Influencer Impact On Consumer’s Increasing – Facebook Has Less Power

A new study reveals that influencers have great sway on consumers, and brands using them to share messages about their products can keep their audience’s attention. They win with customer purchases. The power of this influence is best seen across many of the of social platforms that consumers spend hours reviewing every day.

Social platforms were originally created as a way to connect and keep up with friends, but in recent years the role has shifted significantly. According to a study by Sideqik, 83% of Facebook users say that social connection still remains their primary use for the platform. However, less than 1/3 of the users across five other major platforms say the same. 

Therefore, it is not surprising to learn that the percentage of people actually known to a site user in real life changes dramatically from platform to platform. Here’s what the study shows among platform users:

·      Facebook (Meta) has 88% of friends and followers,

·      Instagram has 49%,

·      Twitter has 36%,

·      You Tube has 17%,

·      Pinterest has 13%.

·      Twitch has 6%.

It shows the strength of Facebook as a true platform to share personal, social connections. In contrast, activity on the other platforms is less about following someone the user actually knows; less than half of the people consumers follow on the other social media platforms are known to them in real life. Given the recent announcement that Facebook shares plunged -20% on a poor earnings report suggests that the power of a social media platform (at least measured in financial terms) has changed.

This reflects a major shift in consumer behavior. We see a change in the purpose of these social platforms that is creating new ways for consumers to absorb and share information. More importantly, we can see opportunity it creates for influencers who want to share their thoughts and feelings with a broader audience of like-minded followers.

 It redefines who the influencers are, and it may redefine their social circle. In fact, Sideqik claims that 50% of millennials feel that they know the influencers they follow on social media better than their friends. As a result, 7 out of 10 consumers trust influencers’ recommendations just as much as the opinion of real-world friends.

The impact influencers can have should not be ignored. In the past year, 72% say their trust in influencers has increased, while 66% say purchase decisions are often driven by influencers and 64% say that influencers even help them discover new brands.

All of this is very relevant to retailers. The study makes it very clear why print media – newspapers in particular – see a decline in readership and are no longer the medium of first choice to introduce merchandise and to sell well-known brands. The merchandise has to be authentic, and customers don’t want the media to undermine that in any way. Print often feels impersonal and disconnected. Sideqik data also supports this; its findings placed great value on authenticity, stating that for 94% of consumers it is a key reason they follow influencers.

POSTSCRIPT: The Sideqik report is an excellent summary of the changes that have occurred that reshape customer/vendor relationships. It shows how customers read less but listen more and how brands can prosper by switching to the right platform. There is a quick return when the right influencers are used. Some of Sideqik clients include Coca-Cola, Deathwish Coffee, Logitech, TV Guide, and Universal Music Group.