Influencer marketing remains a powerful tool for driving interest and engagement, as evidenced by a recent report from Matter Communications. The report found that 81% of consumers reported that social media posts from influencers, friends, or family members drove their interest in a product or service within the past year.
The study surveyed 1,000 consumers in the United States, highlighting the effectiveness of influencer marketing in the current market. It showed that the majority of respondents had interacted with influencer marketing, with 64% of them following influencers on social media and 58% purchasing a product or service promoted by an influencer.
The study also found that influencers played a significant role in brand discovery, with 47% of respondents discovering new brands and products through influencers. Moreover, consumers tended to trust the opinions and recommendations of influencers, with 73% of them saying they trust an influencer’s opinion on a product or service more than a brand’s.
This shift towards influencer marketing can be attributed to several factors, including the rise of social media and the need for authentic content. Consumers are increasingly looking for genuine recommendations and are more likely to trust the opinions of someone they perceive as an expert or influencer in their field.
The study also found that the preferred type of influencer content was product reviews and recommendations, with 68% of respondents stating that they prefer this type of content. In contrast, only 13% preferred promotional posts.
In response to this trend, many brands are increasing their investment in influencer marketing. According to eMarketer, influencer marketing spending is expected to reach $3.7 billion in 2021, up from $1.7 billion in 2018.
Social media platforms are increasingly focused on improving their creator offerings, regardless of whether creators are influencing or de-influencing. According to a recent report, YouTube has the highest consumer sentiment and has recently launched a new process to monetize its TikTok competitor’s shorts. This new process enables eligible creators to share revenue generated from ads displayed between Shorts clips.