The Indian government's recent decision to make it mandatory for social media influencers to disclose their "material" interest in endorsing products and services is a step towards ensuring safety for Indian consumers. The move aims to prevent influencers from falsely endorsing products and services, which can mislead consumers and ultimately cause harm.
One of the main reasons why this move is necessary is that many social media influencers have a significant following and their recommendations can have a significant impact on consumer purchasing decisions. However, without proper disclosure of their financial interests, influencers may be incentivized to promote products and services that are not in the best interest of consumers. By requiring influencers to disclose their financial interests, consumers will be better equipped to make informed decisions about the products and services they purchase.
Additionally, strict legal action, including a ban on endorsements, for violators will act as a deterrent for those who may be tempted to deceive consumers for financial gain. It will also hold influencers accountable for their actions, which in turn will increase the trust of consumers in the products and services that are being endorsed.
Moreover, this step will also level the playing field for small and medium-sized businesses, which may not have the resources to pay for celebrity endorsements. It will give an equal opportunity for small businesses to showcase their products and services, which will ultimately benefit consumers.
However, it's worth noting that imposing laws on social media influencers alone may not be enough to ensure safety for Indian consumers. Consumers must also be educated and made aware of their rights and how to identify false endorsements. Additionally, the government must also ensure that there is proper enforcement of these laws so that violators are held accountable for their actions.
Secondly, as we are aware the practice of paid PR, which most of the brands keep in their annual brand plan, is nothing but an indirect promotion, where the risk of manipulation is much more than social media influence. There are rules and regulations. set by government, but do PR firms or marketers follow them. I doubt. Consumers take those PR stories as part of other news. Real or fake is secondary, but the point is most of the time they are published as news, without mentioning 'advertorial'. The same thing happens with social media posts of news portals or news journals or some pages, and we know how tactfully these pages are getting used by politicians and Bollywood stars for their image makeover. They work like a slow poison, you won't even understand when you would start believing in those contents and build your perception based on the objective of those PR drives.
Another important channel of communication is in-film promotion, which is again, not a direct advertisement, so there would be a chance of getting influenced.
In conclusion, the government's decision to make it mandatory for social media influencers to disclose their "material" interest in endorsing products and services is a step in the right direction towards ensuring safety for Indian consumers. It will definitely help consumers make informed decisions and prevent influencers from falsely endorsing products and services. However, it must be implemented along with other measures to ensure its effectiveness and has to be consistent throughout all the channels of brand communication, which may not be practically possible. Most importantly, consumers have to be self-regulated while consuming any content on any media.
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