Influencer marketing is a relatively new and somewhat mysterious form of advertising. Influencers are individuals or brands who have built large social media followings, earning the trust of their fans and followers. Brands can capitalize on this trust by offering paid sponsorships, asking influencers to endorse their products on their feeds. But how effective are these partnerships?
Rakuten Marketing conducted a survey of 3,600 consumers from around the world to find out how influencer marketing affects their shopping behavior. The results indicate that social media influencers are, in fact, influencing people to spend money.
Seventy-four percent of customers indicated they would spend up to $629 on a single purchase inspired by an influencer, dispelling any notion that influencers aren’t effective in driving people to complete a purchase. Further, 36 percent say influencer authenticity and transparency helps them feel they are getting honest feedback about products or brands from a person they trust. See the stats to the right for more on the consumer/influencer relationship.
How do consumers decide whether an influencer is authentic?
- 46% said an authentic influencer has good taste or recommendations and is passionate about a topic
- 34% said an authentic influencer provides something of value to them
- 32% said an authentic influencer’s core values and ethics are in line with theirs
- 31% said an influencer’s expertise makes them authentic