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Peeping Behind The Influencer Marketing Agency Curtain

Published

1 year ago

May 31, 2023

Peeping Behind The Influencer Marketing Agency Curtain

Opinions expressed by Entrepreneur contributors are their own.

You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

Six huge, pumped up bodyguards in black attire are escorting a 26-year-old to his suite after a meet and greet session with his fans at a plush Delhi hotel in Connaught Place. The 500+ fans who gathered are vying for a selfie, an autograph- anything they can manage- but the bodyguards are a seasoned lot and take their subject to safety. This isn’t a Bollywood actress, an A-list actor or some reality TV star- it’s a comedy influencer who creates humorous content on YouTube for his followers, who are more than 6 million in number.

It’s no state secret that influencers are the new celebrities. What started off on YouTube and Facebook, spilled over to Instagram and other social media platforms, creating the new age celebrities, whose fans follow them for their content, whether it be in comedy, entertainment, current affairs, finance or other fields. And along with their rise, a new kind of organizational structure has emerged- the influencer marketing agencies.

What was once solely the dominion of celebrity public relation companies which managed A-listers and other stars, has now seen the evolution of these agencies, some of whom manage an ever increasing number of influencers. Globally, major influencer marketing agencies include names such as NeoReach Agency, Moburst, Quotient Technology Inc., Launchmetrics, JuliusWorks, Trackr. Inc, Upfluence Inc. House of Marketers and inCast Inc., while back home our own giants are emerging with breakneck speed.

One of the most well-known names in this market is that of Monk Entertainment, which has the renowned influencer Ranveer Allahabadia as its co-founder. Along with Viraj Sheth, Founder and CEO at Monk Entertainment, they have an impressive roster that spreads across all the major sectors of fashion, beauty, infotainment, food, lifestyle, wellness, entertainment, automobile and tech with their clientele including BeerBiceps (Ranveer), Niharika NM, Yashraj Mukhate, Your Food Lab, Ruhee Dosani and Abhi and Niyu. The bootstrapped organization’s business model is split in two: a commission-based model and a retainer model.

Many of them have also launched projects with their own creators. When it comes to direct-to-consumer (DTC) brands, take the example of IPLIX, co-founded by Jag Chima, who are working with India’s number one tech creator, Techburner, who boasts of a YouTube community of over 10 million subscribers. Together, they have ‘Layers’, a mobile phone skins brand, apart from working with other top individuals in India’s creator economy. IPLIX have received funding from various VC, institutional funds, and private equity sources.

Finnet Media, founded by Ayush Shukla deals in influencer marketing, content production, ad production, strategy for both influencers and brands and talent management. Their business model entails different streams including retainer with brands to run influencer marketing programmes, long term associations with creators to enhance their personal brand value while focussing on increasing credibility, ad production as well as content production based projects. Currently, they manage over 40 influencers across infotainment and finance including Anushka Rathod, Sharan Hegde, Shivanshu Agarwal, Nidhi Nagori, Unfinance, Ujjwal Gadhvi, Vijay Chandani amongst others. As the name Finnet suggests, Shukla started the company with an objective to create an ecosystem for creators who focussed on finance and infotainment, contributing to the now commonly used term- finfluencers.When the creator economy was just about booming, he identified a new niche – the one of finance creators, post which they have also diversified into other niches such as education and technology. Till now they have been bootstrapped and have been deploying their own profits to further grow teams and expand across geographies.

Another prominent name in the finance and tech sector is DigiWhistle, which works with pioneers in the finance influencer marketing sector, such as Neha Nagar, CA Rachana Ranade, Anant Ladha, Nitish Rajput, Think School and Prafull Billore. But what does their business model entail?

Founder Prashant Nagar explains that at the outset, they engage in a holistic exploration with the client, to gain a thorough and detailed understanding of their marketing objectives, target audience, and financial resources, thereby creating a customised strategy that aligns with the client’s specific needs and objectives. “With a deep dive and intensive search on a variety of factors such as audience demographics, engagement rates, and relevance to the client’s brand we pick the best influencers for the campaign. Once the campaign is launched, we closely monitor its performance, tracking key metrics such as engagement rates, reach, and conversion rates. This enables us to make real-time adjustments and optimizations to the campaign’s components, ensuring maximum impact and ROI,” says Prashant.

The sudden spurt of all these influencer marketing agencies owes itself to the explosive growth of social media and the rise of creator culture. “With millions of people now following and engaging with influencers and content creators online, brands have recognised the value of partnering with them to reach their target audience. Additionally, the pandemic has accelerated the shift towards e-commerce and digital channels, creating new opportunities for DTC brands and influencer marketing,” Chima explained.

PR firms like Avance PR, a boutique Agency in Gurugram headed by Ritika Garg, too have taken the hint and along with being a full-service PR firm they focus on business communications and influencer connections, specialising in startups with their forte being tech-based clients like Edtech, HRTech or SaaS based products.

With a gold mine of creators to choose from, venture capitalists are not one to lose out on such an opportunity to invest in disruptive startups. Sheetal Bahl, Partner at growX Ventures says that they are always on the lookout for companies that are poised to revolutionize their respective industries. “Cosmofeed is one such company that caught our attention due to its unique approach to addressing the challenges faced by creators in managing and monetizing their content. With its innovative platform, Cosmofeed is well-positioned to become a leading player in the creator economy, which is a rapidly growing industry with enormous potential. When evaluating potential investments, we look for rockstar founders with a grand vision, and Cosmofeed checks those boxes, which is why we were eager to invest in their growth. Looking ahead, we plan to work closely with the Cosmofeed team to help them achieve their goals and continue to build upon their early successes,” Bahl told us.

Fact Sheet

DigiWhistle

No. of employees: 9

Year of starting: 2021

Average employee age : 24

Revenue in past year (FY21-22) : 2 Cr

Revenue in past year (FY22-23) : 10 Cr

Approx earnings for influencer per Instagram post : 3-5 Lacs (Depending on the following and the brand image of the influencer)

Finnet Media

No. of employees – 20

Year of starting – 2021

Average employee age – 23

Approx earnings for influencer per Instagram post -1 – 2.5 L

Monk-E Entertainment

No. of employees – 108

Year of starting – 2017

Average employee age – 21-25 year

IPLIX Media

No. of employees: 65

Year of starting: 2019

Average employee age: 24

Avance PR

No. of employees – 7

Year of starting – 2022

Average employee age – 27

Revenue in past year – 2.4 lac

Approx earnings for influencer per Instagram post – 40000

The author can be reached at [email protected] and Instagram.com/kabirsinghbhandari

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12 Proven Methods to Make Money Blogging in 2024

Published

4 months ago

May 14, 2024

Entireweb News Bot

This is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

Identify audience needs: Develop products that address the specific needs and desires of your target audience.
High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

6 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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7 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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