The report further indicates that 76% marketers/strategists are looking to increase their budget allocation on influencer marketing campaigns this year compared to 62% last year.
“With social media now critical to all communications, influencer marketing is becoming an essential necessity for companies/brands today and they are increasingly relying on influencers to stay more connected and authentic with their respective audience. While celebrity endorsement brings along with it a global or national appeal to a brand, it is usually a one-way message whereas influencers interact with their followers in a more personalised manner helping start a more targeted conversation unlike the inaccessible celebrities,” said Shudeep Majumdar, co-founder, Zefmo.
The mix of unique ideas, tastes, strategies and the evolving penetration power of social media, influencer marketing has emerged as a more viable way for brand reputation. The influencers are proving to be cost effective while being more realistic when compared to their counterparts, celebrities. They are comparatively more engaged with their followers across all boards unlike the celebrities endorsing via old style channel which refers to better brand attraction.
There is a tough competition call between grabbing eyeballs for a particular brand via celebrity endorsement and via influencer marketing. An individual can quickly become a superstar with an engaged fan base that can even count to millions of people around the globe. The massive following of influencers on different social media platforms have blurred the definition of a ‘celebrity’. The incorporation of influencer’s for endorsing the brand has in turn also affected the marketing strategy.