Noting the high receptiveness of Indians towards influencer marketing, 70 per cent of Indians believe that it has an impact on them, findings of a new report released on Wednesday showed. At least 15 per cent of Indians who were surveyed for the report said that they are neutral to these campaigns and no respondent said that these are "highly effective".
According to the "Impact Of Influencer Marketing In India," report released by Dentsu India and Boomlet Group, influencer marketing has the highest impact on GenZ and millennials, those born after 1981. But Gen X and boomers, those born between 1945 and 1981, are more receptive towards brand marketing.
21 per cent of those surveyed for the report said that they are "extremely likely" to purchase a product or service promoted by influencers. Another 31 per cent said that they are "very likely" and 26 per cent said that they are "somewhat likely" to do so.
Only 14 per cent seemed reluctant with 11 per cent saying that they are "unlikely" and three per cent saying that they are "extremely unlikely" to buy such products. Eight per cent said that they were "not sure" about their decision.
"As the influencer marketing space has emerged as a favoured component of brand promotion, consumers rely on influencers' perspectives to inform their purchasing decisions," said Danish Malik, co-founder and chief executive officer (CEO) of Boomlet Group.
In terms of social media platforms, the findings of the report highlighted that content on Instagram is most likely to drive purchases. It is followed by YouTube, Meesho, Sharechat and Facebook.
Moreover, 39 per cent of respondents said that they trust influencers with subject expertise. Another 25 per cent said that they trust celebrities and famous personalities. 21 per cent said they have faith in local influencers and 15 per cent believe in niche influencers.
"Influencer marketing has revolutionised our approach to connecting with potential customers and elevating brand awareness. With the exponential growth of social media platforms, influencers have cultivated loyal and engaged followers - making them indispensable assets in our marketing strategies," said Harsha Razdan, CEO of Dentsu South Asia.
The report also highlighted that FMCG is the top sector in leveraging influencer marketing in India, accounting for 18.5 per cent of the total industry involvement. It is followed by the banking, financial services, and insurance (BFSI) sector at 16.6 per cent and automobiles at 15.9 per cent.
"They possess a unique ability to foster trust and credibility among their loyal followers. By partnering with influencers, brands can tap into this trust, build credibility, and authentically promote their products or services. The impact is tangible, with higher engagement rates, increased conversions, and improved brand sentiment," Razdan added.