FMCG, BFSI and automobiles lead the pack in leveraging influencer marketing

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 (62 per cent), the industry's growth has prompted brands to explore additional avenues to enhance their customer-to-customer ratio.

The surge in influencer marketing stems from its ability to amplify brand awareness. With the widespread adoption of social media, influencers have emerged as indispensable assets for promoting brands and driving product sales. They have become a pivotal component of an effective marketing strategy, as the content they create exerts a significant influence on customer behaviour.

Dentsu India has released its latest Dentsu Insights report titled 'impact of influencer marketing in India’. The report has been created in collaboration with Recogn - Dentsu India's research division, Boomlet Group - an influencer marketing and crisis communication agency and digital behaviour initiative at IIT Delhi.

In the coming years, the virtual influencer market is set to grow significantly as brands and marketers realize the vast potential of incorporating virtual influencers into their campaigns. Advancements in technologies like artificial intelligence and virtual reality will enhance the capabilities of virtual influencers, driving their popularity even higher. The future of influencer marketing holds great promise with emerging technologies such as Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). These innovations will revolutionize influencer marketing, captivating millennials and Gen Z, who avidly follow social media influencers. As AR and VR gain traction, brands and marketers will leverage these technologies to engage their target audiences through tech-driven influencer marketing strategies.

Talking to Bizz Buzz, Danish Malik, Co-Founder and CEO, Boomlet Group says, "The comprehensive report offers invaluable insights into the ever-evolving influencer marketing landscape, highlighting the pivotal role influencers play in shaping consumer purchasing decisions. By leveraging influencers' unique personas, engaging content, and expansive reach, brands can authentically connect with their target audiences, foster trust, and drive consumer engagement. Boomlet Group is excited to continue delivering such indispensable resources, empowering businesses in the realm of influencer marketing.”

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, he said.

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 favored 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.”

Harsha Razdan, CEO, Dentsu South Asia, said, “Influencer marketing has revolutionized 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.”

For the record, dentsu Insights from Dentsu India, are periodically published reports based on primary research conducted by Recogn - the network’s research division that provides consumer and business insights to its audience. Dentsu Insights delve into the different aspects of the digital industry, consumer behaviour, and more. Additionally, the research also covers some relevant topics like Instagram in India – users’ perspective, Voice Technology in India, and the usage of the internet in the local language.