How Big Is The Influencer Industry?

Impact, Trends, And Challenges

- Sandesh Bhosle

Change is the only constant, and social media influencers are the latest example of this thought. Earlier, brands were desperate to sign celebrities to promote their products as celebrities were the centre point of what people would follow. In recent times, a lot of things have changed due to the circumstances.

Influencers came into the marketing world when brands realised collaborating with 100 influencers has more benefits than signing one celebrity for a year. It saves time and money and also allows products to reach an audience it deserves. Handing over a product to influencers for collaboration always works in the favour of the brand.

WHY INFLUENCERS OVER CELEBRITIES?

With the increasing popularity of social media platforms such as Instagram, YouTube, Facebook, and Twitter, individuals started gaining substantial followings and building their personal brands online. These individuals (often called influencers) can connect with their audiences on a more personal level compared to traditional celebrities.

Influencers gained credibility by sharing their personal experiences, stories, and opinions. Their content often came across as more authentic and relatable, fostering a sense of trust among their followers. This authenticity made their endorsements of products and services more impactful compared to traditional advertising methods.

The rise of social media influencers is a result of the evolution of digital marketing and changes in consumer behaviour. Every influencer has its niche, such as fashion, beauty, fitness, travel, and technology, which allows brands to collaborate with them by aligning with their target demographics.