Influencer marketing is a Rs 900 crore sector with a potential worth of Rs 2,000 crore. With the internet being available in every part of India, social media has grown in popularity, with over two-thirds of the Indian population following an influencer. Furthermore, nearly 70% of influencers claimed in a poll that they don’t have time for a full-time job as they are completely immersed in the side hustle, which brings them substantial income to earn a living. According to a new survey, the influencer market in India is increasing, with a new report estimating that by 2025, it would grow by 25% yearly and will be worth Rs 2,000 crore. The sector is estimated to generate Rs 900 crore this year alone.
The South Korean survival drama Squid Game, one of Netflix’s most successful shows, skyrocketed in popularity in India as influencers created a plethora of content centred on it. Influencers such as YouTuber Mythpat and content producer & fashion blogger Dolly Singh teamed together to play a rendition of Netflix India’s Squid Game, which attracted viewers’ curiosity. This year, brands from various sectors, like Netflix, are turning to social media influencers to reach their intended audiences, expanding the reach of influencer marketing.
So what else has caused this rise in the influencer economy? What will the future of influencer marketing look like? And how can you connect with your target audience, build your website and escalate your career? Read on and know all the answers to these questions below in this article.
What are the key factors that have caused the rise of influencer marketing?
The pandemic and the increase of marketers wishing to interact with consumers directly are causing the influencer marketing sector to undergo a transition. Here are a few of the most important causes for this surge-
- The relationship of trust and authenticity that social media influencers share with their audiences has piqued the interest of companies, allowing them to harness the same by partnering with an influencer.
- The surge has corresponded with the COVID-19 epidemic, with individuals using the internet as a source of diversion. India had 400 million people on social media before the outbreak, but that figure has increased dramatically.
- Since the pandemic, there has been a substantial shift in consumer behaviour, driving the rise of influencer marketing agencies.
Celebrities account for 27% of the influencer radar, while influencers account for 73%. Influencers and creative storytelling are likely to connect with brand distinctiveness, which is a critical benefit as attention spans shorten. Currently, an influencer is followed by about two-thirds of the Indian population and is sure to rise in the near future.
What will the future of the influencer economy look like?
Existing and prospective influencers and producers will have a wealth of chances in the next year. Long-term partnerships are the first and foremost. With each passing day, more and more businesses understand that influencer marketing provides unrivalled ROI. As a result, they’re investing more in the influencer market in India, particularly long-term collaborations. Aside from that, content regionalisation will continue to gain traction in the future years. In the following year, “live streaming” is expected to become one of the most generally recognised and used influencer marketing methods. When used properly and creatively, the live-stream function gives all types of influencers and content providers equal opportunities and rewards.
While influencer marketing is still a relatively new sector, with the Metaverse becoming more mainstream, there is a strong probability that it will take off swiftly and grow into a multibillion-dollar virtual economy. In fact, this may happen much sooner than we anticipate. One clear trend is the prevalence of short video content, which many platforms, particularly Instagram influencers, rely on.
Influencers building and launching their websites, inspired by their expertise in a particular industry, passion, or real-world experience, was one of the phenomena that stood out this year, and will most probably trend soon. And if you are a creator or educator and hold expertise in your field, then here’s an opportunity for you to go with the trend and reach new dimensions in your career.
Kohbee – e-solution for a hassle-free teaching experience
Unfold the benefits of online classes with Kohbee’s online teaching app. Kohbee e-solutions is created to fulfil the needs of today’s educators, allowing them to conduct online classes easily. We provide a stress-free environment for instructors who are passionate about their work. Our teaching app is jam-packed with features that help you get the greatest outcomes at your desk. Thanks to our talented developers, who have painstakingly designed every aspect of this educational programme with complete precision and accuracy. Kids want sophisticated learning in today’s fast-paced world. The activities must be completed immediately; else, pupils’ attention spans will be reduced, perhaps affecting your teaching business. But there’s no need to worry; Kohbee’s online teaching app, which is simple and completely free, encourages all those dissatisfied teachers to implement new solutions in their classrooms.
From the ease of collecting homework and conducting tests to automated payment links, manage all your teaching tasks in the one-stop platform of Kohbee. Install now!