Modeling Influencer Marketing Campaigns In Social Networks
- URL: http://arxiv.org/abs/2106.01750v1
- Date: Thu, 3 Jun 2021 11:01:06 GMT
- Title: Modeling Influencer Marketing Campaigns In Social Networks
- Authors: Ronak Doshi and Ajay Ramesh Ranganathan and Shrisha Rao
- Abstract summary: More than 3.8 billion people around the world actively use social media.
In this work, we present an agent-based model (ABM) that can simulate the dynamics of influencer advertizing campaigns.
- Score: 2.0303656145222857
- License: http://creativecommons.org/licenses/by-nc-nd/4.0/
- Abstract: In the present day, more than 3.8 billion people around the world actively
use social media. The effectiveness of social media in facilitating quick and
easy sharing of information has attracted brands and advertizers who wish to
use the platform to market products via the influencers in the network.
Influencers, owing to their massive popularity, provide a huge potential
customer base generating higher returns of investment in a very short period.
However, it is not straightforward to decide which influencers should be
selected for an advertizing campaign that can generate maximum returns with
minimum investment. In this work, we present an agent-based model (ABM) that
can simulate the dynamics of influencer advertizing campaigns in a variety of
scenarios and can help to discover the best influencer marketing strategy. Our
system is a probabilistic graph-based model that incorporates real-world
factors such as customers' interest in a product, customer behavior, the
willingness to pay, a brand's investment cap, influencers' engagement with
influence diffusion, and the nature of the product being advertized viz. luxury
and non-luxury.
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