Influencer Marketing: The Next Big Thing in E-commerce
The rapid growth of digital e-commerce has constructed a sturdy path for online sales and conventional online channels are seeing a saturation in sales, or often times, the proportion of the ad cost leads to increase in sales. In this scenario, it is interesting to note how influencer marketing has slowly but steadily changed the game. From brands sending their products to upcoming bloggers for a barter-deal to pursuing deeper, meaningful relationships with established influencers to create value for customers — the journey has been an interesting one to observe.
Rapid Growth of Fashion E-commerce & Lifestyle Influencers
To note a few statistics that summarises the growth of fashion e-commerce in India, consider this:
- The growth of online fashion retail by 2022 is estimated to reach a whopping $765B
- Attractive offers and discounts are provided to target mid-range earners
- The online retail business aims at tapping rural and urban customers alike
- In India, roughly 400 million users have access to the internet which is a sign of robust growth in online retail
- A big boost of 38% increase share of e-commerce in total fashion sales is what drives Influence marketing craze by a large extent.
I often observe the way celebrities and influencers in India prominently drive the fashion industry’s presence among their biggest follower group. It is interesting to watch the growth of influencer marketing which mimics the same pattern with more measurable results, and easier to access personalities who promote the brand or product.
Trust-Based Buying Decisions
While other players in this market provide similar services, the seller and buyer do not have a trust-based relationship but plays on the herd culture in relying on the volume of users gained to sell products.
By following their lives & lifestyle on digital platforms, a deep-rooted aspiration to wear what the established influencers wear or recommend has been created. When Spoyl launched Kritika Khurana’s collection designed in collaboration with her, over 50% of the collection’s stock sold out in a day!
This is the value proposition of Spoyl — it caters to an aspirational buying need amongst the millennials and Gen Z of the 21st century. Spoyl solves the problem of aspirational buying by acting as a social-video-commerce platform for young people’s lifestyles, built on the deep-rooted trust of an established influencer.
I’ve noticed that trust plays a huge role when it comes to the success of influencer marketing, and reviews from honest and reliable influencers like Santoshi Shetty and Karan Wahi have successfully convinced buyers of the quality of their collaboration with Spoyl. How do influencers manage to convince their followers in buying those branded collections? It’s through consistently posting relatable content, helping followers solve issues with their area of expertise and engaging with them.
By working with different levels of influencer e-commerce projects, influencers can be grouped further as small influencers and niche influencers. Aayushi Bangur, Kritika Khurana and Santoshi Shetty fall under the category of mega influencers because of their impressive repertoire of collaborations and their loyal and large follower base.
Once influencer marketing is on the right track, the influencer starts to build a movement depending on the number of followers. They find new ways of reaching people through exciting stories and ideas that convince their audiences.
Relatable People, Aspirational Content
The reason why influencers see the kind of successes they do is because their followers find them relatable and are therefore okay to mimic their buying choices. This could either be their lifestyles, their personal choices in style, inclusiveness or merely geography. There’s a tendency to follow the influencer’s recommendation on the belief that this is ‘right’ for them.
Spoyl operates on this very insight, in building interesting partnerships with niche and popular influencers alike, to create personalised content and lifestyle products that work for their unique cases. There’s an element of the personal touch in owning a product created by Kritika Khurana or Santoshi Shetty that brands with celebrity brand ambassadors just don’t get.
Does the concept of influencer marketing interest you? If you want to give influencer marketing a try as a Spoyl influencer, check out Spoyl and register yourself as an influencer with us!
