Social media marketing and the content market is a well-known opportunity that businesses using to promote their offerings on a large scale. The major drawback in India is that businesses are not utilising this opportunity to full potential. The problem is that small businessman still thinks twice to promote their business online. For instance, a bakery shop posted on Facebook and Instagram that they have different varieties of designed cakes and shared the location, and then what happened is that business got the attention of a lot of consumers and now has expanded from one retail shop to four retail shops.
Social media has garnered a lot of people to explore new opportunities available. A new marketing technique took birth from social media marketing i.e. influence marketing. Businesses have started to put more focus on influencers rather than targeted customers as they contact influencers on social media to promote their brand so that their sales could increase and in exchange influencers get paid. Word of mouth is also a part of influencer marketing.
Influence marketing example: Suppose a person named x has the huge number of followers on Instagram, Snapchat, and Facebook-like social media handles, then big brands contact him to use their products and create a video to upload on social media platforms so that his followers will also buy the products. Similarly, big brands endorsing celebrities services to market. This is a bit costlier than pop ads marketing approach but it is more efficient as well.
Steps to do Influencer Marketing:
These are some current trends in influencer marketing industry globally.
Bringing innovation and change in business activities is essential in the present scenario. The new technological upgrades, digital marketing techniques, innovation in business activities, etc are necessary to adopt. With time the business also needs to explore more new opportunities that are available in the economy so that the business could survive in this fierce competition. Influencer marketing is a much easier form of strategy that small businessman can also explore.