Dentsu India has recently released its latest dentsu Insights report on the ‘Impact Of Influencer Marketing In India’. The report has been created in collaboration with Recogn – dentsu India’s research division and Boomlet Group – an Influencer Marketing and Crisis Communication Agency.
The report delves into the various aspects of influencer marketing shedding which aims to equip brands and industries with the tools and insights necessary to chart strategic pathways for success. According to the repor, 70% Indians believe that influencer marketing has influenced them to know more about the brand or to purchase the product. FMCG sector leads the pack in leveraging influencer marketing, accounting for 18.5% of industry involvement, closely followed by BFSI at 16.6% and automobiles at 15.9%.
While 62% of the respondents agree that brand awareness has been the main motivator for influencer marketing industry’s expansion. It has also compelled firms to look at other options to improve their customer-to-customer ratio. Influencers have become essential resources for marketing companies and boosting product sales as a result of the growing usage of social media, says the report.
Commenting on the findings of the report, Harsha Razdan, CEO, dentsu South Asia said, “Influencer marketing has revolutionised our approach to connecting with potential customers and elevating brand awareness. With the exponential growth of social media platforms, influencers have cultivated loyal and engaged followers – making them indispensable assets in our marketing strategies. They possess a unique ability to foster trust and credibility among their followers. By partnering with influencers, brands can tap into this trust, build credibility, and authentically promote their products or services.”
The differentiating factor between influencers is the type of content they create. As per the report, entertainment creators are mostly followed by people with 37%, followed by lifestyle and fashion both at 28% and food with 21%. The report further highlights that Instagram is the most preferred platform for the brand at 73.6%, followed by Youtube with 14%. The other platforms that marked a position in the report are twitter and linkedin with 4% each, and blogs at 2%.
Adding further, the report states that most people find content formats including videos and short videos like reels more appealing with 34% and 33% respectively. This is followed by vlogs at 30% and images at 21%.
“The influencer marketing ecosystem thrives on trust, a fundamental principle that will significantly contribute to the exponential growth of the industry. As the influencer marketing space has emerged as a favored component of brand promotion, consumers rely on influencers’ perspectives to inform their purchasing decisions,” Danish Malik, co-founder and CEO, Boomlet Group added.
As per the dentsu study, the virtual influencer market is set to grow significantly as brands and marketers realise the vast potential of incorporating virtual influencers into their campaigns. Advancements in technologies like artificial intelligence and virtual reality will enhance the capabilities of virtual influencers, driving their popularity even higher, the report added.
The report asserts that the future of influencer marketing holds great promise with emerging technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR). As AR and VR gain traction, brands and marketers will leverage these technologies to engage their target audiences through tech-driven influencer marketing strategies, the report concluded.