Transformative Strategies: The Journey of Indian Influencer-Entrepreneurs

Being an influencer and an entrepreneur does not seem to complement each other until you learn about a few great influencers who have managed to turn their online fame into a thriving business. Here's a deeper look into the strategies and mindset they applied to achieve this success.

Culture-oriented Marketing

• Indian consumers connect faster with communication that is culture-driven. Brands like Beardo utilized this, employing terms like 'macho' and 'man' that resonated with their audience.
• A brand should be seen as bigger than a single person or influencer. This helps in broadening the customer base and increasing acceptance in different sectors, such as YouTube, sports, and films.
• Timing, e-commerce, and idea creation are essential in consolidating brand marketing.

Product Differentiation

• The key to product differentiation lies in understanding the customer and offering something new that resolves an existing issue. For instance, Renee's 5-in-1 lipstick, which combined multiple shades into one product for a reasonable price.
• A product should also have a marketing 'hook', something that sets it apart and markets it in a unique way. This combination can lead to viral products.
• Speed is also a part of product differentiation; customers value instant payoff and visible results.

Building a Brand

• Incorporating faces that consumers can connect with—whether famous personalities or YouTube influencers—can bolster a brand's reach and reputation.
• Understanding the timeline and cultural context is crucial. For instance, 'Beardo' spoke to Indian men at a time when the nation was appreciating the cultural shift of beard grooming.
• Being mindful of the changing times and consumer behaviors can help alter brand strategies for the better. For example, Renee managed to stand out by offering an affordable range of perfumes for women, which was a unique market move.

Three Key Takeaways

1. To effectively market and differentiate a product, understanding the culture and preferences of the target audience is fundamental.
2. The brand should be perceived as broader than a single person or influencer—even if a famous one—so as to ensure a broader consumer base.
3. Being adaptable to changing times and consumer behaviors is key to remaining relevant and successful in the evolving market.