Everyone knows how the influencer marketing industry is growing every day in this social media era. A recent report by GroupM INCA indicates the Indian influencer marketing industry is expected to reach Rs 900 crore by the year 2021.
A compound annual growth rate (CAGR) of 25% is forecast for the market in 2025, which is expected to reach Rs 2,200 crore.
Brands have shown an increasing interest in influencer marketing over the past few years. Influencer marketing has become an integral part of brand marketing strategy since the pandemic, and we now recommend it to brands as part of our media mix recommendation, according to Prasanth Kumar, CEO, GroupM South Asia.
“The key factor that has got brands interested is the bond of trust and authenticity that influencers share with their audiences, thus helping brands associate with an influencer to leverage the same. This report is our effort to help marketers understand various aspects of influencer marketing in the country. Consumer behaviour is changing at a fast pace, and we want to empower marketers with the knowledge that can help them,” Kumar added.
Earlier this week, INCA, GroupM’s brand-safe influencer marketing and content marketing operation, published the India Influencer Market Report. This report says that personal care (25%), food and beverage (20%), fashion and jewelry (15%), and electronics and mobile 10% are the top four categories that contribute to 70% of influencer marketing sales.
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Influencer marketing expenditures are spent on celebrities only 27% of the time and 73% of the time on influencers. Nearly two-thirds of the Indian population follows an influencer.
The INCA influencer marketing survey shows that 100% of marketing leaders agree that influencer marketing is a high or top priority for their marketing calendar in 2021. According to the survey, 50% of respondents intend to increase influencer marketing spending by 25-36%.
“Influencer marketing industry is at a point of inflexion and can take off, subject to the industry initiating to measure, quantify and make investments in influencer marketing accountable. The ‘India Influencer Marketing Report’ is GroupM and INCA’s attempt to do the same,” Ashwin Padmanabhan, president, partnerships and trading, GroupM India, stated.