From Likes to Buys: A Case Study on the Influence of Influencer Marketing on Consumer Decision Making
Prof.Bharti Shukla*
Dr.Gaganpreet Ahluwalia**
*Assistant Professor, Indira School of Business Studies PGDM, Pune, Maharashtra, India. Email: bharti.shukla@indiraisbs.ac.in
**Associate Professor, Head of Department, Marketing, Indira School of Business Studies PGDM, Pune, Maharashtra, India. Email: gaganpreet.ahluwalia@indiraisbs.ac.in
Introduction
Today, hundreds of millions of people are using social networks every day on a regular basis. Social media users trust and inspire the people they follow, so it may be a good idea for businesses to reach out to those celebrities with a large following and high engagement rate on social media. By partnering with influencers, it is easier to get the products and services in front of as many people as possible, which can improve the conversion rate. Influencer marketing helps in promoting your product and brand, however it not a full proof this strategy will work for every business. If a business looking for a way to enter social media marketing than influencer marketing can be a strategy worth exploring. Influencer marketing refers to companies that partner with individuals who have a significant presence on social media and have a large number of followers, to market their products and services.
Influencers come in five different sizes—nano, micro, medium, macro, and mega—depending on how many followers they have:
1. Nano influencers : less than 10,000 followers.
2. Micro influencers : from 10,000 to 50,000.
3. Medium influencers : from 50,000 to 100,000.
4. Macro influencers : more than 500,000.
5. Mega influencers : over one million followers.(Yamashita, 2016)
What is Digital Marketing?
Digital marketing is becoming a fundamental and important element of all business models weather it is a small, medium or a large business models. Digital marketing is different from traditional marketing. It can segment and target a specific group of consumers and communicates with them so has to make the impact the communication more effective. It also saves time and energy and helps optimum utilisation of resources.
