Kenya is slowly shaping into a social influencer marketing hub, thank the country's high internet and smartphone penetration.
Speaking to the Star in a recent interview, Twiva Media founder Peter Kironji said this kind where niche social media opinion leaders are used to market products and services on their social media pages is expected to grow at 10 per cent annually.
The global influencer marketing platform market size is anticipated to reach $84.89 billion by 2028, exhibiting a CAGR of 30.3 per cent over the forecast period.
This growth is attributed to the continued adoption of this kind of marketing by small-scale businesses due to its affordability.
Social commerce platforms like Twiva allow social media influencers to register, advertise specific products for customers and earn a commission.
Started in 2019, the social commerce firm gives influencers 10 per cent of every sale they influence. Those who sell products on the platform subscribe depending on the package they need.
A social media must have a considerable number of followers on any social media platform where he/she engages them on a specific topic.
The content creator is then allowed to post some of the items or services that fall into the specific niche. The influencer is paid per the number of sales activated.
''This form of marketing ensures the advertisers get a verifiable return on investment unlike social media postings that only attract hype.
According to him, this provides an opportunity to help social media influencers monetize their influence and gain or diversify income while harnessing the power they possess in marketing and selling products on social media platforms.
He explained that influencers get the job done by leveraging their influencer, knowledge and engagement on the social networks for sales conversions.
This model allows MSMEs to focus on what is critically timely; digitizing their enterprises for scalability and sustainability.
According to Kironji, although MSMEs contribute about 70 per cent of the Kenyan economy, one of the main challenges they continue to face is the lack of affordable, accessible, effective, and digital access to the market which has created barriers for sustainability to scale and create more employment opportunities.
''Without leapfrogging and fully embracing digital systems and processes, MSMEs are limited in accessing markets with varied consumers,'' Kironji said.
He explained that many MSMEs' owners lack the necessary digital skills to set up, competitively operate and scale their businesses on digital platforms.
The firm has listed over 1,000 influencers on its platform with at least 3,000 returning customers especially small businesses.
The firm is expected to hold an official launch on October 29. The event is aimed at boosting and cementing Twiva’s awareness, brand visibility and credibility.