Instagram this year will maintain its spot as the no. 1 platform for influencer marketing amid growing competition from TikTok around the world.
Brands in India will continue to spend hundreds of crore on influencer marketing on Instagram, ahead of Google’s Youtube Shorts.
Nano Influencers or other social media users with fewer than 5000 followers, make up the fastest-growing segment in influencer marketing with an increase of 220.5% this year 2022.
Brands can benefit from the rivalries among social media apps to be the best home for influencers and creators which will help to derive engagement with organic content and paid social media advertising. As Instagram and Youtube face great rivalry, the platforms are likely to work harder to court influencers by giving them more tools to get high engagement. High engagement means influencers will have more options to give sponsorships from multiple brands.
The rivalry among social media apps in influencer marketing is a part of the dynamic that’s how brands seek customers. Because millennials and the new generation are not interested in ordinary advertising. Brands are partnering with such influencers whose opinions affect the purchase decision of customers.
Almost two-thirds of the new generation of consumers ages 18-40 in India said ordinary ads are annoying and disruptive. While others say they don’t like to watch advertisements on television anymore. InfluencerHai.com survey found that 73% of the younger consumers trust product reviews from “a person that seems like them”, while the other 62% trust the recommendation from the same influencer. The science of authenticity makes influencer marketing an essential tool for brands.