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David Appassamy
The sustained shift in marketing focus from offline to digital media is, quite simply, because consumers are moving inexorably from traditional to digital media. They are already spending more time on digital platforms and his OTT than on TV, and this change in behavior will continue for the next five years or more. What all this means is that marketers must shift their marketing initiatives to where consumers are spending their time to be effective.
With the dawn of the information age, information was democratized and freely available to everyone. Over the past two decades, another major seismic shift has occurred as technology races to develop ever more powerful devices to access this information and the platforms that power them.
The device of choice for access has shifted from laptops to tablets and finally to smartphones, which are the easiest and most affordable to use. It was Apple that caused a paradigm shift with the launch of the iPhone, ushering in an era of smartphones with increasingly sophisticated features. As such, it is a disruptive technology that has revolutionized not only phones, but cameras, video recorders, and music recorders.
This puts the ability to capture high-quality digital photos, record audio, and HD video all within reach of anyone with a smartphone. No more buying expensive cameras, audio and video recorders. Your smartphone does it all. This has sparked a new kind of social revolution, with an explosion of consumers using these features to share photos and videos with each other.
Tech entrepreneurs quickly realized the potential, spawning YouTube, Google Photos, and other photo-sharing sites that encourage up-and-coming music artists to record and upload their own songs and videos. . Soon, we saw an explosion of talent as great talent rose to fame and eventually became stars online.
Soon, not just a few talented people, but everyone was using their smartphones to experiment with self-expression. , Hundreds of local stars emerged as they gained followers. Other video platforms followed, forcing Instagram and Facebook to change from photos and posts to include reels and stories.
Even YouTube, the pioneer and behemoth of the user-generated video revolution, needed YouTube Shorts to keep up with the short-form video revolution as a form of self-expression. As consumers across the spectrum experimented with video and became more and more proficient at scripting and shooting impactful videos, some began to gain followers.
This quickly led to these consumers being dubbed ‘influencers’, garnering a sizable audience and brands looking to reach consumers online. As soon as marketers started using them to introduce, create awareness, or promote awareness and understanding of new concepts, they realized: Influencers had a deeper impact on their audience than celebrity endorsers due to the relationships they forged through their content.
Research shows that it is more cost-effective to use hundreds of influencers across the country than to use Bollywood celebrities to endorse products. The influencer also acted as a marketer for Micro Her, delivering custom Her scripted video content for brands to appeal to their audience. This worked much better than his one Pan India video with celebrity endorsers.
The “creator economy” was born when influencers quickly emerged as creators of custom content for brands, achieving marketing goals in a style familiar to their followers.
However, there were many problems with this trip. First of all, how do brand managers in one metropolitan area of the country identify influencers in another and create content in a language unfamiliar to them? , how do you know you are effective and your followers are real? How can we work together? How can we see followers and determine if an influencer’s fee is reasonable? Finally, we can track campaigns across multiple influencers (or creators) and How can we assess its impact?
To address these pain points, influencer marketing agencies have launched databases of influencers that can be contracted with brands across the country and campaigns managed by the agency with a management fee or a percentage of the influencer’s fee. There are many such agencies today, but the opportunity has been spotted by several, including well-known names like Influencer.in, Eleve Media and LetsInfluence.
Today, using influencers is part of many brands’ marketing mixes and budgets. The creator economy, which was valued at Rs 200 crore in 2021, is expected to grow to a size of Rs 80 crore by 2025. Start thinking about how you can be more effective with the right kind of data and analytics.
Influencer marketing agencies have sites that provide details of influencers registered nationwide, but in the future, marketers will be able to communicate, engage, monitor and measure their performance against set goals. It’s about evolving into a platform. From enabling access and managing influencer relationships, to enabling marketers to leverage creators, to enabling them to develop customized and impactful content, to promoting, monitoring and monitoring their performance. Moving towards measuring and analyzing is how the market evolves.
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