2024 Consumer Shifts – In today’s era of information openness, influencers have become a major force in influencing consumer behavior. They not only change the way consumers interact with content but also change how information is gathered and purchasing decisions are made. These changes have made consumer behavior patterns very different compared to a few years ago. Consumers now move through a shopping cycle consisting of brand awareness, consideration, purchase, retention, and advocacy.
1. Awareness: Building Brand Awareness
The first stage in the consumer journey is to create awareness of your brand or product. At this stage, consumers looking for a solution to a particular problem do not necessarily expect an aggressive sales pitch. Instead, they are more interested in a subtle and natural approach to getting to know the brand. Storytelling is an effective tool to create brand awareness in a way that is more engaging and less like conventional advertising.
Influencers are storytelling experts who can bring your brand message to life in a more personalized and relatable way. Consumer trust in influencers has increased significantly, with recent data showing a 21 percent year-on-year increase in trust. This makes influencers an important component of marketing strategies, with 36 percent of brands allocating at least half of their digital marketing budget to influencer marketing.
2. Consideration: Helping Consumers Make Choices
Once consumers start considering multiple solutions, they will enter the consideration stage where they need more in-depth information to make an informed decision. At this stage, trusted opinions become very important, and interestingly, many consumers trust the opinions of their favorite influencers more than those of friends or family. This shows how influential influencers can be in helping consumers make more informed decisions.
Honest product reviews from influencers not only help validate the benefits of a product but also speed up the decision-making process. Data shows that 69 percent of Gen Z and 71 percent of millennials try new products after seeing recommendations from influencers. This is clear evidence of how influencers can lead consumers from the consideration stage to purchase, especially in industries such as fashion and beauty where more than half of brands report an increase in their brand perception thanks to influencer marketing.
3. Purchase: Turning Consumers into Customers
Once potential customers have made their choice, the next stage is purchase. At this stage, presenting clear and transparent information is key to helping them make the final decision. Openness regarding cost, purchase details, and how to use the product are all important to ensure that consumers feel confident in their decision. Influencers can play an important role here by promoting products in detail through informative and engaging campaigns.
Changes in consumer shopping behavior, especially with the increasing popularity of online shopping, strengthen the role of influencers in influencing purchasing decisions. Studies show that 22 percent of the population starts most of their shopping on social media, and more than half of Gen Z and millennials make purchases based on influencer recommendations. This shows that influencer marketing is an effective strategy to push consumers towards the purchase stage.
4. Retention: Keeping Customers Loyal
While acquiring new customers is an important goal, retaining existing customers is the key to long-term success. Loyal customers tend to spend more and have lower retention costs compared to the cost of acquiring new customers. In this context, influencers can help strengthen relationships with customers through the promotion of good customer service, loyalty programs and satisfying shopping experiences.
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Not only on social media, but influencers can also extend brand reach to traditional media such as TV or in-store displays. This is important considering 34 percent of consumers want content creators to be present in traditional media. Thus, utilizing influencers for retention strategies can help brands keep customers loyal and increase customer lifetime value.
5. Advocacy: Turning Customers into Supporters
Once customers become loyal, the next step is to turn them into supporters for your brand. Influencers can be very powerful allies in creating brand advocacy. By building partnerships with influencers who align with your brand values, influencers can inspire their followers to share positive experiences about your products and help strengthen brand loyalty.
Conclusion - 2024 Consumer Shifts
Influencer marketing has evolved into a highly effective tool in influencing consumer behavior by 2024. With the right strategy, brands can utilize influencers to build brand awareness, influence consumer consideration, drive purchases, retain customers, and even create brand advocacy. While influencer marketing is becoming increasingly complex, the opportunity to achieve marketing success is greater with effective partnerships with the right influencers. Be sure to stay on top of the latest trends and adapt your strategy to get the most out of your influencer marketing efforts.
As you navigate the digital marketing seas, consider this guide your compass. Interested in delving deeper? Don’t forget to explore more our insightful services like
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If you’re enticed by the idea of partnering with Lokalua by Dijiwa Sanctuaries, or wish to join our ranks, feel free to contact us or learn more about the Lokalua Partnership. So, as we close this guide, I encourage you to embrace the exciting world of media buying. Strap in, get ready, and let the music of your marketing symphony play!
