Regulating social media influencer marketing space will standardize the industry and retain the trust of the consumers, believes Vidit Aatrey, founder and chief executive officer, Meesho.
During the first edition of the Moneycontrol Startup Conclave, Aatrey discussed bringing more transparency in the influencer marketing ecosystem, Meesho’s focus on mass media platforms and highlighting the new brand identity of the company.
Aatrey says that while regulation is a broad and subjective topic and a lot also depends on what kind of regulations are being introduced.
“I believe influencers are a very powerful and strong channel. Consumers rely on influencers before they make any important purchases. So, really maintaining trust of consumers and influencers is very important. If regulations are coming to make that trust stronger, I think it’s a great thing, but it should not limit the potential of influencers eventually,” he shares.
He goes on to explain that it shouldn’t be very hard for any influencer to follow rules, and creativity should not be inhibited.
“…that would be counterproductive. But I think if regulation can really help standardize and also retain the trust of the consumers,” he notes.
Meesho actively works with influencers. In fact, in June 2022, the e-commerce company said it had sent legal notices to select social media influencers and certain people in contact with them for allegedly running smear campaigns against the company. These influencers were allegedly posting negative content about the company and tagging their investors.
Talking about the importance of generative AI for a company like Meesho, Aatrey says that technology can enhance productivity. He says it helps in marketing too.
“Generative AI is able to do a lot more be it in SEO, creating customised notifications for customers. So, that’s another area where we are investing a lot. And I would say the third big area of actually investing in is there a marketplace for small businesses to put up their listing and sell it to consumers. So how can we help our sellers improve the quality of their listings? It could be a product description, it could be the photograph of the product. I think as a company, we’re very excited about generative AI because the possibilities right now are endless,” he shares.
Meesho has recently mounted a massive campaign titled ‘Sahi Quality at Sahi Price’ that features actors Deepika Padukone, Ranveer Singh, Ram Charan and Trisha.
Aatrey says that since last two years ago, the company has been doing more mass marketing leveraging TV a lot because Meesho consumers are everywhere.
“One of the big things that we did recently is a brand refresh that kind of talks about the kind of inclusivity we are bringing in a brand that is not just for women, but for all genders. It’s not just a one income segment but for all of them is not just in one category like fashion, but a horizontal marketplace where you can come and buy from all kinds of small businesses in one place. And the reason for the marketing campaign is also in the same lines,” he explains.
Aatrey also spoke about how founders are simplifying content and educating their consumer base using multiple social media platforms. His go-to platform though has always been Twitter.