New Research Reveals Influencers Significantly Drive Purchasing Decisions

Rhea-AI Summary

The 2024 Influencer Marketing Report by Sprout Social reveals that influencers significantly impact consumer purchasing decisions. Key findings include high trust in influencers, with 49% of consumers making purchases due to influencer posts. Gen Z consumers trust influencers more and are more likely to make frequent purchases. The report also highlights the emergence of AI influencers and consumer engagement preferences on various platforms.

In addition to a rising trust in influencers, the new report from Sprout Social shows nearly half of consumers make a purchase at least once a month because of influencers

CHICAGO, April 25, 2024 (GLOBE NEWSWIRE) -- Influencers have cemented themselves as key components of modern marketing strategies, and new research reveals the significant power they have in directly shaping consumer purchasing behaviors. According to The 2024 Influencer Marketing Report released today by Sprout Social, an industry-leading provider of cloud-based social media management software, 49% of all consumers make daily, weekly, or monthly purchases because of influencer posts, with 30% trusting influencers more today than they did just six months ago.

The report surveyed 2,000 consumers and 300 influencers to uncover their influencer marketing perspectives today and predict how the landscape will evolve in the future.

The findings illustrate how influencers are highly trusted catalysts of buying decisions, but their revenue impact becomes even greater when considering the preferences of Gen Z, whose buying power is quickly growing. Gen Z consumers reportedly trust influencers at a higher rate and are more likely to make daily or weekly purchases compared to other consumers. In addition, 87% of Gen Z consumers are more willing to buy from brands that partner with influencers outside of just social media content, giving influencers the opportunity to expand into brand spokesperson roles that have typically been held by actors, athletes, and celebrities.

“Trust is a priceless commodity that every brand must build in order to compete in a market where consumers have seemingly endless purchasing options,” said Scott Morris, CMO of Sprout Social. “Our research makes it clear that influencers are not only viable but necessary partners to tap into consumer trust, especially among younger generations. Brands who put influencers at the core of their overall strategies, on and off social, will reap the benefits as the influencer economy grows in tandem with consumer trust.”

In addition to driving purchases, the report highlights the unique role influencers also play in customer care. Gen Z and frequent purchasers say they’re more likely to share product feedback with influencers than with the brands they bought from, so customer service teams will need to operate in lockstep with influencers moving forward. This rich customer engagement combined with the rising level of trust means influencers can be invaluable partners and channels for customer feedback, helping brands pivot in real-time and grow long-term.

Additional key findings include:

• Consumer attitudes toward AI influencers: The rise of generative AI has led to the birth of AI-generated influencers. Attitudes toward virtual influencers are equally split; 37% of consumers would be more interested in a brand that uses an AI influencer, while the same amount say they’d be more distrustful of a brand. The remaining 27% say they’re indifferent and wouldn’t be able to tell the difference between AI and human influencers.
• Platforms consumers use to connect with influencers most: Consumers are most likely to engage with influencer content on Instagram, where influencers are also most active. However, platform preferences vary greatly by age. Gen Z consumers are more likely to engage with influencer content on TikTok than any other generation. For Gen X and Baby Boomers, Facebook ranks as their top platform for influencer engagement, followed by Instagram and YouTube, respectively.
• Types of influencer content consumers engage with most: 64% of consumers are most likely to engage with genuine and unbiased influencer reviews, and 55% say access to a discount or promo codes makes them more likely to seek out influencer content.
• Influencer marketing topics consumers care about: Across the board, consumers are most interested in food and drink (30%) and beauty (26%) influencer content, but there are some differences in preference by age. Millennial and Gen Z consumers are more interested in fitness and gaming, while Gen X consumers prefer movies/TV and sports content at a greater rate than younger audiences.

For more findings, download the full report here. To learn more about how Sprout Social can help businesses find creators and build fully integrated influencer marketing strategies, visit https://sproutsocial.com/features/influencer-marketing/.

About the data: This data referenced was collected online by Cint on behalf of Sprout Social. Consumer participants included 2,000 respondents across the US and UK who have at least one social media account and follow at least five brands on social media. Influencer participants included 300 respondents across the US and UK who identify as social media influencers, with an audience of 10,000+ followers on at least one social network, who earn at least half of their annual income from brand partnerships on social media. The consumer and influencer surveys were conducted from February 13, 2024 to February 20, 2024.

About Sprout Social
Sprout Social is a global leader in social media management and analytics software. Sprout’s intuitive platform puts powerful social data into the hands of more than 30,000 brands so they can deliver smarter, faster business impact. Named the #1 Best Software Product by G2’s 2024 Best Software Award, Sprout offers comprehensive publishing and engagement functionality, customer care, influencer marketing, advocacy, and AI-powered business intelligence. Sprout’s software operates across all major social media networks and digital platforms. For more information about Sprout Social (NASDAQ: SPT), visit sproutsocial.com.

Contact

Media:
Kaitlyn Gronek
Email: pr@sproutsocial.com
Phone: (773) 904-9674

Investors:
Jason Rechel
Twitter: @SproutSocialIR
Email: jason.rechel@sproutsocial.com
Phone: (312) 528-9166

FAQ

What is the key finding of the 2024 Influencer Marketing Report by Sprout Social?

The key finding is that influencers have a significant impact on consumer purchasing decisions, with 49% of consumers making purchases due to influencer posts.

How do Gen Z consumers differ in their trust and purchasing behavior related to influencers?

Gen Z consumers trust influencers more and are more likely to make daily or weekly purchases compared to other consumers.

What is highlighted in the report regarding AI influencers?

The report discusses the rise of AI-generated influencers, with consumer attitudes split on their preference for brands using AI influencers.

Which platform do consumers engage with influencer content on the most?

Consumers are most likely to engage with influencer content on Instagram, with platform preferences varying by age.

What type of influencer content do consumers engage with the most?

Consumers are most likely to engage with genuine and unbiased influencer reviews, with access to discounts or promo codes increasing engagement.

How do influencers impact customer care according to the report?

Influencers play a unique role in customer care, with Gen Z and frequent purchasers more likely to share product feedback with influencers than with brands.

What is the significance of influencers partnering with brands beyond social media content?

87% of Gen Z consumers are more willing to buy from brands that partner with influencers outside of just social media content, expanding influencer roles into brand spokesperson positions.

What role do influencers play in helping brands pivot and grow long-term according to the report?

Influencers can provide valuable customer feedback and engagement, assisting brands in real-time pivots and long-term growth.

Which generation prefers engaging with influencer content on TikTok?

Gen Z consumers are more likely to engage with influencer content on TikTok than any other generation.

What percentage of consumers are likely to seek out influencer content with access to discount codes?

55% of consumers say access to discount or promo codes makes them more likely to seek out influencer content.