Instagram and Tik-Tok to emerge as the top platforms for influencer marketing in 2020: Buzzoka Report
Buzzoka has launched the 3rd Edition of Influencer Marketing Outlook. The annual survey offers a 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.
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.”
Download the complete survey.