MUMBAI: Integrated influencer marketing platform Buzzoka has released the second edition of its annual ‘Influencer Marketing Outlook’ series. As per the survey, which was conducted with over 500 brands and content creators, Instagram is the primary choice of brands for influencer marketing.

The report that tries to provide a provide holistic understanding of influencer marketing ecosystem in India highlights that 69 per cent of brands spend $ 50,000 per year on influencer campaigns, while 27 per cent go ahead to spend $ 1,00,000 per year. Out of these, 77 per cent brands see huge potential in Instagram as the primary choice for influencer marketing, followed by Facebook at 54 per cent.

The report also forecasted a market potential for 2019 predicting that top three platforms for influencer marketing will be Instagram (69 per cent), LinkedIn (8 per cent) and TikTok (8 per cent). The increased growth in influencer marketing and successes in 2018 has inspired the brands to spend more on influencer marketing. 73 per cent brands will thus be investing more.

Buzzoka co-founder Ashutosh Harbola said, "We are glad to unveil the second annual report highlighting the substantial facts that are driving the market growth. Influencer marketing has never been more important with the years passing by. The consumers continue to trust word of mouth versus other forms of marketing.” 

He further stated, “Being a key player in the industry, backed by the passionate team of experts, we are really optimistic that influencer marketing has the potential to grow manifolds in the coming years. Also, we are gung-ho on the inclusion of commoners in the gambit of influencer marketing and hope a billion dollar industry is waiting in India to be explored.”