Eldho Babu

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Abstract:This study examines the burgeoning area of digital entrepreneurship with a particular emphasis on the relationship between social media and entrepreneurial endeavours. A new class of businesspeople known as social media influencers emerged as a result of the growth of social media platforms. These individuals use their knowledge and enthusiasm to build online followings and make money from their material. The research delves into the fast expansion of influencer marketing, which is demonstrated by the notable rise in the market's size and the extensive integration of influencer marketing strategies across diverse industries. The study explores the attitudes and actions that lead people to become social media influencers and entrepreneurs, drawing on academic frameworks including Push and Pull Theory and Persuasion Knowledge Theory. Additionally, it investigates the distinct dynamics of social media and digital entrepreneurship. The study emphasises how social media has revolutionised the Indian business scene, highlighting in particular the rise of micro-entrepreneurs and the democratisation of success made possible by social media platforms. In addition to suggesting directions for future research to further expand our understanding of digital entrepreneurship and influencer marketing in the modern digital era, the study finishes by providing useful implications for influencers, firms, and aspiring entrepreneurs. Keywords: Digital Entrepreneurship, Social Media, Influencer Marketing, Push and Pull Theory, Persuasion Knowledge Theory.  Introduction and Research Background:”Digital entrepreneurship,” which encompasses the influence of social media on entrepreneurial activities, has garnered significant attention in recent years as a stimulating phenomenon for enhancement of entrepreneurial endeavours (Sahut et al., 2021). A novel form of digital entrepreneurship has surfaced as a result of the proliferation of online social media platforms: the social media influencer. This type of entrepreneur raises capital for their business and expands wealth through advancing their area of expertise and passion (Lee & Theokary, 2021). Influencers are first acknowledged by brands. After that, they establish their own brand. These influencers, who previously concentrated on gaining a sizable online following, are now entering the entrepreneurial sphere and developing their brands and businesses in the quick-paced world of content production (Matta, 2023).  The market size of influencer marketing has experienced an enormous surge in recent years, indicating an exponential expansion in the industry. As per Statista (2024), the worldwide market for influencer marketing has experienced a threefold increase since 2019. It is expected to reach an astounding record of 24 billion U.S. dollars by 2024 (see Table 1). This remarkable growth highlights the growing importance and effectiveness of influencer marketing tactics in modern corporate operations. Furthermore, the extensive implementation of influencer marketing campaigns is clarified by findings from a global survey that was carried out in 2024 among a range of stakeholders, including businesses, PR firms, marketing agencies, and other pertinent experts. Findings showed that 37.6% of participants said their companies worked with up to ten influencers, demonstrating the frequency of these alliances (Influencer Marketing Hub, 2024) (see Figure 1). The survey results reveal that a noteworthy 14.7 percent of participants reported engaging with more than one thousand influencers, demonstrating the broad and varied nature of influencer marketing initiatives across many sectors.

Eldho Babu

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