By 2020, the Instagram influencer industry is projected to become a $5 billion to $10 billion market. Studying the trends of over 12 million influencers on Instagram, a new report from Socialbakers titled Must Know Influencer Marketing Trends Report for 2019 reveals that Instagram influencer-sponsored posts grew by 189% in Asia from 2018 to 2019.
Micro-influencers make up the majority, accounting for over 80% of Instagram influencers in Asia. From Q1 2018 to Q1 2019 the brand that received the most influencer mentions in Southeast Asia was Daniel Wellington, with more than 1,500 mentions by 558 Instagram influencers, according to data produced by Socialbakers.
Similar to the private market place (PMP) model initiated by multiple programmatic agencies and business units, public relations firms in Asia have initiated Instagram influencer marketing networks in an effort to sell the tactic and vet audience metrics for advertisers.
“Southeast Asia is the next big region for digital and influencer marketing,” said Natalie Chua, Director Digital and Social Strategy at Redhill. “Today, 58 percent of Southeast Asia’s 635 million population are online and over half of them are active social media users; making it the world’s third-largest for monthly social media usage.”
According to an Admap article by Ida Siow, Head of Planning at JWT Singapore and Southeast Asia, Instagram influencer marketing exploded in Asia off the back of youthful demographics, high smartphone penetrations and the spread of social platforms. She said that advertisers have been seduced by the promise of reach and affinity at a lower cost.
Instagram influencer revenue growth factors
2nd April 2019: AnyMind Group acquired Moindy and gained access to over 35,000 micro and macro influencers in 17 APAC markets, boasting a combined 180 million followers across social media.
8th April 2019: Singapore-based PR firm Redhill launched an analytics platform of influencers, adding them to the range of tactics for ongoing PR strategies and thereby endorsing the tactic as one that has merit. On the backend, influencer platforms act as agents for influencers, taking a slice of the revenue generated.
25th April 2019: Gushcloud Marketing Group launched Ribbit, a new micro influencer network, in order to provide advertiser and agency partners with reach out to a niche audience.
26th April 2019: Vietnam based Hiip became the largest supply-side platform (SSP) for influencers last month by acquiring BP Network, effectively gaining access to over 100,000 opinion leaders.