Trust is the most critical factor in growing sales and revenue with potential and existing clients. Sales can effectively occur if companies believe that their product or service will provide a transformational life experience as promised by the marketing campaign. The prospect will not complete the purchase if they are filled with doubt, uncertainty, or a lack of trust. Influencers are well-known experts in their niche. Whether fashion, gaming, nutrition, or something else entirely, their audience turns to them for advice, training, recommendations, and amusement.
Influencers “lease” the trust they’ve built in their community to give their audience faith in a brand’s product or service. Influencers can be a way to reach good brand affinity; they motivate their followers to take action. Let’s find out how Kofluence paved its way into influencer marketing with the same mindset.
How Did Kofluence Come Into Existence?
Founded in 2019, Kofluence started its journey with a unique yet straightforward vision of disrupting the influencer marketing space. Kofluence observed potential in what outliers considered a “buzzword” a few years ago. Influencer marketing, at the time, was still in its nascent stages in the Indian market.
Slowly, many youngsters joined the team bringing in their creativity and the energy for their adventure. This accelerated their path to Kofluence, where they decided to democratise influencer marketing by connecting both Creators and Brands to benefit the market. From thereon, Kofluence hasn’t looked back and has only worked tirelessly to bridge the gap between brands and inspiring content creators with authentic collaborations that drive real value.
Where Does Kofluence Stand? What Is The Aim Of The Brand?
Kofluence is an Ad-tech influencer marketing platform that aims to empower brands and influencers through data-driven influencer marketing, social listening, creator discovery, workflow management and reporting. The company’s objective is to automate and simplify the entire campaign journey and provide a deep analysis of ROI-driven results.
That being said, Kofluence provides
- Brand Safety Control
- BI Powered Dashboard
- Trend Watching
- Creator Discovery
- AI-Driven Analytic
- Creative Centre
The data-driven approach that Kofluence exercises towards influencer marketing sets them apart and acts as a critical differentiator. The company has a variety of in-house proprietary AI-led analytics solutions that goes beyond vanity metrics, allowing brands to make better decisions and maximise their ROI. Think of Kofluence as a brand performance accelerator.
The Long Journey That Established Kofluence’s Position Today
Kofluence’s creator ecosystem has grown massively over the last couple of years by onboarding 110+ influencers and having a collective reach of over 1.9 billion.
While many celebs and macro content creators joined the Kofluence community, the company gave thousands of budding micro and nano creators the launchpad to kickstart their influencer journey. This was done by providing influencers with campaigns to monetise their content and the opportunity to work with some of the biggest brands in the market. More than 110k+ users signed up through their proprietary platform and opted into more than 350+ Influencer campaigns across diverse industries in partnership with Kofluence.
In the brand ecosystem, Kofluence has worked with a diverse clientele from over 25+ industries ranging from F&B, D2C, FinTech, MedTech, EdTech, Gaming, BFSI, Beauty, Hospitality and more. Moreover, their competitors involve both local and global markets in the influencer marketing strategy.
Kofluence is successful as per brand objectives, and its revenue model is proof of the same. Its revenue growth has been exemplary as they’ve grown 10X over the past year. They currently have 150+ brands working with us across multiple sectors including FinTech/ Gaming/ MedTech/ FMCG/ Hospitality/ Luxury/ D2C among others
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A Glance At Kofluence’s Brand Model
Kofluence provides assistance through barter and paid influencer campaign models. Their campaign themes range from app reviews, topical campaigns, sampling campaigns, contest/giveaways, brand awareness campaigns, product launches, etc. Depending on the brand KPI, creator category and budget estimates, they recommend the perfect social media strategy for influencer activations.
CPA (Cost per Acquisition), CPV (Cost per View), CPR (Cost per Reach), CPM (Cost per Thousand Impressions), CPI (Cost per Installations) etc are a few cost metrics used by them. Kofluence’s AI technology aims to forecast campaign metrics before brands go live, to attain the best results. Additionally, the company’s BI Dashboard provides brands with data-driven insights and a lot more, making it easier to present the result to respective teams.
Kofluence has partnered with Jubilant FoodWorks (Domino’s, ChefBoss), MPL, Dunzo, Games24X7, Sugar Cosmetics, Flipkart, etc PharmaEasy, Dhani, CoinDCX, Zoomcar, BharatPe, Swiggy, Titan, Xiaomi India to name a few.
Growth And Vision Of Kofluence?
Challenges vary with various stages of the organisation as well as the industry. Kofluence is currently working on innovative ways to help creators monetise their content and social value and help brands deliver good RoI by leveraging creators.
Therefore, Kofluence intends to build an assisted SAAS platform to become the go-to Martech destination for both brands and creators. Growing at a CAGR of 183%, they aim to touch a 1M creator base by 2022. To sum it up, its goal is to expand its creator and brand ecosystem, increase its global footprint and become the workplace of choice for top talents.
Constant alignment/ realignment with the market has helped them find the best product-market fit and, therefore, survive and thrive over the last several years. The company has a lot of exciting developments in the pipeline to support the creator economy. With the latest round of funding, they are excited to fire on all cylinders aggressively now.
The Team Behind Kofluence
Kofluence is the brainchild of two great minds – Mr. Ritesh Ujjwal & Mr. Sreeram Reddy Vanga. An IIM Calcutta alumni Mr. Ritesh Ujjwal did his B.Tech from Delhi University where he was awarded the IEEE-Gold medal for exceptional performance in B. Tech research project. He also attended Bocconi University, Milan (Italy), where he was rated as among the top 1% of the students.
Mr. Sreeram Reddy is a serial entrepreneur with over 16 years of experience. He is the Founder of Hustle Partners, a private equity firm. He is also the Founder of Innopark (India) Pvt. Ltd, which is building technology-driven companies. Sreeram is a BS EEE graduate from Purdue University and has been a tech enthusiast since his early days of being an entrepreneur.
