The influencer marketing topic is bought to the limelight due to the courtesy of Badshah, as he is being investigated by the police for allegedly paying money in order to purchase fake followers for promoting his music.
It is believed that fake followers and fake influencers are not being used by people in various industry for the first time and these are not new concepts. With the request of staying anonymous, a content professional at a new economy brand says’ “But a celebrity’s name coming up in a fake views scam can potentially raise doubts on the follower count of several content creators who’ve built their fan base organically through years of work.’
Influencer marketing is coming up as the fastest growing category in the 21,000-crore digital advertising space for various advertisers. “Influencer marketing has effectively taken over the entire digital marketing space in the last few years,” says a PepsiCo India spokesperson.
As covid-19 has taken a hit to the world, businesses like fashion, automobile and travel have halted their ad spends. “consumption across edtech, fintech and FMCG has gone through the roof during this period,” notes Viraj Sheth, co-founder of Monk Entertainment, a Mumbai-based talent management and influencer marketing firm. “Brands in these categories that have not been able to do proper ad shoots have hiked their influencer spends by 20%-30% and some of the influencer videos have been used for digital promotions across social media accounts,” he adds.
5 years ago, there were only five-odd reputed agencies in the influencer marketing space. Today there are as many influence marketing firms as there are influencers. Influencer pricing is an elaborate mess. In today’s times influencer marketing needs standard pricing, measurable impact for campaigns and contract between agency and creators.
Nikunj Lotia also known as Be YouNick, the content creator said, “When I started over three years ago, I didn’t have the option to say “no” to any price. I didn’t know how much to charge. Then I started talking to people in the industry.” Now when someone approaches him with a query around pricing, he tells them, “Think of an amount you ‘think’ you deserve and ask for four times that.”
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