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Over the past few years, the popularity of social media influencers (SMIs) has been growing exponentially, making influencer marketing (IM) prevalent in firm strategies. Despite the mounting interest of researchers and practitioners, the resulting scholarly work remains divergent, partial and fragmented. In light of the pivotal role of SMIs on the consumer decision journey and as this research domain is still developing, a comprehensive and critical overview of extant research on this topic is sorely needed. In response, this paper is the first to consolidate the present state of research on IM within social media settings. More specifically, a systematic review of relevant studies published in peer‐reviewed academic journals across diverse fields was conducted in order to identify key themes and dominant concepts. The analysis of 68 articles from 29 Chartered Association of Business Schools‐ranked journals forges a …