The social media influencers in India will now have to provide specific details in their promotional posts according to the guidelines to be issued by the Advertising Standards Council of India.
As of now, ASCI has issued draft guidelines for all the influencers of digital platforms. These will be finalized by the end of March. Post that, all influencers have to disclose in the posts whether the content published by them is an advertisement or not.
Industry experts have given their opinions on the new rules to be formed. Clan Connect, one of the influencer marketing platform’s Co-Founder, Kunal Kishore Sinha says that
these new guidelines by ASCI will bring forth new opportunities for the fast-evolving
segment and will lead to positive outcomes in this sector in the long run.
The influencer marketing industry sees a huge growth potential and as per the research of Influencer Marketing Hub, the industry is set to grow to $9.7 billion by the year-end. Moreover, Statista reported that the ad spending in the social media advertising segment is projected to reach $863 million in 2021. It further states that the ad spending in India will grow at a CAGR of 5.79 percent, reaching a market volume of $1,081 million by 2025.
These new rules will be beneficial not only for the digital audience but also for the end consumers as they will be able to differentiate between authentic appreciation for products and services and the paid promotions. This will lead to more transparency in the voice of opinion and will keep away misleading information and false practices, giving people a better online experience of making purchase decisions.
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