"Finnet Media has forged partnerships with numerous creators across various domains": Finnet Media's Ayush Shukla

"Finnet Media has forged partnerships with numerous creators across various domains": Finnet Media's Ayush Shukla

Social media marketing harnesses the power of social media platforms to promote brands.

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Mumbai: Influencer marketing, also known as branded content or working with creators, is a way to expand the reach of your brand on social media.  An influencer is someone who can influence others. Influencer marketing is a form of social media marketing wherein influencers are hired by brands to promote and amplify the brand messaging to their followers.

An influencer is someone who wields their influence through social media. When you hire an influencer to promote your products or services, that’s influencer marketing. People often follow individuals they trust on social media, so if they see someone they follow advertising your business, there's an inherent trust factor you can lean on to boost your conversion rate.

Finnet Media, an influencer marketing agency, was founded by Ayush Shukla in 2021, an entrepreneur at heart, a podcast host, marketer, content creator, and also recognised as LinkedIn's Top Voice 2022. The company works to build strong and truthful relationships between brands, creators and consumers. The driving force behind Finnet Media is to provide the best quality content and services to millions of social media users.

Indiantelevision.com caught up with Finnet Media founder & CEO Ayush Shukla to talk about the company’s goals, its vision and to know more about the concept of influencer marketing.

Edited excerpts

On launching this agency in 2021 when the world was returning from the pandemic and choosing to start something like Finnet Media

Finnet Media, established in 2021 caters to a specific market of financial influencers. We recognised the potential of the creator boom and sought to capitalise on it. Reflecting my entrepreneurial journey, I acknowledged the transformative impact of the digital revolution triggered by the COVID-19 pandemic. This revolution altered the way consumers engage with content and information on social media, coinciding with the flourishing creator economy. Inspired by these developments, I always wanted to create a platform catering to this emerging niche.

Initially, Finnet Media began with just two creators in 2021. However, it has since expanded significantly, boasting a roster of 35 exclusive creators affiliated with the platform. Through strategic collaborations, Finnet Media has forged partnerships with numerous creators across various domains. This growth trajectory has propelled Finnet Media to its current position of prominence in the industry.

Finnet Media has extended beyond quantity, therefore I prioritised the quality of content provided. In today's saturated market, I believe that offering concise yet informative content in short one-minute videos is highly valued. This emphasis on delivering useful information has contributed to the success and expansion of Finnet Media.

On the concept of social media marketing and its functions

Social media marketing is a strategic approach that utilises social media platforms to promote products, services, or brands and engage with a target audience. It involves creating and sharing compelling content through various social media channels to increase brand visibility, drive user engagement, and ultimately achieve marketing goals.

The concept of social media marketing revolves around leveraging the immense popularity and influence of social media networks. These platforms, such as Facebook, Instagram, Twitter, LinkedIn, and YouTube, provide an opportunity for businesses to connect with their audience on a more personal and interactive level.

The functioning of social media marketing involves several key elements. Firstly, content creation is crucial. Marketers develop relevant and engaging content tailored to specific platforms and target audiences. This content can include informative articles, visually appealing images, entertaining videos, and interactive polls or quizzes.

Building a community around the brand is another key aspect. Marketers actively engage with their audience by responding to comments, messages, and reviews. They foster a sense of connection and trust, which can lead to increased brand loyalty and advocacy. Encouraging users to share, like, and comment on content helps expand the brand's reach through user-generated content.

Social media marketing harnesses the power of social media platforms to promote brands, engage with the target audience, and achieve marketing objectives. It involves content creation, profile optimisation, audience targeting, community building, and utilising paid advertising options to maximise results.

On the sudden rise in digital content and influencer marketing and its impact created on today’s society

Digital content and influencer marketing have significantly increased over the past several years for a number of reasons. The ubiquitous accessibility and availability of the internet and social media platforms is a significant factor. The demand for digital material has surged as more people use smartphones and other linked gadgets. The COVID-19 epidemic further enhanced this tendency as more people engaged in social isolation practices and spent more time online.

Influencer marketing has gained popularity because it provides businesses with a fresh and efficient method of connecting with their target markets. Influencers are people with a sizable internet following and impact who have earned the respect and trust of their followers. Their comments and endorsements can influence customer perceptions and purchase choices since they are viewed as relatable characters. As a result, companies now understand the advantages of working with influencers to market their goods or services.

The growth of digital content and influencer marketing has had a wide-ranging effect on contemporary culture. It has, however, democratised the production and dissemination of material. Content may be created and shared by anybody with an internet connection and some ingenuity, potentially reaching a large audience. As a result, a variety of voices and viewpoints have emerged, promoting better inclusion and representation in the media.  Technology improvements and shifting consumer behavior are behind the sudden increase in digital content and influencer marketing. While it presents possibilities for inventiveness, targeted advertising, and a variety of viewpoints, it also raises questions about transparency, mental health, and the reliability of influencer alliances. For the development of a healthier and more accountable digital media environment, it is essential to strike a balance between the advantages and disadvantages of this phenomena.

On ASCI putting various guidelines on influencers

The introduction of guidelines by ASCI for influencers is a welcome development in the realm of influencer marketing. These guidelines serve an important purpose in promoting transparency and ethical practices in the industry. By providing clear directives on disclosure of sponsored content, endorsements, and other advertising-related aspects, ASCI's guidelines help protect consumers from potentially misleading or deceptive content. The presence of fake influencers in the industry is indeed a challenge that needs to be addressed. While ASCI's guidelines primarily focus on promoting transparency and ethical practices, they may indirectly contribute to weeding out fake influencers as well. By enforcing clear directives on disclosure and advertising practices, the guidelines make it more difficult for fake influencers to deceive their audience or engage in fraudulent activities.

To further weed out fake influencers, we are adopting some measures such as:

1.    Scrutinising engagement metrics: Examining the authenticity of an influencer's followers, likes, comments, and overall engagement can provide insights into their genuine influence and audience reach.

 2.   Analysing audience demographics: Understanding the demographics of an influencer's followers can help determine if they align with the target market. Suspicious or irregular patterns in follower demographics could indicate fake followers.

 3.   Verifying collaborations and partnerships: Checking an influencer's past collaborations, partnerships, and brand affiliations can help verify their credibility and track record in the industry.

 4.   Conducting background checks: Thoroughly researching an influencer's online presence, content history, and reputation can uncover any red flags or inconsistencies.

 5.   Seeking genuine recommendations and referrals: Recommendations from trusted sources, industry professionals, or influencer marketing agencies can help identify authentic influencers who have demonstrated professionalism and integrity.

 6.   Utilising third-party tools: There are various tools and platforms available that analyse an influencer's profile for signs of suspicious activity, fake followers, or engagement manipulation.

It's important for brands and marketers to exercise due diligence and employ a multi-faceted approach to validate the authenticity and credibility of influencers. By implementing these measures in combination with ASCI's guidelines, the industry can work towards eliminating fake influencers and fostering a more trustworthy influencer marketing landscape.

On the vision and mission of your agency

Finnet Media is driven by a mission to foster creativity, inspire young individuals, and help them establish their personal brand. Since its inception, the company has not only engaged in fruitful collaborations with top innovators but has also forged strong partnerships with influential cultural entities. This success can be attributed to the team's unwavering commitment to producing high-quality work, their perseverance, and the trust placed in them by stakeholders and investors. With scalability as a key strategic objective, Finnet Media aims to ensure that all content producers associated with the platform have peace of mind regarding their financial stability, content monetisation, and content distribution.

In the year 2023, our focus is on nurturing the entrepreneurial spirit of our creators by encouraging them to explore consultancy services, ad productions, and brand newsletters. This year will be marked by a heightened emphasis on entrepreneurship, complementing our ongoing brand collaborations and partnerships. From a talent management perspective, we are determined to extend our creators' presence beyond social media platforms by diversifying into offline avenues. This approach not only strengthens their community but also adds depth and significance to brand collaborations, transcending mere advertisements. In the next coming three years, we aim to expand year after year, our ultimate goal is to become the leading influencer marketing firm, particularly in the finance domain.