Our whitepaper, The Past, The Present & The Possible unveiled brand partnerships as a leading trend in 2024 and this was solidified by a recent conversational study we ran on the impact of influencer collaborations on consumer behaviours. 2 out of 3 individuals closely follow influencers, with a striking 92% of them acting upon their recommendations, particularly in the beauty, personal care, and clothing sectors. But do consumers trust influencers? 58% do, with 14% expressing complete trust in the influencers they follow, driven by factors like familiarity, authenticity, content type, and visible results.
Interestingly, despite both older and younger consumers having the same level of trust in influencers, younger consumers display stronger resistance to influencer recommendations, while older demographics are more likely to purchase based on recommendations. Among those who trust influencers, the sharing of personal experiences was highlighted as the strongest driver of trust, particularly among the older age groups (65% over 27 vs 60% under 27). When it comes to differences, older age groups place significantly more value on quality recommendations (47% over 27 vs 29% under 27), whereas younger age groups champion product expertise (20% under 27 vs 12% over 27). The lesson learned here is clear: Personal experiences are paramount when it comes to driving trust across generations.
What has 'insta'-ntaneous impact on consumers?
We asked our community if they follow or interact more with macro influencers (>100k followers) or micro influencers (<100k followers). More than half (57%) revealed that they engage with both types of influencers equally, followed by 23% with a preference for micro and 20% with a preference for macro.
So if having more followers isn’t what sets certain influencers apart from others, what does? According to our data, product demonstrations and genuine reviews serve as the primary drivers of purchase behaviour across macro and micro influencers, as 70% of those who followed a recommendation did so because it came in the form of a demo or review. In contrast, only 25% followed a recommendation from an advertisement and sponsored post and 11% followed a recommendation due to an influencer offer or promotion.
Are consumers 'pinterested' in creator-owned brands?
Many influencers and celebrities have their own brand these days, thanks to the creator economy! While nearly 1 in 2 consumers support the personal empowerment it offers creators, 2 in 5 raise concerns about authenticity and creators trying to ‘maximise profits’. This is followed by concern around quality (37%) and high prices (31%). Does this mean consumers are more likely to buy from mass corporate brands? When asked about purchasing preferences, nearly 1 in 2 said they choose to purchase equally from both personal brands and mass brands.
How to turn ‘likes’ into leverage
- Moving forward, it's imperative to recognize the power of product demos and reviews in your influencer partnerships. Additionally, don't underestimate the impact of micro influencers. Our data reveals a preference for equal engagement with both micro and macro influencers and among those who prefer one over the other, micro influencers take the win. This emphasises the importance of diversifying your influencer strategies beyond big-budget collaborations.
- Lastly, don't hesitate to explore partnerships with personal brands within the creator economy. Contrary to concerns, consumers are equally inclined to purchase from personal brands as they are from mass corporate brands. Therefore, you should look to embrace collaborations with individual creators, leveraging their established authenticity and audience to drive engagement and influence.
Brand spotlight: Gymshark and Ikea
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