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Influencer marketing works, and for cannabis brands, it’s an essential marketing investment. Word-of-mouth marketing has always been powerful, so it makes sense that consumers listen to the advice and insights shared by the influencers they trust.
Trust is the key word here. Historically, consumers have been very clear that they don’t trust many brands, but they do trust other people. With that in mind, it’s not surprising that marketers spent an estimated $26.09 billion on influencer marketing in 2023.
Fortunately, cannabis brands don’t have to spend billions of dollars to generate measurable returns on influencer marketing. The key to success is prioritizing the right strategies. Following are seven strategies to focus on as the foundation of your initiatives and investments.
Demographic Strategies
There are several specific demographic consumer groups that research shows are more likely to make purchase decisions based on the recommendations and warnings of social media influencers, including influencers. Let’s take a look at the three most important demographics to prioritize in your strategic plan.
Age
Younger consumers are significantly more likely to consider influencers’ opinions when making buying decisions than older consumers according to December 2023 research by YouGov. Here’s the breakdown by age of consumers who say they’re purchase decisions are very often or somewhat often impacted by social media influencers:
- 18-29: 52%
- 30-44: 45%
- 45-64: 18%
- 65+: 7%
The key takeaway from the numbers is this – approximately one out of two consumers between the ages of 18 and 44 say their buying decisions are directly affected by what social media influencers say. That’s a lot of people. Therefore, your influencer marketing strategies must prioritize age as a crucial targeting and messaging factor.
Race and Ethnicity
The YouGov research also found evidence that race and ethnicity should be part of influencer marketing strategies and budgeting. Here’s the breakdown of people who say their purchase decisions are very often or somewhat often influenced by social media influencers:
- White: 27%
- Black: 40%
- Hispanic: 35%
- Other: 26%
According to the research data, cannabis brands should consider allocating their influencer marketing budgets in order to target those races and ethnicities who are most likely to be affected by what their trusted influencers say, and messaging should be adapted accordingly. The data also suggests focusing on micro- and nano-influencers whose audiences are highly targeted and engaged.
Region
You might be surprised to hear that consumers in different regions of the United States are more or less affected by social media influencers. This data can help you refine your geographic targeting and spending. Here’s the breakdown by region of people who say their buying decisions are very often or somewhat often driven by what influencers on social media say:
- Northeast: 34%
- Midwest: 25%
- South: 30%
- West: 33%
Consumers in the Midwest region of the United States claim to be far less affected by social media influencers than in any other region of the country. This information can help you invest in the geographic areas where influencer marketing is likely to generate the highest returns. In addition, the data may suggest working with more targeted micro-influencers who have the eyes and ears of local audiences.
Behavioral Strategies
In addition to demographic strategies, data from eMarketer’s Trends and Predictions for 2023 research report provides insights into what consumers want from brands that invest in influencer marketing based on their behaviors. This information can help you develop strategies to improve your influencer marketing results in the future.
Shorter
Consumers’ attention spans have decreased by one-third in the past four years, so it’s not surprising that eMarketer’s research found consumers want shorter content today. This includes shorter written content and shorter videos. In fact, the report says videos of 20 seconds or less are most effective. If you provide content to influencers, consider keeping it short.
Variety
The days of publishing a text post or an image on social media and getting engagement are over according to eMarketer’s research. Today, consumers want a variety of content, including videos, reels, multiple images, and more. Work with influencers who understand the importance of variety.
Smaller
With marketers spending more than $26 billion on influencer marketing last year, it can be hard to stand out. However, the State of Influencer Marketing 2023 report from Influencer Marketing Hub found that many brands have more success working with smaller influencers with niche audiences. Therefore, look for micro- and nano-influencers who are highly engaged with your target audiences.
TikTok and Instagram
The most popular influencer channels today are TikTok, Instagram, Facebook, and YouTube (in that order). But don’t invest your entire budget into TikTok just because it’s the most popular. Consider where your target audiences spend time and diversify your spending to get the best results.
Key Takeaways about Influencer Marketing for Cannabis Brands
YouGov’s research found that overall, nearly one in three (31%) consumers’ purchase decisions are affected by social media influencers. If you’re not investing in influencer marketing, you’re missing a big opportunity to connect with nearly one-third of consumers. Get started by prioritizing the strategies discussed in this article, and the returns on your influencer marketing investments should improve.
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