Increased spends on influencer marketing: Budgets allocated to influencer marketing grew significantly in 2020, as compared to 2019. 39.13% of marketers mentioned an increase in spends on influencer marketing, while the other 60.87% saw no change in spends between 2019 and 2020. More than 50% of the respondents increased their marketing spends in 2020 vis-à-vis 2019. As influencer marketing gained prominence, 58.70% of CMOs have allocated separate budgets for influencer activities in their 2021 marketing plans and 52.17% have decided to increase spends in 2021, as compared to 2020. Almost 90% of marketers are planning to allocate 25% of their entire marketing budget towards influencer-led activities in the current year, with over 50% of the respondents interested in increasing budgets by up to 25% in 2021.
Over 50% of marketers set to increase influencer marketing spends in 2021
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As pere a latest report from ClanConnect.ai, the Indian AI-driven influencer marketing platform, 78% of marketing leaders leveraged influencer marketing in 2020, while a little over 13% of them initiated influencer activity for the first time in 2020.
As influencer marketing has assumed a mainstream stature, 58.70% of CMOs are allocating separate budgets for influencer activities in their 2021 marketing plans.
Influencer activity growing exponentially in India as brands are looking at solidifying their online presence during the COVID-19 outbreak.
As pere a latest report from ClanConnect.ai, the Indian AI-driven influencer marketing platform, 78% of marketing leaders leveraged influencer marketing in 2020, while a little over 13% of them initiated influencer activity for the first time in 2020.
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Industry players react to ASCI guidelines for influencer advertising
ASCI aims to finalise the guidelines by the end of March. Social media influencers will be required to specify whether the content posted or published by them is an advertisement.
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Earlier this week, the Advertising Standards Council of India (ASCI) released draft guidelines for influencer advertising on digital platforms. It further stated that the body aims to finalise the guidelines by end of March. Social media influencers are expected to receive new set of guidelines with respect to promotional posts, and they will be required to specify whether the content posted or published by them is an advertisement.
It has become important to understand the peculiarities of the advertisements and the way consumers view them, says the Advertising Standards Council of India (ASCI).