Social media and influencer marketing in 2024: What’s hot and what’s not 

In this episode of the State of the Economy Podcast, Chitra Narayanan talks about the sphere of social media marketing with Shiv Shivakumar, operating partner at Advent International, and Vikas Chawla, co-founder of Social Beat.The guests share their insights on the trajectory of social media marketing, especially in the wake of Google’s pledge to phase out third-party cookies from Chrome, a move poised to reshape the digital advertising landscape. What sets social media apart as the preferred channel for Chief Marketing Officers (CMOs) in the coming years? How has the paradigm shifted from traditional marketing models to a focus on influencing the path to purchase?  Shiv Shivakumar breaks down the essence of social media marketing, emphasising its real-time engagement and the constant need to stay relevant in a rapidly changing landscape. Vikas Chawla adds his perspective, highlighting the surge in social media usage, particularly among India’s half a billion active users.The discussion takes one through the challenges of maintaining authenticity amidst the rise of short-form video content and the impact of consumer rebellion in the social space.  With the rebranding of Twitter as “X” and the launch of Meta’s Threads, Vikas Chawla talks about which channel might dominate in 2024.  The podcast also explores the commoditisation of social media and the emergence of a rebellious streak among consumers, leading to trolling and abusive posts. Shiv Shivakumar sheds light on the psychological aspects that drive such behaviour, emphasising the need for brands and marketers to navigate this delicate terrain. A case in point is the row over the Maldives—how a remark on social media has led to a flashpoint between India and the Maldives and impacted the travel industry.The podcast concludes with the advantages of digital-first brands in the realm of social media and influencer marketing in 2024.Host: Chitra Narayanan.Producers: Siddharth Mathew, Renil S Varghese—–About the State of the Economy podcast India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups SHARE
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