Dentsu India & Partners Release 'Impact Of Influencer Marketing In India' Report

The report states FMCG sector leading the market in leveraging influencer marketing, followed by BFSI and automobile sector

Dentsu India released its latest Dentsu Insights research, titled "Impact Of Influencer Marketing In India." The report was prepared in collaboration with Recogn, Boomlet Group, and IIT Delhi's Digital Behaviour Initiative.    

The report emerges into the various components of influencer marketing, shedding light on how it could transform businesses. The research provides brands and industries with the tools and insights required to create strategic paths for success by conducting in-depth evaluations of influencer marketing performance across various platforms, categories, formats, and target audiences.     

According to the report, the FMCG sector leads the pack in leveraging influencer marketing, accounting for 18.5 per cent of industry involvement, closely followed by BFSI at 16.6 per cent and automobiles at 15.9 per cent. While brand awareness has traditionally been the primary driver for influencer marketing, constituting 62 per cent, the industry's expansion has encouraged firms to seek out new ways to improve their customer-to-customer ratio. The rise of influencer marketing is due to its capacity to increase brand awareness. Influencers have emerged as crucial assets for marketing businesses and increasing product sales, due to the broad usage of social media. They have emerged as a critical component of an effective marketing strategy, as the content they produce has a substantial impact on customer behaviour.    

Danish Malik, Co-Founder and CEO, Boomlet Group added, "The influencer marketing ecosystem thrives on trust, a fundamental principle that will significantly contribute to the exponential growth of the industry. Today, we are thrilled to introduce our Influencer Marketing Report, offering valuable insights into the ever-evolving landscape of influencer marketing. This comprehensive report is the culmination of meticulous research and analysis conducted through a strategic partnership among Boomlet Group, Dentsu India’s Recogn, and the Digital Behaviour Initiative at IIT Delhi. As the influencer marketing space has emerged as a favoured component of brand promotion, consumers rely on influencers' perspectives to inform their purchasing decisions. Our report serves as an indispensable resource, equipping businesses with the knowledge to navigate the dynamic world of influencers and illuminating consumer behaviour within this ecosystem. Boomlet is looking forward to working on more reports like this in the future.”    

The virtual influencer market is expected to grow drastically in the years to come as marketers and brands realise the tremendous potential of adding virtual influencers to their campaigns. Artificial intelligence and virtual reality advancements will boost the powers of virtual influencers, increasing their popularity. Emerging technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR) show considerable potential for the future of influencer marketing. These advances will transform influencer marketing, capturing millennials and Gen Z, who are driven followers of social media influencers. As AR and VR become more popular, brands and marketers will use them to engage their target audiences through tech-driven influencer marketing methods.  

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 loyal followers. By partnering with influencers, brands can tap into this trust, build credibility, and authentically promote their products or services. The impact is tangible, with higher engagement rates, increased conversions, and improved brand sentiment. This report serves as an in-depth guide, equipping brands with valuable insights to shape their marketing strategies and drive business growth. As we look to the future, tech-driven influencer marketing strategies will continue captivating hearts and minds. The possibilities are limitless, and the potential for brands to connect with their target audience has never been more exciting.”  

Dentsu Insights examines multiple aspects of the digital sector, consumer behaviour, and more. In addition, the research addresses several essential subjects such as Instagram in India and user perspectives, voice technology in India, and internet usage in the native language.