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Influencer marketing delivered up to 11-fold return on investment (ROI) for brands during last year’s festive season.
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Brands increased their influencer marketing budget by 21% this year, following last year’s success.
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Nano influencers achieved a 9.68% engagement rate in the fashion category, outperforming traditional advertising.
As the festive season approaches, brands are turning to influencers to drive sales and engagement. Following last year’s successful campaigns, brands have increased their influencer marketing budget by 21%. According to Qoruz’s analysis, influencer marketing delivered up to 11-fold ROI during the previous festive season.
Influencers played a crucial role in enhancing brand visibility and consumer engagement, with over 22,000 influencers creating 67,000 posts that engaged 80% of Diwali shoppers. Millennials were 1.5 times more likely to engage with influencer campaigns. Fashion brands like Myntra, Flipkart, and Biba partnered with thousands of influencers, achieving significant engagement rates. Amazon registered the highest engagement rate of 2.85%, followed by Libas and Myntra.
The analysis highlights the effectiveness of nano influencers, who achieved a 9.68% engagement rate in the fashion category. Food influencers from tier 2 and 3 cities also outperformed those from tier 1 cities. With 66% of online shoppers trusting influencer recommendations over traditional ads, brands are prioritizing influencer marketing this festive season.
