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Has been updated: April 10, 2024 14:19 IST
Business Wire India
Bangalore (Karnataka) [India], April 10: Kofluence, India's leading social media influencer marketing tech platform, proudly announces the release of its annual benchmark report 'Decoding Influence: The 2024 Influencer Marketing Report'. From tracing the origins of influencer marketing to delving into the underlying psychology of consumer behavior, from analyzing the overall market size to examining compelling case studies, this report explores the key trends, challenges, and challenges in the creator economy. , comprehensively uncovering opportunities. By providing strategic recommendations and actionable insights backed by data, we ensure readers are equipped with the tools they need to effectively navigate and capitalize on the opportunities presented by this evolving industry. can.
Ritesh Ujjwal, co-founder of Kofluence, emphasized the importance of this report, saying, “In today's digital age, customer acquisition costs are constantly rising, coupled with a 5 percent customer retention D30 retention rate. face formidable challenges across the entire customer lifecycle.” They are responding strategically by leveraging trust through collaboration with influencers, making a significant departure from traditional approaches, especially in the online environment where ad-weary consumers allocate a significant portion of their time. Masu. We offer our readers a centralized resource with unique insights and proven strategies from top brands and industry experts. ”
In recent years, the influencer marketing industry has matured significantly and has emerged as a global multi-billion dollar market. The shift from traditional celebrity endorsements to social media creators on platforms such as TV, radio, and newspapers is driven by a shift toward the “Five Ws”: the who, what, when, where, and why of a specific target audience. ) emphasizes a strategic focus on . According to the report, India's creator economy is thriving, with 2.5 million to 3.5 million creators active primarily on platforms such as Instagram and YouTube. Notably, his 110,000 to his 170,000 creators on YouTube are actively monetizing their content, cementing YouTube's position as the leading platform for creator monetization in India. .
Sharing his views, Sreeram Reddy Vanga, CEO and Co-Founder of Kofluence, said: “The past few years of monetization have underscored that sentiment. I envision a future where data-driven platforms take the lead and standardized metrics and regulatory guidelines enhance transparency and efficiency. In this 2024 edition of the Influencer Marketing Report, we leverage that insight.'' Over 1,000 content creators, brands, and industry experts participated to provide insights into the current Influencer Marketing industry in India. It summarizes the feelings I have. ”
To download the report – click here
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