Influencer marketing is huge. Is it saturated yet? Only time will tell. But at the moment it’s a very powerful tool for retailers. Just a few headline statistics tell us how influencer marketing is standing up against more traditional forms:
86% of women make purchases based on social media advice – that’s a pretty big number that can’t be ignored. Whether someone has only made one purchase as a result of a social media post, or makes them regularly, the fact that only 14% have never done this shows the direction influencer marketing is moving in.
60% of consumers have been influenced by social media whilst shopping in a brick and mortar store – there are a couple of implications here. Firstly, it shows people are online all the time, even whilst wandering around a shop and secondly, it shows they are online via their smart phones. Retailers need to be aware that they don’t have a captive audience, even in a physical store. Prospective customers are always checking reviews and price comparisons online.
40% of Twitter uses bought something particularly recommended in a Tweet – this shows us that all social media platforms are playing a role in influencer marketing. Ten years ago, it started with online reviews and blog articles. Now micro-blogs, captioned photographs and video shorts are providing bite-size accessible ways for consumers to absorb information on products and services.
As retailer marketeers get to grasps with the influencer space, using a myriad of sophisticated applications to target the right audience as they do so, it’s worth noting that influencer fans are mainly part of the younger generation. For example 75% of 18-24 year olds use Instagram. This trend is on a par with digital and open banking which is very popular amongst a younger demographic. Retailers need to focus on this technologically aware generation in more ways than one and at the same time have foresight into the next big things in both social media and finance.