Online shopping has grown at an incredible rate over the years, if you look at e-commerce. Social media plays a significant role in this. Businesses not only move sales to the internet, but also make use of social media to market their products. Let’s now examine how influencers can change consumer buying behavior.
Online shopping is dominating the market, whether it’s via mobile or desktop. Amazon was able to attract consumers to online shopping. Local businesses and high-street stores quickly followed suit to offer customers an easy way to shop online. It is expected that by 2023, global online retail purchases will have risen from 14.1% to 22%.
Statistics prove that Gen Z spends a lot of time on social media. For example, more than half of teens spend more than six hours per day looking at their phones. 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 dominate online sales.
Advertising on Social Media
Social media is one of the most important technological advances, or, more specifically, the most widely used. Social media platforms like Snapchat, Instagram, and Facebook allow people to communicate across the globe. They can share their experiences, as well as product or service reviews.
Businesses have realized the benefits of advertising on social media. 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. In recent years, this is where social media influencers have become important.
Online shopping behavior and Gen Z
We can see how influencers have influenced consumer behavior during the rise in online spending and social marketing, and the enormous attribution that COVID-19 has had on this. We all have a tendency to read reviews and deter from purchasing something, whether it’s a hairdryer or a table with chairs.
- According to Hubspot, a whopping 71% of consumers are more likely to purchase a product online if it has been recommended by others.
- In 2016, 62% of millennials stated that they are more interested in genuine engagement from businesses than direct promotion. This number has continued to rise.
- 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.
Influencers have an impact on spending
It’s no surprise social media influencers have become the next big thing in online marketing strategies. While we know that people tend to read reviews and ask friends for recommendations before purchasing, social media influencers can help them build trust with their customers by becoming their trusted review channel.
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. There are many influencers that can provide the content you need, from beauty and skincare to fashion and lifestyle to mommy influencers.
Consumers tend to be loyal to influencers that they follow. They build a relationship with them through their content and trust their reviews. A review by your favorite Instagramer is often all that’s needed to make a purchase decision.
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 increase brand awareness and product awareness
- To improve customer relations
- To improve buyer decisions by offering unbiased opinions
- Get discounts and deals by sharing
These are just four benefits of influencer marketing. It’s a smart idea to look into the benefits of influencer marketing for a business, especially when you consider the numbers regarding online shopping and social media use. 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 goes beyond just finding the best Instagram accounts. You can discover how an influencer platform can help you achieve your business goals by looking at features such as audience authenticity metrics, follower analytics and more.
It’s not easy to get into Influencer Marketing, but it’s certainly worth it!
It’s not surprising that influencers are able to have such an impact on buyer behavior, judging by the data collected over the years about social media usage.