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The social media influencer business is not one to be taken lightly today – they are known to make and break trends. Many companies have tapped into the potential of social media influencers to market their products and services in a much cheaper and faster way.
In today’s digital-driven world, there are several influencer marketing organisations that are supported by technology, particularly those powered by new-age technologies such as AI, ML, and so on, that help brands improve and map their campaign ROI quickly and smoothly.
Founded in 2020 by Ishan Jindal, Wobb helps connect stakeholders in the content creation ecosystem. It handles hiring, execution, and post-campaign processes for brands. On the other end, Wobb helps influencers by taking care of the business side of things, freeing their time for creative work.
Social media influencers who receive gifts to promote brands, will be taxed at 10%. According to the new tax rules, influencers and doctors will have to disclose free samples and gifts given to them for sales and promotional purposes, while filing their taxes.
“Nano influencers are probably the largest pool of influencers contributing as much as 20% to the influencer universe,” says Kunal Sawant, Business Head, INCA India, GroupM, WPP, Content and Influencer Marketing. This clearly shows every fifth influencer in India is a nano influencer now.
A flip side of influencers marketing also seems to be emerging. Allegations are surfacing that brands are using influencers to not just to mould their better image, but to pull down their competitor too. As with any industry, there are a few bad apples here too. For such agencies, it is just another service they offer to brands for money. SoftBank and Meta-backed e-commerce startup Meesho recently got a taste of it.