It has been almost a year since COVID-19 struck, forcing countries to shut their borders and lock its people into their homes. What began as a health crisis has now turned into an economic one. World Bank forecasts a 5.2 percent contraction in global GDP in 2020 due to the pandemic. As is true with every crisis, this crisis, too, presents an opportunity for businesses with a strong digital backbone. With terms like “work from home” and “social distancing” going mainstream, and person-to-person interactions becoming increasingly rare, businesses changing course to adopt digital strategies are likely to fare well. It is in this context that digital marketing gains salience. This piece focuses on one such aspect of Digital Marketing — Influencer Marketing. According to Influencer Marketing Hub, the ROI for every dollar spent on IM in 2020 is $5.78. Its importance is validated by the fact that the global market size of Influencer Market is set to grow from USD 5.5 billion in 2019 to USD 22.3 billion by 2024. Naturally, businesses today can ill afford to ignore influencers. Given below are some points to consider when collaborating with an influencer.
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