Entrepreneurial influencers and influential entrepreneurs: two sides of the same coin

Abstract

PurposeDrawing on push and pull entrepreneurship theory, this research investigates how and why social media users become social media influencers (SMIs), a specific type of digital entrepreneur.Design/methodology/approachAdopting a phenomenological perspective and following a process approach, a total of 35 semi-structured face-to-face interviews were conducted with SMIs of different ages, follower numbers and associated with diverse areas of expertise. Subsequently, via interpretative analysis of interviewees' narratives and reasons for becoming SMIs, relevant motivations and events were uncovered and described.FindingsThe findings showcase two types of SMIs: “Entrepreneurial Influencers” and “Influential Entrepreneurs”. Their motivations and the path they followed on their entrepreneurial efforts were also uncovered. Finally, based on these findings, a new entrepreneurial motivational driver is proposed.Practical implicationsPublic entrepreneurial incentive policies should consider SMIs as a specific type of would-be entrepreneurs with some advantage in terms of prominence and reputation, which might help them to successfully initiate and consolidate traditional entrepreneurial activities.Originality/valueThis paper is among the first to examine SMIs from an entrepreneurial perspective, contributing to the nascent digital entrepreneurship literature.

A Taxonomy of Social-Network-Utilization Strategies for Emerging High-Technology Firms

“…Building on the recent and promising literature on social media as enablers of networking [4,8,9], and the perspective of the Uses and Gratifications Theory, our study shows that entrepreneurs use SNS when they seek specific resources, and alternatively use SNS more generally when they seek, for example, to promote their businesses, build trust and reputation, or keep social contacts "warm" in case these are needed in the future. In combination with these different purposes, there will be differences in their networking style (see Figure 2).…”

“…Social networks of entrepreneurs play a crucial role in the success of new venture formation, as they provide access to resources such as key knowledge and resources or financial capital. Technology-based firms are not only handicapped by the dynamic and fast-changing environments they work in, but entrepreneurs are often in need of specific skills and knowledge that are scarce or difficult to obtain due to the uncertainty and newness of their market [1][2][3][4]. Thus, through their social networks, entrepreneurs have access to a specific and unique set of skills.…”

“…With the 4th industrial revolution, the digital affordances of some virtual platforms such as social networking sites have made it possible for individuals to leverage their social networks and overcome challenges to maintain and develop networks in their traditional form [6][7][8]. Despite this, our knowledge of how entrepreneurs undertake this task remains limited; see, e.g., [4,[9][10][11].…”

Entrepreneurs as influencers: the impact of parasocial interactions on communication outcomes

“…From an entrepreneurship perspective, SMIs can be understood as entrepreneurial influencers : Social media users whose business model has evolved because of their popularity on social networks and the market request of companies that engage in influencer marketing (Guiñez-Cabrera and Aqueveque, 2022; Gustafsson and Khan, 2017; Lee and Theokary, 2021). On the other hand, influential entrepreneurs are traditional entrepreneurs and, at the same time, social media users with a significant reach who are motivated to share content as they wish to enhance the success of their own companies.…”

“…In contrast to SMIs, these entrepreneurs do not act as third-party actors for other brands but share content to enhance the success of their own company, while maintaining a significant reach on social media. To clarify this distinction, Guiñez-Cabrera and Aqueveque (2022) have coined the terms entrepreneurial influencers and influential entrepreneurs.…”