Influencer Marketing is the future of digital marketing and is here for the long run.
Influencer marketing is a fusion of old and new marketing techniques. It involves the concept of celebrity endorsement in a modern content-driven marketing campaign. The main differentiator in influencer marketing is that the movement results in collaborations between brands and influencers. Influencer marketing involves a brand working with an online influencer to promote one of its products or services. Some influencer marketing collaborations are less observable than that; for example, brands may work with influencers to increase brand recognition. Influencers, unlike celebrities, can be found in any location. They could be anybody. Their significant online and social media followings are what makes them influential. A famous fashion photographer on Instagram, a well-read cybersecurity blogger who tweets, or a respected marketing executive on LinkedIn can all be considered influencers. There are influential people in every industry—you have to look for them. Some individuals will have hundreds of thousands (if not millions) of followers. However, many will appear to be ordinary people. They may have only 10,000 followers or even fewer in some cases. Nonetheless, they will have established a reputation as experts in their field.
In recent years, most brands in India have been linked to the creator economy via social media. This method assists brands in raising awareness for new product launches, staying top-of-mind with their customers, building loyalty, and increasing conversion touchpoints. Influencer marketing with Nano, micro, and mid-tier influencers is not only a low-cost vehicle for reach and engagement. Still, it is also an effective tool for creating an extensive content library that will be useful in the long run. Nano-influencers may be overlooked by brands new to influencer marketing due to their small family of followers. However, Nano influencers have the highest engagement despite having a minor following. Nano-influencers outperform every other influencer category on social media, with an average engagement rate of 7% and a video view rate of 60%. They also have an estimated reach of 30% and the highest average engagement rate on Instagram, at 8%. Micro influences are also not far behind. According to one study, consumers are 30% more likely to buy a product recommended by a micro-influencer than a product promoted by a celebrity.
Influencer marketing is not only here to stay in India, but it will also evolve. Specific industries are ripe for the brand use of influencers.