MARCH 20238he market is booming with the growing needs amongst companies to digitize business processes to achieve business goals, customer satisfaction, improved scalability, and productivity in various vertical sectors of industries. Moreover, the increasing adoption of cloud-based process automation tools should contribute to market growth, where it might aid a business in increasing ROI, brand recognition, and clientele. It has developed as a sector over time and is currently one of India's fastest-growing business networking platforms. The marketing efforts to interact with their target audience and boost sales have become a common strategy for e-Commerce businesses. For e-commerce firms in 2023, it will be more crucial than ever to comprehend the most recent statistics and trends in influencer marketing in order to plan their influencer campaigns effectively. With the pandemic and the recent growth of influencer marketing across all platforms, marketers are increasingly using influencers to deliver sponsored content across marketing channels. In an effort to get a return on investment by generating sales conversions, brands are beginning to work with YouTube influencers, Instagram influencers, and others in brand collaborations and partnerships.Micro-Influencers & its Positive Impact on the MarketThe market is showing a trend toward choosing micro-influencers over mega-influencers. Influencers with fewer than 10,000 social media followers are preferred by brands. Micro-influencer engages with their followers more regularly and is more relatable and authentic. However, despite having millions of followers, superstars and mega-influencers don't engage with their fans as much and come across as less approachable. Because micro-influencers typically have a strong understanding of their specialised field, their followers are more likely to trust their advice. Compared to mega-influencers and superstars, micro-influencers are more reasonably priced.The rising demand of macro and mega-influencers can more freely set prices. The inability of brands to afford macro-influencers is one of their biggest problems. Brands are choosing micro-influencers instead of macro and mega-influencers because of the significant costs involved. The demand for the Micro-Influencer segment is anticipated to increase throughout the forecast period.Application Technology MarketIn today's rapidly evolving digital world, companies face a variety of challenges to increase their visibility and sales due to information overload in the marketplace. One of the key responsibilities of any business is marketing, which assists brands in identifying and connecting with their target market. Companies use various marketing strategies, such as offline and online marketing. With the growing penetration of digital devices and the upward trend of social media platforms, businesses are looking for innovative marketing tactics like influencer marketing. However, businesses are finding it difficult to search for suitable influencers to brand their products and services. Even when brands find the right influencers, they will need to connect with these people, which is a slow and complex process. To facilitate this process of discovering and engaging TINFLUENCER MARKETING STATISTICS TO DRIVE YOUR STRATEGIES IN 2023 EDITORIAL EXCLUSIVE
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