Tag: Neha Mohanty

  • Future of Influencer Marketing in the Age of Fake Influencers

    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.

    Rise of Fake Influencers
    Impact On Brands
    The Erosion of Trust
    Why Transparency Is Important?
    Micro-influencers Emergence
    The Power of User-Generated Content
    The Transition to Purpose-Driven Marketing

    Rise of Fake Influencers

    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
    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.


    How to Promote Your Brand Using User-Generated Content?
    User-generated content is today’s social media era’s word of mouth. Discover how you can take advantage of UGC for the promotion of your brand.


    The Transition to Purpose-Driven Marketing

    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.


    The Ultimate Guide to Influencer Marketing In India in 2021
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  • Consumer Demand Surge: Indian Businesses Gear Up for the Festive Season

    Businesses are excited to meet surging consumer demand and capitalize on increased spending. They are implementing efficient supply chain strategies to meet the extra demand.

    As India’s festive season approaches, businesses are gearing up to meet the surging consumer demand. From the illuminating Diwali lights to the joyous Eid celebrations, this period is not only culturally significant but also a pivotal time for businesses to capitalize on increased consumer spending. The season comes with its own unique set of challenges and opportunities, making it an exciting time for retailers and marketers alike.

    Mr. Sumit Garg, Co-Founder and Managing Director, of Luxury Ride, expressed the excitement among buyers and their willingness to increase spending during the festive period. He said that the festive season is set to arrive in full swing, and it is stirring a lot of excitement among the buyers. They have been awaiting the festive period for a very long time, and they are willing to raise their spending to purchase the product they have been eyeing for a very long time.

    He also mentioned that similar sentiments have been witnessed even in the pre-owned luxury car segment, and Luxury Ride is curating a comprehensive collection of cars that offer the best value for money, based on an understanding of consumer behavior and demands.

    “Preparing for the festive season, we are already in the process of organizing an inventory that flaunts a wide range of options in terms of diversity in car models, price range, or showcasing vehicles from different segments under a single roof. By maintaining more than 75+ cars in the inventory at a given point in time, we aspire to make shopping a hassle-free experience for customers by allowing them to choose from a wide range of options in terms of price and variety that are available at the same place. The extensive collection will enable them to select from a variety of cars in the segments of sedans and SUVs ranging from Rs 20 Lakhs to Rs 1.25 Crore,” Mr Garg added.

    Regional and Demographic Insights
    How Festive Season Spending Differs in India by Region and Demographics
    Transaction Size Variations During Festive Season
    Fostering Connections Beyond Sales

    Regional and Demographic Insights

    The festive season is when most Indians spend money on gifts. While speaking with Abhishek Vyas, Founder of SBMV Gift Shop, he highlighted regional and demographic variations in spending patterns during the festive season. He said, “At SBMV, we are offering a wide range of high-quality gifts at competitive prices, plus promotions and discounts throughout the season. We are well-positioned to capitalize on the growth of the Indian gift shop industry.”

    He also shared that the spending pattern varies across different regions of India and among different demographic groups depending on the festival. While people in northern India tend to spend more on Diwali, people in the southern part, especially in Kerala, tend to spend more on Onam. Similarly, younger people are more likely to spend money on experiences and gifts that give back, while older people are more likely to spend money on traditional gifts.

    To capitalize on the increased consumer spending during the festive season, Mr. Gurpreet Singh, Director of River of Design (ROD) said that they have a multifaceted strategy in place. “We recognize the importance of offering exclusive and innovative designs that resonate with Gen Z, our primary target audience. Our commitment to delivering cutting-edge style and design ensures that we remain at the forefront of fashion during this crucial period. We will introduce special festive collections that cater specifically to the tastes and preferences of our Gen Z customers, ensuring that our products are not just fashionable but also affordable.”

    Additionally, he mentioned that ROD would collaborate with leading brands to create exclusive lines available only on platforms like Myntra and Flipkart. These collaborations not only would boost their visibility but also would align them with established names in the fashion industry, attracting a wider customer base. He also shared that the latest trend in this festive season spending reflects a growing emphasis on sustainability and innovation in fashion for which they have developed unique blends of yarn with eco-friendly indigo dyes.

    How Festive Season Spending Differs in India by Region and Demographics

    Mr. Nitish Rai, Co-founder and CEO of Freightfox, said, “The country saw over 19% increase in GST collections in August 2023 over August 2022. The highest contributions came in from Bihar (27.25%) followed by West Bengal (24.5%) and UP (18.52%). Most of our customers saw a 10-12% increase in demand at the onset of the festive season in August, which is expected to further rise in September and October before we start seeing a decline.”

    The difference in average transaction value or basket size between the festive season and non-festive season in the gifting industry can vary depending on several factors, including the specific type of gifts, consumer behavior, and the strategies employed by retailers. Mr Vyas of SBMV Gift Shop said that during the festive season, especially leading up to major holidays such as Christmas, Hanukkah, Diwali, Eid, and others, the average transaction value or basket size tends to be higher compared to the non-festive season.

    Transaction Size Variations During Festive Season

    Businesses are implementing efficient supply chain strategies to meet the increased demand, ensuring that their products are readily available to their customers. Mr. Singh of ROD said, “As part of our expansion plans, we are targeting Tier II and Tier III cities where 70-75% of our orders originate. This expansion will further strengthen our presence in these regions and enhance our ability to meet the diverse market demands during the festive season.”

    Mr. Rai, of Freightfox, emphasized their commitment to empowering manufacturing enterprises with actionable insights on Scope3 emissions from the transportation and distribution value chains. Their Logistics Emissions Abatement Platform (LEAP) aims to help customers account for their logistics emissions and encourage the use of greener fleets in transportation networks. For Freightfox, it’s not just about making profits during the festive season; it’s also about making a tangible difference in minimizing their environmental footprint and contributing positively to the community and the environment as a whole.

    Fostering Connections Beyond Sales

    Ms. Akanksha Sharma, Co-founder and CEO of CITTA, emphasized the importance of fostering connections and respecting customers’ faith and traditions. She believes that the moments of cultural significance are not merely occasions to exchange gifts and pleasantries; they are an opportunity for brands to embrace the spirit of togetherness and innovation.

    She said, “The festive season is not just an opportunity to boost sales; it’s a chance to foster connections. We understand that festivals are deeply rooted in people’s lives, and we approach this season with the utmost respect for our customers’ faith, beliefs, and traditions. As a brand rooted in Indian traditions and backed by modern science, we take pride in being part of this tapestry. Our commitment is not only to pamper the delicate skin of babies and provide convenience to modern parents but also to celebrate the cultural richness of India, where ancient traditions harmoniously meet modern science.”

    Ms. Neha Mohanty, Founder of StarFishGlobal Communications LLP, said, “Giving gifts to those in need is how I give back to the community. Instead of exchanging gifts among ourselves, if we can simply give a portion of it to people in need, it will make a significant difference in their lives.”

    She emphasized the importance of coming together during the holiday season to purchase necessities like warm clothing, blankets, and toiletries, which can then be distributed to those in need within the community. She shared that this is a tradition she personally follows every year and encouraged everyone to consider it as it adds depth and meaning to the festive season and enables individuals to contribute meaningfully to their community. Neha suggested that giving back during the holidays provides a genuine experience of the holiday spirit.

    With a growing emphasis on sustainability and innovation, businesses are not only preparing for increased consumer spending but are also actively engaging in eco-friendly initiatives. Collaborations with leading brands and a focus on sustainability are poised to shape this year’s festive season.

    Moreover, logistics and supply chain expansion into Tier II and Tier III cities is pivotal in meeting diverse market demands during this festive period. It is clear that businesses are not only preparing for sales but also actively engaging with their customers to make this festive season truly special.


    Best Way to Market an eCommerce brand during Festive Season
    Various industry professionals & entrepreneurs share their insight on ways to market an eCommerce brand during the festive season.