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New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

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New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

The newly released report from influencer marketing platform Traackr sheds light on the latest trends in how U.S. consumers interact with social media platforms, content types, and influencers in relation to product research and purchases.

The report, titled “2024 US Influencer Marketing Impact Report,” surveyed 1,000 Gen Z and Millennial consumers in the United States about their social media usage, engagement behaviors, and perceived impact from influencers.

Legacy Platforms Still Reign Supreme

Despite the emergence of newer social platforms like BeReal and Threads, the report finds that U.S. consumers still prefer using legacy platforms like Instagram, Facebook, YouTube, TikTok, and X for posting their content online. However, their preferences differ regarding watching or engaging with influencer content.

New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

YouTube ranks as the top platform consumers use for researching products and viewing reviews, followed by TikTok, Instagram, Facebook, and Reddit. When it comes to making actual purchases though, Facebook takes the number one spot, trailed by Instagram, YouTube, TikTok, and Pinterest.

Short-Form Video Dominates

“Up to 75% of respondents say they find short-form videos under 3 minutes to be the most engaging type of content,” the report states. This lines up with TikTok and Instagram being favored platforms. Photos rank second for most engaging, followed by long-form videos over 5 minutes long.

Live streams also ranked highly as an engaging content type among consumers, signaling the potential for growth in this area for influencer marketing in the future. Traackr cites that a “few innovative beauty brands like e.l.f. Cosmetics have launched their own Twitch channels” to get closer to “the gaming community through specialized products.”

Humor Hooks Consumers

When asked what type of content they are most likely to interact with by commenting, liking, or sharing, consumers ranked funny/humorous content as number one.

New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

“Humor isn’t just for creating engaging influencer content,” the report claims, adding that “it can work for brands too!” As an example, it cites L’Oreal Paris’s partnership with TikTokers to promote Men’s Hair Color products, tackling sensitive topics such as grey hair through humor.

The Power of Connection

A common thread is that consumers highly value feeling a sense of connection and consistency in their social media experiences, according to the report. Up to 78% of respondents say they use social media platforms to connect with family, friends, and community.

Over half (57%) say they would be willing to try a new social platform if an influencer they know and trust posts content there, highlighting the influential role creators play.

Products, Quality & Values

On the commerce side, fashion emerges as the top product category consumers are most likely to purchase through social media, followed by beauty, home goods, electronics, and food/beverage.

New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

Regardless of product type, consumers say the top qualities they seek are product quality, good reviews, affordable pricing, sustainability, and ethical sourcing. 60% agree they would not buy from a brand whose values conflict with their own.

Monetization Challenges

While 61% feel influencers’ posts sway their purchase decisions to some degree, the report reveals creators may face challenges with directly monetizing their content. Only 41% of consumers say they would pay influencers directly for their exclusive content, while just 56% would buy a product from a brand belonging to an influencer they follow.

New Influencer Marketing Impact Report Reveals Which Strategy Is The Best Bang For A Brand’s Buck

The findings overall illustrate a nuanced landscape where different strategies and elements cater to different audience groups. As Kristi Bajrami, Global Influencer Strategy & Creator Lead at Pandora states: “Tailoring our content to [audience] preference led to higher unique reach, high engagement rates and an interactive exchange.”

The report emphasizes that brands need a data-driven approach to developing influencer marketing strategies precisely tailored to reach their unique audiences across the right mix of platforms, content types, and creators.

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David Adler is an entrepreneur and freelance blog post writer who enjoys writing about business, entrepreneurship, travel and the influencer marketing space.

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