The Changing Landscape of the Social Media Influencer Marketing Industry

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In a world where individuals regularly use social media, every working professional should know at least one key premise of digital marketing. The emergence of social media has changed the communication practices of Indian social media users. According to the ResearchGate report, the number of Indian users is growing rapidly and is expected to reach 370.77 million by the end of 2022.

Another report from Statista reports that due to the availability of internet access by 2040, the country’s social media users are expected to reach nearly 1.5 billion. The report further states that the increased internet availability and access, spurred by the federal government’s Digital India initiative, has been directly proportional to the expansion of social media users towards the growth of the digital marketing sector. . Simply put, digital marketing is the advertising of a product through the internet or any other type of electronic media.

According to a report by Expert Market Research, the global digital marketing industry has a substantial impact on the Indian digital marketing market. The report further states that the industry is growing at a CAGR of 17.6% and is expected to be valued at over USD 930 billion by 2026. The growing preference of the global population for digital social media platforms is the main driver of the industry.

Social media has disrupted many industries and created unprecedented opportunities for consumers. Influencer marketing is a great example of this, allowing previously anonymous clients to complement and, in some cases, surpass standard marketing campaigns.

Influencer Marketing – An Understanding

Influencer marketing is a type of marketing in which influential people are employed to promote a business to a wider audience. In Layman’s parlance, anything that influences a buying decision is called influencer marketing, like word of mouth on a larger scale. Influencers are social media opinion leaders with a large social following base. They present themselves as authorities or trustworthy sources of information. Any campaign today starts with setting the brand tone and hiring the right influencers to increase reach.

Influencer marketing has radically transformed the way people think about marketing today. The concept has evolved over time and these forces are now driving the market via content. With the help of influencer marketing, brands have carefully expanded their reach to reach their target audience where they are. This is usually done on digital platforms such as Instagram, YouTube and others, which are among the main platforms where an influencer marketing campaign begins. Today, the market has grown so much that we see vernacular content in short video clip apps.

Evolution over the years

Marketers have moved from celebrity endorsements to micro-influencers across many channels, justifying each investment by addressing the appropriate target group. Traditionally, influencer marketing has focused on reaching the general public through television, radio or newspaper advertisements without worry, however, even this trend has changed dramatically with the drive towards holistic growth and experience. top of the line. Influencer marketing also helps brands see results in real time. If there’s an offer for a limited time, or if there’s a new collection launch, we’ve seen how influencer marketing helped drive maximum sales for a very limited time that can be tracked. and measured. And as a result, we’re seeing more and more brands adapting to an “always-on” influencer strategy, which is a key area of ​​the marketing funnel.

Influencer Marketing: Benefits

To improve your marketing strategy, influencer marketing is an effective way to achieve business goals and even reduce expenses. The trend also has benefits by breaking the dry spell.

Profitability

Some marketing tactics require regular financial injections. A well-planned influencer marketing approach can help you get better results for lower rates, or even allow you to barter in the future. Influencer marketing can benefit the business by increasing brand awareness and online presence, while ensuring lead generation. The company can select different forms of influencer marketing campaigns depending on your goals.

Brand awareness

Marketers use influencer marketing to increase brand recognition, and it works pretty well. Opinion leaders tell their followers about their brand’s story, mission, and values. It automatically expands reach and positioning on the Internet.

Content strategy enrichment

Influencer marketing is a fantastic way to spice up your social media posts. The influencer’s content may be republished by the company, or its followers may be encouraged to create user-generated content.

Lead generation

Marketing is used by brands to create leads. And many people believe that this channel generates higher quality leads than other channels. People are generally happy with the businesses promoted by their favorite blogger. Even better, certain types of information, like reviews, attract warmer prospects to the middle of the sales funnel.

Influencer Marketing: Essential for the Future Landscape

In recent years, the Internet market has become crowded, with a steady decline in attention given to any piece of content, especially when discussing a product, brand or proposition. It’s the invisible line that influencer marketing draws between a vetted product and strategic, skilful marketing with entertainment content.

However, most influencers are still keen to be open and honest with their audience in order to support growth in the competitive landscape. Along with the evolution of the social scene, there is clear and definite growth on the future of influencer marketing.

To summarize !

Influencer marketing has grown from a small concept to an ecosystem without which the marketing world cannot function. Influencers today also understand their importance and want a longer-term sustainable benefit with brands than a one-time transaction. We’ve also seen models where influencers earn a certain % of revenue from products they endorse. What could make it even better is a set of new principles that give this industry the structure to increase trust between businesses, influencers and us, the end consumers.

Influencer marketing is now a powerful tool for increasing online visibility, increasing brand recognition, and acquiring high-quality leads. As a result, the concept of influencer marketing is changing the landscape of the emerging social media industry. Influencer live streaming is the next big thing, where we see online product sales happening in real time.



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The opinions expressed above are those of the author.



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