Influencer marketing to hit US$4.8 million, Obia advocates tailored strategies for sustained effectiveness

By Zion Rufus

The creator economy is projected to reach half a trillion dollars by 2027, marking remarkable growth, as stated by Goldman Sachs Research.

This expansion is evident in the 15.9% anticipated increase in influencer marketing spend in 2024, emphasizing its widespread recognition across industries and its impact on every sector.

The internet’s pervasive reach and social media’s influence are transforming daily life, establishing influencer marketing as a vital global business component. This personalized, ROI-driven approach connects brands with potential customers globally, shaping audience opinions and impacting purchasing decisions through social media influencers with dedicated followings.

In Nigeria, influencer marketing has gained significant traction, projected to reach US$4.8 million in 2024, reflecting an annual growth rate (CAGR 2024-2028) of 8.86%.

To ensure sustained influencer effectiveness, Emeka Obia, Integrated Strategy Director at Publicis Groupe, stresses the importance of authentic partnerships through tailored strategies.

“Brands should collaborate with influencers whose values align with their own, creating an authentic resonance with their audience,” he explained, advocating for the cultivation of potential long-term relationships that allow for authentic content creation and brand representation, empowering influencers to resonate with their audience while staying true to their style.

Charting a broader perspective, Obia highlighted the importance of measuring the effectiveness of influencer partnerships using metrics such as engagement and reach.

This analytical approach, he argued, is essential for future optimization and achieving a favorable return on investment (ROI).

Measuring the effectiveness of influencer partnerships through metrics like engagement and reach is crucial for future optimization and return on investment (ROI).

These metrics provide valuable insights into the impact of influencer collaborations on the target audience. Engagement metrics, such as likes, comments, and shares, gauge the depth of audience interaction, indicating the resonance of the content.

Reach metrics quantify the extent of the influencer’s audience exposure, shedding light on the campaign’s overall visibility. Analyzing these data points enables brands to refine and optimize their influencer strategies for increased effectiveness. Moreover, a comprehensive understanding of engagement and reach allows for strategic adjustments, ensuring that future collaborations align with audience preferences.