Key Points
Roughly 40% to 57% brands in categories like FMCG, ecommerce, and automobile are expected to increase spending on influencer marketing by 10% by 2026.AgenciesRepresentative Image..
The report was "based on an EY survey of 2,053 respondents, including 86 brands, 556 creators, and 1,411 other industry professionals," said Amiya Swarup, partner, marketing advisory, EY India...
However, "as volatile times push marketers to spend on more sure-footed channels that deliver on return on investment, brands will move away from metrics like cost per impression and engagement and link their influencer marketing initiatives with sales conversion," said Devarajan Iyer, executive director & CEO, Lifestyle International..
Even as the number of followers is still the basis of classification of creators, their engagement rate and the quality of target audience emerged as the top criteria for brands to select influencers, as per the report..
RoI on influencer campaigns came up as the top challenge facing brands, while building and growing a loyal audience remains the top challenge for content creators, the report further added...
