Instagram largely influences my spending habits these days. Any new trendy and stylish product I see on the app makes me want to buy it. I know I am not alone. We all have fallen prey to social media marketing tactics at some point in our lives. Social media influencers have a significant role to play in it.
Advertisements earlier used to be restricted to only certain places like newspapers, outdoor billboards, television channels, etc. It was only when we chose to step out of the house or watch TV and read newspapers, we were exposed to ads. How we consumed those ads depended on us. Now, ads have fallen right into our hands due to mobile phones. So they travel with us everywhere we go. Thus, we are now completely exposed to ads and marketing gimmicks in some or the other way constantly.
Companies have largely succeeded to reach consumers even closer now, more than ever through common people (like you and me) who have a huge social media following. Over the past few years, social media influencer marketing has been growing rapidly. When common folks having expertise in the field of food, travel, fashion, finance, dance, etc began to showcase their talent, love, interest and passion on social media platforms like YouTube, Instagram and TikTok, it attracted many people to follow them. Taking advantage of this, companies chose to reach their customers through these influencers besides other traditional advertising platforms.
Today, social media influencers endorse various products and brands showcasing their use and how it benefits them. This tempts their followers to try it out for themselves. Fashion and beauty influencing, food and travel vlogs are on the rise. Constant consumption of content from these influencers has resulted in people spending humungous amounts of money on endorsed products and brands.
Savings are taking a big hit as money is being spent on either trying out a new fine dining restaurant every weekend or purchasing expensive skin serums and other beauty products suggested by social media influencers for clear and glowing skin. While every expense resulting from following social media influencers does take us on a guilt trip, the urge to get our hands on the products is equally real and uncontrollable.
So what must be done to take control of this condition?
Wait for 30 days:
While we might think we really need to buy a product, it’s best to wait it out. Wait for a month before making a purchase and after 30 days, ask yourself, ‘do I really need this even now?’ Chances are your mind will say no. If you can do away without something for a month, you don’t really need it.
One purchase per month
It’s only human to feel like buying nice things for yourself. If you really wish to buy something, make sure you buy only one product a month. Buying products in bulk will become too heavy on your pocket. Instead, you can buy one thing, or try out only one new place in a month.
Set a budget
Sometimes, spending on something endorsed by social media influencers can be an expensive affair. Due to this, setting a spending limit is very important. Buy only that which falls within your set spending limit.
Try to follow only those social media influencers who truly interest you
Getting ‘influenced’ on social media is very easy. You must follow only those social media influencers to truly cater to your interests. This way, your need to spend money on various things promoted by a pool of social media influencers will reduce to a great level. Unfollow those who don’t complement your interests.
While these aren’t sure-shot ways to limit your spending resulting from social media influencing, it’s worth a shot.