Influence of social media on digital marketing

Juan Cruz Arocena and Javier Romero

Diginomics, 2022, vol. 1, 36

Abstract: The use of social media has become a central phenomenon in everyday life and in the economic sphere in recent years. Globally, connection time has increased by nearly 60% in seven years, with Latin America being the most active region, reaching an average of 212 minutes per day. Young people between the ages of 16 and 24 led this consumption, with record figures in Argentina exceeding 250 minutes per day. In this context, Instagram has positioned itself as one of the most influential platforms. Created in 2010 and acquired by Facebook Inc. in 2012, the social network has reached billions of monthly active users. In addition to its communicative function, it has facilitated the construction of digital identities and virtual communities, generating a key space within the so-called ‘attention economy.’ Influencers emerged as decisive actors in this digital ecosystem. Defined as opinion leaders capable of establishing close ties with their audiences, they managed to influence consumer behaviour and user decision-making. Studies showed that a high percentage of consumers trusted their recommendations, especially Latin American millennials. Influencer marketing evolved from a complementary strategy to a central focus of digital campaigns. Its ability to segment audiences, reduce costs and offer clear metrics led to investment in digital advertising surpassing traditional advertising for the first time in 2020. Thus, social media ceased to be mere communication channels and became economic and cultural ecosystems where influencers played a strategic role.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:dbk:digino:v:1:y:2022:i::p:36:id:1056294digi202236

DOI: 10.56294/digi202236

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