【摘要】 随着公域市场的饱和以及营销成本的上升，商家正逐渐转向私域营销模式。商家可以通过私域社群向消费者发布广告，吸引消费者点击购买。社群一般会聚拢相似消费者，相似性可以通过提高信任促进消费者的购买意愿。但是社群消费者会同时接收来自商家和其他消费者的信息，这可能导致消费者面对过量信息。面对信息过载消费者会产生逃避行为，社交商务效果下降。尽管已有研究已经考虑了消费者购买的内在因素和商家的广告策略，但鲜少研究深入探讨消费者间的社交行为如何影响购买决策。基于国内一家私域平台的实证数据，本研究深入分析社群广告对消费者购买意愿的作用及私域社群中消费者互动的影响。通过运用倾向得分匹配和多时点双重差分模型，探究了社群相似性和互动对消费者购买意愿的影响，并利用中介分析确定影响机制，即从广告形式显著性、内容多样性和主题契合度三个方面探索广告异质性在这一过程中的调节作用。研究结果表明，私域社群可以促进消费者的购买意愿，信任在私域社群对消费者购买意愿的促进中起到了中介作用。但与产品无关的题外高社交互动会导致信息过载、消费者注意力分散，从而抑制购买意愿的促进效果。此外，研究还发现广告形式和内容的多样性以及主题契合度能缓解与产品无关的题外高社交互动带来的抑制作用。考虑了私域中消费者之间的相互影响，揭示了相似吸引和信息过载导致的注意力竞争对购买意愿的影响，这既拓展了私域社群的研究，也为商家提供了私域营销的具体策略和建议，对企业管理社群运营具有现实的指导意义。更多还原

【Abstract】 As the public-domain market becomes increasingly saturated and marketing costs continue to rise, businesses are gradually shifting their focus towards private-domain marketing strategies. Through private-domain communities, businesses can release advertisements to consumers, encouraging to click and purchase. Typically, community gathers consumers who share similar characteristics, and this similarity can enhance consumer trust, thereby increasing the likelihood of consumers′purchase intentions. However, within these communities, consumers are not only exposed to information from merchants but also receive input from other consumers, which may lead to information overload. When faced with an excessive amount of information, consumers often exhibit avoidance behaviors, which, in turn, results in a decline in the effectiveness of social commerce. Although previous research has considered intrinsic factors influencing consumer purchases and the advertising strategies employed by merchants, there has been a noticeable lack of exploration into how social interactions among consumers themselves impact purchasing decisions.Drawing on empirical data from a domestic private-domain platform, this study conducts a comprehensive and in-depth analysis of the impact that community advertisements have on consumer purchase intentions, as well as the role that consumer interactions within private-domain communities play. By employing sophisticated methods such as propensity score matching and a multiple time-point difference-in-differences model, the research delves into the effects of community similarity and interaction on consumer purchase intentions. Furthermore, it identifies the underlying mechanisms at play through detailed mediation analysis. In addition to these primary findings, the study also examines the moderating effects of advertisement heterogeneity on purchase intentions, with a specific focus on the prominence of advertisement formats, content diversity, and thematic relevance.The research findings indicate that private-domain communities can enhance consumers′ purchase intentions, with trust serving as a mediating factor in this process. However, it was also observed that high levels of unrelated social interactions within the community could lead to information overload and a subsequent distractibility of consumers, thereby diminishing the positive impact on purchase intentions. Additionally, the study revealed that the diversity in both advertisement formats and content, as well as thematic relevance, can alleviate the inhibitory effects caused by unrelated high-frequency social interaction.These elements were found to effectively mitigate the negative impact of such interactions on consumer purchase intentions.By taking into account the influence of consumer interactions within private domains, this research uncovers how similarity attraction and information overload can lead to attention competition, ultimately affecting purchase intentions. The study significantly expands the existing body of research on private-domain communities and offers merchants specific strategies and actionable recommendations for improving their private-domain marketing efforts. These insights are of considerable practical significance for businesses, particularly in managing community operations and enhancing overall marketing effectiveness within private domains.更多还原