How can brands leverage from influencers and content creators?
Decoding influencer marketing trends, pricing for videos and how the space is growing for branded content in the future
Brands create content that they know in a traditional way, which is promotional. The content however doesn't relate to the millennial audience. Here is where influencers and brand integration steps in to build a connect with the right target audience.
Brands sometimes want to create an ad film but it may or may not work depending on the content. It will only work if the influencer takes a call on the integrated creative branded content because they know what will connect with the audience.
For instance, if Head & Shoulders ran a campaign for 20 days with 20 lakh rupees vs doing an influencer campaign for 2 lakh rupees, the influencer marketing efforts will give them much more targeted results and call to action.
“Brands still are catching up with the Internet generation. What worked great as an ad or a content marketing idea yesterday is close to irrelevant today," shares Satyen Poojary, Founder, The Creator Network.
Gaurav Gera, Indian Comedian says he can see advertising in the Internet space growing rapidly. He added, "What is fueling it, is funding of course, which is advertising. I think advertising is very targeted. At times I noticed if I'm looking for a camera, the internet shows me a camera on Facebook or other social media sites, it helps me buy a camera. It's helpful and a wonderful way of marketing."
Talking about brands and if they force influencers for better engagement Gera stated, "In the beginning, four to five years ago, brands would tell you what to make. I would explain that I understand my audience and therefore I will create content in a certain way for them. I don't want to do too much Direct Marketing. Overselling puts off an audience. I make sure, when I make content, I don't do too much marketing, for every post has to be well spaced. Every post can't be asking audiences to buy this or that."
Mubaikaar Nikhil shares that brands don't force me for brand endorsements. "I can be picky about it. Because there are millions of people who like my content and believe me. I have built up trust and it has a lot of value on digital,” he added.
Trends that shape the influencer marketing space
The Rajat Code, comedian says that the influencer marketing space has evolved a lot. "I feel like it's constantly changing, all you have to do is to not try and understand how this will shape the influencer market, but cater to what is required as a content creator. If you feel something is required that can help you build your audience or build your career as a content creator, you should do that. The influencer space is phenomenal and it will become bigger and better,” commented Rajat on influencer marketing trends.
Are brand endorsements a long term strategy for generating revenue?
Rajat says, major revenue is generated through YouTube views and brand endorsements that are done on Instagram and YouTube. "Sometimes there is brand integration, so you put up stories. Sometimes there is cross-promotion which is not necessarily money that you get. Instead, you get invited to a good destination or an event, so you have to make a vlog there in return."
It is brand endorsements that garner revenue says Be You Nick. "Although, I have got to work with brands that understand me and let me give in the creative call that is relatable to my audience."
Mumbiker Nikhil, Vlogger says, "Earlier I used to only make money from YouTube. Then came Instagram, then brand promotions, and I am a digital ambassador for few brands. Because I am a Vlogger and previously I was in the hospitality industry. I understand when to be a top manager or a friend. This is the thing that brands have made a note of and they connect with me. Today, I actually make more revenue on brand endorsements than YouTube."
Probing influencers about the payment structure for branded content, some shared off-the-record that the whole video is branded even if it's for 5 minutes. Even if it is a 30-sec integration the content of the whole video is around that brand integration.
"It varies from one lakh to 10 lakhs and above, which is enough to sustain an influencer and is much better than a full-time job,” said an influencer off-the-record about the pricing system.
Another content creator shared that the pricing depends on the audience of the influencer, and if it is niche, the brand is a niche too. A big YouTuber will charge you from 4 lakhs to a 4-crore rupee deal. "There are many pricing models. It depends on your viewership and the cost that the influencer quotes.”
Digital Advertising will grow at 32% in India to Rs 14,281 crore in 2019, according to a DAN- e4m Report. While a Talkwalker report stated, 72% brands will increase the influencer marketing budget in 2020. Therefore, the influencer marketing space has a lot to offer for brands to reach out to the right audience. The only thing that brands need to keep in mind is that the influencer relates to their product or service, and the influencer’s authenticity.
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