Social Media Micro-Influencer Marketing and purchasing intention of Millenials.docx - MK4024 Contemporary Marketing Principles \u201cSocial Media

Social Media Micro-Influencer Marketing and purchasing intention of Millenials.docx

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MK4024 : Contemporary Marketing Principles “Social Media Micro-Influencer Marketing and purchasing intention of Millenials” University of Central Lancashire, Cyprus School of Business and Management Andreas Anastasiou, G20840228 20th of November 2019 The influence and value of social media in contemporary society is already common knowledge when it comes to the millennials. Generation Y, commonly known as Millennials, is the group of people who grew up in the early second millennium. Mostly, the authors have explained that the constant exposure to technology (tech natives) has shaped this generation. By the time they grew 1
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up, the Internet had reached a maturity level that enabled them to make widespread use of technology (Bolton et al, 2013). The way Gen Y communicates with technology in general, but in particular with social media have certainly affected those characteristics. This generation is very digitally focused and at least 43 times a day checks their phones (Rouse, 2017). Social media has become an extremely important part of a millennium, to connect with friends and family, as a source of news, entertainment, study and above all shopping. Companies and organizations are using paid advertisements on social media feeds such as Facebook and Instagram in an attempt to reach their target audience. To begin with, the social media it is described as the major feature of Electronic Word of Mouth, which is nowadays an essential marketing tool for every business’ operations and strategy. More specifically, the Electronic Word of Mouth determines the way that technology and the digital forms of communication have an impact on customers through several social media platforms (Thorsten et al, 2004). Through these communication channels they express their opinions to others and evaluate products or services in order to assist in consumers’ decision-making process. In order to understand the dimensions of the social media importance, it must be mentioned that the amount of money U.S. companies spend on social media publicity in 2013 was about $5.1 billion, and it was expected that by the end of 2018 grew by about $15 billion (Zhu & Chen, 2015). Researchers have found that paid ads do not influence the majority of people as expected, therefore, they simply prefer indirect commercials to conventional publicity (Krasniak, 2017). The incompatibility between the nature of social media and the type of commercials communicated by businesses is one of the main reasons why social marketing campaigns are 2
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usually unsuccessful (Zhu, Chen 2015). The main reason that people are using social media, is to connect to a network and exchange information and connect with others. According to Rohampton (2017), in the case of marketers, when they share their products or services with others through the social media, in fact, they do not manage to reach their audience as they do not consider this type of content. However, the use of content marketing is important in order to attract millennials through social media.
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