International Marketing and PR Tech startup, Plaqad has launched the second edition of its influencer compensation report. The report, which was announced at a virtual launch on Saturday, August 29, 2020, is Sub-Saharan Africa’s first and only report focused exclusively on researching and sharing insights on the workings of Nigerian Influencers remuneration in Africa’s largest economy.
This year’s edition of the report features data and insights from more than 10,000 influencers, marketers and consumers exploring in detail topics ranging from influencer remuneration structure, products compensation, influencer marketing ROI, consumer perception, fraud in influencer marketing and more.
According to the report, more than eighty per cent of influencers surveyed prefer monetary compensation as against receiving products as compensation. Of the influencers who opted for products, 16% of influencers say they will only accept products or services from luxury brands only.
Speaking at the launch, Gbenga Sogabike, CEO, Plaqad Limited said:
“The Influencer Compensation Report 2020 is the most robust piece of research on the topic of influencer compensation. This year, we surveyed more than 10,000 respondents encompassing all stakeholders, from consumers to brands, agencies to influencers.”
“The report will undoubtedly help industry stakeholders and the general public make better sense of how payment and compensation work in the influencer marketing industry in Africa’s largest economy.”
Founded in 2017 as “a social network connecting brands and individuals to bloggers, news websites, publishers, and social media influencers”, the Plaqad, in June, launched SocialCred, Africa’s first-ever social media influence ranking app.
Beyond its cool factor, SocialCred serves an important function of helping brands assess and select influencers based on their influence quotient across Instagram, Twitter and Youtube.
Influencer marketing has seen significant growth in recent years with the rise of digital innovation, ad-blocking technologies and even more importantly the compelling need for brands to connect with consumers in a deeper, more authentic and relatable way.
With the COVID-19 pandemic necessitating prolonged social distancing and lockdown measures across the globe, traditional means of marketing like events, out-of-home and newspapers have suffered setbacks as consumer behaviour continues to change. Companies like Plaqad are at the forefront of leveraging digital media technology in helping marketers, influencers, brands and the government navigate the new reality.
The Financial Times predicts that the value of the global influencer market will reach $15 billion by 2022.
In three years, Plaqad successfully onboarded over 15,000 influencers, creators, and publishers successfully placed over 25,000 pieces of content on social and web platforms across four continents, and directly paid out over 200 million naira ($570,000) on hundreds of campaigns to creators, effectively helping its programme members monetise their content, platform and influence.
Today, Plaqad sits at the intersection of technology, marketing, and PR helping top brands seamlessly connect with their target audience by providing them with the people, platforms, and tools they need to succeed.