You may have seen a lot of case studies on your social media feeds flashing ABM as the new way that fixes everything wrong with B2B marketing in the last decade.
Far away from narratives, a mix of market shifts and marketing constraints have led to the ABM wave…
Account Based Marketing
The B2B Tech Marketing Landscape in 2024
ABM and SaaS go hand-in-hand and pretty much everything has been said about the SaaS funding winter already, just recapping the story here:
2020- Global SaaS Market secures $58.3 Billion in funds
2021- Investments rapidly shoot to $136 Billion (Woahh)
2022- The winter starts, SaaS raises $109 Billion globally
2023- Funding crunch, a drop of 33.3%, $72 Billion raised
On a similar trajectory,
2020- The Indian SaaS Market secures around $2.6 Billion in funds
2021- SaaS Investments climb to 170% with $4.5 Billion
2022- Registers all-time high bagging $6 Billion
2023- Investments take a steep drop of 68% to $1.3 Billion
Global SaaS vs Indian SaaS Revenue
Note, that SaaS revenues and valuations have still been predicted to grow steadily from 2025.
Why did I waste a minute to lay down the obvious?
So that we can clear this out right away:
There are exponentially more alternatives in any software category today
Marketers have less cash and time but need to ensure more bottom-line predictability
Complex Enterprise Digital Footprints
Enterprise Digital Footprints are becoming crazy (Yes, it’s more complicated than an eBook, Boss!)
While funds were skyrocketing during the pandemic, it is not alien to assume that people became increasingly active on different digital channels.
From Facebook and Twitter in 2019, most professionals acutely participate in professional communities, networks, and digital events and it is a core component of their decision-making.
A series of dozens of touchpoints, reviews, research, and interactions lead to an enterprise deal opening as opposed to being completely sales and brand-led like before.
Additionally, a big chunk of buyers are taking months longer to convert post the first sales touchpoint if we leave a minority share of ideal buyers aside.
Further on performance marketing, we have observed that scaling profitably is harder to achieve in 2024, thanks to increasing competition.
B2B Sales Cycle
Inferring from this:
Buying journeys are more complex, longer, and more spread out in 2024
Complex digital footprints have enabled buyers to go through a lot more touchpoints before they even open a sales conversation
This means the B2B Lead Generation practices that worked great in 2020 like:
Email Blasts and Nurtures
Content syndication
Blindly burning 6 to 7 figures on Google ads…do not cut it anymore!
We can also infer that since marketers need more predictability on bottom-line metrics…Content Marketing, SEO, and PR cannot be the sole contributors as they don’t provide the necessary proactivity on the “Who & How” of Enterprise B2B marketing.
Privacy Laws & Marketing Restrictions (Put on your Glasses for this one)
Among everything else, we are seeing:
Gmail and Yahoo imposed strict restrictions on mass emailing this February.
The consistent updates made by the iOS for user privacy.
Google’s announcement to phase off 3rd party cookies completely this year.
Making it hard for marketers to target, track, and test things at scale.
Hence, there is less room to perform hundreds of tests for months on end to crack a workable message without knowing the intent, fit, and priority of a prospective buyer.
All in all, the spray-and-pray approach is harder to execute in 2024 because of less data, increasing buying complexity, constrained budgets, and general unpredictability in the market.
Since we have covered the levers that have given rise to the ABM wave, let’s cover how you can get started with it under a scrappy budget.
You will need:
A Target Account List
An ABM Strategy
A Relevant Measurement Plan
A Workable Tech Stack
Getting Started with Target Account Lists
Any ABM program starts with a list. Here is how you create a list of high-intent and, ideal buyers.
Go to CRM, and look at the Closed Won deals in the last year.
Look at the Biggest converting deals last year.
Analyze the fastest converting deals in the last year.
Next, filter these deals/customers by,
Best Industries/Business Verticals
Deal Size
Tech Use Cases/Solution/Modules
Stakeholders Involved along with their role
One could also go out of their way to do qualitative interviews with best performing Account Executives in Sales to uncover:
If specific firmographics have been performing better or worse…why?
Finding common objections of the deals on Hold or Lost at different deal stages vs Closed Won Deals.
Are they observing any trends in the sales cycles of Closed Won vs Closed Lost Deals?
Are there any other recent trends to look out for?
When does a specific Stakeholder need to get involved in the buying process, and how to get them involved?
Now, after this exercise, you should know:
[ ] Tier-1 Accounts, priority for the next quarter
[ ] Tier-2 and Tier-3 Accounts, lower in priority…probably the next 2-4 quarters
Planning an ABM Strategy
There are a lot of complicated ABM methods out there, while I like to believe in simplicity.
Here is how I look at it:
Warmup
Accelerate
Close
Ideally, every account in your target list goes through these three steps before closing or expanding to your product/service.
Target List Steps
Ideally, an account would move from Tier-3 to Tier-1 as they engage with your marketing creatives.
Steps an account follows to move from Tier 3 to Tier 1
Let’s take a look at some examples of these campaigns.
Account Warmup Programs
Now for Step 1 of your marketing programs, we need to activate/reactivate accounts by increasing brand awareness and triggering intent to buy among champion stakeholders.
Personalized Value Propositions
Event and webinar invitations
Community Meetups
Resources to promote downloads
Account Warmup Programs
Pipeline Acceleration Programs
Let’s say you have some accounts warmed up. Now, let’s make sure we enhance buying intent among champion buyers, bring in other influencers-budget holders of the buying committee and accelerate deal velocity.
Personalized Social Proof for target accounts.
Objection handling campaigns.
Multi-threading campaigns to involve influencers early in the buying journey.
Competitor Comparisons and Positioning.
Campaigns to highlight ease of onboarding.
Pipeline Acceleration Programs
Relationship Building Programs
Marketing Programs to build further trust and relevance among decision-makers and key influencers.
This usually happens by inviting key stakeholders to participate in marketing activities like:
Podcast-Webinar Guest Invitations
LinkedIn Guest Invitations
Dedicated Product Walkthroughs and Social Proof
Relationship Building Programs
Creating a Relevant Measurement Plan
Creating an account-based marketing measurement plan enables you to manage and communicate short and long-term expectations.
North Star Metric- The core indicator of your ABM success, this could be…Closed Won Accounts, Qualified Pipeline Coverage, Average Deal Value.
L1 Metrics- Metrics that lead your progress towards the north star. These could be deal velocity, account penetration, and activation.
L2 Metrics- Metrics that you might have to start measuring week-by-week. These could be form submissions, event participants, or even target account impressions.
Account-Based Marketing Measurement Plan
A Workable Tech Stack
There exists a $100K ABM Tech Stack, we’ll not go into that…
Let’s find a scrappy tech stack from a first principal basis.
To execute account-based marketing successfully, you need tech for:
Account Research (To qualify accounts)
Data Enrichment (To enrich accounts with excessive data on an account and prospect level)
Data and Operations (To integrate multiple marketing channels seamlessly)
I have curated a list of tech that I love for all of these 4 purposes.
Tech List for Account Research, Data Enrichment, Personalization, Data and Operations
Where Can Things Get Messy?
We have talked a lot about being successful with ABM, let’s talk about what to look out for as Red Flags🚩
a) An Account Wishlist is not enough
The most common failure with ABM is that people stop targeting.
Let me explain, let’s say:
You did research on CRM to prepare target account lists, or,
You synced up with sales to get a ‘Wishlist of enterprise accounts’, and
You start pushing a bunch of campaigns to activate those accounts.
The distinction between targeted marketing and account-based marketing should be clear…they are not the same.
While preparing an account list does allow you to be more proactive, it does not guarantee better results.
An ABM team needs to ensure that target accounts are segmented into both Tiers & Segments to ensure personalized account-based experiences and relevant messaging.
The team also needs to ensure that only accounts with great buying intent and fit get included in ABM programs.
Buying Intent
b) Frequency in ABM is Critical
Marketing frequency is an essential element to define whether you have a solid ABM engine or not.
Frequency tells us if we are knocking on the door enough, it also gives benchmarks on the ideal time and budget for prospects to take a given action in the buying journey.
Most marketing teams have no idea of their frequency for a prospect over multiple channels, and how it impacts deal conversions.
Being aware of the winning ABM frequency is a superpower for any team!
ABM Frequency
c) Stress test ABM by Exploring New Marketing Channels
An ABM team should always be searching for personalized ways to reach potential buyers,
Limiting your ABM strategy to typical marketing channels like digital paid ads and emails could result in missed opportunities.
Laying down some phy-digital channels you could explore for ABM here:
Paid Search (Google, Bing)
Paid Social (LinkedIn, Meta)
Emails
Social Selling(Only for engaged accounts)
Gifting (Digital+Physical)
Direct Mail
Events and Roundups (Virtual+Physical)
Sponsorships and Promotional Partnerships(Podcasts, Newsletters, Communities)
PR Articles(Super targeted)
Programmatic and Display Ads
ABM Stress Test
Final Words
BM can be a lot of things, but it’s not a hoax and it’s not a bedtime fairy tale to tell your boss. It doesn’t need to cost $100K and could be executed under a scrappy budget if you know how to stitch the pieces together.
Productivity suffers in a cluttered, unorganized work environment. When people can’t find what they’re looking for, they waste time sifting through many papers and miscellaneous items across their desks. The disorganized working environment might also stress them out and make concentrating difficult. Fortunately, investing in some office organization solutions can help you recover control and create a clean, efficient workspace that meets your firm’s objectives. A messy office can also bring physical health risks, such as tripping hazards, poor ergonomics, and increased allergy and dust exposure.
Organizational products are products and tools that assist people in managing and decluttering their spaces, whether at home, work, or elsewhere. These solutions are designed to streamline procedures, increase efficiency, and maintain order. Individuals who use these solutions can increase their productivity and minimize stress by making it easier to find critical items and manage their time.
A stackable tray system often comprises many flat, open-topped trays that can be placed vertically on your desk. The trays take up less desktop surface area when stacked vertically than when spreading papers. This allows you to make better use of your workspace. Users can customize the number of trays and designated categories to meet their specific filing requirements. The open tray design lets you immediately see the contents and track what needs your attention next. Many tray sets have a carry handle, making transporting the entire stack between the office and the home easier.
Filing Cabinet
Filing Cabinet – Tool for Productive Workspace
A filing cabinet is essential for office furniture because it provides safe and organized storage for critical documents and records. It is intended to help users maintain all their paperwork in one location, making it easier to access and manage. Filing cabinets are designed to survive, protecting your important data from unauthorized access and damage. Vertical file cabinets are effective space savers, often using unused floor space while keeping the desktop area clutter-free.
Label Maker
Label Maker – Tool for Productive Workspace
A label maker is a handy device to create customized labels for organizing various items and spaces. The labels produced by a label maker can vary in size, font style, and colour, allowing for flexibility in organizing and personalizing items such as files, folders, containers, shelves, cables, and more. Advanced models also include options for printing barcodes, symbols, and graphics, allowing for even greater customization options. Many label makers are portable and battery-operated, making them suitable for use on the go or in different locations around the office.
Drawer Organizers
Drawer Organiser – Tool for Productive Workspace
Drawer organizers are handy organizational tools designed to maximize the usable space inside desk or cabinet drawers and keep their contents neatly arranged. They typically consist of separate compartments, dividers, or trays that fit securely inside a drawer. These components allow you to logically group and store items in a categorized manner. These have adjustable dividers that create customizable compartments sized for your specific needs. The organizers also help present streamlined, clutter-free drawers that can make any workspace more productive.
Cable or wire clips are small plastic or metal clips designed to hold, organize, and route cables and cords in an office or workspace setting. The clips can strategically route cables along the edges of desks, walls, or baseboards to get them out of the way and reduce tripping hazards. By holding cables in place, the clips prevent unnecessary bending, pinching, or fraying that can occur with loose wires. They come in various shapes and sizes, typically plastic or rubber, with a slot or loop designed to hold one or more cables securely.
Wall-Mounted Shelves
Wall-Mounted Shelves – Tool for Productive Workspace
Wall-mounted shelves are practical storage solutions that attach directly to walls, providing additional space for displaying or organizing items without taking up floor space. These shelves come in various styles, sizes, and materials to suit different needs and aesthetics. Modular shelving systems allow you to custom configure the arrangement by adding shelves and components based on your layout and storage needs. Wall-mounted shelves provide valuable storage and decluttering opportunities in a workspace by utilizing vertical wall space. Essential supplies and frequently used items can be kept within arm’s reach yet out of the way.
Sliding Under-Desk Tray
Sliding Under-Desk Tray – Tool for Productive Workspace
A sliding under-desk keyboard tray is a practical accessory designed to optimize desk space and promote ergonomic comfort in the workplace. This tray attaches underneath a desk surface and provides a dedicated platform for the keyboard and mouse. They allow you to adjust the height, tilt, and negative tilt to promote a neutral wrist/arm position that reduces repetitive strain injuries and betters your posture. The sliding under-desk keyboard tray is also incredibly versatile and easy to use. When not in use, you can slide the tray back underneath your desk, clearing your workspace and allowing you to work on other tasks. This feature benefits those with limited desk space, allowing them to maximize the available space and keep their workspace organized and clutter-free.
What are the benefits of using office organization solutions?
Increased Productivity: By keeping your workspace clutter-free and items readily accessible, you’ll spend less time searching and more time getting things done.
Reduced Stress: A disorganized environment can be overwhelming and lead to stress. The organization promotes a sense of calm and control.
What are some essential office organization solutions?
Stackable desk organizers provide tiered trays for categorizing documents and maximizing desk space.
Filing cabinets are essential for storing important documents securely andefficiently accessible.
Label makers create customized labels to identify files, folders, and shelves more efficiently.
How can I maintain an organized workspace over time?
Develop a regular decluttering routine to prevent clutter from accumulating.
File documents promptly and consistently.
Utilize labels effectively to ensure everything has a designated spot.
Train yourself to put things back in their designated places after use.
The Indian sports tech market is expected to grow from USD 1.2 billion in 2022 to USD 3.5 billion in 2027. In this industry, a company making a great name for itself is Push Sports.
Push Sports is one of the fastest-growing sports-tech companies in India. The company is known for helping children learn sports better and making safe places for them to play.
In this article, let’s learn more about Push Sports, its founders, journey, business and revenue model, funding, and more.
Push Sports is one of the fastest growing sports-tech companies in India, and in a short span has managed to transform sports learning for over 6000 children across 20+ locationsand transformed over 2 lakh square feet area into safe play arenas across 65+ projects. The company also has over 3000 active pay-to-play customers across its locations. A full-stack, sports solutions company, Push Sports is on a mission to empower individuals and educational institutions, world-class sports education programs with a vision to make India – a sporting superpower.
Established in 2016, Push Sports started as a cricket academy and by 2022 transformed into an end-to-end multi-sports management solutions brand. The company is driven by a dynamic team of over 100 passionate sports lovers and is backed by leading investors from across the world – including Beyond Seed, Ah!Ventures, PokerBaazi and most recently, Piyush Bansal, Founder, Lenskart and Vineeta Singh, Co-Founder, Sugar Cosmetics in Shark Tank India Season 3.
Push Sports – Industry
Grassroots sports is USD 10 Bn market in India and Push Sports is broadening it by creating the necessary distribution through their network of sports arenas. They feel it’s not a winner-take-all market and they want to develop digital tools and processes that regional players can use to improve the level of service delivery, especially in the sports education space. They see that this industry will develop into a massive employment generator in the next 10 years as the entire ecosystem is getting catalysed by Govt initiatives, private investment and changing consumer preferences.
Push Sports – Founders and Team
Puru Singh, Nitin Pahuja, and Mukul Grover – Co-Founders of Push Sports
Puru Singh, Co-Founder is a former state cricketer from New Delhi who quit his job in Air India to start Push Cricket in 2016-17. Nitin Pahuja, Co-founder of Push Sports, grew up in a cricket-loving family was working in a top bank when he met Puru during a cricket match and recognizing the potential impact of Push Sports in filling the gaps in sports education, Nitin became an investor in the venture.
Over time, as they witnessed the increasing demand for Push Sports services, Nitin roped in Mukul Grover (Co-Brother in law) as the third co-founder and also transitioned from his corporate role to join Push Sports full-time in 2020. Since then, three of them are driving the success story of Push Sports where Puru leads the core sports education business, Mukul drives the infrastructure and franchise business and Nitin leads the finance and investor relations function. They have built a team of 80+ coaches and sports professionals who are passionate about transforming grassroots sports and dedicated towards Push Sports’ vision of making India, a sports superpower.
Push Sports – Startup Story
The teams’ deep-rooted love for sports sparked a profound passion of building a business around it. Reflecting on their personal experiences, they identified a significant gap in the guidance and opportunities accessible to young athletes in India. This realization served as the impetus for establishing Push Sports. Driven by this aspiration, the team embarked on a mission to bridge the gap in sports education at the grassroots level. The business started as Push Cricket in 2016 with a cricket academy and then transformed into a complete sports solution company by 2022.
Push Sports – Vision and Mission
Push Sports’ mission is to work with educational institutions and individuals to catalyse their sporting journey and to build sports programs that can help catalyse India’s growth into a sports superpower.
Push Sports – Name and Logo
Push Sports Logo
“India’s New Playground” is an assertive expression of confidence and zeal of the new India that is ready to compete with the best. Push Sports has a vision to make India a sports super-power and that journey starts from the playgrounds at the grassroots level. But unlike playgrounds of the earlier days, Push Sports Arenas are world-class, safe and bring together a potent ecosystem of top-notch sports training, competitive growth and recreational interventions. Push Sports arenas are the cradle for talent and altars for bringing about fitness revolution with sports. That’s why they are Push Sports. India’s new playground.
Push Sports – Product/Services
Push Sports, offers a comprehensive full-stack sports solution aimed at revolutionising sports education in Schools and recreational sports for young adults and Corporates. Their product/service includes tying up with schools to develop and maintain professional-level Infrastructure, training, guidance, and opportunities for students. Push Sports develops sports infrastructure, runs sports programs, and designs sports curriculum tailored to each school’s needs. With a team of over 80 coaches covering 10+ sports, they offer structured programs that cater to diverse interests and skill levels.
Push Sports’ innovative approach addresses several key problems in sports education, including the lack of professional guidance and infrastructure in schools, limited opportunities for students to explore various sports, and the need for a structured and comprehensive sports curriculum. Their unique selling proposition lies in their ability to provide end-to-end solutions, from infrastructure development to program operation and monetization.
One of Push Sports’ notable innovations is its use of technology to enhance the sports education experience. They employ advanced assessment tools to track students’ progress and tailor training programs accordingly. Additionally, Push Sports utilises technology to support its operations, including managing infrastructure bookings, coordinating coaching schedules, and facilitating online registration for programs. By leveraging technology, Push Sports ensures efficiency, effectiveness, and scalability in delivering its services to over 6000 students across various schools.
The business model of Push Sports consists of three primary units. Firstly, they undertake Engineering, Procurement, and Construction (EPC) projects for schools, where Push Sports designs, procures and constructs sports infrastructure.
Secondly, Push Sports operates a sports education unit within schools, collaborating with Physical Education (PT) teachers to design tailored sports programs. Additionally, they offer after-school sports programs, utilising the time after school hours (3 to 7 PM) for academic operations and encouraging students to participate in sports activities. Hyper-local children are also welcome to join the after-school academy.
Lastly, Push Sports generates revenue through pay-to-play bookings for corporates on weekends and weekdays after the after-school academy hours.
Pricing for EPC projects varies based on project scope and duration of lease agreements. Revenue from sports education programs may involve a mix of fees from schools and after-school program participants. Pay-to-play bookings for corporates typically follow an hourly pricing model, with profit margins dependent on operational costs and facility utilisation rates. Commission structures may vary based on partnerships with schools and corporate clients.
Push Sports – Launching Company Strategies
Working with academic institutions helped them significantly as they got access to a captive audience to pitch their services to. They have undertaken minimal marketing till now and most of their success has been due to word of mouth which has only been possible because of their team of 80+ coaches leading with execution with precision.
Push Sports – Challenges Faced
They have been able to convert their challenges into opportunities. Example:
They did a complete rethink during Covid and came back stronger by covering over 10+ sports and not just cricket opening a much larger market for themselves.
They have been able to focus on both growing their arenas and maximizing capacity utilization across operational arenas by focusing on professional and recreational sports simultaneously
They have built an extremely strong pool of coaches who are trained and ensure stickiness for the students
They are not just a strong coaching academy, they are a full-stack solution providing infrastructure, training and competitive exposure.
Push Sports Infrastructure
Push Sports – Funding
Date
Stage
Amount
Name
Feb 19, 2024
Seed Round
80 Lacs
Piyush Bansal & Vineeta Singh
Push Sports – Competitors
Some of their Top Competitors are:
Edu Soorts
Fitso by Cult.fit
Push Sports – Future Plans
They want to expand to 5 new Tier 1 and Tier 2 cities in the next five years and expand their area count to 100+ arenas from the current 20. This will serve about 1 lac sports enthusiasts each month.
This article has been contributed by MP Deepu, Co-Founder & COO, SeniorWorld.
In today’s rapidly aging population, the need for innovative elderly care solutions has never been more pressing. As we strive to meet the diverse needs of seniors, it’s crucial to approach the development of these services with empathy, compassion, and a deep understanding of the unique challenges they face. At SeniorWorld, we hold a fundamental philosophy: to envision seniors as our own parents, guiding us to create solutions that prioritize their social, wellness, and safety needs.
To embark on the journey of launching a successful elderly care business, it’s imperative to first understand the seniors we aim to serve. Aging brings about a myriad of physical, emotional, and social changes, each presenting its own set of challenges. By adopting an inclusive design thinking approach, we can ensure that our solutions cater to the diverse needs of seniors, regardless of their abilities or limitations.
Inclusive Design Thinking: A Pathway to Innovation
Inclusive design thinking revolves around the principle of creating products and services that are accessible and usable by people of all ages and abilities. When applied to elderly care, this approach allows us to develop solutions that empower seniors to maintain their independence, dignity, and quality of life. One of the cornerstones of inclusive design thinking is empathy – the ability to step into the shoes of seniors and truly understand their perspectives, needs, and desires. By engaging directly with seniors and actively listening to their feedback, we can gain invaluable insights that inform the development of more effective and meaningful solutions.
Compassion and Thoughtfulness: The Heart of Elderly Care
At the core of our approach to launching an elderly care business lies compassion and thoughtfulness. By viewing seniors as our own parents, we are reminded to treat them with the respect, care, and dignity they deserve. This means going above and beyond to anticipate their needs, address their concerns, and provide them with the support they require to thrive in their later years.
Building Trust and Reliability: The Foundation of Success
In the realm of elderly care, trust and reliability are paramount. Seniors and their families must feel confident that the services they receive are of the highest quality and delivered with integrity and compassion. By prioritizing transparency, communication, and accountability, we can build strong, long-lasting relationships with our clients and earn their trust over time.
Creating Holistic Solutions: Integrating Social, Wellness, and Safety Components
To truly meet the needs of seniors, it’s essential to take a holistic approach to care, addressing not only their physical health but also their social, emotional, and cognitive well-being. By offering a comprehensive range of services that encompass social engagement, wellness programs, and safety measures, we can support seniors in leading fulfilling and independent lives.
Global Elderly Care Services Market
Embracing Innovation: Paving the Way for the Future of Elderly Care
As we navigate the ever-evolving landscape of elderly care, innovation must remain at the forefront of our efforts. By embracing new technologies, methodologies, and approaches, we can continuously improve and refine our services to better meet the evolving needs of seniors. Whether it’s leveraging telehealth solutions to provide remote medical consultations or implementing smart home technologies to enhance safety and security, innovation holds the key to unlocking new possibilities in elderly care.
In conclusion, launching a successful elderly care business requires a multifaceted approach that prioritizes empathy, compassion, and innovation. By understanding seniors as our own parents, adopting inclusive design thinking principles, and embracing a holistic approach to care, we can develop solutions that empower seniors to live with dignity, independence, and fulfillment in their later years. With a commitment to excellence and a dedication to serving seniors with integrity and compassion, we can pave the way for a brighter future in elderly care.
Crafting presentations that captivate and inspire is an art form that combines strategic planning, compelling content, and dynamic delivery. In today’s fast-paced world, the ability to deliver powerful presentations is a skill sought after by professionals across all industries. Whether pitching a new idea, sharing insights, or rallying a team, mastering the art of presentation can elevate your message and leave a lasting impact.
The advent of artificial intelligence has revolutionised the way we approach presentation development. AI-powered tools can help transform mundane slideshows into compelling visual narratives that engage and resonate with your audience. From design assistance to data analysis and speech coaching, these tools offer a comprehensive suite of features to enhance every aspect of presentation development. These tools can streamline content creation by scouring the internet for relevant information, providing suggestions for graphics and visual aids, and even assisting with speechwriting. They can also help with data analysis, automatically generating charts and graphs that effectively convey complex information visually appealingly.
In this article, we’ll delve into some of the most powerful AI tools available, exploring how they empower presenters to deliver engaging, memorable presentations with confidence and flair.
What Is AI? | Artificial Intelligence | What is Artificial Intelligence?
PopAi
AI TOOL
PopAi
Launched
2023
Free Trial
available
PopAi – AI Presentation Tool
PopAi is an exceptional platform that harnesses Artificial Intelligence (AI) technology to revolutionise how people interact with digital tools. Its innovative and advanced features transform knowledge acquisition, content generation, and creative processes.
With Boosted Answers, Chat with Document, and AI Creation templates, PopAi empowers users to increase their productivity and efficiency, regardless of their field or profession. Boosted Answers provides instant and accurate responses to queries. At the same time, Chat with Document allows users to search for specific content and insights within a document. The AI Creation templates offer tailored solutions to streamline workflows and unlock users’ full potential, whether they are students, professionals, or creatives.
PopAi’s user-friendly interface ensures that users stay up-to-date with the latest information, quickly generate engaging content and foster innovation. Users can customise their experience based on their preferences and needs, making PopAi a highly personalised platform. With this, users can achieve their goals and make informed decisions with ease and confidence.
Beautiful.ai is a versatile online presentation software that simplifies the presentation creation process for individuals and businesses. It focuses on efficiency and visual appeal, offering a wide range of features to enhance productivity and elevate the quality of presentations.
Users can access hundreds of customisable slides and presentation templates, which saves valuable time and helps jumpstart their ideas. The platform’s intuitive controls and layout variations enable users to create new designs in seconds, ensuring that every presentation is unique and impactful.
From data visualisation tools to automatic animations and customisable themes, Beautiful.ai provides everything needed to bring ideas to life, maintain brand consistency, and impress the audience. Users can seamlessly collaborate with team members, control slides and branding, and track presentation metrics with viewer analytics. Advanced sharing options and compatibility with various devices empower users to present their best work anytime, anywhere.
SlideSpeak offers a robust suite of AI tools designed to enhance productivity and streamline the creation of presentations and documents. Leveraging advanced AI technology, users can precisely summarise PowerPoint, Word, and PDF documents and generate presentations effortlessly based on their content. With the integration of ChatGPT, users can interact with their documents seamlessly, asking questions, requesting summaries, and gaining valuable insights. The platform supports many document types, allowing users to extract essential information efficiently.
SlideSpeak’s user-friendly interface makes it easy for individuals and businesses to harness the power of AI to master presentations and documents, ultimately saving time and improving workflow efficiency. SlideSpeak is free, providing users access to cutting-edge AI capabilities without financial commitment.
Pricing
Plan
Pricing
Free Plan
$0
Premium
$19/month
Premium Plus
$24/month
Artificial intelligence (AI) market size worldwide in 2021 with a forecast until 2029
Tome
AI TOOL
Tome
Launched
2020
Free Trial
available
Tome – AI Presentation Tool
Tome is an innovative AI-powered platform that empowers users to create polished presentations and documents quickly and effortlessly. With its intuitive interface and advanced AI features, Tome enables users to add structure and polish to their work, transforming text into compelling narratives with matching images. Whether it’s generating AI presentations, one-pagers, or immersive experiences, users can communicate their ideas effectively with just a few keystrokes.
Additionally, Tome offers clever themes, responsive layouts, and seamless integrations with interactive embeds, allowing users to design without constraints and draw viewers in with engaging content. The platform’s mobile-responsive presentation layouts ensure a seamless viewing experience across devices. At the same time, advanced analytics provide insights into audience engagement. From founders and startups to marketers and product teams, Tome caters to diverse users with its versatile capabilities and best-in-class templates. Trusted by industry leaders and praised for its fluidity and intuitiveness, Tome is revolutionising how ideas are shared and communicated in the digital age.
SlidesAI offers a user-friendly solution for creating professional and engaging presentations quickly and effortlessly. With its AI-powered platform, users can say goodbye to tedious manual slide creation and generate polished presentations from any text in just a few clicks. The platform requires no design skills and can be set up in seconds, making it accessible to everyone. Users can choose from pre-designed colour and font presets or create custom looks to personalise their presentations.
SlidesAI supports over 100 languages, ensuring accessibility for a global user base. Additionally, the platform offers features such as searching citations, customising icons, accessing a premium stock image library, and, soon, exporting slides as videos. With a growing user base of over 10 million downloads and positive testimonials from satisfied customers, SlidesAI is a valuable tool for anyone looking to save time and streamline their presentation creation process. Plus, with a simple and transparent pricing structure, SlidesAI offers affordability and accessibility to users of all levels.
Gamma presents a revolutionary approach to presenting ideas powered by advanced AI technology. With its intuitive platform, users can effortlessly create beautiful presentations, documents, and websites without the need for design or coding skills. Users can access a versatile tool that generates fully functional presentations, documents, and webpages in seconds by signing up for free. This allows users to focus on refining and customising their content rather than starting from scratch.
Gamma’s AI generator ensures that presentations and documents are polished and on-brand with just one click, eliminating the need for tedious manual formatting. Users can easily restyle entire decks and work faster with flexible templates. Additionally, Gamma provides context with brevity, offering features such as a present mode for live presentations and nested cards for drilling into details.
India’s pharmaceutical industry has come a long way since its early days of producing generic drugs for the world. Today, the country is home to some of the largest and most innovative pharmaceutical companies in the world.
According to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030.
Indian drug & pharmaceutical exports increased from US$ 16.8 billion to US$ 25.4 billion from 2016-17 to 2022-23. Indian drug & pharmaceutical exports stood at US$ 2,196.32 million in September 2022.
In this article, we will explore the Top 20 Pharmaceutical Companies in India and their contributions to the industry.
Top Pharmaceutical Companies of India – Sun Pharmaceutical Industries Ltd.
It is a leading multinational pharmaceutical company in India. Sun Pharma was established in the year 1983. It was founded by Mr. Dilip Shanghvi,who is also the MD of Sun Pharmaceuticals. Sun Pharmaceutical Industries’ revenue wasINR44,520 cr in 2023. The company started offering products to treat psychiatric ailments. Now, the company also offers formulations in various therapeutic, gastroenterology, and diabetology.
Sun Pharmaceutical Industries is one of the largest pharmaceutical company in India based on overall revenue. It is the fourth largest global specialty generic pharmaceutical company in the world. It also sells Carbamazepine, Etodolac, and Clorazepate as well as anti-cancer, steroids, peptides, sex hormones, and controlled substances. Its subsidiaries include Ranbaxy Laboratories and Sun Petrochemical Pvt. Ltd, Sun Ophthalmic Inc, Alkaloida Chemical Company Zrt, Chattem Chemicals Inc. This pharmacy business sells affordable medicines in over 150 countries across 6 continents.
Top Pharmaceutical Companies of India – Divi’s Laboratories
Divi’s Laboratories Limited is a noteworthy player among the top 20 pharma companies in India. This Indian multinational pharmaceutical company, headquartered in Hyderabad, has made a significant impact on the global pharmaceutical industry. Divi’s Laboratories was founded in 1990. Divi’s Laboratories Ltd. manufactures active pharmaceutical ingredients (APIs) and intermediates. This pharmaceutical company in India is engaged in the manufacture of leading generic compounds, Nutraceutical ingredients, custom synthesis of APIs, and intermediates for global innovator companies. Divi’s Laboratories is one of the largest API companies in the world, with a revenue of INR 8,112.17 cr in 2023, and exporting to more than 95 countries.
3. Dr. Reddy’s Laboratories
Company Name
Dr. Reddy’s Laboratories
Founded
1984
Owner
Dr. Kallam Anji Reddy
Headquarters
Hyderabad
Website
www.drreddys.com
Top Pharmaceutical Companies of India – Dr. Reddy’s
Dr. Reddy’s Laboratories was founded by Anji Reddy in 1984. It is an Indian multinational pharmaceutical company. It is known for manufacturing a wide range of pharmaceuticals in India and overseas. They have over 190 medications, 60 active pharmaceutical ingredients for drug manufacturers, diagnostics kits, critical care, and biotechnology products. It had a revenue of INR 25,725.20 cr in 2023. The notable products of Dr. Reddy’s include Canagliflozin. Ramipril, Ibuprofen, Naproxen, Atorvastatin, Nizatidine, Naproxen Sodium, etc.
4. Cipla Limited
Company Name
Cipla Limited
Founded
1935
Owner
Yusuf Hamied
Headquarters
Mumbai
Website
www.cipla.com
Top Pharmaceutical Companies of India – Cipla
Cipla is an Indian multinational pharmaceutical and biotechnology company, that has its headquarters in Mumbai and was established in 1935 by Khwaja Abdul Hamied. Yusuf Hamied is the Non-Executive Chairman of Cipla. This pharmaceutical company in India focuses on developing medicines to treat respiratory, and cardiovascular diseases, arthritis, diabetes, weight control, depression, and many more.
Cipla had a revenue of INR 23,228.57 cr in 2023 and has more than 22,036 employees. The subsidiaries of Cipla are Invagen Pharmaceuticals. They are the largest manufacturer of antiretroviral drugs.
Emcure Pharmaceuticals is a Pune-based company, which was founded in 1983 by Satish Ramanlal Mehta. It was to address the vision of fulfilling the vast healthcare needs that Emcure Pharmaceuticals was born. Emcure Pharmaceuticals started as a single manufacturing facility in Pune and has witnessed healthy growth throughout the years, now boasting a range of world-class manufacturing facilities spread across API, formulations, and biotechnology. Emcure is now known as a vertically integrated pharmaceutical company with commendable infrastructure, skills, and resources that are not only comparable to the best pharma companies in Pune, India but those that are considered as the best in the world. Manufacturing of APIs, Formulations, and Biotechnology can all be summed up as strengths of Emcure.
Namita Thapar, who is distinguished as one of the judges of Shark Tank India, is the Executive Director of Emcure’s India business.
Founded in the year 1978, Biocon is the most popular pharmaceutical company in India. Biocon Limited manufactures generic active pharmaceuticals. The company is based out of Bengaluru. Products from Biocon Limited are sold around the world on a very huge scale. More than 9000 people are employed at Biocon and the company holds total assets valued at over $824 million.
7. Torrent Pharma
Company Name
Torrent Pharma
Founded
1959
Owner
Sudhir Mehta
Headquarters
Ahmedabad
Website
www.torrentpharma.com
Top Pharmaceutical Companies of India – Torrent Pharmaceuticals
Torrent Pharmaceuticals is a leading Indian multinational pharmaceutical company that specializes in the production of generic drugs and active pharmaceutical ingredients. It is based in Ahmedabad and has a revenue of INR 9,665.29 cr as of 2023. Torrent has manufacturing plants at Dahej, Pithampur, Gujarat, and Madhya Pradesh. Torrent Pharma makes medicinal drugs for the Central Nervous System, gastrointestinal pain management, gastrointestinal diabetology, and anti-infective segments. It is committed to providing high-quality and affordable healthcare solutions to patients across the world.
Top Pharmaceutical Companies of India – Lupin Limited
Lupin is a leading Indian multinational pharmaceutical company based in Mumbai that specializes in the development, production, and marketing of generic and branded drugs. Lupin was established in 1968 by Desh Bandhu Gupta. It is the 12th-largest company by market capitalization and is thus one of the most well-known pharmaceutical manufacturers in India. Lupin had a revenue of INR 16,715.02 cr in 2023. The company is involved in the manufacturing and selling of medicines ranging from pediatrics, cardiovascular, anti-infectives, diabetology, asthma, and anti-tuberculosis.
Lupin Limited has its major markets in the USA (Baltimore, Maryland), India Region Formulations, Europe, Japan, South Africa, Australia, Philippines, Mexico, Latin America, etc. Some of the subsidiaries of Lupin Ltd. are Lupin Pharmaceutical Inc., Kyowa Pharmaceutical Industry Co. Ltd., and many more.
Top Pharmaceutical Companies of India – Zydus Lifesciences
Zydus Lifesciences Limited (formerly Cadila Healthcare) was founded in 1952 by Ramabhai Patel. It is also known as Zydus Cadila. It is an Indian pharmaceutical company headquartered in Ahmedabad. It is one of the largest pharma companies in India and had a revenue of INR 17,424 cr in 2023.
Zydus Lifesciences Limited is also known for excellent diagnostics, along with being a manufacturer of herbal, skincare, and other OTC products. The company also produces generics for hepatitis C treatment, based on the voluntary license agreement with Gilead. Cadila makes API at three sites in India which are Ankleshwar plant, the Vadodara plant, and Patalganga.
P. V. Ramaprasad Reddy and Mr. K. Nityananda Reddy
Headquarters
Hyderabad
Website
www.aurobindo.com
Top Pharmaceutical Companies of India – Aurobindo Pharma Limited
Aurobindo Pharma Limited was established in 1986. It sells over 300 products in over 125 countries and its key segment is APIS, as 35% of the total revenue is generated from API. It is the second-biggest pharmaceutical company in India and had a revenue of INR 25,145.97 cr in 2023. Aurobindo Pharma Limited is engaged in the manufacturing and selling of medicines in the fields of neurosciences, cardiovascular, Antiretrovirals, anti-diabetics, gastroenterology, cephalosporins, etc.
11. Intas Pharmaceuticals Limited
Company Name
Intas Pharmaceuticals Limited
Founded
1986
Owner
Hasmukh Chudgar
Headquarters
Ahmedabad
Website
www.intaspharma.com
Top Pharmaceutical Companies of India – Intas Pharmaceuticals
Intas Pharmaceuticals Limited, based in Ahmedabad was founded in 1984 and had a revenue of $2.2 Billion in 2022. It has 13 commercialized biosimilars including Docetaxel and Paclitaxel. This pharma company in India has its R&D department in the field of chronic disease of oncology (cancer), rheumatology, auto-immune, nephrology, ophthalmology, and plasma-derived product-based therapies.
This pharmaceutical company has its headquarters in Ahmedabad and is one of the leading biosimilar product manufacturers in Asia. Intas has 14 formulation manufacturing facilities, of which seven are located in India and the rest in the UK and Mexico. It is the seventh-largest company in India, and the company saw an increase in revenue by 29.84% in 2017.
12. Glenmark Pharma Limited
Company Name
Glenmark Pharma Limited
Founded
1977
Owner
Glenn Saldanha
Headquarters
Mumbai
Website
Glenmarkpharma.com
Top Pharmaceutical Companies of India – Glenmark Pharma Limited
Glenmark Pharma Limited is a pharma company headquartered in Mumbai, India that was founded in 1977 by Gracias Saldanha. This pharmaceutical company has drug discovery that plays an important role in the field of therapeutic areas of dermatology, respiratory, and oncology. It is the eighth largest pharma company and had a revenue of INR 13,306.90 cr in 2023. The company also focused on new biosimilar drugs and in the fields of cancer, dermatology, and respiratory diseases, by collaborating with major pharma companies.
Top Pharmaceutical Companies of India – Innovexia Life Sciences
Innovexia Life Sciences Pvt. Ltd. is one of the best pharmaceutical companies in India. It is involved in the manufacturing as well as the trading of various antacid medications, anti-allergic tablets, capsules, etc. It is also known as a top PCD Pharma Franchise company, that keeps investing and equipping itself with state-of-the-art facilities for high-quality medicines.
14. Biophar Lifesciences Pvt. Ltd.
Company Name
Biophar Lifesciences Pvt. Ltd.
Founded
2010
Owner
Gulshan Rawat
Headquarters
Chandigarh
Website
Biopharlifesciences.co.in
Top Pharmaceutical Companies of India – Biophar Lifesciences Pvt. Ltd.
Biophar is a prominent player among the top 20 pharma companies in India, based in Chandigarh it deals in the PCD Pharma Franchise Business and manufacturing. The quality and reasonably priced formulations make the company one of the most reliable companies in India. Biophar has been expanding its client base by reaching every corner of the nation and adding more distributors. It is the constant endeavor that the company takes, which helps its business spread to other parts and create new networks.
15. Mankind Pharma Limited
Company Name
Mankind Pharma Limited
Founded
1995
Owner
R. C. Juneja and Rajeev Juneja
Headquarters
New Delhi
Website
www.mankindpharma.com
Top Pharmaceutical Companies of India – Mankind Pharma Limited
Mankind Pharma Limited is a pharma company in India that has its headquarters in New Delhi. It was founded in 1995 and helps in the production and sale of a wide range of products, including Antibiotics, Antifungals, NSAIDs, Gastrointestinal, Anthelmintic, Cardiovascular, Dermal, Erectile Dysfunction, and several other categories. The company had a revenue of approximately INR 8,878 cr in 2023 and is one of the top Indian pharma company.
16. Piramal Enterprises Limited
Company Name
Piramal Enterprises Limited
Founded
1984
Owner
Ajay Piramal
Headquarters
Mumbai
Website
www.piramal.com
Top Pharmaceutical Companies of India – Piramal Enterprises Ltd.
Piramal Enterprises Limited is one of the popular companies for Pharmaceuticals in India. It was founded in 1984 and was acquired by Ajay Piramal in the early 1980s. The global business conglomerate deals with healthcare, life sciences, drug discovery, healthcare, etc. The company further deals with pharma, critical care, consumer products, phytomedicine, and imaging. Piramal Enterprises Limited is based on total revenue of INR 9,086.74 cr in 2023.
17. Laurus Labs Ltd.
Company Name
Laurus Labs Ltd.
Founded
2005
Owner
Dr. Satyanarayana Chava
Headquarters
Hyderabad
Website
www.lauruslabs.com
Top Pharmaceutical Companies of India – Laurus Labs Ltd.
Laurus Labs, a leading research and development-driven Indian pharma and biotech company, is a notable player in the top 20 pharma companies in India and had a revenue of INR 6,046.55 cr in 2023. Laurus Labs is headquartered in Hyderabad and has its manufacturing plants located at Visakhapatnam, Hyderabad, and Bangalore. The company mainly focuses on active pharma ingredients, finished dosage forms, synthesis, and biotechnology. Laurus Labs leads in generic active pharmaceutical ingredients (‘APIs’) certain high-growth therapeutic areas of antiretrovirals (‘ARVs’), Hepatitis C, and Oncology.
Laurus Labs is a 4000-employee organization all of whom are always looking out to expand the horizons of Chemistry to develop new cures and new methods to cure people along with making a considerable profit. The employees of Laurus Labs Ltd. include pharmaceutical and biotechnology industry veterans, research scientists, manufacturing and management professionals, and more.
18. Abbott India Ltd.
Company Name
Abbott India Ltd.
Founded
1944
Owner
Abbott Laboratories
Headquarters
Mumbai
Website
www.abbott.co.in
Top Pharmaceutical Companies of India – Abbott India Ltd.
Founded in 1944, Abbott is a subsidiary of Abbott Laboratories of USA, established back in 1910 and always dedicated to helping people live healthier lives. Abbott India is responsible for manufacturing a diverse range of nutritional products, diagnostic tools, branded generic pharmaceuticals, diabetes, vascular devices, and more.
Abbott’s products can be categorized into a wide range of therapeutic categories like women’s health, gastroenterology, cardiology, metabolic disorders, and primary care.
Headquartered in Mumbai, Abbott is one of the oldest pharmaceutical companies in India and among the largest MNC pharma companies.
19. Alkem Laboratories
Company Name
Alkem Laboratories
Founded
1973
Owner
Samprada Singh
Headquarters
Mumbai
Website
www.alkemlabs.com
Top Pharmaceutical Companies of India – Alkem Laboratories
Alkem or Alkem Laboratories Ltd. is one of the Indian multinational pharma companies from Mumbai that produces and sells pharmaceutical generics, formulations, and nutraceuticals in India and around the world. It had a revenue of INR 11,815.34 cr in 2023.
Alkem Laboratories has successfully set up 21 manufacturing plants, as of September 2021, out of which 19 plants are in India and 2 of Alkem’s plants are in the US. Alkem boasts of around 5 decades worth of popularity. Taxim from Alkem emerged as the first anti-infective drug to cross the 1,000 million mark of domestic sales in 2006.
20. Alembic Pharmaceuticals
Company Name
Alembic Pharmaceuticals
Founded
1907
Owner
Chirayu Amin
Headquarters
Vadodara
Website
Alembicpharmaceuticals.com
Top Pharmaceutical Companies of India – Alembic Pharmaceuticals
Alembic Pharmaceuticals was founded in 1907 in Vadodara, Gujarat. The company is involved in manufacturing pharmaceutical products, pharmaceutical substances, and intermediaries and has set up its manufacturing plants in Panelav and Karakhadi, Gujarat, and Sikkim.
The company initially started as Alembic Chemical Works in 1907, when the company began manufacturing tincture and alcohol in its unit at Vadodara. With its name in the Forbes’ 2016 list of ‘India’s Super 50 Companies 2016’, Alembic Pharmaceuticals is one of the most popular pharmaceutical brands in India.
Conclusion
India has a rapidly growing pharmaceutical industry and is becoming a major player in the global market. The top pharmaceutical companies in India, including Torrent Pharmaceuticals, Lupin, and Zydus Lifesciences Limited, have made significant contributions to the industry through their innovative products and commitment to high-quality healthcare solutions. These companies have a global presence and are expanding their reach to new markets, with a focus on affordable healthcare solutions for patients worldwide. With India’s growing expertise in the field of pharmaceuticals, the industry is set to witness significant growth in the years to come.
FAQs
What are the top 20 pharmaceuticals in India?
Here is the list of the top 20 pharmaceutical companies in India:
Sun Pharmaceutical Industries
Divi’s Laboratories
Dr. Reddy’s Laboratories
Cipla Limited
Emcure Pharmaceuticals
Biocon Limited
Torrent Pharma
Lupin Limited
Cadila Healthcare Limited
Aurobindo Pharma Limited
Intas Pharmaceuticals Limited
Glenmark Pharma Limited
Innovexia Life Sciences Pvt. Ltd.
Biophar Lifesciences Pvt. Ltd.
Mankind Pharma Limited
Piramal Enterprises Limited
Laurus Labs Ltd.
Abbott India Ltd.
Alkem Laboratories
Alembic Pharmaceuticals
Which is the No. 1 pharma company in India?
Based on revenue, Sun Pharmaceutical Industries Ltd. is the largest pharma company in India.
Who is the owner of Sun Pharma?
Dilip Shanghvi is the owner of Sun Pharmaceutical IndustriesLtd.
What are the pharma companies in Ahmedabad?
There are numerous pharma companies in Ahmedabad. Some of the major pharmaceutical companies are:
Torrent Pharmaceuticals
Zydus Cadila
Unison Pharmaceuticals Private Limited
Dishman Pharmaceuticals
Nabros Pharma Private Limited
Acron Pharmaceuticals
Nabros Pharma
What is the turnover of pharmaceutical companies in India?
The Indian pharmaceutical market (IPM) grew 6.8% to touch a turnover of Rs 1.93 trillion in the year 2023.
This article has been contributed by Sanil Basutkar, Co-Founder & Head of Product & Marketing, Bharatsure.
The Indian insurance sector has the potential to undergo a significant transformation, driven by the power of AI. For decades, the industry has relied on traditional methods that can be slow, cumbersome, and lack the sophistication to fully capture the nuances of individual risk profiles. AI, however, can revolutionize insurance in India, streamlining processes, enhancing accuracy, and ultimately, delivering a superior customer experience.
One of the most exciting applications of AI in insurance is its ability to generate personalized premium quotes. Traditionally, premiums have been based on broad categories and demographics. AI algorithms, however, can analyze vast amounts of data, including driving records, health history, or even social media activity (with consent), to create a more comprehensive understanding of an individual’s risk profile. This allows insurers to offer more accurate and competitive premiums, ensuring that policyholders pay a fair price for their coverage.
For instance, imagine a young driver in India with a clean driving record and a history of participating in safe driving courses. Through AI analysis, the insurer might recognize this individual’s lower risk profile and offer a lower premium compared to the traditional one-size-fits-all approach. This not only benefits the policyholder but also encourages responsible behaviour.
AI Expedites Claims Processing for Faster Settlements
Claims processing has long been a pain point for both insurers and policyholders in India. Manual verification of documents and lengthy investigations can lead to delays in settlements, causing frustration for customers. AI is changing this landscape. By automating repetitive tasks and leveraging technologies like image recognition and natural language processing (NLP), AI can significantly expedite the claims process.
Imagine a car insurance claim in India. An AI-powered system could analyze photos of the damage submitted by the policyholder, automatically extracting crucial details. NLP could then process the claim form, ensuring accuracy and completeness. This automation frees up human adjusters to focus on complex cases, leading to faster settlements and improved customer satisfaction.
AI-powered Tools for Enhanced Accuracy and Fraud Detection
Fraudulent claims can be a significant drain on insurance companies, ultimately impacting premiums for honest policyholders. AI presents powerful tools to combat this issue. Image recognition can identify inconsistencies in damage claims, while NLP can detect fraudulent patterns in claim narratives.
For example, AI could analyze satellite imagery of a flooded area to verify the extent of damage claimed by a homeowner in India. Similarly, NLP could identify inconsistencies in a medical insurance claim by comparing the patient’s reported symptoms to their medical history. These AI-powered tools help deter fraudulent activity and ensure that claims are settled fairly and efficiently.
AI use cases in Financial Service Industry Worldwide as of 2020
Challenges and Considerations: Data Privacy and Algorithmic Bias
Despite its immense potential, AI adoption in the Indian insurance sector comes with challenges. Data privacy is a paramount concern. As AI algorithms rely on vast amounts of personal data, ensuring its secure storage and responsible usage is critical. India’s robust data privacy regulations like the Personal Data Protection Bill (PDP Bill) provide a framework for addressing these concerns.
Another challenge is algorithmic bias. AI algorithms can perpetuate existing societal biases if trained on incomplete or skewed data sets. Mitigating this requires continuous monitoring and adjustments to ensure AI models are fair and unbiased in their assessments.
The Future of Insurance in India: Embracing AI for Innovation
The future of insurance in India lies in embracing AI technologies. By leveraging its capabilities, insurers can drive innovation, enhance risk management, and deliver superior customer experiences.
Imagine a future where AI-powered chatbots provide personalized insurance advice in local languages like Hindi or Tamil. AI could also play a role in proactive risk prevention, offering safety recommendations to policyholders based on real-time data analysis.
The Indian insurance sector has an opportunity to become a global leader in AI adoption. By addressing data privacy concerns, mitigating algorithmic bias, and fostering a culture of innovation, insurers can unlock the full potential of AI and redefine the insurance experience for millions of Indian customers.
ChatGPT was launched by OpenAI in 2022 and registered 100 million users in mid-February of 2023. Here’s a look at how it progressed over the past few months.
ChatGPT was released to the public on November 30, 2022. It quickly gained popularity, reaching 1 million users in December, 1.5 million users on December 31st, 15.10 million in January, 1.20 million at January end, 15.50 million on February 1, and 100 million on February 15. The simple reason behind its popularity is that it is a powerful AI chatbot that can be used for many tasks.It can generate text, translate languages, write different kinds of creative content, and answer your questions in an informative and human way.
ChatGPT is built on top of OpenAI’s GPT-3.5 and GPT-4 foundational large language models and has been fine-tuned using supervised and reinforcement learning techniques. It is a great tool to have and very useful for students and teachers.
However, it is still in its early stages, and its ability to handle complex conversational scenarios is limited. While it can generate coherent and grammatically correct responses, it may struggle with understanding and responding to complex or nuanced questions. It also has limitations while interpreting user interface features such as buttons, menus, and links. This can make it challenging to use for customer service scenarios that require an understanding of these features.
Additionally, as an AI language model, ChatGPT is only as unbiased as the data it was trained on. If the training data contains biases or stereotypes, these may be perpetuated in the model’s responses. And it isn’t surprising that many such biased reactions came to light, mainly when they were related to the Conservatives and the Republican politicians in the UK and the United States.
A study titled “Danger in the Machine: The Perils of Political and Demographic Biases Embedded in AI Systems” was conducted by researchers at the Manhattan Institute (published on April 1, 2023), and it found that ChatGPT was more likely to generate positive responses to prompts about President Biden than President Trump. For example, when asked to write a poem about each president, ChatGPT’s poem about Biden was more positive and uplifting, while its poem about Trump was more negative and critical.
Also, when ChatGPT was asked to write a poem about a woman, it generated an optimistic poem. However, ChatGPT was more likely to induce a cynical poem when asked to do the same about a man.
However, despite these limitations, ChatGPT has shown to be a prevailing tool for natural language processing tasks and continues to evolve as new developments in AI research and technology emerge.
So, you might want to use a different chatbot if you are looking for a chatbot with specific features or benefits. You also might want to use a ChatGPT alternative if you are concerned about the privacy or security of your data. And that is why you must know what options are available for you to use.
Finding New Alternatives
So here is a list of ChatGPT alternatives; there are several factors involved in the decision making like—
Accuracy: Your chatbot of choice should be able to generate accurate and factual text.
Fluency: It should be able to generate human-like text that is easy to read and understand.
Creativity: Also, it should be able to generate creative and original text, as ChatGPT can.
Flexibility: It should be able to be used for a variety of tasks like content writing, journalism, creative writing, education, etc.
Privacy: It must protect the privacy and security of your data.
Ease of use: The chatbot should be easy to use and set up.
Cost: It should be affordable and easily accessible.
Reputation: The chatbot should have a good reputation with other users. News of biasedness does not build trust in users, and users start looking for alternatives.
The best ChatGPT alternative for you will depend on your specific needs and requirements, but let’s see how these 12 alternatives are helpful:
Google’s Gemini AI Chatbot – Best ChatGPT Alternative
Google’s Gemini is an Artificial Intelligence (AI) chatbot, launched in 2023 for some users and has trained on a massive dataset of texts and codes. Plus, it is also proficient in natural language processing and human-like conversations. When prompted, it can generate text, poems, creative content, etc.
Gemini AI is powered by Google’s LaMDA language model, one of the most powerful language models available.
It is known for its ability to generate factual and informative text
It can be used for multiple tasks like– research, writing, and education.
Bing AI Chatbot is another AI-powered chatbot that uses the same technology that powers ChatGPT (first GPT 3.5, since updated to GPT-4) to provide users with answers to their queries. With OpenAI, Microsoft partnered with 1B USD to power OpenAI’s Artificial Intelligence and deep-learning developments in 2019. And in 2023, Microsoft integrated GPT-3.5 features in its Bing Search as Bing Chat.
As for its availability— it is currently available only to selected users who have received an invitation and will be available to more users in a few weeks. Bing AI Chat has now become a cool feature of Bing Search, and it is very helpful in providing accurate information written in human-text output.
What is Bing AI (in 120 seconds) & How to start using Bing Chat
Chatsonic
Tool
Chatsonic
Launched In
2023
Free Version
Free Trial Available
Chatsonic – Best ChatGPT Alternative
Chatsonic is an AI-powered, large language chatbot developed by Writesonic, and it utilizes the powerful GPT-3 language model (now powered by GPT-4) developed by OpenAI. Like ChatGPT, an alternative of ChatGPT, it can generate text, translate languages, write different kinds of creative content such as poems, code, scripts, musical pieces, emails, letters, etc., and answer your questions in an informative way, even if they are open-ended, challenging, or strange.
Chatsonic is still under development, but it has learned to perform many kinds of tasks, such as ChatGPT. It can generate realistic dialogue for chatbots and virtual assistants and translate languages more accurately and fluently than current machine translation systems.
Since its launch in February 2023, ChatSonic has quickly gained popularity, reaching 1 million users in its first month.
Another ChatGPT alternative is YouChat. It was announced in February 2023 and developed by You.com. It is a search assistant that uses an AI system similar to ChatGPT (powered by OpenAI’s GPT-3 language model). It provides users with summarized answers to their questions directly in their search results without the need to browse multiple websites. It is integrated into You.com’s search engine and keeps up-to-date with the latest news and citations. It can generate creative and entertaining text for numerous tasks, including storytelling, jokes, and poems.
Character.AI
Tool
Character.AI
Launched In
2022
Free Version
Available
Character.AI – Best ChatGPT Alternative
Last but not least, the Character.AI. It is a neural language model chatbot web application that can generate human-like text responses and participate in contextual conversations. It was constructed by previous developers of Google’s LaMDA, Noam Shazeer and Daniel De Freitas. The beta model was made available to use by the public in September 2022.
With Charater.AI, users can create and customize “characters” with unique personalities, define specific parameters, and share them with the community for interactive conversations. It has been praised for its ability to generate realistic and engaging discussions, and as of March 2023, Character.AI has over 1 million users.
Semrush ContentShake AI – Best ChatGPT Alternative
ContentShake AI is an impressive tool that generates content quickly and easily, making it a great option for those who need high-quality content in a short amount of time. Its standout feature is the competitor analysis, which provides valuable insights into your competitors’ images, headings, and introductions. However, it does have a few drawbacks. For example, it’s not integrated with popular tools like Grammarly, and the options for content management are limited, which can be frustrating. Overall, though, it’s a solid choice if you need a quick draft based on keyword research, although there are a few areas that could be improved.
Claude
Tool
Claude
Launched In
2023
Free Version
Free Trial Available
Claude AI – Best ChatGPT Alternative
Claude, developed by Anthropic AI, is an AI chatbot and also the name of the underlying Large Language Models (LLMs) that power it. It is designed to have natural, text-based conversations and is particularly good at tasks such as summarization, editing, Q&A, decision-making, and more. Claude’s strength lies in its creativity and the style of writing that it adopts, which closely resembles that of a human being. Currently, Anthropic offers three models of Claude: Claude 3 Haiku, Claude 3 Sonnet, and Claude 3 Opus. Each version builds on the capabilities of the previous one, bringing it closer to human-like comprehension. One of the most impressive features of Claude is the maximum token length, which is a staggering 200,000 tokens, equivalent to approximately 150,000 words. To put that in perspective, the average book contains around 75,000 words, so you could theoretically paste in an entire book and prompt Claude to your heart’s content. But it’s not just books – you can also use Claude to analyze and perform tasks on lengthy excerpts of code, documents, and more.
GitHub Copilot is a tool developed by GitHub in collaboration with OpenAI that assists developers while writing code. It is an AI-powered code completion tool that suggests relevant code snippets based on the context in which you’re writing, including your variable names, comments, and code structure. This tool aims to save developers time and reduce bugs by handling repetitive coding tasks. Copilot is built on OpenAI’s GPT-4 language model, which allows it to comprehend code structure and patterns across dozens of programming languages. It can suggest completions for whole functions or classes after just a few lines, thus increasing productivity.
Although it’s an AI-generated tool, it’s not perfect and might sometimes suggest outdated or lengthy code snippets. However, the GitHub team is confident that Copilot can continue to learn and improve. It’s important to note that Copilot is a code model and does not work for conversational chats like ChatGPT.
Perplexity AI was developed by a team of renowned scientists, Aravind Srinivas, Denis Yarats, Johnny Ho, and Andy Konwinski. These scientists are well-known for their work on large language models like GPT-3 from OpenAI. Their aim was to create an AI-powered search and answer engine that provides users with reliable responses to their queries.
Perplexity AI works by using natural language processing to understand questions asked in everyday language. It then searches the internet and its own knowledge base to provide accurate conversational responses. One of the major benefits of using Perplexity AI is its high accuracy. It is the perfect assistant for fact-checking sources and validating any hypotheses while writing an essay or content piece. Multimodal models like ChatGPT may be better at complex problem-solving or content generation, but Perplexity AI is particularly good at search. Therefore, it is important to choose wisely based on your needs.
WriteSonic
Tool
WriteSonic
Launched In
2012
Free Version
Free Trial Available
WriteSonic – Best ChatGPT Alternative
Writesonic is a writing tool powered by AI that specializes in producing marketing and business content. It provides various templates and features that help to create ad copy, product descriptions, emails, blog posts, and more with ease. Although not as advanced as ChatGPT in solving complex problems, it is incredibly useful in quickly generating written content. However, different pricing tiers come with a limit on the number of words that you can generate per month. Therefore, it is necessary to keep track of the word count if you produce a lot of content.
AnonChatGPT
Tool
AnonChatGPT
Launched In
2023
Free Version
Free Trial Available
AnonChatGPT – Best ChatGPT Alternative
AnonChatGPT is a chatbot powered by OpenAI’s GPT-3 that allows users to chat anonymously without the need to provide any personal information or sign up. Although it may lag behind other models, it prioritizes user privacy and can be a secure alternative. The conversations are not stored, logged or shared by the service, and users can chat anonymously with others who are online. The ultimate goal of AnonChatGPT is to create a platform for AI conversations without compromising the user’s personal data. When considering the best ChatGPT alternatives, AnonChatGPT stands out for its commitment to privacy and security.
Elon Musk‘s xAI startup has created a unique AI chatbot called Grok AI, formerly known as “TruthGPT.” This chatbot is gaining popularity due to its distinctive approach to the typical LLM. Grok AI is designed to interact with users in a playful and sometimes rebellious way, aligning with Musk’s vision to challenge “woke” culture. However, some critics doubt the reliability of Grok AI, as its training data comes from X (previously known as Twitter), which includes unverified tweets and thread data. Despite this, Grok AI has a significant advantage in terms of its ability to access X’s latest data, making it an invaluable chatbot for inquiries about current events.
So, these are the 12 alternatives to ChatGPT, and we believe the ChatGPT alternatives we have selected are the best available. However, it is also important to note that this is our opinion, and your experience may vary.
FAQs
What are the limitations of ChatGPT?
ChatGPT may struggle with understanding and responding to complex or nuanced questions. It also has limitations while interpreting user interface features such as buttons, menus, and links. This can make it challenging to use for customer service scenarios that require an understanding of these features.
People who know how to write and write daily, be it for fun, as a hobby, or for a living, always feel that there must be something to put your innate thoughts into words. They write letters, articles, records and minutes of meetings, and all these kinds of letters— joining letters, resignation letters, offer letters, letters to fathers, sons and wives and mothers, and my favourite, letters to pen pals. Those who write often understand something called writer’s block. It is a moment while writing when you can’t finish a thought and can’t find words to describe a particular type of thought that seems to linger around some corner of your mind. And this is where I think ChatGPT can help.
For people who do not know what ChatGPT is— it is a generative AI (Artificial Intelligence) Chatbot model developed by OpenAI. The company has been involved in Artificial Intelligence, ML, and deep learning research and development for many years from now. OpenAI’s ChatGPT is a conversational AI model based on the Generative Pretrained Transformer 3 (GPT-3) architecture.
Around 2017, a bunch of scientists who had previously worked at Google Brain developed the Transformer architecture, which was a big success in the field of generative AI. In 2018, OpenAI launched the first Generative Pretrained Transformer (GPT-1), and then in 2019 came GPT-2, further succeeded by the launch of GPT-3 in 2020. Recently, in March 2023, OpenAI launched its most ambitious project and the most advanced GPT model, the GPT-4.
ChatGPT has been trained on a diverse range of internet text, allowing it to generate human-like text in response to the given prompts. It is built on top of OpenAI’s GPT-3.5 and GPT-4 (ChatGPT Plus) foundational large language models (LLMs) and has been fine-tuned using both— supervised and reinforcement learning techniques, which allows it to process natural language more efficiently and converse better with users. It can interact conversationally, answer follow-up questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.
What Are The Ways ChatGPT Can Be Used For Content Creation?
ChatGPT is a generative AI and works on user input or prompts. Although it can understand human language and keep in mind the context of the conversation, you, as a user, must know what kind of content you want. You are to give it instructions to produce content and generate the sort of text you want. On the surface, ChatGPT can help with brainstorming content outlines. It acts like an editor, giving you direction and structure for your ideas, which can be especially useful when starting a new piece of content and needing guidance for organizing your thoughts. Ultimately, you have to come up with the original idea of where your content should be heading and what information you would like to use.
Let’s see how ChatGPT can help with content creation;
Creating Content For Websites And Blogs Using ChatGPT
When it comes to content writing for websites and blogs, there are a couple of things you need to keep in mind:
Researching facts and details about the topic
Flows of your blogs/article
Creativity
Add something new
ChatGPT is a powerful tool that can help you write a well-researched and succinct article or blog post. If used wisely, it can also create a wireframe of your article, with headings and subheadings, and create an intro, body, and conclusion as per your command.
Even if you put the title of your blog or article under quotes and ask it to write a blog, it will most certainly do that and will create a blog post for you.
Let me show you what I mean:
When I asked ChatGPT to write a blog on “why one should not write only using ChatGPT.”
It highlights that while ChatGPT has opened many possibilities in various applications, one should not solely rely on ChatGPT or any other language models as it lacks creativity and originality. The content produced might not always be factual, and you might have to fact-check yourself. The content might also lack emotional intelligence, and context will surely hamper your writing style.
ChatGPT response on Why one should not write only using ChatGPTChatGPT response on Why one should not write only using ChatGPT
So, what should be done instead? How to use ChatGPT for creating content? Well, the answer is simple as it said: treat it like an assistant and not a replacement.
Here’s a list of things to follow:
You can ask ChatGPT for some background on the topic
Ask ChatGPT to create a wireframe for your blog post, and if you don’t like it, ask it to be creative.
You can write an intro for your blog, put a different perspective, and if you want, you can ask it to rephrase some of the lines.
If you doubt the facts presented, you can ask it to show resources and check that out yourself to ensure accuracy.
When I’m creating content, I like to delve deep into research and explore various angles and perspectives. It’s important to consider different viewpoints and opinions in order to present a well-rounded argument. This is where ChatGPT can be an invaluable tool. It can present arguments from the opposing side of your viewpoint, which can help you strengthen your argument by addressing potential counterarguments. Additionally, ChatGPT can assist in refining your message by presenting alternative ways of expressing your ideas for different audiences. Overall, ChatGPT is a powerful resource for creating comprehensive and compelling content.
Brainstorming Content Outlines
After identifying the key points of your content, you may find it helpful to use ChatGPT as a tool to shape and generate content outlines. In my experience, this is one of the prime benefits of ChatGPT – it operates as a virtual editor, providing you with direction and form for your ideas. By utilizing the AI-powered assistance of ChatGPT, you can effectively structure and organize your content in a clear and concise way for your intended audience.
Summarizing Content
If you are looking for ways to make your research and planning phase easier while creating something, then ChatGPT can be of great help. One way to utilize ChatGPT’s abilities is by asking it to summarize lengthy blog posts, books, or video transcripts. I have found ChatGPT to be highly efficient in summarizing content. To request ChatGPT to summarize a blog post for you, you can simply say, “Can you please summarize the key concepts of the following blog post in a few paragraphs:” and provide the post details. While you don’t necessarily need to use the word “please,” it can be a polite way to request ChatGPT’s assistance.
ChatGPT is an amazing tool that can assist you in your research and planning tasks when creating content. However, it can also help you write complete content drafts for various purposes, such as blog posts, social media captions, video scripts, emails, and more. One of the best features of ChatGPT is that it can help you overcome writer’s block by providing you with a good starting point. All you need to do is give it an idea of what you want to write, and it will do the rest. For instance, if your boss has asked you to write an out-of-office email, you can rely on ChatGPT to help you compose a message that is both informative and playful. Thanks to its advanced programming, ChatGPT can suggest the right words and phrases to use, making the process of writing more efficient and less stressful.
Repurposing Content
I have discovered that ChatGPT is not only capable of generating content from scratch, but it can also be incredibly helpful in repurposing the content that I have created across various platforms. One notable example is the way ChatGPT can take a TikTok script that I have previously recorded and transform it into a highly effective post on LinkedIn. This capability has been a game-changer for me, as it allows me to maximize the impact of my content without having to start from scratch every time I want to post on a new platform.
Writing Proposals for Projects
One of the ways in which I find ChatGPT to be exceptionally useful is in creating proposals and documents for different projects that I am working on. Specifically, I have found that using ChatGPT for content writing is an excellent starting point for a wide range of internal processes or ad hoc tasks. With its impressive capabilities, ChatGPT has proven to be an invaluable tool that helps me to streamline my work and produce high-quality deliverables in a timely manner.
ChatGPT can help here as well. It can help you generate research you can use in SEO-focused content, saving you time and effort in gathering information for your content. In addition to writing and research, it can also perform specific SEO tasks to support your content creation. It can help with keyword research or content clustering, which is very useful in optimizing your content for search engines and improving its visibility. Another way ChatGPT can help with content creation is by creating embeddable elements and enhancements within your content. This can make your articles more engaging and linkable, thus improving their performance on search engines.
Mastering ChatGPT for SEO Content
Apart from that, ChatGPT can help you create other kinds of content as well. You can ask it to write letters to your boss on a particular matter or a letter to your mother, which you will have to edit personally, but it can get you started nonetheless. And sometimes a start is a good thing. Most people who write often struggle with where to start, and ChatGPT has been a big help.
ChatGPT can also help you with emails, speeches, codes, and creative writing like short stories and poetry, which is especially helpful for school-going kids and college students.
ChatGPT is a large language model or a conversational AI or chatbot trained to be informative and comprehensive, and it performs its job wonderfully— most of the time. It is introduced to a massive amount of text data (approx. 570GB in size and 6B parameters) and can communicate and generate human-like text output in response to a wide range of user prompts and questions. You can ask it to summarize a historical event; it will do just that. When it comes to content creation, it can help to improve the quality of content by providing writers with access to a more expansive range of information and perspectives. It can generate drafts that can further be edited by the writers themselves, speeding up the content creation process. However, despite its vast data set and training, ChatGPT still produces subpar content. It lacks the context, emotional intelligence, and sophistication of a human writer. Furthermore, its training dataset is limited to 2021, meaning it is stuck in 2021 while we are in 2023. So, most of the time, when it should, it fails to bring up new events that just happened. This is a problem, and if you’re a news writer, it matters even more. So, use it wisely and ethically.
Below are some helpful resources to learn more about ChatGPT and its effective usage:
The OpenAI website: This is ChatGPT’s official website. Here, you can find information about the tool, including its capabilities and limitations, as well as tutorials and examples of how to use it.
The OpenAI GitHub repository: This is an open-source community for ChatGPT developers that provides code examples and implementation details.
The OpenAI community forum: This platform enables developers and users to exchange insights and experiences regarding ChatGPT.
The OpenAI API documentation: This guide provides a detailed explanation of how to access and utilize the ChatGPT API to generate text.
The OpenAI blog: This website provides valuable information and best practices for utilizing ChatGPT.
FAQs
Can I use ChatGPT for content writing?
Yes. ChatGPT is an excellent tool for content writing, offering impressive capabilities to streamline the writing process and produce high-quality content efficiently.
How to use ChatGPT for content creation?
Here’s a list of things to follow while creating content through ChatGPT:
You can ask ChatGPT to create a wireframe for your blog post, and if you are not satisfied with it, ask it to come up with something more creative.
If you need help writing an introduction for your blog, ChatGPT can provide a different perspective, and you can ask it to rephrase some lines.
If you have doubts about the facts presented in your blog, you can ask ChatGPT to show you resources to check for yourself and ensure accuracy.
Finally, if you need help concluding your blog post, you can ask ChatGPT to provide an ending.
How does ChatGPT help in creating SEO-friendly content?
ChatGPT can help to generate research that can be used in SEO-focused content, saving time and effort in gathering information for the content. In addition to writing and research, it can also perform specific SEO tasks to support content creation. It can help with keyword research or content clustering, which is very useful in optimizing content for search engines and improving its visibility.
This article has been contributed by Neha Mohanty, Founder and Director, StarFishGlobal Communications LLP.
Fake influencers trick brands into thinking they have real reach and impact. They do this by using fake follower counts, bought likes, and comments. The authenticity of influencer marketing is damaged by these imposters, which also undermines customer confidence in companies and real influencers. They also waste marketing funds on unproductive collaborations, which reduces the return on investment (ROI) of influencer marketing initiatives and impedes the development of real innovators.
Due to the increase in the number of fake influencers, social media companies have taken action to stop fraud and encourage openness. Bot-generated likes and comments are examples of fraudulent engagement strategies that algorithms have been trained to recognize and penalize. To identify real influencers and give consumers information about the demographics and legitimacy of an influencer’s audience, platforms have also implemented verification badges and transparency tools.
Many people have turned to dishonest methods in an attempt to seem like significant characters on the internet in their pursuit of wealth and fame. In the digital sphere, fake personalities, inflated engagement metrics, and followers are all too common. By using fake influence, these so-called influencers trick both real followers and brands.
Impact On Brands
The abundance of fraudulent influencers presents serious difficulties for brands. Marketing funds are wasted and brand trust is damaged when companies work with dishonest influencers. Furthermore, connecting with bogus influencers may provoke a negative response from disappointed customers, harming a brand’s reputation over time.
The Erosion of Trust
Influencer marketing relies on trust between influencers and their audience. The rise of fake influencers, who throw doubt on the legitimacy of social media exchanges, is hurting trust. Sincere ties between influencers and their followers foster an invaluable sense of loyalty, that brands loose out on when they engage with bogus influencers.
Why Transparency Is Important?
Transparency in influencer partnerships builds credibility for both the brand and the influencer, leading to long-term success and loyalty from their audience. Ultimately, being transparent in all aspects of influencer marketing fosters a genuine connection between all parties involved and helps to create a more authentic and trustworthy online community Brands should place a high premium on collaborating with respectable and honest influencers. They should do a fake influencer check to understand if the influencer has real or fake bot followers, lot of tools are available for the same. In addition to being genuine about their partnerships and disclosure of sponsored content, sincere influencers also actually know their audience.
Micro-influencers Emergence
Micro-influencers are real role models in the influencer marketing space, especially when mega-influencers lose their attraction. Because of their modest but extremely engaged followings, micro-influencers provide advertisers with a chance to build a deeper relationship with targeted audiences. Because of their genuine relationships with their followers, these influencers foster a precious feeling of trust in today’s cynical world.
Influencer Marketing Market Size Worldwide from 2016 to 2024
The Power of User-Generated Content
User-generated content (UGC) can be used as a valuable marketing tool by brands, especially in the age of fake influencers. Brands can foster genuine connections and communities around their products and services by encouraging customers to create and share content. This may help them eliminate the need to use traditional influencers in their marketing campaigns. Amplifying real voices and stories through user-generated content (UGC) is a great way to foster brand loyalty through direct customer engagement.
Brands are reassessing their marketing tactics in the face of the confusion caused by phony influencers, moving toward initiatives with a purpose that connect with customers more deeply. Social responsibility, authenticity, and openness are now necessary rather than optional elements of effective marketing efforts. Brands may establish authentic connections and gain the trust of consumers by connecting with issues and values that resonate with their target demographic.
Conclusion
As a result, sincerity, openness, and sincere relationships are key components of influencer marketing in the era of faux influencers. To successfully navigate the changing digital landscape, brands need to emphasize working with influencers who exemplify these values, utilizing technology, and adopting innovative approaches. Brands can overcome the noise of fake influencers and create enduring relationships with their audience by adhering to their core principles and interacting with customers in meaningful ways.
In addition to screening influencers, brands can protect themselves against fraudulent influencers by varying their marketing approaches and distribution methods. Influencer marketing is still a powerful tool for connecting with target audiences and encouraging interaction, but it should work in tandem with other marketing campaigns like paid advertising, community development, and content marketing rather than taking their place. Brands may avoid the risks associated with an over-reliance on influencer collaborations and adjust to changing consumer tastes and habits by diversifying their strategy.
Niku Mandal
