Market Insights Advertising & Media Advertising

Influencer Advertising - Turkey

Turkey

In 2024, ad spending in the Influencer Advertising market in Turkey is forecasted to reach US$54.95m.
The sector is expected to exhibit an annual growth rate (CAGR 2024-2029) of 10.48%, leading to a projected market size of US$90.46m by 2029.
The average ad spending per internet user in the Influencer Advertising market is estimated to be US$0.72 in 2024.
When compared globally, China is anticipated to have the highest ad spending, reaching US$19,160.00m in 2024.
In Turkey, the Influencer Advertising market is rapidly expanding, with brands leveraging local influencers to reach a highly engaged audience.

Key regions: Australia, Germany, France, Europe, United States

Market

Region

Region comparison

Currency

Analyst Opinion

Influencer Advertising has been gaining traction in Turkey in recent years, driven by the increasing popularity of social media platforms and the growing influence of online personalities.

Customer preferences: Turkish consumers have shown a strong affinity for social media platforms, with a significant portion of the population actively engaging with influencers and following their recommendations. This has created a fertile ground for influencer advertising, as consumers are more likely to trust the opinions and recommendations of influencers they follow. Additionally, Turkish consumers are increasingly seeking authentic and personalized content, and influencers are able to provide this through their relatable and genuine interactions with their audience.

Trends in the market: One of the key trends in the influencer advertising market in Turkey is the rise of micro-influencers. These are individuals with a smaller but highly engaged following, typically in a specific niche or interest area. Brands are recognizing the value of working with micro-influencers, as they often have a more targeted and loyal audience, resulting in higher engagement rates and conversion rates. This trend is also driven by the increasing demand for authenticity and relatability, as micro-influencers are seen as more genuine and trustworthy compared to larger influencers. Another trend in the market is the diversification of platforms used for influencer advertising. While Instagram remains the dominant platform for influencer marketing in Turkey, there has been a growing presence of influencers on platforms such as YouTube and TikTok. This diversification allows brands to reach different demographics and target audiences, and provides more opportunities for creative and engaging content.

Local special circumstances: Turkey has a young and tech-savvy population, with a high internet penetration rate. This has contributed to the rapid growth of social media usage in the country, creating a large and active user base for influencer advertising. Additionally, Turkish consumers have a strong preference for local influencers, as they are seen as more relatable and trustworthy. This has created opportunities for Turkish influencers to collaborate with brands and promote products and services to their local audience.

Underlying macroeconomic factors: The growing influencer advertising market in Turkey is also influenced by macroeconomic factors. The country has experienced economic growth in recent years, leading to increased consumer spending power. This has resulted in a higher demand for products and services, and brands are leveraging influencer advertising to reach and engage with consumers. Furthermore, the COVID-19 pandemic has accelerated the shift towards digital channels, with more consumers relying on online platforms for shopping and entertainment. This has further boosted the importance of influencer advertising as a way to reach and connect with consumers in the digital space. In conclusion, the influencer advertising market in Turkey is experiencing significant growth, driven by customer preferences for authentic and personalized content, the rise of micro-influencers, the diversification of platforms, and the country's young and tech-savvy population. These trends, combined with underlying macroeconomic factors, have created a favorable environment for influencer advertising to thrive in Turkey.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.