The Rise of Influencer Marketing: Why Brands Are Investing More

Did you know that influencer marketing is on fire in India?

The Influencer Marketing Boom

A lot of companies are putting their money into influencer marketing. A fresh new report by EY states that over 70% of brands are investing in it. All these brands think that it is a great way to sell their products to the right customers.

Rapid Growth Predicted

In India, there are around 4 million people who call themselves influencers. They use their social media popularity to promote various products, and many of them try to sell such items to their followers. This has become a very big deal in India.

Exponential Future Growth

According to the report, the influencer marketing business is expected to grow by 25% in 2024. That means it will reach a value of around INR 2,344 crore. Lifestyle, fashion, and beauty brands are leading the way, but other industries like cars, online shopping, and everyday products are joining in too.

The report is based on a survey of 2,053 people, including brands, influencers, and industry experts. It shows that more and more companies are seeing the value of using influencers to reach customers.

The Influencer Landscape

In the future, most brands are likely to use influencer marketing in their advertising. And many of them are planning to spend even more money on it next year.

Diverse Creators and Platforms

One reason for this is that lots of people in India use smartphones and spend a lot of time on social media. So, it makes sense for companies to use influencers to advertise their products where people spend their time.

When brands choose influencers to work with, they look at things like how many people engage with their posts and whether they reach the right audience. They care more about getting people interested in their products than making immediate sales.

Micro and Nano Influencers Gain Traction

Even though big influencers can reach a lot of people, many brands prefer working with smaller influencers because they’re cheaper. But smaller influencers often get more engagement from their followers.

Challenges and Opportunities

Some popular social media platforms in India for influencer marketing are Instagram and YouTube. But new platforms like Chingari and MX TakaTak are also becoming popular.

Challenges for Brands and Influencers

Brands usually pay influencers a fixed fee for their work. But some brands are trying out different payment methods to make sure they get good results.

For influencers, this is a good time. Short video platforms are becoming more popular, especially in smaller towns. This means more opportunities for creators to make money.

Booming Short Video Platforms

But there are challenges too. Brands find it hard to measure the success of their influencer campaigns. And influencers have to work hard to keep their audience happy and trusting.

Overall, influencer marketing is growing in India, and both brands and influencers are benefiting from it.

Conclusion

After all, you know why big brands are investing in this trend. If you are also interested in influencer marketing and looking for an influencer marketing agency in Delhi to promote your product or company, then look no further than DMTE services.