Currently, India is the second biggest market for Instagram with 73 million users, after the US which has as many as 116 million users
Cricketer Virat Kohli recently became the first Indian with 50 million followers on Instagram, followed by Priyanka Chopra who has as many as 49.9 million followers.
More followers for these celebrities mean more reach, which translates to nothing but good news for brands.
Instagram is the most preferred platform for marketers when it comes to influencer marketing, and celebrities form a significant part of this group.
There has been huge rise in marketing budgets that are being allocated to influencer marketing in the last few years, according to a 2019 report by Buzzoka.
According to the survey, which covered 237 brand custodians, the usage of Instagram is one of the highest, with 94 percent marketers preferring it as a medium.
When it comes to celebrities on Instagram, brands pay anywhere between Rs 1 lakh to Rs 25 lakh for a single post. However, Apaksh Gupta, Founder, One Impression, an influencer marketing and branded content solutions company, said that single post contracts are rare for big celebrities.
“For A-list celebrities, brands usually opt for multiple post deals. I have seen dealings of Rs 40 lakh a year, which can go up to Rs 12-14 crore for a year for A-list celebrities,” he said.
Instagrammers follow celebrity influencers. The content, recommendations and brand collaborations that these influencers engage in have a positive effect on the users. This increases the likelihood of users' participation in contests and making product purchases.
A survey by WatConsult found out that more than 75 percent of the shoppers have had satisfactory experience while shopping from Instagram and a majority are likely to shop in the future.
The survey was conducted between June- August 2019, among a sample size of 1,917 respondents.
According to the survey, 63 percent of the users are influenced by the platform, resulting in higher likelihood to shop via Instagram.
“Facebook has become more commoditized. You don’t see many influencer campaigns on Facebook. It is more on Instagram or Twitter, and now TikTok is picking up pace. The high-flying brands will always put money on Instagram.
"The age group of 24 to 35 which has more money to spend is on Instagram. The urban youth gets its dose of content from Instagram. Hence, the platform is the most important medium for influencer marketing and for brands to put their money in. Brands, which put in a lot of money in marketing are typically fashion and lifestyle, and a majority of them prefer Instagram, said Ashutosh Harbola, CEO and Co-founder, Buzzoka.
According to the WatConsult report, Instagram has as many as 117.1 million monthly active users in India. Average time spent on the platform per user is 45 minutes.
Recent reports have suggested that Instagram is planning to launch a 'shop tab' in India. If that happens, the platform will only gain more traction in the country.
Currently, India is the second biggest market for Instagram with 73 million users, after the US which has as many as 116 million users, as of October 2019.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
