Industry experts decode the impact of COVID-19 on influencer marketing, tracing the evolution in the outlook of brands and the content creation process.
The COVID-19 pandemic and the subsequent lockdown has brought about a flurry of changes to the way people consume content and brands look at content. There is no scope of high-production quality content or elaborate shoots. All content is being created at home with minimal equipment and resources. Something that has been inherent to influencer marketing even before the lockdown took over.
In order to better under understand The Current State of Influencer Marketing during COVID-19, Social Samosa brought together a panel of experts for a #SamosaTalks session on Facebook Live.
The panellists included: Manish Kumar, Founder & CEO, Digi Osmosis, Mike Melli, Co-Founder & CRO MissMalini Entertainment Pvt Ltd, Pranay Swarup, CEO & Founder Chtrbox, Sumedh Chaphekar, CEO, NOFILTR.GROUP and Viraj Sheth, Co-Founder, Monk Entertainment. The discussion was moderated by Hitesh Rajwani, CEO, Social Samosa Network.
The experts agreed that there has been a dip in business when it comes to advertising and marketing as well as some parts of influencer marketing.
Brands selling non-essential items and luxury products and services have been hit, the impact trickling down to advertising and marketing spends.
Limited resources a boon?
On the part of influencers, it has become more important than ever to be creative with resources and remain at the top of their game at all times. “Since influencers can’t go out or create anything ‘fancy’, they are being even more relatable and the resulting content is even more authentic,” said Chtrbox’s Pranay Swarup.
Adding to the discussion, Digi Osmosis’ Manish Kumar said celebrities, as well as influencers who are used to high production quality, are turning to create content using mobile and basic editing. This is causing a big shift in the creation process, as everyone is on the same plain now, he explained.
An aspect all experts seem to agree on was that the future looks bright for influencers and influencer marketing as things normalise for businesses.
“Brands have become very receptive to the inputs being put forth by influencers and are no longer putting across strict guidelines in regards to visuals and branding,” explained NOFLITR.GROUP’s Sumedh Chaphekar.
The top management of brands is being exposed to influencer marketing in a way like never before. With few options to reach audiences, they are willing to experiment more. This is opening up wide-ranging possibilities for influencers and the influencer marketing segment of the advertising industry.
“The COVID-19 pandemic has brought some of the straggling brands, who still rely primarily on traditional marketing formats, into the fold. We have seen a marked increase in demand and inquiries around influencer marketing, including some from brands who have never done it before,” said MissMalini Entertainment’s Mike Melli, on email, as he couldn’t attend the complete live session.
Talking about the long term impact of the way brands are approaching influencer marketing, Monk Entertainment’s Viraj Seth said that influencers, much like celebrities, are starting to get long term deals from brands. “The process of evolution in this regard has been accelerated due to the lockdown,” he added.
You can find the entire discussion here: