In a world where brands are being held accountable for their actions and trust in them is at an all-time low, influencers are stepping up to the plate.
And we’re not just talking about the fashion variety. Between vloggers, Instagram stars and new breed of bloggers like The Fat Jewish, there’s a whole range of influencers out there with a massive following. According to research from Marketers Insight and Track M, over 90 million people follow social media influencers on Instagram alone. So why does this matter? Because there’s a reason these people have so many followers: They have an incredible amount of trust amongst their followers. In fact, this trust is so high that it extends beyond any one particular niche or group; whether your passion is fashion or food doesn’t matter because if you have more than 10K followers, you are considered an influencer.
Why is this trust so important?
Like we’ve already talked about, people trust influencers far more than they trust brands. And that’s a big deal. You may be thinking that this is only true for the fashion and beauty world, but in reality, this is a much broader issue. People are less trusting of brands - which makes sense, given the fact that they’ve been through a lot in the last few years. From celebrity scandals to data breaches, people are more cautious about who they trust and where they spend their money. The good news for brands is that people are still spending. But the bad news is that they’re doing so with much less trust. In fact, for the majority of product categories, fewer than 20 percent of consumers say they trust the information and claims made by the brands.
What does a high level of trust in influencers mean for brands?
The data from Marketers Insight and Track M shows that consumers are already looking to influencers for recommendations. In fact, 37 percent of consumers report that they seek influencer advice before making a purchase. If you’re wondering why this is important, it’s because influencers are trusted: When influencers recommend a product, consumers are likely to listen. This is incredibly positive news for brands. It means that they can harness the power of influencers to reach a broader audience and help increase sales.
How should brands take advantage of this data?
Whether your brand is focused on high-end fashion or affordable home goods, there are a few things that you can do to take advantage of this data. First, make sure that you have influencers on your team. This doesn’t just mean hiring a few vloggers to promote your product; influencers are more than just a pretty face. It’s also important to make sure that you have the right team members on staff who can make connections with the influencer community and help you find the right people for your brand.
The bad news for brands: Consumers are less trusting of brands.
Again, this makes sense. When brands experience scandals and security breaches, people become far less trusting of them. In fact, according to a recent Brand Trust Report, consumers are much less trusting of brands now than they were just a few years ago. It’s important to recognize that this data is not all bad. Brands can still make sales; they just need to be more careful about how they market themselves. Consumers are always looking for a deal, but they don’t want to feel like they’re being tricked into buying a product or service that they don’t really want or need. The most important thing that brands can do to take advantage of this data is understood where their customers are coming from.
The good news for brands: Consumers have a high level of trust in influencers.
As mentioned above, influencers have a high level of trust among consumers. In fact, people trust influencers more than they trust brands. This is good news for brands because it means that people are willing to listen to their recommendations and trust their opinion. This is great news for brands because it means that they’ll be able to reach a larger audience through the help of influencers.
Influencers are more popular than ever and the data shows that people trust them more than they trust brands, which is great news for brands. However, they do need to understand where their customers are coming from and what they want, and they need to be careful not to trick them into buying something they don’t really want.
