Influencer Marketing Sector in Russia Doubles Since Onset of Pandemic

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The influencer marketing business has more than quadrupled in Russia since the beginning of the epidemic and may be worth more than 18 billion rubles ($259 million). This increase may be ascribed in part to coronavirus-related limitations on offline purchases, as well as the overall rise of social media commerce, Vedomosti writes. Analysts believe that the active development of advertising capabilities on specialized platforms contributes to this occurrence.

“By the end of 2021, we anticipate that the influencer marketing industry will more than double that of 2019 – up to 16.5-18.5 billion rubles,” Anton Petukhov, Chairman of IAB Russia’s Influencer Marketing committee said. He stated that, in contrast to 2020 projections, the market would rise by 50-70 percent.

According to Deloitte’s Director of Media & Advertising Risk Services Violeta Rodionova, social networks are one of the primary sources of fresh information for consumers under the age of 40. This channel even outperforms live communication for young individuals under the age of 19.

Leyla Salieva, marketing director for Epicstars, a company that provides marketers with a network of thousands of bloggers for advertising, says that  large sums of money have flooded into the digital market. One explanation for this was the active growth of new firm sectors in the middle of the epidemic, such as online education and food delivery services, where advertising costs with bloggers and influencers may account for up to a third of the entire beginning marketing budget.

According to the expert, the typical cost of integration with bloggers with 10-15 million readers is roughly 400,000 rubles ($5,756). The cost for influencers with more than one million members might be over 150,000 rubles ($2,159).