Indian marketers are tapping into the world of influencers in favour of the Bollywood and sports stars they normally turn to for endorsement. Brands are seeing influencers as critical marketing tools according to Buzzoka’s annual Influencer Marketing Outlook 2019 report.
The research found that in 2018, Instagram (69%) was the top choice for influencer marketing among Indian companies, with 77% seeing it as a huge potential, which isn’t surprising considering the Instagram stats we have seen of recent. LinkedIn (8%) and TikTok (8%) were the second most preferred options. Buzzoka surveyed over 500 brand custodians and content creators.
The report also revealed that in 2018 most companies spent between 5% and 7% of their overall marketing budgets on online influencers. Almost three-quarters of Indian brands (73%) said they aimed to increase their spend on influencer marketing this year. Increased growth will also be attributed to new platforms pitching in the big game.
One of the main reasons for companies investing more in influencer marketing is they believe it has huge potential to drive better reach and engagement, as well as a good medium for storytelling. In a practical sense, marketers surveyed said using an influencer to market a brand is less time consuming compared to other models of advertising. In fact, influencer marketing is the fastest growing online customer acquisition method as per Indian firms, followed by organic search and paid marketing.
When looking to bring an influencer on board, the research found that content quality is the top criteria companies consider before bringing an influencer on board. Brands sited ROI and rapidly changing customer behavior as the challenges in influencer marketing, which are issues that are recurring across the board.
What’s next for influencer marketing in India? Share your thoughts in the comments section below.