Influencer Marketing: An Exploratory Study to Identify Antecedents of Consumer Behavior of Millennial

Abstract

Recent marketing trends indicate the rise of influencers as an extension of word of mouth campaigns. As consumers turn to social media platforms, organizations are realizing the power of influencers in affecting a purchase decision. The current study throws light on various aspects of influencer marketing that drive consumer behavior by using the theory of planned behavior (henceforth referred to as TPB) ( Ajzen, 1991 ) and social learning theory by Bandura and Walters (1963) as part of the qualitative research to identify key factors of influencer marketing that impact consumer behavior. The study revealed that both attitude toward influencers and perceived behavior control that allows increase in domain knowledge had a favorable impact on consumer behavior while the influence of peers had no effect. Further additional constructs namely personal relevance, inspiration, and trust had a positive impact on behavior while perceived risk did not have any effect. Product influencer fitment was an important criterion for consumers, as they followed the specific type of influencers for different product categories. Depending on the posts shared by influencers, consumers are impacted at four levels: increase in brand awareness, subject matter expertise, brand preference, and preference. Successful influencer marketing involves identifying the right type of influencer who will offer curated advice, stories, and suggestions to create engagement with the audience.