MK4024 : Contemporary Marketing Principles“Social Media Micro-Influencer Marketingand purchasing intention of Millenials”University of Central Lancashire, CyprusSchool of Business and ManagementAndreas Anastasiou, G2084022820th of November 2019The influence and value of social media in contemporary society is already common knowledgewhen it comes to the millennials. Generation Y, commonly known as Millennials, is the group ofpeople who grew up in the early second millennium. Mostly, the authors have explained that theconstant exposure to technology (tech natives) has shaped this generation. By the time they grew1
up, the Internet had reached a maturity level that enabled them to make widespread use oftechnology (Bolton et al, 2013). The way Gen Y communicates with technology in general, butin particular with social media have certainly affected those characteristics. This generation isvery digitally focused and at least 43 times a day checks their phones (Rouse, 2017). Socialmedia has become an extremely important part of a millennium, to connect with friends andfamily, as a source of news, entertainment, study and above all shopping. Companies andorganizations are using paid advertisements on social media feeds such as Facebook andInstagram 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. Morespecifically, the Electronic Word of Mouth determines the way that technology and the digitalforms of communication have an impact on customers through several social media platforms(Thorsten et al, 2004). Through these communication channels they express their opinions toothers and evaluate products or services in order to assist in consumers’ decision-makingprocess. In order to understand the dimensions of the social media importance, it must be mentioned thatthe amount of money U.S. companies spend on social media publicity in 2013 was about $5.1billion, 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 commercialscommunicated by businesses is one of the main reasons why social marketing campaigns are2
usually unsuccessful (Zhu, Chen 2015).The main reason that people are using social media, is to connect to a network and exchangeinformation 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 donot manage to reach their audience as they do not consider this type of content. However, the useof content marketing is important in order to attract millennials through social media.