The consumer market has altered drastically in numerous ways as a result of COVID-19. These days, people are concerned about their health, the environment, what’s best for society, and affordability. Influencer marketing, the practice of using social media influencers to promote brands, has expanded dramatically as a result of these shifts. This is the best kind of word-of-mouth promotion, gives your business enormous awareness, and enables you to develop a trustworthy opinion that individuals will pay heed to.
A wealth of product knowledge, insights, comparisons, reviews and free trials is available online. Before making a purchasing choice, consumers often take their time studying various product categories, brands, and services. Today’s consumers seek out online content, relate to authentic messages, and want to engage with companies.
Govt setting guidelines
And for the purpose of allegedly protecting consumers from sponsored advertisements, the central government will probably develop standards for social media influencers. After some significant discussions, the Department of Consumer Affairs will likely release its rules on social media influencers, requiring them to disclose the precise nature of their relationship with the companies they promote.
This would increase transparency and prevent consumers from being duped by brand advertisements. Those who monitor the business are hoping that the standards would not only assist regulate it but also help customers make better purchasing decisions.
In order to control social media influencers, the government plans to enact regulations that may subject them to fines of up to 50 lakh for failing to reveal financial relationships to companies. Similar recommendations were released by the Advertising Standards Council of India, which mandated that all digital influencers clearly label any promotional content they publish and conduct enough research into any online associations they make with goods or services. Consumers significantly rely on reviews placed on platforms to see the opinions and experiences of users who have already purchased the product or service because e-commerce entails a virtual shopping experience without any opportunity to inspect or study the goods physically.
What do influencers have to say?
Pushppal Singh Bhatia and Ravneet Kaur, who run THAT COUPLE THOUGH, say “Influencers will have to bear extra legal costs as a result of provisions requiring truthfulness in statements, proper research, and prerequisites for expert recommendations. Micro-influencers in particular could overreact since they lack the financial means to defend themselves in court. This can lead to short-term expansion in the digital world of influencer marketing”
From a consumer point of view, it reflects transparency throughout all of the marketing and brand promotion. Social media has been the target of several frauds, and many individuals have fallen for them. It will raise customer awareness and aid in the fight against fake brands. Although even the authors of ads are frequently asked to reshoot their work before they are happy enough to upload it. They just worry about views and likes, disregarding the post’s integrity.
Brands will now have to be more cautious about their products as they will be strictly monitored. It’s time to reconsider what motivates a purchase and concentrate on developing a complete digital journey that arouses the feelings related to making a purchase.