Influencer marketing industry to grow at CAGR of 25% for next 5 years: e4m-INCA report

INCA, GroupM’s brand-safe influencer and content marketing solution unit, and exchange4media Group have unveiled the much-awaited INCA-e4m Influencer Marketing Report 2022. This industry report is the first ever to quantify the current, and predict the future of influencer marketing in India. The INCA-e4m Influencer Marketing Report 2022 covers all aspects of the industry, including trends and the impact of regulations.

Influencer Marketing (IM) continues to grow at a rapid pace, reaching a value of $16bn globally in 2022. The phenomenal growth is being driven by advertisers recognising the power of working with trusted creators to reach their target audiences. According to the INCA-e4m Influencer Marketing Report 2022, the Influencer Marketing Industry is currently valued at Rs 1,275 crore, and will grow at a CAGR of 25% in the next 5 years, with a billion-dollar market in India alone.

The report states that nano, micro and macro-influencers are key to building and sustaining a brand and are considered more credible than celebrities by consumers, while digital trust and authenticity are key variables in ensuring Influencer Credibility in the eyes of the consumers. Moreover, regulations and compliance will continue to play a central role in influencer marketing, and brands are cognizant of adhering to ASCI guidelines when rolling out content.

With the growing data penetration in India, brands now want to connect with consumers directly. Consumers today have an immense amount of choice and are digitally active participants across Tier 1 and Tier 2 cities and towns, the report said. The report further states that in India, it is estimated that over two-thirds of the digitally active population follow an influencer with a large number of this digitally active population relying heavily on nano, micro and macro influencers to help make choices that best resonate with them.

The report further added that the top 4 categories of Food and Beverage (20%), Personal Care (25%), Mobile and Electronics (10%), Fashion & Jewellery (15%) contribute 70% volume of influencer marketing. Social media continues to be the theatre in which influencers ply their trade and help brands communicate with their customers as they benefit from directional insights provided by trusted third parties, the report says.

The findings further reveal that influencers are more trusted than celebrities across the board by consumers and there is more willingness to try a product on the basis of influencer recommendation vis-a-vis celebrity recommendation.

Diving deep into understanding the impact of influencer marketing on consumers, the report states that one in four consumers in the digital space is reached by influencers with the trend set to move upwards in the coming years. Food, Fashion and Lifestyle are the consumer sectors that respond most effectively, and Instagram, YouTube and Facebook remain the top choice for consumers to interact with and buy from brands. While consumers across all age groups rely on influencers, those in the age group of 45-55 have a higher propensity to purchase on the basis of influencer recommendations.

Giving insights about digital trends, the report said SFV and live streaming create maximum end-user impact, while metaverse is gaining traction and acceptability as trends of the future, a view endorsed by over 35% of survey respondents. Also, IG Reels has turned out to be the most sought-after format for most of the respondents.

GroupM with its INCA platform has tracked campaigns executed by brand and influencer categories. INCA is the only data-driven; outcome (ROI) based influencer solution in India.

The event is co-powered by influencer marketing platform AnyTag, while Radio City is the Co-partner. Later in the day, the Impact Digital Influencer Awards 2022 will be announced to celebrate brands, agencies and individuals who are driving great influencer-driven content.

Click on the link below to read the report.

https://e4mevents.com/Impact-Digital-Influencer-Awards-2022