Preprint Article Version 1 This version is not peer-reviewed

The Attention Economy: How Social Media Influencers Are Redefining Marketing Engagement

Version 1 : Received: 19 August 2024 / Approved: 20 August 2024 / Online: 20 August 2024 (12:41:17 CEST)

How to cite: Czaja, M.; Dzik-Walczak, A.; Kopczewski, T.; Urban, B. The Attention Economy: How Social Media Influencers Are Redefining Marketing Engagement. Preprints 2024, 2024081443. https://doi.org/10.20944/preprints202408.1443.v1 Czaja, M.; Dzik-Walczak, A.; Kopczewski, T.; Urban, B. The Attention Economy: How Social Media Influencers Are Redefining Marketing Engagement. Preprints 2024, 2024081443. https://doi.org/10.20944/preprints202408.1443.v1

Abstract

Our study is part of the ongoing discussion concerning influencer marketing as there seems to have been a shift and social media marketing is bigger than ever. Social media outlets are excellent vehicles for fostering relationships with consumers who can be susceptible to influencer advertising. Therefore, companies now pay for posts on users’ profiles to generate popularity for products. How this approach affects consumers’ buying behavior is an interesting research question. We reference Herbert Simon’s economics of attention as an appropriate theoretical construct for describing the reality of the internet. Based on unique survey data from 513 Polish respondents, the study applies econometric methods and supervised and unsupervised machine learning techniques to identify the primary consumer groups with different characteristics of engagement and sensitivity to influencer activities, revealing the possible drivers of purchase intent. The findings provide valuable insights into consumers’ informational preferences, demonstrating how social media influencers may attract attention and drive sales.

Keywords

attention economics; influencer marketing; purchase intent; unsupervised learning; random forest; logistic regression

Subject

Business, Economics and Management, Marketing

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