The latest edition of the India Influence report by Zefmo Media Private Limited has been released and it has some interesting insights into the Indian influencer economy in 2022. The report highlights the growing importance of hyperlocal micro-influencers and the normalization of mega-influencer fees, among other things. The report is based on a study of over 1,500 micro-influencers across 35 cities in India.
According to the report, India is expected to have over 100 million content creators across all social media platforms by 2023, making it the largest base of influencers in the world. The organized influencer marketing sector is expected to breach INR 3000 crores (USD 375 million) in FY 2023-24, with the revenue share of micro-influencers increasing from 9% in FY 2022-23 to 14% in FY 2023-24.
The report also highlights the growing importance of hyperlocal micro-influencers, who are disrupting the Indian influencer economy. Brands are tapping into the sticky engagement quotient of these influencers to further strengthen their connection with their customers. This has resulted in hyperlocal micro-influencer monetization becoming a new trend in the industry.
The India Influence Report 2022 is the first-of-its-kind study of more than 1500 micro-influencers across 35 cities who shared their views on a range of topics, including brand collaborations, choice of platform, content formats, and future plans. The report is a must-read for marketers who want to understand the influencer market in India and plan their marketing mix accordingly.
The report also sheds light on some emerging trends for 2023, which marketers may find useful in planning their marketing mix. These trends include metaverse exploration (NFTs), fractional brand ambassadorship, and hyperlocal micro-influencer monetization.
Overall, the India Influence Report 2022 provides a comprehensive understanding of the Indian influencer economy in 2022 and offers valuable insights into the trends that are likely to shape the industry in 2023 and beyond. With India expected to become the largest base of influencers in the world, this report is a must-read for marketers looking to engage with consumers in India.