Consumers are relying on recommendations and reviews from their favorite influencers to decide where to spend their money. Currently, brands are on track to spend billions of dollars on influencer marketing, and with good reason. Insider Intelligence forecasts that companies will spend $6.16 billion in 2023. So what’s behind the impact of influencer marketing on consumers?
Impact of influencer marketing on consumer behavior
Influencer marketing will continue to grow for several reasons.
The general public has developed a distrust of conventional ads, commercials, and celebrity endorsements and has even expressed a preference for ad blocking. People crave authenticity and honesty, which influencers can offer.
Influencers have built their brand and audience around an industry, lifestyle or niche they consider a passion. They typically only work with brands that align with the stuff they post and promote products or services they’ve experienced themselves.
Their audiences tend to have a strong sense of trust in what they say, so much even that a 2022 IZEA study found 62% of respondents say “they are more likely to trust a sponsored post from an influencer over an A-list celebrity.”
Aside from the trust element, people are drawn to influencers because of the variations of content they create and share. Creativity is what gets people’s attention and holds it long enough for the intended message to be delivered. Even if they don’t make a purchase immediately, they’ve become aware of the brand, its voice, and what it offers. People tend to get inspired by influencer content, so they could even associate that inspirational moment with your brand and its products or services.
Most influencers have interesting expertise to share that they tie into their campaigns, and people love fast learning, especially when they can be entertained.
It’s really a win-win. Brands are not only seeing an increase in sales, but they’re also seeing their customer base grow after partnering with an influencer. A study shows that 64% of consumers say influencers helped them discover new brands.
In conclusion, people like others and want to hear what they say. Finding the right influencer, tracking results, and identifying the best angle are rewarding. The good thing is there are plenty of resources that can lighten the load and automate these processes. Check out our platform to connect with influencers for your brand.