Featured Interview:StartUp BuzzGuru is Changing the Landscape of Influencer Marketing
StartUp BuzzGuru is a platform that helps companies with swift and easy influencer marketing.
Influencer Marketing is no longer a buzzword but an emerging reality in the field of marketing. Retailers all around the world are becoming more aware of the benefits they can reap out of it.
In this year, 72.5% of marketers plan to increase their influencer marketing budgets. BuzzGuru in this current marketing ecosystem is quite relevant and has a platform of genuine YouTube influencers from worldwide with a combined reach exceeding 1.25B subscribers. BuzzGuru offers a solution for companies and enterprise players that enables them to launch, manage and analyze promoted Youtube campaigns.
Recently the startup launched its analytical tool which provides access to valuable information in regards to their competitors, app installs advertising insights in general.
The European startup was founded in 2017 by Pavel Beinia. InvoNews caught up with CEO Pavel to find out how he came across the idea of this innovative platform. And how BuzzGuru plans to scale its analytics platform in the coming years and much more.
Tell us about yourself?
In a few words, I am a serial IT entrepreneur. With over 10 years of experience in influencer marketing and the mission to make the industry transparent and measurable, I have launched several digital projects, including an influencer marketing agency, a marketplace that brings together advertisers and influencers, and a marketing intelligence platform.
Can you tell us about BuzzGuru briefly? How does BuzzGuru work?
BuzzGuru is the global influencer marketing ecosystem that includes a performance agency and a marketing intelligence platform for marketers to search for relevant influencers for their ad campaigns. Influencer marketing discovery and competitive intelligence platform provide marketers with valuable insights and analytics on influencers’ performance and competitors’ campaigns on social media.
The influencer marketing agency brings together data-led performance, trusted partner relationships, expert creative approach, and accurate media targeting across Instagram, YouTube, TikTok, and Twitch.
How did you come up with the idea of this analytics and intelligence platform, was there any specific motivation for this?
Since 2017, BuzzGuru has been a creative influencer marketing agency focusing on helping advertisers from Europe, Latin America, CIS, SEA, Arab, and Tier-1 countries to reach the target audiences and bring the highest ROI from their social media campaigns.
But despite all the visible creativity of agency work, in fact, it comprises tons of manual and routine tasks. Thus, when we saw that the agency is growing rapidly, we faced the dilemma: either we need to hire more employees to do the repetitive tasks or we need to come up with high-tech solutions to streamline the agency’s work. We have chosen the second option and decided to eliminate manual tasks and human mistakes from the equation. Digitalization is a must in the modern world and high technology is a winning bet. BuzzGuru keeps up with the times and even tries to get ahead. Thanks to our high-tech solution, we not only got rid of the need to burden new people with boring duties but also saved our employees from monkey work.
Step by step we started to develop and implement automation tools into our day-to-day operations. First, we collected a database of all the influencers on social media with their general information – it helped us easily find the relevant influencers for the ad campaigns in any GEO and genre. Second, we noticed that it took us a lot of time to update the performance metrics (such as engagement rate, average views, audience quality rates, etc.) of each influencer manually – thus we automated this process as well.
When we finished the optimization of all the possible workflows of our own agency and looked back at what we’ve achieved, we realized that we developed a bunch of separate automation tools for influencer marketing that can be aggregated into one viable product – influencer marketing intelligence and analytics platform.
The increase in the number of users after Covid has changed the landscape of marketing too? Tell us how BuzzGuru is helping with these changing marketing needs?
Covid has definitely changed the marketing landscape. Since more brands went digital, the performance of traditional paid advertising channels (Facebook, Instagram, Google ads, etc.) has lost its initial efficiency. Cost per acquisition is inevitably growing, the retention rate is dropping, the market share is falling down – thus the companies have to turn to other user acquisition channels.
Since the main point of influencer marketing is the personal recommendation from a content creator or an influencer, such a type of advertising shows very high-performance indicators for many brands. In this year, there is no question of whether you do or don’t need to run influencer marketing campaigns. The question is: how to make the most out of your influencer marketing campaign. Using BuzzGuru’s influencer marketing intelligence platform advertisers can easily find relevant influencers for their campaigns with minimal human and time resources, as well as spend their budgets smartly and more efficiently.
It is never easy to start a startup as there are a lot of new challenges. InvoNews wants to know about the challenges you have faced in this journey?
The biggest challenge that we faced on the way was the inconsistency between the demand and supply. The original idea behind BuzzGuru was to create a marketplace that brings advertisers and bloggers together. However, when we completed the platform, we found out that there is no product-market fit for that. We created the product no one needs. So, the main challenge was to face reality and not to give up on our main goal – to create a transparent and measurable environment for digital marketers and content creators.
When developing BuzzGuru influencer marketing intelligence, we took our previous experience into account and analyzed the market first. We surveyed the potential customers on the features they would like to see in the platform, measured the market for the product, and then started to turn all our ideas into life.
As we know, BuzzGuru has achieved a lot in a short period of time, and it was also named as the most promising startup in the EU. So what is your next big target?
Since the very beginning, BuzzGuru has been a perfect fit for both startups who want to try it with influencer marketing and large enterprises with in-house influencer marketing teams. Thus we’ve gained the trust of more than 500 companies in a few months only. Marketers from all over the world now use the BuzzGuru influencer marketing tools to research and gather analytics on influencers’ and competitors’ campaigns.
But we’re not going to stop here: we keep saturating our platform with even more features to help our customers drive sales via the influencer marketing channel. We’re constantly improving our algorithms to provide our customers with the most accurate and recent data and analytics. So, as you can see, our next big target is to thrive from “the most promising startup” to “the industry standard” in the influencer marketing field.
What do you think is the major reason behind the failure of the startup?
I believe there are three major reasons behind the failure of the startup:
the team: if your team isn’t excited about the mission of your company if they lack the desire to disrupt the industry with innovations, you’ll need far more time to succeed;
product-market fit: your product should match the demand of the market;
belief in yourself and the product: when there is a will, there is a way.
What is your current read?
Tap Dancing to Work: Warren Buffett on Practically Everything” by Carol J. Loomis.
What is your golden rule?
Never give up, never back down