Haenlein, M., Anadol, E., Farnsworth, T., Hugo, H., Hunichen,J., & Welte, D. (2020). Navigating the New Era of Influencer Marketing: How to be Successful on Instagram, TikTok, & Co. California management review,63(1), 5-25.
According to the authors of this article, influencer marketing was valued at $10 billion in 2020. It was also noted that the industry is continuously growing and increasingly becoming relevant in the marketing efforts of companies in different sectors. This trend is common in companies operating in a business-to-consumer model. It was noted that firms from other sectors such as beauty, travel, food, fashion, and beverage have not put much emphasis on conducting marketing campaigns that do not include a collaboration with popular users on platforms such as Facebook, Twitter, YouTube, Instagram and, TikTok. Each of these platforms have specific way of Influencer-follower engagement. Thus, some campaigns may be more successful on one platform than the other. Therefore, a careful analysis of each of these social media platforms is necessary. The authors have also realized that very few managers have an understanding on how these platforms can be used to get the most out of a marketing campaign. A majority of these marketing managers have a better understanding of planning and executing a marketing campaign in the traditional media channels and therefore, find it difficult to manage the same in a dynamic environment. The goal of this article was to provide guidance on the social media platforms. The authors went further to disclose how social media influencers can be used for marketing campaigns on the platforms. The authors further provided a checklist of questions that can be used by marketing managers when choosing the type of social media influencers for the marketing campaign collaboration.