Navigating the New Era of Influencer Marketing: How to be Successful on Instagram, TikTok, & Co.

TLDR

Influencer marketing is a $10 billion industry that dominates fashion, beauty, travel, food, and beverage advertising, yet many firms lack sufficient knowledge of platforms like Instagram and TikTok to make effective decisions. The article aims to introduce the most critical influencer‑marketing platforms and guide firms on how to engage them. It offers practical advice and key questions for selecting suitable influencers to collaborate with.

Abstract

Influencer marketing represents a $10 billion industry in 2020 and is becoming of increasing relevance for many firms, especially those operating in a business-to-consumer environment. Few firms in the fashion, beauty, travel, food, or beverage industries are running marketing campaigns these days that do not include, at least to some share, a collaboration with popular users on platforms such as Instagram and TikTok. However, many marketing managers still have a less than adequate understanding of those platforms compared with their knowledge of more traditional media channels and often find it hard to make the right decision in this fast-moving environment. To provide some guidance in this respect, this article aims to give an introduction to the most critical platforms for influencer marketing. It then presents advice to firms who want to engage in influencer marketing as well as specific questions on identifying the right influencers to collaborate with.