Indian brands rooting for influencer marketing

With the rise of digitisation, social media has evolved into a platform for virtual communities as well as critical business tools. In this environment, the influencer marketing landscape has expanded rapidly. According to a Brand Equity report, the Indian influencer marketing industry is poised to grow at a CAGR of 25% to reach INR 2,200 crore by 2025.

Today, influencer marketing is considered one of the most influential methods of increasing a brand’s online presence and connecting with a target audience.This relationship between brands and creators enables businesses to broaden their reach across numerous consumer profiles and target the audience they wish to reach, providing enterprises with access to a substantial creative economy to tell their stories.

The majority of firms in India have created social media relationships with the creative economy in recent years. Numerous companies have gained from improved conversion touchpoints, customer retention, brand loyalty, and trust-building for forthcoming products. As influencer marketing with nano, micro, and macro influencers is a cost-effective way to interact with audiences and a powerful instrument for creating compelling content that can be utilised in the long run. With the collaboration, both brands and influencers are earning tons of revenue. According to experts, the influencers with 1 to 2 million followers are earning approx 4 to 5 lakh per content.

According to Statista, globally there are businesses that have become native to influencer marketing who allocate close to 25-30% of their budgets on the practise. Influencer marketing has so far been fruitful for firms and a tactic that assists in achieving a high return on investment (ROI).However, brands such as fashion, food and beverage, and so on, want to make the most of the influencer marketing approach, they must focus on the campaign and monitor the outcome influencers are bringing in. Social media has evolved drastically and each media platform has unique dynamic aspects in its use and applications. Benefits of Influencer Marketing includes:

Cost-effective: Influencer marketing is a low-cost marketing technique since businesses do not need to invest largely.There are no hidden fees; they only need to sell their goods on a social media account.

Quick turnaround time: Influencers interact with their audiences frequently, which builds trust and makes people look up to their content. This illustrates why influencer marketing is such a popular marketing strategy.

Personal and relatable: The personal touch and relatability that influencer marketing provides are one of the most crucial reasons marketers use it to generate product awareness.

This article is attributed to Yulia Aslamova, Head of Asia, DRIM- India’s only performance based influencer marketing platform.