The majority of consumers believe that they know what social media influencers are. A survey by IZEA, the online marketplace for brands, publishers and content creators, found that 74% of respondents are aware of social media influencers, with younger audiences generally being more aware of them.
Indeed, more millennials (76%) say they know what social media influencers were compared to older consumers. Awareness was even higher for the 18 to 21-year-olds.
Furthermore, 14.7% of survey respondents considered themselves to be influencers online with 20% of Generation Z claiming to be influencers.
Over a third (36.7%) of respondents said they had previously made a purchase of a product that was promoted by an online influencer. Among the top categories were beauty with 31.1% of participants previously purchasing cosmetic items following an influencer endorsement. Similarly, 28.8% bought fashion items promoted by an influencer and 27.6% also purchased food or drink items that were promoted.
According to the survey, females were more heavily impacted by social media influencers with 46% saying they had previously purchase a beauty item or service after endorsement.
Even though Instagram tends to be mentioned as the dominant app for influencer marketing, it was Facebook that ranked top in terms of impact on purchasing decisions.
48.7% of respondents said that Facebook had had the greatest impact on their purchasing decision, followed by YouTube (38.3%) and Instagram (34.1%).
Interestingly, 39.9% of consumers consider Instagram the best platform for product promotion, whilst 29.5% said they checked out YouTube when researching a product.