The moment the internet revolution came in India, it brought many things with it, opened many new opportunities for many people, generated employment, and created new streams of marketing. Whereas before the internet, people relied on offline modes of advertisement and marketing such as newspapers and magazines, after the internet revolution, a new branch of marketing came into existence known as digital marketing and social media marketing, which eventually created a sub-branch known as “influencer marketing.”
As more people connect with the help of social media through the internet, the branches are gaining more power daily. According to LinkedIn, the Indian influencer market will grow by more than 25% annually, which is massive for any industry. Currently, the Indian influencer market industry is at 12 billion INR, and in the upcoming years, by 2026, the industry will be at 28 billion INR, according to the LinkedIn report.
India is a vast country with various cultures that differ from city to city and many languages that change from state to state and region to region, which makes India a huge market for any industry. Various regional and local influences in India help the industry grow faster and motivate others to join social media and make content.
Many companies see various influencers as a market as they can reach a local audience in their local language and help the brand grow at a different pace.
The rise of influencers started with the help of TikTok. After TikTok banned many influencers, many found them between now and then, and that is where YouTube shorts and Instagram reels came into the picture. We saw how influencers can earn a handsome amount by making short videos and promoting some brand products. Brans soon realised that these micro- and macro-influencers could be so helpful for them as they connect regional people as compared to huge starts. People can’t connect themselves to those stars but can find them and connect to them, and their lives are also the same.
Many influencers also selected their niche content, which helped them grow, and their audience also selected their favourite influencers according to their liking, like many influencers detected to make content on food and many influencers selected to make content on beauty products, which also helped brands connect to influencers according to their needs.
According to a report published by CloutFlow, brands increased their budget by 50% for influencer marketing, and the return on investment is massive in terms of influencer marketing, which is making brands invest more and more money. Forget food and beauty product influencers; now there are people known as “FinInfleuncers,” who help people with finance ideas and their investment allocation, which is a huge help for many people who can’t afford a proper investment advisor.
On the other hand, Gen Z’s usage of social media has increased every year, and that is another reason why brands want to give priority to influencer marketing. Many new-generation brands and startups want their audience and consumers to be Gen Z, as we saw in SharkTank India as well, where many startups were focused on the young generation and wanted them to be their customers and consumers. That is where influencer marketing bosses brand businesses with the help of social media.
According to The Economic Times data, an influencer in India can make around INR 3,000 to 3 lakh for a single post; the amount can vary from influencer to influencer according to their followers and audience. According to the same data, the Indian influencer marketing industry will be worth more than 2,200 crore INR by the end of 2025.
In conclusion, it is important to understand that the influencer marketing industry will grow eventually as more people connect to the internet. Influencer’s followers are increasing, and people are following the trends that influencers are setting. That is the sole reason why many brands have a different department for influencer marketing, which helps them collaborate with influencers. On the other hand, in SharkTank India, we also saw WYLD, a startup that helps influencers earn money by collaborating with brands.