The Cyprus Advertisers Association has recently conducted a mini survey exploring the dynamics of influencer marketing within the country. FastForward unveils the survey, aimed to shed light on various aspects such as investment trends, the number of influencers companies collaborate with, the platforms utilized, and the nature of content produced by influencers for businesses.

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A total of 35 companies participated in the survey (May-June 2024), providing valuable insights into the current state and future direction of influencer marketing in Cyprus.

• Prevalence of Influencer Collaborations: A significant 77% of the surveyed companies reported working with influencers, indicating the widespread adoption of this marketing strategy.

• Investment in Influencer Marketing: The survey revealed that 74% of companies allocate up to 10% of their digital marketing budget to influencer marketing, while 15% invest between 11-25%. This shows a cautious but steady investment in this sector.

• Budget Trends: Stability in influencer marketing budgets is evident, with 59% of companies maintaining the same budget for 2024 as the previous year. Nearly 30% of respondents indicated an increase in their influencer marketing budget.

• Number of Influencers: Around 60% of companies collaborate with up to 5 influencers, and 30% work with 6-10 influencers. This demonstrates a preference for working with a manageable number of influencers to ensure effective partnerships.

• Preferred Platforms: Instagram dominates the influencer marketing landscape, with 96% of companies using it for their campaigns. Facebook and TikTok are also popular, used by 63% of the companies.

• Type of Content: The most common content produced by influencers includes lifestyle photos showcasing product usage, with 78% of companies receiving this type of content. Other popular content types include contests (48%), product reviews, and testimonials.

• Contracts with Influencers: More than half of the companies (52%) engage influencers through their advertising agencies. Meanwhile, 41% have direct contracts with influencers, and 7% do not use formal contracts.

For more detailed information about the survey and its findings, please click here.