18 Nov 2022
The barter system is the old business practice. In this system there is an exchange of goods and services not the payment in terms of money. The nature of trend, taste and innovation is dynamic and often we experience the return of the trends. In order to attract the influencers for promotion of the brand this barter collaboration is useful as the funding is not required.
The impact can be put under question but for sure it is not going to be futile exercise. The proposal to the influencers may or may not attract but there is no guarantee for the success of a trial and so we cannot stop the trials. This strategy if yielding to a little result is worth experimenting.
The Number of influencers is on hike and the estimated active influencer marketers in India are more than 50K.This benefits the new influencers as they get an opportunity to promote brand as well as the incentive is in the form of exchange of services or goods rather than the direct revenue generation. The influencers can use these freebies to pass on to their trusted clientage which motivates them as well as increases the reach of the brand.
Few established influencers may think it as futile exercise as they are focused for direct revenue generation. The startups have a budget limitation so for these startups it is a bonus promotion of the brand in tandem with paid promotion. The acceptance by influencer depends upon mind set and the value attached to the product and services on offer under Barter.
Instagram fashion influencers are most effective and popular among young generation. These influencers have good number of followers. It is important to select the right influencer but at the same time the challenge is the acceptance for Barter Collaboration by the influencer.
The enterprises with budget constraints and looking for the influencer with Barter collaboration must understand it clearly that the influencer will take up the assignment not on priority as the priority will be with the paid campaign. Still in addition to the paid campaigns the brand promotion thus achieved by Barter agreement of any quantum is a bonus.
The influencer has to decide about the accepting and rejecting the Barter Collaboration depending upon the number of followers. Once the influencer has significant number of followers the influencer can demand for the product or service of his/ her liking in exchange under Barter Collaboration.
In the deal the influencer must be familiar with the taste and likings of the followers as the non relevant brand promotion may adversely affect the image of influencer among the followers. So with the certain caution and right selection by both the parties the Barter Collaboration is beneficial for both.
As a Digital marketing company Cosmocrat Software Solution make judicious use of different channels expected to yield cost effective results for brand promotion.