Wondrlab to further invest in influencer space after acquiring Opportune, OPA

New Delhi: Following its acquisition of Opportune in 2022 and the recent addition of OPA in the influencer marketing sector, Wondrlab is actively seeking to expand its portfolio by acquiring more influencer-marketing-driven companies in the future.

Saurabh Varma, Founder and CEO of Wondrlab Network, shared with BestMediaInfo.com his openness to further acquisitions in the influencer marketing sector. 

He stated, “We aim to collaborate with exceptional founders who have gone beyond the status quo. They should have a strong belief in their vision, know how to scale and influence the market and seek partnerships for enhanced access or capital. That’s where we come in to fuel their growth.”

Varma emphasised, “We are not seeking founders who cannot operationalise and generate revenue. They must have a product that fundamentally creates value for clients.”

Notably, the acquisition of OPA marks Wondrlab's sixth acquisition overall and the second influencer marketing agency it has brought into its fold, following Opportune.

Varma revealed that this is just six of an ambitious acquisition plan of 26 agencies and that Wondrlab plans to acquire 20 more agencies in the next few years. 

Varma noted that the combined strength of OPA and Opportune will provide brands access to a powerful network of 450,000 influencers, enhancing collaboration opportunities and expanding their reach to a diverse client base. 

He further emphasised the distinct strengths of each agency, stating, “While Opportune leans heavily into creativity with influencers, OPA excels in the realm of commerce.” 

This synergy aims to deliver a more comprehensive service offering for brands looking to amplify their influencer marketing strategies.

With the abundance of influencer marketing companies in India, Varma believes that those with access to capital, superior technology, and effective solutions will thrive. 

He said, “80% of the companies I know in the marketing space are not only unprofitable; they’re actually making losses or barely breaking even. Many have focused solely on scaling without a viable monetisation strategy, and they will struggle to survive.”

Throwing light on the challenges in running influencer marketing-led businesses, Varma said, “Many young founders have scaled their businesses rapidly, leading to a degree of commoditisation in the market,” he noted. This surge has resulted in intense competition, where numerous companies offer similar services and products.

Varma emphasised the importance of differentiation in such a crowded field. “Each agency must carve out its unique identity to thrive,” he explained. He believes that this is where the magic happens—when companies harness their distinct strengths and innovate beyond the status quo.

While there have been several conversations around influencer marketing becoming more performance-driven in the times to come, Varma suggested that instead, it will evolve to focus more on mid-funnel engagement.

He explained that influencer marketing effectively bridges the gap between the top and bottom funnels. “Every time someone has tried to use influencer marketing purely for performance, it hasn’t done well,” he noted. According to Varma, the true strength of influencer platforms lies in their ability to nurture potential customers as they journey from awareness to transaction.

“There’s a significant role for influencer marketing in that middle funnel,” he elaborated. “While the top funnel generates awareness and the bottom funnel drives transactions, it’s in that middle space where influencers can truly shine.” 

Concluding the conversation, Varma projected a 50% quarter-on-quarter rise in influencer marketing spending for Q2 and Q3, aligned with the festive period. He also expects at least a 30% year-on-year increase in influencer marketing expenditures, highlighting a growing acknowledgment of the medium's value during peak shopping seasons.