Buzzoka, India’s leading influencer marketing company has launched the 3rd Edition of Influencer Marketing Outlook. The annual survey offers a comprehensive look at today’s influencer marketing landscape and its impact on consumer-facing brand communication and marketing, as viewed by brands, agencies and startups across India.
Buzzoka’s survey has been an important knowledge base for marketers across the globe wanting to explore the Indian Influencer Marketing ecosystem.
Link to the Complete Survey: http://bit.ly/InfluencerMarketingOutlook2020
Key Highlights of 2019
Instagram leads as the primary choice of brands in 2019 and 82% brands saw it as the primary choice. This is followed by YouTube at 41%.
64% brands spend less than $100,000 per year on influencer campaigns. However, 18% brands went above $1,000,000 per year.
76% brand custodians feel that influencer marketing has ironed its position in the digital marketing mix.
43.8% percent brand custodians believe that influencer marketing helps in generating word of mouth. Another 31.2% consider it a good way for subtle brand placement.
45% brand custodians use a combination of metrics such as reach or follower base, content quality, engagement, past brand associations, and cost of engagement while finalizing the influencers for a campaign.
Forecast for 2020: Market Potential
According to the brand custodians top three platform in 2020 for Influencer Marketing will be Instagram (94%), TikTok (52%) and YouTube (52%).
80% brands are planning to spend more on influencer marketing. This is because of the high business impact of their past campaigns.
Brands consider content control, influencer discovery, and finding new ways to work with influencers as their top three challenges in 2020.
Ashutosh Harbola, Co-Founder Buzzoka said, “The world of influencer marketing is evolving faster than we could ever imagine. Today’s strategy is tomorrow’s tactic in this new world. We are glad to unveil our third annual survey that provides some unique insights about influencer marketing industry in India. We believe that the key for future brand custodians will be not to follow any set template for their influencer marketing campaigns but keep discovering what more each partnership can offer.” He further stated, “Being a key player in the industry, backed by the passionate team of experts, Buzzoka serves as an integrated platform to effectively cater to the need of the brands.”
Buzzoka, which came into existence in July 2017, has been working with leading brands and conglomerates and the work has been commendable. Interestingly, Buzzoka has been a disruption in the Influencer Marketing space with creative thought process and unparalleled ROI metrics. The unique combination of Celebrities, Influencers and Commoners is a huge advantage that Buzzoka has over other agencies and platforms in the influencer gambit.