How Influencer Marketing affects consumer buying behaviour

Authored by Ritesh Ujjwal, Co-founder & CEO, Kofluence, World’s largest AI-led influence platform.

Today, we live in a digitalized era, where the emergence of social media has revolutionised the way people connect with one another and consume information. In light of this, with the rise of social media platforms, influencers have emerged as trusted experts in various fields and have built loyal followings that brands can leverage to promote their products and services. There has also been a significant rise in marketing efforts to reach out to these digital consumers. Influencer marketing has certainly emerged as a dominant strategy in recent years, but it’s crucial for brands to remember that this approach is not a silver bullet. The real value of influencer marketing lies in its ability to foster genuine connections between brands and their audiences. To succeed in this area, brands must focus on cultivating long-term relationships with influencers whose values and interests align with their own, rather than simply using them as one-off advertising tools.

Ultimately, influencer marketing is seen as a means of building trust and rapport with consumers, rather than just another form of advertising. According to the Advertising Standard Council of India, 91% of individuals trust advertising in general, and 79% believe social media influencers. Transparency and honesty were cited as the top reasons why customers trust social media influencers, followed by relatable content and personal experience.

Here’s a look at how the impact of influencer marketing on consumer behaviour, and examine the factors that make influencer marketing an effective strategy for brands to consider.

Trust and Credibility

Trust and credibility are essential components of influencer marketing. Influencers have amassed a loyal following by sharing their thoughts, experiences, and suggestions with their fans. When an influencer promotes a product or service, their followers trust their opinion and are more likely to believe it. This is because consumers perceive influencers as experts in their domains and value their opinions. This trust and credibility influencers have built with their followers can convert into increased brand sales. According to Influencer Marketing Hub, compared to 38% of brand-produced material, 61% of consumers are more willing to believe recommendations from influencers.

Authenticity

One of the key aspects of influencer marketing is authenticity. Consumers in today’s market are increasingly wary of inauthenticity and crave realness and sincerity from the brands they interact with. Studies have shown that when customers perceive a company as genuine and authentic, they are more likely to engage with it, recommend it to others, and become loyal customers. In a world where brands are constantly vying for attention and trust, companies must prioritise authenticity in their marketing efforts, cultivating a sense of transparency and honesty that resonates with their target audience. Instead of relying on quick transactions or gimmicky sales techniques, organisations should instead create enduring customer relationships built on mutual respect and trust.

Relevance

While relevance is undoubtedly crucial in influencer marketing, it is not enough for brands to partner with influencers who have a large following within their target demographic. To truly maximise the impact of influencer partnerships, brands must also consider factors like the influencer’s tone, messaging, and overall brand image. By working with influencers who share their values and aesthetic, brands can create a cohesive and authentic marketing campaign that resonates with their audience on a deeper level. For instance, a company that sells eco-friendly cleaning products would be better off collaborating with a micro-influencer who is passionate about sustainability than a celebrity influencer with a massive following, but no interest in eco-friendly living.

By working with an influencer who shares their values, the company can create an authentic and impactful marketing campaign that resonates with their target audience on a deeper level. Prioritising relevance over sheer reach or popularity can lead to more effective and impactful influencer marketing campaigns that truly connect with the brand's target audience.

Social Conformity

Influencer marketing has revolutionised the way brands reach out to consumers. By leveraging the power of social media, influencers are able to sway consumer behaviour through the halo effect. As people witness an influencer as credible in one area, they are more likely to trust their opinion on other topics. However, it's not just about trust. The desire to conform to social expectations and fit in with the “pack” drives engagement with influencers.

As people watch, engage, and celebrate with them, they feel a sense of community and self-assurance. So, following an influencer is not just about enjoying their content. It’s about feeling a sense of belonging and guidance. And while there may be pressure to keep up with the pack, the halo effect reminds individuals that they are not just followers but members of a community that can inspire them to be their best selves.

Emotional Connection

Influencer marketing can also create an emotional connection between consumers and brands. When influencers promote a product or service, they often share personal stories or experiences related to the product or service. The authentic and relevant nature of influencer marketing can foster an emotional connection between the influencer and their audience, strengthening the relationship and creating a deeper sense of trust and loyalty. When consumers feel emotionally connected to a brand, they are more likely to purchase from it and become loyal customers. In addition to raising brand awareness, this emotional connection can promote word-of-mouth advertising.

The Illusion of Control in a Digital World

The concept of power and control is deeply ingrained in human psychology, stemming from our instinctual need for survival. It’s natural for us to seek a sense of agency in our lives, as it gives us a feeling of control over our environment. This desire for control extends to the digital world, where we often consume content that resonates with our interests and values. By subscribing to specific influencers, we believe we’re asserting power over the content we consume. However, the notion that we have control of the content on digital platforms is deceptive because the content is significantly determined by algorithms and advertising.

Influencer Marketing: The New Age of Advertising!

Influencer marketing has the potential to influence customer purchasing behaviour significantly. Influencers can sell products and services to their followers in a way that connects with them via trust and credibility, authenticity, relevance, social proof, and emotional connection. However, marketers must be mindful of the limits of influencer marketing and ensure that their collaborations with influencers are transparent and authentic.

As the world continues to become increasingly digitised, influencer marketing is poised to become a powerful tool for brands seeking to connect with their desired audience. By recognising the potential influence that influencers can have on consumer behaviour, brands can make strategic decisions about integrating this approach into their broader marketing strategy. Therefore, it is imperative for companies to stay updated on the latest trends in influencer marketing and explore innovative ways to leverage this medium to create meaningful and lasting connections with their target customers.