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Introduction:
In this episode, we're joined by Molly Tracy, the CEO and founder of VRAI Digital, a boutique talent management agency specializing in influencer marketing. Molly shares her journey from starting in social media to becoming an influencer marketing expert, and we dive into the challenges and opportunities in the influencer marketing space.
Molly's Journey:
Molly's entrepreneurial journey started with a journalism background. She began her career working with Bliss Skincare, handling social media. She fell in love with social media and moved into influencer marketing as it was emerging. Her transition to talent management and influencer marketing was a turning point in her career.
Challenges of Growing the Business:
One of the key challenges Molly faced while growing her business was scalability. In a commission-based business like talent management, balancing revenue and expenses can be a constant challenge. She emphasizes the importance of lean operations and maintaining an understanding of every facet of your business.
Adapting the Business:
Molly highlights the importance of allowing your business to evolve and adapt to shifting market demands. The initial vision of your business might change as new opportunities arise. Being flexible and open to change is crucial for long-term success.
Incorporating Influencer Marketing:
Molly offers advice on how different businesses can benefit from influencer marketing. She suggests that nearly all industries can utilize influencers, and it's about defining clear goals for your influencer campaign. Influencer marketing can range from creating awareness to driving conversions, and businesses need to choose the right approach for their objectives.
Steps for an Influencer Campaign:
Molly walks through the steps of running an influencer campaign for a business. It includes identifying niche creators, providing them with an experience of the product or service, offering them a discount code to share with their audience, and ensuring proper reporting to track the campaign's effectiveness.
Longevity of Partnerships:
The longevity of influencer partnerships depends on the category of the business and its goals. Conversion-based campaigns may be shorter, while awareness and trust-building campaigns benefit from long-term partnerships. Molly explains the importance of multiple touchpoints to drive purchases.
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