First, it is not possible to answer this question without identifying many other factors such as the type of product, the target group, the place, the time.....etc.
However, we raised this question to shed light on the huge size of this market, which is developing in a huge way from year to year, reaching a value of 16 billion USD in 2022.
The answer depends, since as you mentioned there are many other factors to consider!
So, you need to decide what constructs/scales that you wish to assess, and also include the all of the factors as independent variables.
Then, after you have gathered your data, you can conduct cross-tabulation between the constructs/scales and various independent variables using different statistical measures (e.g. ANOVA, GLM, etc.) to see how these statistically differ in relation to e.g. TV celebrities vs social media influencers.
It is difficult to compare a human being with a digital tool. To do so, you could compare Biodigital influencers (fake human being) and digital tools. Last research reveals that biogital influencers attracts followers.
Influencer marketing has been proven in the literature as an effective marketing strategies in influencing consumers responses, engagement and behaviors. Due to para social attachment with the influencers. Also, influencers are perceived as a trustworthy information source because some influencers share real experiences. Importantly current literature has shown that Influencers generated content satisfy followers’ personal values which thus influence their attitude and behaviors.
1- One of the important criteria to know whether to use it or not is understanding your ( Target Customers) and assess whether Influencer Marketing (fit) your Target Customers and could ( influence) them?
2- Please note that Infleuncer Marketing
is ONE of the effective strategies of digital marketing. It can be used and combined with other strategies.
It can be used based on the business’s ‘goal’? Is it for increasing brand/product awareness, attract attentions, increase engagement or increase sales?
Identifying the goal will help you to
a) know ‘when’ is the best to use influencer marketing i.e., at which stage you could use influencer marketing in the customer journey? To make it more impactful.
b) which social media platforms you should target? For example, attract attention can be Ticktock or snapchat? Also depends about popularity of the platform in your area.
I hope I answered your question.
Kind regards,
Ghadeer
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