Yes, influencer marketing is impactful The latest

Transcript:Yes, influencer marketing is impactful The latest:
Yes, influencer marketing is impactful The latest report by EY and Collective Artists Network’s Big Bang Social, titled "The State Of Influencer Marketing in India," indicates significant growth in the industry. Influencer marketing in India is expected to surge by 25% in 2024, reaching INR 2,344 crore, and expand to INR 3,375 crore by 2026. +25% Values in INR crores Market Size and Expected growth 75% brands are expected to consider influencer marketing as part of their marketing strategy. 56% of the brands invested more than 2% on influencer marketing. 70% of brands plan to keep their influencer marketing budget the same or increase it in 2024, with half planning to increase it by up to 10% 77% brands believe that their agencies are fairly equipped to drive influencer marketing campaigns. 71% of brands engage with influencers on a fixed fee model and 29% are exploring performance linked models to drive influencer accountability. 77% of influencers reported income growth in the past two years and 86% of influencers expected over 10% increase in their income over the next two year. Key insights: Market Size and Growth: Types of influencers in the Indian fashion & retail industry: Reach-based Influencers: Categorized by the size and breadth of their audience Macro (celebrities, top-tier fashion bloggers, major Instagram fashion influencers) Micro(mid-tier fashion bloggers, YouTube/Instagram content creators with growing channels) and Nano(small-scale local fashion influencers, emerging fashion voices) influencers Niche-based Influencers: Categorized based on their specific area of expertise or focus within the fashion industry Professional fashion insiders (designers, models, stylists) Specialized fashion segments (plus-size, luxury fashion, sustainable fashion) Cross-category (beauty influencers with fashion overlap) Yes, influencer marketing is impactful The latest report by EY and Collective Artists Network’s Big Bang Social, titled "The State Of Influencer Marketing in India," indicates significant growth in the industry. Influencer marketing in India is expected to surge by 25% in 2024, reaching INR 2,344 crore, and expand to INR 3,375 crore by 2026. +25 Size and Expected growth 50% of mobile usage dedicated to social media platforms 75% brands are expected to consider influencer marketing as part of their marketing strategy. 56% of the brands invested more than 2% on influencer marketing. 71% of brands use fixed fees for influencers, while 29% prefer performance-based models. 77% of influencers saw income growth, and 86% expect over a 10% increase in the two years. 70% of brands plan to keep