An Exploratory Study of Millennial Consumer Behavior Antecedents using Influencer Marketing

Influencer marketing is on the increase as a natural extension of word-of-mouth campaigns, according to recent marketing trends. Organizations are understanding the importance of influencers in influencing purchasing decisions as consumers turn to social media platforms. Using the theory of planned behaviour (TPB) and social learning theory as part of qualitative research to identify key factors of influencer marketing that impact consumer behaviour, the current study sheds light on various aspects of influencer marketing that drive consumer behaviour. The study found that consumer behaviour was positively influenced by both attitudes toward influencers and perceived behaviour control that allows for increased subject knowledge, whereas peer influence had no effect. Personal significance, inspiration, and trust, among other constructs, had a favourable impact on behaviour, whereas perceived risk had no effect. Consumers used product influencer fit as a criterion, since they followed different types of influencers for different product categories. Consumers are influenced on four levels by the posts shared by influencers: increased brand awareness, subject matter knowledge, brand preference, and preference. Identifying the correct type of influencer to offer customised advice, tales, and suggestions to drive interaction with the audience is key to successful influencer marketing.
All elements of our lives have been impacted by the digital revolution. Consumers today have a presence in the virtual world as opposed to the actual world, from reading news and social media updates on smartphones to shopping groceries online and hiring a cab. Any interruption in the form of warnings, prompts, or adverts is considered noise in a world where consumers want everything at the touch of a button. The media landscape is experiencing a dramatic change as print and television continue to lose market share to over-the-top platforms like Netflix and Amazon Prime. While marketers are combining online media options such as social media, websites, and blogs with traditional media such as television, print, and radio, the difficulty is getting advertising content and brand messages recognised by an increasingly distracted consumer. According to recent studies, people have a low recall of advertising and, even worse, do not recall the brand message. Consumers use ad blockers and other similar programmes to avoid online advertisements. Marketers confront a difficult problem in breaking through the clutter to get seen in today's environment, when the consumer's attention span is restricted and various gadgets and displays compete for his attention. Marketers are discovering that an emotional hook has a much better chance of engaging consumers, thus brand tales are becoming more popular. While most firms now have an official Instagram page, marketers are discovering that interacting with influencers (those with a huge following on social media platforms) can make customers feel more connected to the brand.
Even in the best of circumstances, getting a marketing message to the target audience is a daunting task. With so many business opportunities available on social media platforms, it's difficult to distinguish out and outperform competition utilising traditional marketing approaches. Influencer marketing (IM) is a solution to this problem.
A fashion blogger on Instagram, a wedding photographer on Pinterest, or a cyber-security specialist on Twitter are all examples of influencers. Influencers now represent or recommend brands on a variety of social media platforms, including YouTube, Instagram, and TikTok, among others. In order to make an informed selection, customers nowadays prefer to seek the advice of other consumers and influencers. As a result, influencers are now playing an increasingly important role in shaping consumer perceptions of a brand's products or services.
This $10 billion sector has now become a standard marketing strategy for many companies, particularly those in the business-to-business space. This marketing approach, according to Forbes, is growing at a significantly quicker rate than internet ads.
Surprisingly, despite its widespread appeal and numerous advantages, many marketing managers remain hesitant to embrace this modern strategy, preferring instead to rely on traditional means to reach their target audiences. Have you lately entered the digital marketing field and are unsure whether or not IM is beneficial? Here's everything you need to know about Influencer Marketing, including the benefits and efficiency that make it worthwhile to attempt.