Influencers are becoming an indispensable part of a brand’s marketing metrics. Earlier, purchasing behavior was heavily influenced by the product messaging relayed through advertisements. Now consumers repose greater faith and trust in people, celebrities or others they follow on social media platforms. Make-up and global beauty major L’Oreal was among the first to sense this shift. Its NYX brand was the first in the category to be launched online in India last year, and the company relied heavily on influencers.
Influencers are social media users who have the power to affect purchase decisions of others because of their authority, knowledge, position or relationship with their audience. On Instagram, they can earn anything between Rs 40,000 and Rs 60,000 for a single advertisement post. Instagrammers with between 2,000 and 9,000 followers are paid up to Rs 16,000 per post.
However, when it comes to social media influencers, it is quality and not quantity that matters. Influencers with organic and smaller sets of followers are the ones that attract attention. Brands need to constantly identify credible micro influencers who fit their criteria and develop a deeper relationship with them as opposed to selecting just one mega influencer. It is akin to not putting all the eggs in one basket as mega influencers carry a higher risk of an image crisis which can take down the brand being endorsed by them.