Social media has given us power in different fronts. We had Arpan Soni, VP talent management and founding member of IPLIX media shed some light on how big influencers use their reach to build business empires.
The digital age has transformed the way we consume content and information, and with it, the rise of a new form of marketing: influencer marketing. In India, the influencer market has grown tremendously over the years, with social media platforms like Instagram, YouTube, and TikTok paving the way for influencers to build strong business empires. Influencer marketing is a form of marketing that involves leveraging the influence of individuals who have a significant following on social media platforms to promote brands and products. Influencers have the power to sway the opinions and purchasing decisions of their followers, making them valuable assets for brands looking to expand their reach and engage with their target audience.
One of the most notable examples of influencers building strong business empires in India is Bhuvan Bam, a comedian and YouTuber who has over 20 million subscribers on YouTube. Bhuvan started his career by creating videos on YouTube as a hobby, but over time, his content became popular, and he amassed a significant following. He leveraged his influence to start his own merchandise line, which includes t-shirts, caps, and phone covers, among other things. Another success story is of Tech burner, a popular tech creator and entrepreneur known for his quirky technology-related content. He started his career by creating tech-related content on social media platforms as a hobby, but over time, his content became popular, and he amassed a significant following. He leveraged his influence and ability to understand the young consumer’s choices and launched his clothing brand overlay and a D2C mobile and laptop skins brand, layers which amassed 7k orders within a few hours of launch. Tech burner, Bhuvan Bam, Kabita’s Kitchen are some of the few excellent examples of how influencers have evolved from being mere endorsers to becoming entrepreneurs in their own right, using their influence to create new business opportunities and revenue streams.
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Influencers also have the power to shape consumer behavior and drive sales. According to a study by Influencer Marketing Hub, businesses generate an average of $5.20 for every $1 spent on influencer marketing. This makes influencer marketing one of the most cost-effective marketing strategies available to businesses today. However, the rise of influencers has also led to some challenges. With the growing
number of influencers in the market, it has become increasingly difficult for brands to choose the right influencer to promote their products. Brands must now consider factors such as the influencer’s audience demographics, engagement rate, and authenticity, among others. Additionally, the influencer market has also been marred by issues such as fake followers and fake engagement, which can dilute the effectiveness of influencer marketing campaigns. To combat this, social media platforms have introduced measures to verify influencer accounts and monitor engagement rates.
Despite these challenges, the influencer market in India is set to grow even further in the coming years, with more and more influencers leveraging their influence to build strong business empires. The future of influencer marketing in India looks promising, with the emergence of new social media platforms and the continued growth of the digital ecosystem. In conclusion, the rise of influencers in India is a testament to the power of influence in today’s business world. Influencers have evolved from being mere endorsers to becoming entrepreneurs in their own right, using their influence to create new business opportunities and revenue streams. The future of influencer marketing in India looks promising, with more and more influencers leveraging their influence to build strong business empires. As the saying goes, influence is the new currency of the business world, and influencers are the new entrepreneurs of the digital age.
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