download rate immensely to just INR 25-30.