(L to R) Aleks Koha – CEO of Promoty OU and Yateesh Srivastava – CEO of IMP Marketing Services
Mumbai (Maharashtra) [India], April 1: Promoty OU, a European Influencer Management Platform based in Tallinn, Estonia, has formed a joint venture (JV) with IMP Marketing Services to introduce their products and services in India and Southeast Asia. As part of the JV, Promoty OU will own 40% stake in the new joint venture and licence their platform to IMP Marketing Services.
Promoty offers an innovative platform where brands can filter database of influencers by their statistics, audience age, location, and other demographical aspects. Brands can further check detailed insights for every influencer in the world with respect to followers’ growth over time, previous collaborations, interests, similar profiles and notable followers. This automated process makes interaction between influencers and brands considerably more efficient and effortless.
“Currently a major chunk of the market is based on personal and non-automated interactions between brands, agencies and influencers and this results in lower compensations and delayed payments for influencers”, said Yateesh Srivastava – CEO of IMP Marketing Services. “These are some of the major challenges which we will address along with bringing in a fresh global database and perspective to the industry at large.”
Commenting on the JV, Aleks Koha – CEO of Promoty OU said, “We are excited to partner with IMP Marketing Services for our maiden foray into the Indian market. The influencer marketing segment in the country is at a nascent stage and has a huge growth potential in the coming years. Today many brands worldwide would like to reach out to their customers through an organic and non-advertising manner and this is where Promoty intends to differentiate itself through efficient workflows and advanced analytics that will allow both brands and influencers to make smarter decisions based on data.”
In India, influencer management platforms are still in their infancy, with lifestyle and fashion influencers dominating the industry followed by beauty and travel. Food, entertainment, parenting, health, and fitness influencers are also on the upswing in the influencer list. The JV will allow Promoty OU and IMP Marketing Services to grow its footprint in India’s enormous market and subsequently into rising Asian economies like as Indonesia, Vietnam, Thailand, Korea, and Japan.
Promoty was founded in Estonia in 2017 by Aleks Koha and Leonardo Romanello. Promoty has run over 4000 influencer marketing campaigns in eight markets focusing on the Baltics, Scandinavia, and The Netherlands. Promoty believes that the strongest collaborations are born when brands find influencers who are already their fans. Promoty’s mission is to become the global market leader in providing valuable, meaningful, and authentic relationships between marketers and influencers.
IMP was founded in India in 2021 by Yateesh Srivastava – an established business leader – and Ishika Bhargava – a Gen Z influencer with over 300k followers on Instagram. IMP intends to use the Promoty platform to change the face of influencer marketing in India by expanding its reach and mining valuable insights based on advanced data analytics. IMP intends to expand its footprint into other emerging Asian markets after establishing a strong presence in India.