In the midst of a vibrant creator economy, brands are divided on how to route payments to influencers, and whether they should be based on cost-per-view (CPV), cost-per-engagement (CPE), or cost-per-sale (CPS). We are discussing. Vandana Verma, co-founder and managing partner of Wondrlab India, points out that one of the main reasons for this debate is that influencer marketing is in its infancy as a formal profession. Masu.
While many industry experts believe that performance-based pay is the future, Verma said in an exclusive conversation with BuzzInContent that many influencers won't embrace this model and that such compensation is a slow burn. It was revealed that.
Verma believes affiliate marketing is the best path forward in terms of addressing the ambiguity of performance-based payments to influencers.
“Influencers can post specific codes that attribute sales to them. Dashboards, reports, or technology can track how much electronic communication an influencer has or how many purchases they drive. It works in a way that allows us to see transparently what is going on.”
She cited the example of Shopify and how brands on its platform (boutique brands) are different from other brands with the funding and payout scale.
Affiliate marketing for influencers is the “next big thing,” Verma said, adding that performance-based payments require brand transparency, giving influencers the opportunity to earn more. Ta.
Apart from ROI, Verma shared that influencer affiliate marketing can drive website traffic and sales and secure multiple performance spends.
She also highlighted the prevalence of barter systems, where influencers are compensated with products or services rather than money in return for promotion.
“With barter, you're not just doing the top of the funnel, you're doing the bottom of the funnel, and you're leveraging the product, so it's a real promotion.”
Verma also talked about the growing trend of long-term influencer-brand partnerships, where an influencer works with a brand for a period of time to create episodes of content.
Siddhyesh Narkar, Chief Technology Officer, Wondrlab India, reveals how generative AI powers content creation, benefiting stakeholders, creators, brands, agencies, and more. According to him, Gen AI will be data-driven to optimize strategies and assist government agencies' budget departments for various campaigns.
“Generative AI has turned influencer marketing into a data-driven and creatively rich ecosystem.”
He added that while artificial intelligence may provide a competitive advantage over manual labor, the comparison is never valid as the two drive different arguments.
Verma, who has embarked on the virtual influencer trajectory, believes that beyond the initial investment, their content is exclusive to the investing brands, ensuring brand loyalty while maintaining consistency in brand messaging and improving the conversation. Shared that it is a low cost option for creating templates.
In 2023, Opportune, Wondrlab Network's influencer marketing platform, announced a strategic partnership with Reach Vista, an India-based virtual influencer marketing company.
As part of the partnership, Opportune onboarded virtual influencers including mrpagalboi, not_enafh, _charlie_flix_, and more. Stick Figures, dudububu,bubududu,lanaturevibes,flake_sayz And Lexi.
Revealing that Opportune is including virtual influencers in its proposed media mix, Verma added that the brief specifically targeting the virtual influencer mix is centered around brands wanting to interact with new-age customers. .
He added that virtual influencers are top of the funnel for brands building their marketing practices, are TG-driven, and are well-suited to digitally-driven audiences.
Regarding Instagram's recently announced Creator Workspace and the government's National Creator Awards, Verma believes these initiatives will give a big boost to the system.
In charting a course for the future, both Verma and Narkar are looking forward to a seamless yet
