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The Business of Influencers and Digital Engagement

Date: Apr 18, 2024

The Common Language of Influence

By Jessica Wilhoit, Product Design Analyst, Ethnic Technologies

Influencer marketing is a fast-growing industry.  It is valued at $21.1 billion as reported by Shopify. Mainstream media is no longer the only source of news and emerging trends. As social media has grown, many people get their daily dose of information from other people on their feed that they trust, or influencers. The relatability of influencers as well as the aspirations they showcase make them a preferred source of information for many. This influence works well to introduce new products and provide product education to followers.  Social media influencer posts do convert to sales as well.

According to Pew Research “three in ten adults”, who use social media, have made a purchase based on an influencer’s recommendation. Influencer Marketing Hub reports 21% of adults (18-54) on social media buying a product due to influencers’ posts. The article continues to explain that influencer posts convert to purchases depending on the age of the consumer. Gen Z was likely to make purchases based on social media posts 32% of the time whereas Baby Boomers made purchases 8% of the time. Gen Alpha is already increasing these numbers. For children who have never known a world without an iPad, 55% of them want what the influencers they see on social media recommend. As a generation’s familiarity with social media increases, their likelihood to be persuaded by influencers does as well.

What does this mean for marketing strategies? Companies, especially those with a target audience between Gen Alpha and Millennials will likely increase their use of social media influencers. According to the IMH survey reported by Influencer Marketing Hub, 67% of survey participants plan to increase their influencer marketing spend over the next year.  Influencers will also likely continue to help brands break into new markets.

AG1and Gymshark are two international brands, New Zealand and UK based respectively, who heavily use influencer marketing. Both used US based influencers to become successful in this market. Companies used to hire employees to translate trends in potential new markets. Now they can find influencers to educate new markets on their products according to an article published by Forbes. With younger and emerging generations, influencers will likely serve as a common marketing language across international markets.

A consumer’s level of digital engagement can show how likely they are to see influencer posts and make purchases accordingly. Use E-Tech’s Digital Engagement product to find impressionable consumers for your products.

For more information, contact:

Karen Sinisi

Director of Sales and Marketing

Ethnic Technologies

Phone: (864)419-9508

karens@ethnictechnologies.com

or

Amalia Tsiongas

Director of Research & Product Development

Ethnic Technologies

Phone: (866)333-8324 Ext 103

amalia@ethnictechnologies.com

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