66% of Social Media Consumers Expect Their Social Media Consumption to Increase During Coronavirus Confinement
86% of Social Media Consumers recommend Influencer Marketing as a means of product advertising during crisis
Orlando, Florida (March 18, 2019) – IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, streamed the results of a consumer study examining the potential impacts on marketers and social media influencers today. The special report is an extension of IZEA Insights, an ongoing research program examining the world of influencer marketing through the lens of consumer, marketer, and influencer participants.
IZEA fielded two unique consumer research studies focused on Coronavirus implications on March 12th and March 13th. The body of work assessed the potential impacts that household confinement due to COVID-19 concerns may have on consumer spending and social media consumption habits, as well as identified opportunities, challenges, and ideas for those operating in the influencer marketing space.
Key Statistics for Coronavirus Impacts on Social Media Include:
- 66% of social media users believe their social media usage habit will increase in the event they are confined to their home due to the Coronavirus.
- 64% expect their usage of YouTube to increase, only 2% expect a decrease.
- 63% expect their usage of Facebook to increase, only 2% expect a decrease.
- 44% of social media users would consider becoming a social media influencer to earn money for their household during an economic recession.
Key Statistics for Coronavirus Impacts on e-Commerce Include:
- 99% of social media users believe there is a chance they will purchase something online if they are confined to their home during a Coronavirus outbreak.
- 92% of consumers who have “a great deal of say” on purchasing decisions believe they will purchase grocery store items online (versus in-store) during confinement.
- 79% of consumers with children ages 3-17 at home believe they may purchase home improvement or DIY items online while confined to home.
- 76% of consumers who have a “great deal of say” on purchasing decisions believe they will order restaurant food delivery online.
“As more consumers are confined to their homes, we believe there will be a significant surge of social media content creation and consumption,” said Ted Murphy, Founder and CEO of IZEA. “That surge, combined with uncertainty in the global markets, will have impacts on the influencer marketing ecosystem. We see significant opportunity for brands to connect with an audience that is hungry for content, education, and online social experiences. We believe that an increase in supply of influencers, combined with the macroeconomic factors impacting the events and travel spaces, will drive the average cost per post lower near term. Brands will see their influencer marketing dollars go further than they have in recent years and certain sectors stand to benefit significantly from these price improvements. We expect brands will react relatively quickly to the changing environment and adjust their overall campaign spending to reflect the surge in social media consumption as it unfolds.”
“Influencers of all sizes will have to adjust to a new normal,” stated Murphy. “As jobs and household incomes are impacted, we expect to see an organic uptick in IZEAx marketplace influencer registrations along with current participants more aggressively pricing their sponsored content. The lack of in-store events and air travel will be challenging for those who rely on telling experiential types of brand stories most, and they will have to adapt their content expeditiously.”
To view an archive of the streaming event and download a PDF of the research in full visit izea.com/covid19.Watch Video