Time Out Reveals New Study - From Influence to Action: Insights from the New Influence Economy

Time Out Reveals New Study - From Influence to Action: Insights from the New Influence Economy

New research released by Time Out examining the influence economy reveals two new influencer typologies and suggests one important group is being neglected by many brands. The findings were presented by Noel Penzer, CEO of Time Out Group, at Ad Week Europe 2016. 

The two Influencer groups revealed in Time Out’s “From Influence to Action: Insights from the new Influence Economy" study are:  

The Shaker

·       Very large social networks (on average 3,500 followers, nearly 6 times more than a non-influencer)

·       Define their success by the size of their following (76%)

·       Very confident (87%)

·       Actively advise their friends and followers (89%)

·       Is the group that most marketers are currently chasing

 The Maker

·       Large social networks (average of 1,700 followers, over 3 times bigger than a non-influencer and half the size of Shakers)

·       Motivated by making meaningful connections

·       Very knowledgeable about their expert areas (48%, 20% higher than Shakers)

·       Are often the go-to person in their social circle to seek advice or a recommendation from (88%)

·       Makers are more passionate (+20%), more curious (+12%) and more knowledgeable (+20%) than their Shaker counterparts

·       Time Out believes that this type of influencer is currently being under-targeted by brands and marketers 

Time Out’s new research suggests, contrary to popular perception, the Maker community are more likely to drive action. Shakers remain a force to be reckoned with if the objective is simply awareness, due to their larger social reach. 

Respondents in Time Out’s study of 799 influencers were asked how they would respond if a product was recommended to them by a well known person or someone whose opinion they trust. The study showed a Shaker’s recommendations are 68% more likely to be ignored despite having a wider social media reach than Makers. Both influencer types were equally as effective in getting consumers to research the product further (38% for Makers vs. 37% for Shakers). However, Makers were shown to be 23% more effective than Shakers in giving people the confidence to actually buy or try a product.

Maker influencers are hard to target but do have a very distinct media profile. They spend much more time reading printed content than the average : Makers spend 30 minutes per day reading printed newspapers vs. the national average of 18 minutes (source: TGI) and consume double the national average of printed magazines (24 minutes vs 12 minutes, source: TGI). 

According to the new research, in the general population 48% of those defined as influencers qualify as ‘Makers’. When it comes to Time Out’s UK influencer audience, four in five (80%) can be defined as an Maker, meaning that a third of Time Out’s total UK audience are Makers. Of this Maker community, nearly three quarters (72%) have actually acted on something they’ve discovered through Time Out. 

 “As one of the world’s leading platforms for influencers, Marketing Directors and other publishers often approach us for insights into the influence economy. We’ve chosen to codify our learnings through this new research,” said Noel Penzer, CEO Time Out Group.  “The first chapter of influencer marketing has been dominated by fame and reach, with brands looking to align themselves with the well-known Shaker community.  Time Out’s new research suggests a new chapter of influencer marketing is emerging, one focused on the Maker Community who have real power to convert influence to action.” 

From Influence to Action is a qualitative and quantitative study conducted by media research specialist Tapestry, including interviews with leading academics, agency planners and Time Out’s Tastemakers plus a nationwide survey of 799 influencers and 1,556 Time Out consumers.