Influencer marketing will be Rs 900 crore market in India by the end of 2021: INCA, GroupM’s Report
The influencer marketing sector is witnessing a transition as a result of the epidemic and the growing need for brands to communicate directly with customers.
The India Influencer Marketing Report was released today by INCA, GroupM's brand-safe influencer and content marketing solution arm. To be an annual highlight on the calendar, this industry research is the first to measure the current state of influencer marketing in India and to forecast its future trajectory. The research examines every facet of the sector, from trends to the impact of legislation.
In India, a third (more than 400 million) of the 1.3 billion population already had access to social media prior to the outbreak. This figure has undoubtedly increased significantly over the last 18 months, and a significant shift in consumer behaviour is driving the segment's rise.
Prasanth Kumar, CEO of GroupM South Asia, commented on the findings, "Over the last few years, businesses have demonstrated a strong interest in influencer marketing." The pandemic has expedited brands' adoption of influencer marketing, which has become a fundamental part of their marketing strategy and is now a critical component of our recommended media mix for brands. The primary aspect that has piqued businesses' interest is the relationship of trust and authenticity that influencers share with their audiences, which enables brands to use the same when partnering with an influencer. This research is an attempt to assist marketers in gaining a better understanding of the various facets of influencer marketing in the country. Consumer behaviour is evolving rapidly, and we want to arm marketers with the knowledge they need to succeed.”
According to the survey, the top four categories, which include personal care at 25%, food and beverage at 20%, fashion and jewellery at 15%, and mobile and electronics at 10%, account for 70% of influencer marketing volume. On the influencer radar, celebrities account for 27% of the total, while influencers account for 73%. Almost two-thirds of the Indian population is influenced by someone. Influencers and creative storytelling are likely to connect with brand uniqueness, a critical benefit as attention spans shorten.
“The influencer marketing sector is at a crossroads and has the potential to take off,” said Ashwin Padmanabhan, President - Partnerships and Trading at GroupM India. The 'India Influencer Marketing Report' is an attempt by GroupM and INCA to accomplish the same thing. Not only have we worked to quantify the business, but also to define and standardise the industry's different formats and terminologies. We hope this research serves as a catalyst for the industry and ensures that influencers' power is successfully harnessed!”