Plaqad.com, the social platform connecting individuals and brands to top content creators, social media influencers and publishers, today released Africa’s first ever Influencer Compensation Report. The report provides key insights into the influencer marketing industry and analyzes some of the common trends regarding the remuneration of influencers.
There has been an increasing adoption of influencer marketing by marketers looking to get their products and services in front of an already engaged audience in recent years. However, due to the unconventional nature of this form of marketing, deciding the right compensation terms has often been a very contentious topic especially as it relates to getting a positive return on investment.
Speaking on the report, Plaqad C.E.O Gbenga Sogbaike who appeared at a BBC panel at Social Media Week Lagos Tuesday, remarked on the reasoning behind the research:
“The Influencer Compensation Report provides very interesting and unique insights into how payment and remuneration for social media influencers work in Nigeria. Unlike what obtains in the US and other more advanced markets where most influencers are very much open to accepting client’s products and services in exchange for their services, Influencers in Nigeria prefer cash payments. This is just one of the many peculiarities of the Nigerian influencer marketing industry.”
“To help industry practitioners and the general public better make sense of influencer compensation, we’ve taken a deep dive to unravel the facts by compiling a detailed report. The Influencer Compensation Report will help agencies, brands and other industry stakeholders make informed decisions when engaging influencers.” He added.
Among other findings, the report also examined brand-influencer alignment. This is a major consideration for many brand managers in the consumer goods sector in working with influencers. According to the report, only 18% of influencers have worked with brands they already patronize. Most of the influencers surveyed say they would work with any brand whether or not they use the brand’s products or services.
Since its launch in 2017, Plaqad has been very active in the influencer marketing scene. The online platform has quickly become one of the biggest hubs for content creators, publishers, and social media influencers with thousands of users currently signed up on its platform.
The 2019 Influencer Compensation Report offers plenty useful insights for brands, marketers, service providers and other marketing communications industry stakeholders looking for answers to some of the biggest questions on influencer remuneration and the entire influencer marketing landscape in Nigeria.