When thinking about e-commerce, we can see that online shopping has been growing at a very fast rate for years. Statistically speaking, social media has played a huge role in this, with businesses not only moving sales to an online platform, but making use of social media for marketing purposes, proving to be extremely effective. So, with this in mind, let’s take a look at how influencers have changed consumer buyer behaviour.
Whether through desktop or mobile, online shopping has been taking over in recent years. Amazon managed to lead consumers to web shopping, with high street stores and local businesses quickly following to allow an online platform for their customers to purchase easily. It is expected that by 2023, global online retail purchases will have risen from 14.1% to 22%.
Statistics are proving immense amounts of social media usage among Gen Z, such as more than 50% of teens spending more than 6 hours a day behind their mobile phone screen. Taking this on board, it is worthwhile to think about mobile shopping figures, showing that by next year, mobile shopping will account for 54% of all sales, and dominating online sales.
Social Media Advertising
It can be said that social media has been one of the greatest advancements in technology, or more precisely, one of the most used. Platforms like Facebook, Instagram and Snapchat are providing means for communication across the globe, to share experiences as well as sharing product or service reviews.
Because of this, businesses have seen the opportunity to advertise through social media, whether it’s direct ads or through influencers. According to Hootsuite, 92% of Instagram users say that they have followed a brand, clicked on their website, or made a purchase after seeing an advertisement on Instagram. This is where the importance of social media influencers has become apparent over recent years.
Online spending behaviour and Gen Z
Throughout the rise of online spending and social media marketing and of course, the huge attribution that the COVID-19 pandemic has had on this, we can look at how influencers have changed consumer behaviour. Whether purchasing a new hairdryer or a table and chairs, we all know our tendencies to look at customer reviews, deterring from making the purchase if there are strongly negative comments.
- According to Hubspot, a whopping 71% of consumers are more likely to purchase a product online if it has been recommended by others.
- Back in 2016, it was found that 62% of millennials said they were more interested in genuine engagement from business rather than direct promotion, a number that has only increased since.
- Lexington Law found that 74% of Gen Z spend their free time online. With their current spending power at $44 billion, it is no wonder that this generation dominates 40% of consumer shopping.
Effect of influencers on spending
With all of these figures in mind, it comes as no surprise that social media influencers are the new big thing for online marketing strategies. We know that consumers tend to check reviews or ask for a friend’s recommendation before making a purchase, but by building relationships with social media influencers, this can become their trustworthy review channel instead.
Instagram influencers can range from nano to micro influencers, but irrespective of follower count, it is true to say that they typically have an expertise in a niche market. Between categories like beauty, skincare, and fashion, to sport, lifestyle, and mommy influencers, there are influencers out there to meet everyone’s desired content.
As consumers tend to become loyal to the influencers they follow, they build a connection whereby they feel like they know the influencer through their content, trusting their opinions and reviews. So, when you see a review from your favourite Instagramer, often this is all it takes to make a decision on a product purchase.
Why should you use influencers for your brand?
If you are still unsure about growing your Instagram following or if using influencer marketing is right for you, then you may want to reconsider if these are some of your business goals:
- to build brand and product awareness
- to improve customer relationships
- to improve buyers’ decisions with unbiased opinions
- to share discounts and deals
These are four of the main benefits that can be taken away from influencer marketing for a business. When taking into account the figures regarding online shopping and the use of social media nowadays, it’s without a doubt a good idea to see what all the hype is about. An influencer marketing platform like Heepsy can help you to find influencers that will work well with your brand and have a great reach to be able to meet your targeted audience.
Influencer marketing is about much more than just searching for Instagram accounts with the most followers. By looking into how an influencer marketing platform can help your business goals, you will discover features like follower analytics, audience authenticity metrics and many more.
Although Influencer marketing can seem like an overwhelming area to step into, it’s definitely worth it!
From the data found over recent years surrounding social media usage and Gen Z’s online consumer presence, it’s certainly not an unpredicted revelation to see how influencers have been able to make such an impact on consumer buying behaviour.