Influencer marketing: the perspective of marketing agencies in the region

Abstract

As the speed of life and circulation of information increases due to globalization and the growing popularity of information technology, the use of social media channels for information transfer is becoming more relevant by the day. This fact makes it difficult to perform an effective marketing strategy which is also reliant on the use of traditional media (e.g. TV). One of the marketing channels which is growing in popularity as effective considering the stated information is influencer marketing. With a worldwide growth of 800% over the last 5 years, influencer marketing has become an essential tool for executing any marketing strategy (Statista, 2022). Social media influencers use their power of persuasion to execute authentic, interpersonal, and credible advertising campaigns with significant reach. However, despite the growing popularity of influencer marketing, not enough research and literature on its use and effectiveness is currently available. Therefore, the aim of this master thesis is to investigate influencer marketing, its potential as an advertising tool, and its current usage by marketers in the Balkan region. With the stated objectives and aim in mind, qualitative research in a form of semistructured interviews has been used. Eight individuals with extensive influencer marketing experience in the Balkan region have been interviewed, and the data collected has been subjected to a thematic analysis with an indicative approach. Using this approach has allowed the data to be presented in a way that allows it to be self-explanatory. Desirable influencer traits and the main challenges in their work have been deduced from the analysis performed. Furthermore, the research confirms that quantitative measurement of influencer-led advertising campaigns is difficult as the results are rather non-tangible and not to be expected in short-run. The findings of the research performed are relevant for active participants in influencer marketing activities and its beneficiaries i.e. marketing agencies, brands, and influencers. The findings can also be useful inputs to policymakers attempting to regulate influencer marketing business model in a way that allows for generation of greater societal benefits.