“People do not buy goods and services, they buy relations, stories, and magic.” A great quote by Seth Godin clearly defines how marketing strategies should be built. Nowadays, the customers don’t want to buy a product but rather they are looking to create a relationship with the product, and that has given rise to Influencer Marketing. This growing consciousness has been the growth platform for Influencer Marketing and today it has become a big game changer within the corpus of marketing. According to a recent report this sector is expected to grow to be worth $13.8 billion by the end of 2021.
Founder and CEO of Bewakoof, Prabhkaran Singh, said, “Currently, our spend in influencer marketing is under 10% of our total marketing budget. However, we plan to harness its potential more aggressively as we have seen good results so far and will be scaling our investment in this particular segment”. This clearly indicates that the fashion brand‘s traditional ways of marketing have got more success for the company. Jatin Gujrati, Business Head of Vedix said on this and added, “Influencer marketing has increasingly become a necessity for the brands all around the world because influencers have the power of their community and that can help a brand communicate its message to the target audience. We have already implemented influencer marketing in our recent campaigns and have achieved great success with it”