Rise of Influencer Marketing in India
As the pandemic refuses to let go of its grip on society, people are adapting to how they can reach their potential audience. Gone are the days off buying tons and tons of impressions on websites with extremely poor click through rates in the name of branding. Now, brands expect not only coverage but also action they can measure on the back of their marketing activities.
This is why influencer marketing has experienced an unprecedented boom especially in a country like in India. Influencers were conceived out of a guerrilla way to deal with innovation, and innovation has been key in empowering this area to flourish. All it takes for an influencer to market the product is a phone and a decent internet connection. Platforms such as Instagram , Twitter and Tik Tok (before it was banned) are adequate enough mediums for marketers to use to promote the products.
Influencer Marketing Gets the Job Done!
As per a recent interview, it was found that that for every dollar spent on influencer marketing, the company makes back at least $5.20 with the more advanced and effective marketing strategies achieving a return of $20 plus. 63% of these companies according to Influencer Marketing Hub were planning to increase their influencer marketing budget even further.
It therefore comes as no surprise that brands in India are clamouring for the latest sensations that are popping up on the internet. While it no doubt pays off to get mega Bollywood stars such as Shah Rukh Khan to promote products to their insta audience, companies are now also on the lookout for new relatively unknown and no doubt more cost effective stars as well.
Key principles of influencer marketing
The challenge that brands face in the wake of this new marketing phenomenon is finding influencers that have a legit and genuine audience. Too often we hear of stars buying their influencer audience in a bid to look more attractive to their prospective employers. After all the value of an influencer is first judged on the basis of their follower base.
An influencer profile with a good number of followers immediately seems more attractive compared to one with less. However, quantity is not the only concern here. Quality and by which we mean the authenticity of the followers is extremely important. The more ‘real’ the audience the greater is the likelihood of that audience to interact with what the influencer is promoting on that day.
For companies, a few key challenges remain. First relates to searching for the right influencer. As mentioned above, both size and the engagement levels of an influencer are extremely important. Second, how does one reward an influencer and third relates to how one measures the ROI of this channel against others.
Obscure Industries & their Use of Influencer Marketing
With the cost of smartphones coming well within the reach of most Indians, the online gaming market is experiencing a massive boom. Social gaming platforms such as Dream 11 and My11 Circle are gaining millions of customers every month. Even former Indian cricketers such as MS Dhoni and Sourav Ganguly are jumping on the bandwagon and are becoming brand ambassadors for these gaming platforms.
These gaming platforms bank on the mass appeal of these former cricketers to engage with their audience. Real money gaming operators have also started making their way towards the Indian market. They realise the potential of the billion plus people holds for them. Cricket betting sites such as Betway are using supermodels such as Nargis Fakhri to promote their brand. JeetWin have gone for a somewhat controversial ambassador in the likes of Sunny Leone who has now become the face of this online casino. Both starlets have tons of followers on their social platforms and encourage people to play on these sites.
It is therefore clear that influencer marketing is here to say. It gives people who were made jobless in the wake of the pandemic to whip out their phones and broadcast their messages to people all over the world. Some will use their charm to attain followers and make a living while others might use shock to promote to their audience.
Regardless of what tactic is being, it is evident that influencer marketing will be here for quite some time.