Transparency and honesty about brand associations emerged as the top reason for consumers to believe in social media influencers, reveals a report released by ad industry watchdog, The Advertising Standards Council of India (ASCI).
Titled ‘Influencer Trust Report’, the report has been based on an online dipstick with 820 respondents above the age of 18 about their trust in social media influencers who promote brands online. The findings reveal how much consumers trust influencer advertising, what builds trust, and what depletes it. The survey was conducted across multiple locations including metros, Tier I and Tier II cities.
According to the report, 91 percent of people trust advertising in general, and 79 percent of respondents trust social media influencers. Transparency and honesty stood out as the key reasons why consumers trust influencers on social media (63 percent), followed by relatable content (57 percent), and personal stories (53 percent).
The report also revealed that consumers stayed away from influencers when they sensed a lack of transparency (43 percent), repetitive content (42 percent), and over-promotion (41 percent).
Overall, it was found that both brands and influencers gained from meaningful partnerships. Around 64 percent of consumers felt the brand became more trustworthy when influencers endorsed it, while 58 percent of those surveyed thought that the influencers became more trustworthy when they endorsed the brand.
Other key findings of the report include six out of 10 respondents claiming they spent at least two hours on social media daily. Around 90 percent of the respondents revealed they made at least one purchase based on influencer endorsement, while 61 percent claimed to have made three or more purchases. This behavior was particularly prevalent among consumers ranging from 25 to 44 years of age. Besides established brands, newer brands benefited considerably with their products being discovered through content advertised by influencers.
It is to be noted that since ASCI launched its influencer guidelines in May 2021, it has processed 2,767 cases against brands and influencers for not declaring material connections. Instagram (58 percent) emerged as the top platform where most violations occurred followed by YouTube (33 percent), Twitter (7 percent), and Facebook (2 percent).
Manisha Kapoor, CEO & Secretary General, ASCI, says that an important aspect of the dipstick is the revelation that non-transparency was among the prime reasons why influencers lost the trust of their followers.
“On the other hand, transparency in their communication significantly built trust,” she adds.
ASCI will be conducting #GetItRight Brand Influencer Summit 2023 in February to understand how to build robust and sustainable relationships in the social media space.