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The influencer trend isn’t going away anytime soon.
Nearly three quarters (72%) of all Generation Z and millennials follow influencers on social media, according to Morning Consult’s latest study, "The Influencer Report."
The report — which surveyed over 2,000 13- 38-year-olds — explored generational engagement among influencers, and social media platforms, finding “where young Americans follow influencers, who they like to follow, why they follow, how much trust they have in influencers, and how much interest they have in becoming influencers themselves.”
Morning Consult’s Vice President of Content Jeff Cartwright told YFi PM last week that the report’s findings point to the fact that influencers are becoming a key part of the social media experience.
“Not only are influencers affecting consumer habits and trends — they’re really dictating and changing the way young Americans think about the culture and the world around them.”
Fifty-two percent of the surveyed Gen Z and 50% of the millennials say they trust influencers to give good advice about the brands and products they’re promoting. Those numbers take place over their favorite celebrities and athletes, and fall just behind actual product reviews from websites and the news.
The study found that nearly 1 in 4 Gen Z females cite influencers as the most common medium for learning about new new products to buy.
“Why they follow these people is because they're authentic,” Cartwright stated. “They feel like they're their friends...You feel like you’re tuning in watching your friends. They’re not highly polished. They're very colloquial, conversational. You’re just captivated immediately and you're brought right in.”
And the favorite platform for following influencers?
Instagram takes the top rank among Gen Z and millennial females, but Google-owned YouTube (GOOG, GOOGL) positioned itself in first for Gen Z and millennial males.
Top name YouTube influencers such as PewDiePie, Jeffree Star and Shane Dawson have ranked themselves among the most popular influencers on the video sharing social platform, according to Morning Consult, pulling in large amounts of cash each year.
“Jeffree Star does YouTube video tutorials, he made $18 million in 2018 on just pure brand sponsorships,” Cartwright stated. “We’re all in the wrong business.”
Tapping into the market of micro-influencers
Influencers are a huge market.
According to “The Influencer Report,” 86% of Gen Z and millennials say they’re willing to post sponsored content for money.
“These kids [Gen Z and Millennials] grew up on social media,” Cartwright stated. “They grew up having a personal brand when they were 5 years old. For them, the idea of being an influencer is almost as natural as riding a bike.”