Union Budget 2024: What the Influencer Marketing Industry Expects – Insights from Mr. Praanesh, CEO and Co-Founder of Qoruz
Key Projections for Influencer Marketing Landscape Amidst Budgetary Changes
As the nation awaits the unveiling of Union Budget 2024, the digital marketing industry holds its breath, eager to discern the potential implications and opportunities that may emerge. Mr. Praanesh, CEO and Co-Founder of Qoruz, shares his insights and expectations, shedding light on what the industry foresees in this focal fiscal plan.
Forecasting Fiscal Fortunes: Pre-Budget Perspectives and Insights from Industry Leaders
Anticipated Developments:
Digital Advertising Boost:
With the continued growth of digital platforms, the industry foresees provisions aimed at fostering the digital advertising space. Incentives or policies encouraging increased investment in online promotional activities are expected, aligning with the influencer marketing ecosystem.
Support for SME Collaborations:
Recognizing the vital role played by small and medium-sized enterprises (SMEs), expectations include measures to support and empower these businesses. Tailored incentives could spur growth and collaboration within the influencer marketing sector.
Data Privacy and Security Regulations:
In an era where data privacy is paramount, Mr. Praanesh looks forward to potential regulations or guidelines addressing data security concerns. Clear directives in this domain could contribute to a more secure and transparent influencer marketing landscape.
Investments in Technology and Analytics:
As technology continues to evolve, there is hope for budget allocations fostering innovation in digital marketing. Investments in advanced analytics and technology-driven tools could empower marketers to make data-driven decisions and enhance campaign efficacy.
Inclusion and Representation of Digital Marketing Industry in Policy Making:
Recognizing the growing significance of the influencer marketing landscape, the industry emphasizes the need for representation in policy making. Inclusion in budgetary considerations could lead to more informed and supportive policies, fostering a conducive environment for the influencer marketing sector to thrive.
Streamlining of Taxes and Duties:
Anticipation is high for measures aimed at the rationalization of taxes and duties. A more streamlined and reasonable tax structure could alleviate financial burdens, enabling influencers and brands to allocate resources more efficiently and stimulate economic growth within the sector.
Impact on Influencer Marketing:
The interconnected nature of budgetary decisions with the digital marketing landscape is highlighted. A favorable budget could spark increased collaboration between brands and influencers, boosting the industry’s contribution to the broader economy.
Qoruz’s Readiness:
Aligned with industry expectations, Qoruz remains committed to adapting and innovating. The platform stands ready to support brands and influencers in navigating any shifts or opportunities that may arise post the budget announcement.
As the Union Budget 2024 unfolds, the digital marketing industry stands at the threshold of potential transformation. Insights from Qoruz leadership offer a glimpse into the expectations and aspirations of a dynamic sector, ready to evolve in tandem with the economic landscape. Qoruz, under its leadership, continues to be a strategic partner, prepared to navigate and harness the opportunities that may emerge post-budget.
