Traackr, the performance-driven influencer marketing platform, released its annual Influencer Marketing Impact Report, which surveyed 1,000 US consumers to reveal the impact of influencers, social content and platforms on engagement and purchase behavior.
The research found that while influencers still motivate their followers and drive sales for brands, consumers are becoming more selective about where and with whom they spend their money.
Consumers emphasise brand and influencer values
While influencer marketing is known to be a successful method of reaching customers, consumer sentiment is such that they prefer only to follow influencers who align with their values. If a brand, or its chosen influencer, displays values that the customer doesn’t see eye to eye with, then the latter chooses not to follow the former.
Traackr’s Influencer Marketing Report found that 60% of consumers at least somewhat agree that they will not buy a product from a brand if it says or does something that conflicts with their values, and 63% at least somewhat agree that they would stop following an influencer if they say or do something that conflicts with their values. Female-identifying consumers were 13% more likely to have this sentiment about influencers than their male-identifying counterparts.
Different audiences demand different channels
A one-size-fits-all approch isn’t the most effective strategy for influencer marketing. Among consumers, different sections have shown preferences to different social platforms. Depending on where a brand’s target audience is, the brand must tailor their marketing campaigns.
The study by Traackr revealed that there was difference in preference of channels between Gen Z and millenials. Further, respondents selected YouTube as their most used social platform when viewing influencer content or doing product research, followed by TikTok, Instagram and Facebook. When asked where they are most likely to purchase products on social, respondents ranked Facebook as the most used platform, followed by Instagram, YouTube, TikTok, and Pinterest.
The research shows that consumer behavior displays constant evolution and brands that continue to experiment will have an edge over others.
Two-way relationship between brands and influencers
Influencers are dependent on brands for making most parts of their wages and are starting to realise that there needs to be done more for them to earn fairly. One of the ways to do this is for influencers to release their own line of products and go beyond what just the brand is trying to sell. At this juncture, influencers are looking for brands who will offer such support and help them achive their revenue goals.
The figures tell us that it is a challenge for influencers, especially those with small and medium-sized following, to create a solid revenue stream for themselves. Traackr’s survey shows that only 41% of consumers at least somewhat agree that they would pay for a favorite or trusted influencer’s exclusive content, while 56% are at least somewhat likely to purchase a product from an influencer-owned brand they follow.
The influencer sentiment reflected in the study shows that brands must invest in long-term relationships with influencers and go one step further from one-time partnerships.
