FMCG sector leads in leveraging influencer marketing, followed by BFSI and automobiles: dentsu Insights report

The FMCG sector leads in leveraging influencer marketing, accounting for 18.5% of industry involvement, closely followed by BFSI at 16.6% and automobiles at 15.9%, as per a new report by dentsu Insights.

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 and Digital Behaviour Initiative at IIT Delhi.    

The report delves into the various aspects of influencer marketing - shedding light on its transformative potential for businesses. By conducting thorough analyses of influencer marketing performance across different platforms, categories, formats, and target audiences, the report equips brands and industries with the tools and insights necessary to chart strategic pathways for success.     

As per the report, while brand awareness has traditionally been the primary driver for influencer marketing (62%), 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.  

In the coming years, the virtual influencer market is set to grow significantly as brands and marketers realise 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 revolutionise 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.     

https://www.dentsu.com/sg/en/reports/the_impact_of_influencer_marketing_india   

Harsha Razdan, CEO, dentsu South Asia, said, “Influencer marketing has revolutionised 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.”  

Danish Malik, Co-Founder and CEO, Boomlet Group, added, "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. 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 behavior within this ecosystem. Boomlet is looking forward to working on more reports like this in the future.”