Navigating the New Era of Influencer Marketing: How to be Successful on Instagram, TikTok, & Co.
Abstract
Social Media Platforms for Influencer Marketing
YouTube | TikTok | ||||
---|---|---|---|---|---|
Characteristics | |||||
Parent company | Facebook, Inc. | Twitter, Inc. | Google LLC | Facebook, Inc. | ByteDance, Ltd. |
Launch date | February 2004 | March 2006 | February 2005 | October 2010 | August 2018 |
Media format | Text, image, and video | Text | Video | Image and video | Video |
Current usage | |||||
Active users (April 2020, worldwide) | 2,498 million | 386 million | 2,000 million | 1,000 million | 800 million |
Session duration (September 2019, the United States)a | 4.8 minutes | 3.5 minutes | 13.2 minutes | 3.0 minutes | 10.9 minutes |
Monthly sessions (September 2019, the United States)b | 160 | 45 | 52 | 69 | 46 |
Monthly sessions × Session duration | 12.8 hours | 2.6 hours | 11.4 hours | 3.5 hours | 8.4 hours |
Average age (May 2020, the United States)c | 40 years | 42 years | 34 years | 27 years | |
Users posting weekly (2019, the United States) | 53% | 46% | 16% | 36% | |
Satisfaction Index (2019, the United States) | 63 | 69 | 78 | 72 | |
Top 3 usage reasons (2019, the United States) | Keep in contact with friends and family; get entertainment; get news | Get news; get entertainment; keep in contact with friends and family | Get entertainment; get news; follow brands/companies | See what friends/family are up to; kill time when bored; keep in touch with friends and family | |
Change in user behavior | |||||
Change in engagement (2017-2019, the United States)d | –26% | +13% | +6% | +1,533% | |
Considered leaving (2019, the United States)e | 29% | 11% | 5% | 12% | |
Influencer marketing | |||||
Cost per post (2019, the United States) | $395 | $422 | $6,700 | $1,643 | |
Most effective content (2019, the United States) | 23% | 18% | 56% | 78% | |
Plan to increase (2019, worldwide) | 51% | 35% | 62% | 69% |
Four Pieces of Advice for Firms Engaging in Influencer Marketing
Understand that Each Platform Has Its Own User Culture and Language
Realize that Influencer Marketing Is Often More than Booking a Post
Choose When to Use Micro versus Macro Influencers
Avoid Managing and Briefing Influencers too Closely
Four Questions to Choose the Right Influencers
What Is an Influencer Anyway?
Who Is Ready to Do Whatever It Takes?
Where Are the Influencers Genuinely Passionate about Your Industry?
Which Platforms to Use to Reach Your Base?
Outlook and Conclusion: What Will the Future Bring?
Changes Due to the Strategic Behavior of Platform Owners
Changes Due to the Authentic Self-Presentation of Influencers
Changes Due to COVID-19
Changes Due to Regulation
Footnotes
Appendix
A Beginner’s Guide to Instagram and TikTok
Biographies
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This article was published in California Management Review.
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