IZEA Study Reveals 1 in 3 Social Media Users Have Made a Purchase Driven by an Online Influencer
Orlando, Florida (October 15, 2018) – IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, announced the results of a study conducted to research the impact of social media influencers on the purchase of products and services. The survey collected responses from U.S. social media users age 18-65 who are active on social media.
Consumers Are Aware of Online Influencers
74% of all participants indicated that they know or think they may know what a social media influencer is. The study found that the younger the respondent, the more likely they were to be aware of online influencers. Millennials, who are currently 22-37 years of age, are more likely to be aware of online influencers, with 76% responding that they know or think they may know what an influencer is. Awareness climbs to 87% for those who are 18-21 years of age.
Not only are consumers aware of online influencers, approximately 1 in 7 (14.7%) consider themselves to be online influencers. That number climbs dramatically with those aged 18-21, where 1 in 5 (20.0%) consider themselves to be influencers.
Influencers Are Impacting Purchase
Approximately 1 in 3 (36.7%) of all participants indicated that they made a purchase of a product after seeing it promoted by an online influencer. An additional 11.5% indicated that they may have made a purchase after seeing an endorsement, but couldn’t recall.
Influencers Drive Beauty, Clothing, and Food Product Sales Most
Participants indicated that they have purchased a wide array of products after seeing them promoted by an online influencer. Beauty and cosmetic items represented the biggest category of purchase overall, with 31.1% of participants making a purchase after seeing it promoted by an online influencer. That is followed closely by clothing and fashion accessories, with 28.8% of participants indicating they had made a purchase; and food and beverage, with 27.6% of participants making a purchase as the resulting of seeing an online influencer promoting the product.
When it comes to impact on purchase, millennials skew higher in virtually every category. Food and beverage leads the way for millennials with 35.4% of participants indicating they had made a purchase impacted by an influencer, closely followed by beauty and cosmetics at 34.8% and clothing and fashion accessories at 33.5%.
Females of all ages have been heavily impacted by online influencers when it comes to the purchase of beauty and cosmetic products in particular. The study showed that 46% of females indicated that they have purchased a beauty product or service after seeing it promoted by an influencer.
Influencers have an impact on all categories of purchase, but over-index for consumables and lower priced items. Items such as cars and furniture are purchased less frequently than lipstick or soda. The influencer space is still nascent and the impact on larger ticket items may increase over time as more of those purchase decisions are made.
Facebook Impacts Purchase Decisions
- 48.7% of participants indicated that Facebook has had an impact on their product or service purchase decisions.
- 38.3% indicated YouTube had an effect on purchases, and
- 34.1% indicated Instagram impacted their buying behavior.
Millennials also differ from the general population here, citing Instagram as the most impactful on product or service purchase decisions.
While Facebook may have the biggest perceived impact on purchase decisions, 39.3% of participants believe that Instagram is the best platform to promote a product through an online influencer.
YouTube Videos Are Being Used for Product Research
When researching a purchase decision, 29.5% of participants are turning to YouTube first to gather product information. Participants are also using Facebook (18.6%), Instagram (11.9%), and Pinterest (9.8%) for research prior to purchase.
For millennials, usage increases, with 35.2% of millennials turning to YouTube as their first source of social product research.
About the Study
The study surveyed a total of 710 U.S. adults, age 18-65, of which 506 people qualified to participate. Respondents had to indicate that they were active on social media in order to qualify. Survey participants were sourced through an independent third-party panel. The estimated margin of error based on the sample size is +-5%.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements and terms are based largely on IZEA’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond IZEA’s control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, changing economic conditions. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will in fact occur.