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‘Booming’ creator economy gives new hope to recovering Asian firms
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A montage of screen grabs shows TikTok videos uploaded by content creators. (Courtesy of TikTok Indonesia/-)
W
hile recession fears linger, companies in Indonesia and throughout the Asia-Pacific region have been boosting marketing budgets this year, indicating a solid recovery from 2021’s record economic lows.
According to a recent report by media monitoring firm Meltwater, more regional brands have been employing micro influencers to connect with consumers. Data shows that micro influencers accounted for 91 percent of all sponsored post engagement across Asia-Pacific last year.
Read also: Apple, Samsung, Huawei among global tech giants hit hard by fear of recession
Mimrah Mahmood, senior director and partner at Meltwater Asia Pacific, said the average cost of partnering with micro influencers in the region was US$200 per post, considerably lower than the rates of more famous influencers.
The report found the strongest engagement rates on TikTok, where brands experienced 32 times more engagement than on Facebook and four times more than on Instagram.
“Brands can benefit from tapping into the booming creator economy. While many brands turn to celebrities for brand partnerships, micro influencers with higher engagement and stronger connection to their audience, can offer a stronger return on investment,” Mimrah said on Friday.
Beyond China and India’s established influencer economies, he added, other countries had amassed large influencer populations, with Japan in the first place with some 600,000 influencers, followed by Indonesia and Australia at around 400,000 each, Thailand with some 100,000 and Singapore at 70,000.
