With more and more people joining social media, influencer marketing has gained much prominence. Since 2017, influencer marketing has been the most preferred option for most marketers and brands across industries. As per a recent report by Talkwalker, 72% of the people surveyed were planning to increase their influencer marketing budget in 2020. Moreover, the report concluded that 82% of women first surf social media before making a purchase. These statistics reiterate that there is high potential for influencer marketing in India. However, it takes real efforts for designing and executing an effective influencer marketing campaign that begets revenue. If you too are wondering how to make influencer marketing work for your business, 'Lets Influence' is the platform for you to to be.
Lets Influence understands the requirements of your business, connects you to suitable influencers and designs great influencer marketing strategies leading to conversions, and all these is done just within your budget. We interviewed Lets Influence founder Bhawna Sethi to know about the services and operations of the startup.
Lets Influence Highlights
| Startup Name | Lets Influence |
|---|---|
| Headquarter | Gurgaon |
| Founder | Bhawna Sethi |
| Sector | Influencer Marketing |
| Founded | 2018 |
| Parent Organization | Tree India E-commerce Pvt Ltd. |
| Website | www.letsinfluence.io |
About Lets Influence
Lets Influence - Founder
The Idea Behind Starting Lets Influence
Lets Influence - Name & Logo
Lets Influence - Business Model & Revenue Model
Lets Influence- Funding
Lets Influence - User Acquisition
Lets Influence - Challenges
Lets Influence - Growth & Future Plans
About Lets Influence
Lets Influence was founded in 2018 with a vision to disrupt the influencer marketing space by making influencer marketing affordable for even the young startups. Lets Influence offers customized influencer marketing services to companies, across industries. It is working with renowned brands as well as emerging startups to drive impactful influencer marketing campaigns aimed at driving brand awareness as well as increasing customer base.
Lets Influence's major USP is that the startup works with thousands of influencers across social media platforms like Instagram, YouTube and other channels, and while designing a campaign they do a deep-dive into data across influencers to churn out the best fit for the brand. The platform not just connects the companies to the best of influencers, but it also works with the companies to design their influencer marketing campaign, and provides insights on the performance of these campaigns. The best part about Lets Influence is that the platform is very affordable for small startups as well, as they design campaigns keeping in line with the brand's budget. The core objective of the company is to bring transparency and address the existing disparities in the influencer marketing industry.
Lets Influence - Founder
Lets Influence founder Bhawna Sethi comes form a management background,and holds an MBA degree in Marketing and International Business. Prior to starting her own venture Bhawna worked with Online Media Companies 'Indians News' and 'Entrackr' where she managed their social media marketing work.
The Idea Behind Starting Lets Influence
Bhawna 's idea behind starting Lets Influence is to make influencer marketing affordable for small startups as well. As Bhawna quotes,
"Over the years, I observed that influencer marketing was only the luxury of bigger brands with deep pockets.Also, I figured out that there is a huge disparity with regards to the charges of influencers, primarily depending on the agency they have partnered with. I did some research across my network and also referred to some secondary sources to understand the depth of this problem. Lets Influence was launched to tackle these challenges and to ensure that even younger and emerging companies can leverage the power of influencers"
Lets Influence - Name & Logo
The name ‘Lets Influence’ is coined keeping in mind the startup's commitment to enable any/ every company to explore influencer marketing.
"When we were deliberating about the company name, I wanted the name of the company to be such that it speaks for itself. It was very important that the company name gives a clear message about we do. There were many names that came to mind while brainstorming, but we decided to go ahead with this one as it was direct, precise, clear and in sync with our overall objective." Bhawna says narrating the idea behind the name 'Lets Influence'
Lets Influence - Business Model & Revenue Model
The startup partners with brands to design their influencer marketing campaigns. Lets influence charges the companies based on the type of influencers, the platform and the output expected from each influencer.
Lets Influence does not keep any margins on influencer prices and try to negotiate in the best possible manner with them. On every campaign, they charge a small agency fee which keeps the team motivated
In terms of price range, the startup claims to have led campaigns varying from INR 10,000 to a few Crores.
Lets Influence- Funding
As said by the Lets Influence founder, the startup raised some initial funds during its early days, most of which was spent for team building . The startup mostly remained profitable even during the COVID times, and currently is using its own revenues for growing further.
Lets Influence - User Acquisition
The startup has not spent much for marketing itself. Lets Influence got its first set of customers from its existing network, and the good recommendations from these first few customers helped the startup to add new customers to its kitty. The startup has been focusing on creating customer delight from day one, which has helped the startup acquire more customers through word of mouth publicity.
Lets Influence - Challenges
Like any company starting out, the initial days are difficult as one needs to establish brand credibility. The Lets Influence team faced challenges with regards to communicating the platform's USPs, as well as convincing startups that they could actually work with them to drive high impact influencer marketing campaigns. Initially, the team landed just small budget and pilot projects. Later with successful completion of projects, more and more brands placed trust on the platform. Today Lets Influence boasts to have the highest retention rate in the industry.
The Tik Tok ban also came as a challenge for the Lets Influence team as the platform had a large number of Tik Tok Influencers associated with it. Lets Influence has tackled this situation by creating a strong network of influencers across platforms like Youtube, Reels and new social media platforms like Mitron and Chingaari etc.
Lets Influence - Growth & Future Plans
In a little less than 2 years of existence, Lets Influence has already executed over 500+ campaigns for 50+ brands. The platform has managed and hand-picked 2500+ influencers across platforms including Instagram and YouTube, and has worked across the entire spectrum of influencers, ranging from micro influencers to top celebrities, across all regions & categories.
Lets Influence has successfully executed numerous brand awareness as well as high-impact lead generation campaigns for brands. The company has worked with renowned brands including Times Internet, Titan, Helo, Truly Madly, Snapdeal, Bombay Shaving Co., Nua, The Mom’s Co., amongst others. Lets Influence has a range of earphone/headphone brands as its clients including Boat and Go Noise.
In terms of growth, the team is very optimistic about the growth in FY21. The startup is already already witnessing a 4x growth as compared to that in the pre-Covid times.
With the pandemic impacting lives in 2020, billions of Indians have been stuck to their homes. This has, in turn, led to an exponential increase in the time spent by an individual on social media. As per a Kantar study, Facebook and Instagram traffic is up 40% for consumers under 35. Even if we talk about the post Covid times, social media engagement will only increase over time. As such influencers will be seen as a reliable source to not only promote specific products/initiatives, but will also help businesses achieve good recall value. Lets Influence team is all ready and willing to help businesses make the most through influencer marketing.
Author: Chayanika Goswami
Source : https://startuptalky.com/lets-influence-influencer-marketing-platform/
Date : 2020-09-07T08:51:04.000Z