We all have come across our favorite bloggers and influencers showcasing products and raving about it. At one point or another we all have felt like buying those products. But do you know that brands collaborate with these people to advertise and highlight its products features in their videos. But………
WHO IS AN INFLUNCER?
· An influencer is a content creator with a social media following.
· Social media influencers develop a following by sharing quality content that inspires, entertains, informs, and connects them with their followers
· Influencers start social conversations, drive engagement, and set trends amongst a receptive audience, which positions them to work with brands on sponsored content.[1]
WHAT IS INFLUNCER MARKETING?
Influencer marketing involves a brand collaborating with an online influencer to market one of its products or services. Some influencer marketing collaborations are less tangible than that – brands simply work with influencers to improve brand recognition. [2]
It is also true that even though influencer marketing is trending what our traditional media is lacking is the sense to realize the same. The traditional media is stuck on celebrities to endorse products whereas the prior has turned a little out of fashion as most of the crowd is probably watching videos on these social media platforms than on the television.
An early example of influencer marketing involved YouTube celebrity PewDiePie. He teamed up with the makers of a horror film set in the French catacombs under Paris, creating a series of videos in which he underwent challenges in the catacombs. It was pitch-perfect content for PewDiePie’s 27 million subscribers and received nearly double the views as the movie’s trailer. Everybody won.[3]
That’s a simple example. It’s easy to imagine a celebrity teaming with a company to pitch a product—even if the pitch is a series of 10-minute videos instead of a 30-second television ad. [4]
But people wouldn’t be talking about influencer marketing—you wouldn’t be at a website called the Influencer Marketing Hub reading about it, either—if it didn’t have a much broader set of applications. And the key is in that word, influencer.[5]
How effective is influencer marketing?
A study conducted by the influencer marketing hub stated that the industry was predicted to be worth $7.7 billion in 2020. The average earned media value was $5.78 per dollar spent on influencer marketing in 2019. This means that, on average, a dollar spent on influencer marketing can generate $5.78 worth of publicity for your business. 91% of our respondents believed influencer marketing to be an effective form of marketing.[6]
Are influencers regulated for marketing products in India?
Yes. The Advertising Standards Council of India (ASCI) had released a few guidelines in May,2021 and are applicable since June 15th,2021. Through these guidelines, ASCI aims to educate influencers, brands and content creators about their ethical obligations and looks to provide clear guidelines in the disclosures process. By introducing these guidelines, ASCI will help consumers, brands and content creators ensure that all stakeholders’ interests are preserved through a self-regulatory approach.
ASCI.Social[7] is a platform for influencers and creators to learn about how they can be more responsible and maintain the trust of audiences and brands.
[1] https://mediakix.com/blog/influencer-definition-marketing/
[2] Werner Geyser, What is Influencer Marketing: An in Depth Look at Marketing’s Next Big Thing, influncermarketinghub.com (July 14th, 2021), https://influencermarketinghub.com/what-is-influencer-marketing/
[3] Ibid
[4] Supra Note 2
[5] Supra Note 2
[6] Supra Note 2
[7] https://asci.social/about
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