Brands that rely on influencer marketing believed their key objective was brand visibility.

Influencer marketing may be a priority for brands, but most of them do not yet have tools to measure it, according to a survey that was shared exclusively with ET.

The 800 respondents in the survey by Mumbai-based social marketing firm Social Samosa and Talkwalker included digital or social media professionals, followed by marketing and communications experts, among others.

Most brands that rely on influencer marketing believed their key objective was brand visibility, followed by leads and sales. Although 72% of respondents said budgets for influencer marketing will increase in 2020, 61% said they did not have the tools to measure efforts, according to the survey.

Social media analytics, brand visibility, an influencer’s discount code which they share with referrals, are some of the ways to measure influencer impact currently.

“Influencer budgets, at an average, grow two times, and in 2020 it will become more strategic than tactical, with creative campaigns and content being built around influencers as opposed to them being an afterthought to amplify content,” said Pranay Swarup, co-founder of influencer-marketing firm Chtrbox.

“The right influencers are driving significant ROI (return on investment) by having disrupted the cost, speed and personalization at which great, influential branded content is created, distributed and consumed,” he said.

According to the survey, about 32% of respondents spend Rs 100,000-10,00,000 on influencer marketing every year, while 24% spend over Rs 10,00,000.

Brands in India mostly collaborate with 10-15 influencers, according to the survey, and they are selected mainly on creativity, engagement, followers and costs.

While Instagram is the prime channel for influencer marketing, the survey said, a major problem in India is fake followers.

India has the third largest number of bought followers in the world after the United States and Brazil.

Fake Instagram followers could cost a company about $750 million globally, while the overall market is worth $1.7 billion, the survey pointed out.

While brands were engaging more with micro-influencers who relate better with the audience, ROI-driven marketing has also started, experts said.

Brands should start leveraging influencers in multiple languages and platforms to diversify the impact. Currently, the top three channels for influencer-engagement are Instagram, Twitter and Facebook.

“While fashion, beauty, food, travel, tech and parenting already have a lot of influencers, we are seeing many other genres picking up. Even in terms of platforms, we are seeing TikTok and ShareChat influencers growing. We even have some on Telegram now,” says Vikas Chawla co-founder of Social Beat 22 Languages and

More data and measurement tools will also help in driving the market, the experts said.

Leave a Reply

Your email address will not be published. Required fields are marked *