Does audience size matter? The role of macro- vs. micro-influencers in driving purchase intention across generations and product involvement levels

Abstract

This dissertation explores how influencer segmentation based on follower count, which differentiates between macro- and micro-influencers, affects purchase intention. Additionally, it examines whether generation (Gen Z vs. Millennials) and product involvement (low vs. high) moderate the relationship between influencer type and purchase intention. A quantitative approach was adopted using an online questionnaire, where participants were exposed to one of four different influencer-product combinations. Analysis of 156 valid responses suggested that influencer type alone did not significantly influence purchase intention. However, product involvement was found to be a critical factor. Both macro- and micro-influencers were more effective in promoting low-involvement products, while their influence was weaker for high-involvement products. Generational differences also failed to moderate this relationship, suggesting that Millennials and Gen Z respond similarly to influencer marketing. These findings suggest that brands should look beyond influencer size when developing influencer marketing strategies. As consumers become increasingly skeptical, partnering with influencers who align with their audience's valuesis crucial. Additionally, brands should always consider the type of product promoted and how consumers perceive it, adapting their communication strategies accordingly. Future research could explore alternative audience segmentation factors. Furthermore, a comparative approach across multiple social media platforms could provide insights into how influencer effectiveness differs.

Date of Award	29 Apr 2025
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Paulo Romeiro (Supervisor)