The software shift: Transforming India's influencer marketing

Digital marketing is changing fast, the integration of software solutions has become a game-changer, especially in influencer marketing. While this trend has already made significant strides in Western markets, there is immense untapped potential for brands and agencies in India to use software for data-led, insights-driven influencer campaigns.

The rise of software in influencer marketing Influencer marketing has grown exponentially over the past decade. According to Mordor Intelligence, the global influencer marketing industry was valued at $16.4 billion in 2022 and is projected to reach $30 billion by 2026.

In Western markets, brands have rapidly adopted software solutions to streamline their influencer marketing efforts, from influencer discovery and campaign management to performance tracking and analytics. In India, the influencer marketing sector is growing fast, driven by a young, digitally savvy population and increasing internet use.

According to Qoruz, the influencer marketing industry in India was valued at INR 1900 crore ($228.92 million) in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 25%. Despite this growth, many brands and agencies have not fully adopted software solutions that can enhance the efficiency and effectiveness of their influencer campaigns.

Why adopt the latest software

One of the primary challenges in influencer marketing is identifying the right influencers who align with a brand's values and target audience. SaaS platforms offer advanced search and filtering capabilities, enabling brands to discover influencers based on various criteria such as follower demographics, engagement rates, and content relevance.

These platforms also provide tools for managing influencer relationships, streamlining the collaboration process. Software solutions also empower brands and agencies to plan influencer campaigns based on data-driven insights.

By analysing past data and audience metrics, brands can make informed decisions about which influencers to collaborate with, what type of content resonates with their audience, and the best time to run their campaigns. This approach reduces guesswork and increases the chances of campaign success.

Another significant advantages of using SaaS platforms in influencer marketing is the ability to track campaign performance in real time. Several platforms offer comprehensive analytics dashboards that provide metrics on reach, engagement, sentiment, and return on investment (ROI). This level of transparency allows brands to measure the effectiveness of their campaigns, make data-backed adjustments, and demonstrate the value of influencer marketing to stakeholders.

L’Oréal Paris has effectively leveraged influencer marketing software to boost its brand presence. By utilising data-driven insights, the beauty brand has been able to identify key influencers, plan targeted campaigns, and track performance metrics, resulting in increased brand visibility and sales.

Another notable example is Dabur India, an ayurvedic and natural products brand that has adopted influencer marketing software to manage its extensive network of influencers. Through advanced search and management tools, Dabur has streamlined its influencer collaborations, leading to more effective and efficient campaigns.

The road ahead for India

The adoption of software solutions for influencer marketing in India is still in its early stages, but the potential is vast. As more brands and agencies recognise the benefits of data-led, insights-driven campaigns, the demand for advanced influencer marketing platforms is expected to rise.

To accelerate this adoption, industry stakeholders must focus on educating brands about the advantages of software integration. Additionally, software providers should continue to innovate, offering features that address the unique challenges of the Indian market.

The integration of software in influencer marketing represents a significant opportunity for brands and agencies in India. By leveraging advanced tools for influencer discovery, campaign planning, and performance tracking, marketers can enhance the efficiency and effectiveness of their campaigns.

Praanesh Bhuvaneswar, co-founder and CEO of Qoruz