India's Influencer Marketing Will Shoot Up To 34 Billion By 2026 According to a recent Ficci EY analysis, as businesses increasingly look to social-media influencers to increase sales and enhance brand engagement, India's influencer marketing industry is anticipated to grow to Rupees 34 billion by 2026, from Rupees 19 billion in 2023.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
According to a recent Ficci EY analysis, as businesses increasingly look to social-media influencers to increase sales and enhance brand engagement, India's influencer marketing industry is anticipated to grow to Rupees 34 billion by 2026, from Rupees 19 billion in 2023. Even while YouTube and Instagram are the most popular channels, smaller ones like Snapchat will also be utilized more frequently to connect with niche audiences.
A rise in Internet access, widespread digitalization, and widespread use of social media have all contributed to the growing inclination of consumers toward influencer marketing. However, the environment is set for these producers to start getting paid depending on how individual posts and videos promote particular outcomes, like, example, brand sales, thanks to the rise of regional and micro-influencers.
Compared to brand-led advertising, influencers are in a unique position to provide people exactly what they want. The realm of celebrity in the advertising and entertainment industries, which was once dominated by athletes, actors, models, artists, and so forth, has expanded to include those who began their careers as influencers and producers.
Planned Budgets
Influencer relationships are being enthusiastically embraced by brands and streaming services. They are affordable, connect with the appropriate audiences, and have a sincere sense, much like a friend's advice. Influencers are also skilled at telling tales that connect with readers and become viral, and marketers can quickly modify their approaches thanks to immediate feedback.
Influencers are already benefiting from social e-commerce, gifting, subscription-based content, and livestream shopping; however, offline communities that form as a result of online conversations may grow in number. Examples of these communities include fan events, health and fitness groups, influencer-created podcasts, closed group chats, and influencer podcasts.
Indeed, a number of specialized platforms are becoming more and more well-known in the Indian influencer industry, in addition to Instagram and YouTube. Due to its availability of augmented reality filters and short-form video content, apps such as Moj and Snapchat are becoming increasingly popular, particularly with younger audiences across many niches. According to industry experts, influencers are currently assessed by marketers using a number of important indicators, including as the demographics of the influencer's audience, views, average engagement rate, likes, and comments.
