Influencers – Road to Glory!

Social media has un-nerved a new specimen, commonly known as ‘the digital influencers’. The influencer has grown exponentially with the rise in consumption of digital content and rising social media users. These social media influencers have a privileged fan base that run into thousands, and sometimes millions and as users spend more time-consuming content during the protracted lockdown, a vital shift has been triggered in the influencer marketing segment with various brands offering branding engagements with a variety of influencers.

Brands offer contracts for product placements, for appearances, events and even for video creation. The influencers can earn a whopping sum of INR 3-4 lakh per month on brand signing fee where their main job is to constantly increase and engage a follower base alongside promoting brand products.

Influencer marketing therefore bestows a capability to market on brand’s behalf which thrive under the hybrid formula of generating a return on investment which is at par or sometimes beyond the returns from other marketing channels and avenues. Also, the influencer medium has set a higher demand due to ever increasing demand in the e-commerce marketplace. digital marketing experts estimate a 20% jump in influencer marketing campaigns.

Organic growth of brands and serious marketing through influencers have resulted into deeper brand engagements and tremendous rise in social media, directly influencing millions of people, thus creating a fanbase and a potential customer for brands.

According to industry experts, pandemic has accelerated the growth of influencers marketing and this period was also marked a higher growth rate due to of traditional medium of television programming prompting higher content consumption online. Also, India’s influencer market is estimated at US 75-150 Mn a year, while global market stands at USD 1.75 Bn.

In India, people spent around 3.22 hours per day on their smartphones, which increased to 3.54 hours during the lockdown period and time spent was on social networking sites. This increased time spent on social media has prompted brands to work more with content creators and influencers as engagement on social media platforms.

With influencers becoming the opinion makers who can slip a brand into a consumer’s consideration set, influencer marketing is gradually increasing its share in a company's digital ad spends.

Perhaps in a post-Covid scenario, it is very unlikely for the influencer market to mute down as followers will still start looking at their influencer’s world with higher expectations. It is estimated that the business of influencers may not hit a rocky road and instead, reach its glory beyond ends!

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