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Ecommerce firms’ average spend on social-media influencers has reduced this festive season as the companies are focussing more on micro-influencers (1,000-10,000 social-media followers), three influencer marketing companies told BusinessLine.
This development comes at a time when e-commerce companies have started focussing on profitability, and the larger start-up ecosystem is going through a global funding slowdown. “In 2022, micro-influencers are expected to play a bigger role. While micro-influencers have fewer followers compared to mega and macro-influencers, their audiences tend to be more engaged and they also charge less. So, it is viable to see less money being spent on influencer deals this year compared to 2021,” Neha Puri, Founder & CEO of influencer marketing platform, Vavo Digital.
Mega-influencers (over million followers) charge somewhere between $1,000 and $2,000 for each post, whereas a micro-influencer can charge up to $100 per post. Adding to this, Shudeep Majumdar, co-founder and CEO, Zefmo Media Pvt Ltd, said: "The most visible trend this year is the focus on hyper-local micro influencers. More and more e-commerce companies are focussing on getting such influencers onboard as a result of seeking more value from them and due to their better engagement percentage."
He added that the share of influencer marketing in the overall marketing spends’ pie has been steadily going up over the past years at CAGR of about 40 per cent. Zefmo Media is an influencer marketing platform working with over 1,50,000 influencers.
Further, Amit Nagpal of Blogger Alliance, added that the market realities and global uncertainties like Ukraine war have also impacted the number of influencer marketing deals this year.
Among its influencers base, Blogger Alliance has seen 15-20 per cent less deals this year compared to 2021. This year, e-commerce firms have announced collaboration with major national and regional celebrities. Announcing its Big Billion Day sale earlier this month, Flipkart said it has partnered with big entertainment and sports stars, including Amitabh Bachchan, Alia Bhatt and MS Dhoni.
Similarly, Internet commerce unicorn Meesho has partnered with nine well-known celebrities for its festival sale such as Ranveer Singh, Deepika Padukone, Rohit Sharma, Rashmika Mandanna, Kapil Sharma, Trisha Krishnan, Karthi Sivakumar, Ram Charan and Sourav Ganguly.
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