According to a recent survey, the results of which were released on Thursday, social media platforms Instagram, TikTok and YouTube are expected to be the top three choices for influencer marketing in 2020.
Currently, the focus of influencer marketing is on Hindi and English content, but marketers are of the belief that there is a growing demand for vernacular content, as per the survey which was conducted by by influencer marketing company Buzzoka.
"The world of influencer marketing is evolving faster than we could ever imagine. Today's strategy is tomorrow's tactic in this new world," Ashutosh Harbola, Co-Founder, Buzzoka said in a statement.
The surveyed invloved over 237 "Brand Custodians" in the month of December 2019. The brand custodians included agency, marketers and other people associated with brands across the Indian marketing ecosystem.
"We believe that the key for future brand custodians will be not to follow any set template for their influencer marketing campaigns but keep discovering what more each partnership can offer," Harbola said.
Instagram led as the primary choice of brands in 2019 and 82 per cent brands saw it as the primary choice, the research showed.
According to the study, 64 per cent brands spend less than $100,000 per year on influencer campaigns. However, 18 per cent brands went above $1,000,000 per year.
While 43.8 per cent brand custodians believe that influencer marketing helps in generating word of mouth, another 31.2 per cent consider it a good way for subtle brand placement.