Video Influencers: Unboxing the Mystique

Abstract

Influencer marketing has become a very popular tool to reach customers. Despite the rapid growth in influencer videos, there has been little research on the effectiveness of their constituent elements in explaining video engagement. We study YouTube influencers and analyze their unstructured video data across text, audio and images using a novel “interpretable deep learning” framework that accomplishes both goals of prediction and interpretation. Our prediction-based approach analyzes unstructured data and finds that “what is said” in words (text) is more influential than “how it is said” in imagery (images) followed by acoustics (audio). Our interpretation-based approach is implemented after completion of model prediction by analyzing the same source of unstructured data to measure importance attributed to the video elements. We eliminate several spurious and confounded relationships, and identify a smaller subset of theory-based relationships. We uncover novel findings that establish distinct effects for measures of shallow and deep engagement which are based on the dual-system framework of human thinking. Our approach is validated using simulated data, and we discuss the learnings from our findings for influencers and brands.

Keywords: Influencer Marketing, Video Advertising, Social Media, Interpretable Deep Learning, Transfer Learning

JEL Classification: M31, M37