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A survey conducted by payments solution company Dojo reveals that influencer marketing is currently the most successful marketing channel to generate sales among consumers.
The study, which surveyed a sample of 197 small and medium beauty and hair business owners, makes the point that influencer marketing, where brands pay an influencer to promote a product or service to their followers, has grown with the progression of social media.
The Dojo study asked which marketing strategies the respondents use, as well as which strategies they found to be most effective in sales generation. Businesses that used influencer marketing found it more effective than traditional social media marketing like organic social posts on Instagram.
A fifth of the businesses surveyed currently use influencer marketing as a strategy, according to the data. However, a quarter of those surveyed noted that they would want support in running successful influencer campaigns.
TikTok is the second-best platform for generating sales, with 11% of the businesses reporting it as being the most effective. With the introduction of TikTok shop, this social platform provides a way for commerce sites to reach new customers and generate sales.
Instagram is also a firm favourite, taking the third spot. This social media platform makes it easy for brands to create ‘shoppable’ posts that can direct customers straight to their website.
Here are the responses when respondents were asked which of the following marketing strategies were most effective at generating sales for their business.
1. Influencer marketing - 24%
2. TikTok - 11%
3. Instagram - 8%
=4. Twitter (X) - 6%
=4. Google Analytics/Google Adwords - 6%
=4. Physical mailouts/direct mail - 6%
=5. SEO - 5%
=5. Leaflets - 5%
=5. Offers via email - 5%
=5. Local periodicals - 5%
6. National periodicals - 4%
There are various types of influencers in the digital world, making this channel more accessible for smaller brands. This includes:
Nano influencers (1K–10K followers)
Micro influencers (10K–100K followers)
Macro influencers (100K–1M followers)
Mega or celebrity influencers (1M+ followers)