The Mass Adoption of Social Networks have provided brands with platforms to advertise and market their products and services. It has given birth to a popular form of digital marketing known as the Influencer Marketing, where businesses use an individual with a strong audience to influence the purchasing power and decisions of consumers.
This has birthed a new way of earning a living, where as influencers have turned into a full-time professional. An Influencer partners with brands that are relatable to their audience and endorse the said brands’ products and services. They review the products and services in a positive manner, which in turn entices their audience to purchase and use the brand.
According to a survey done by Smart Insights, Influencers make their money through Sponsorships, Sponsored Contents, Sponsored Social Media Content, Free products, Endorsements Deals, Brand Representative Agreements , Consulting, Affiliate Marketing, Speaking/ Guest Appearances, Meet & Greets, Branded Merchandise, Youtube Ads, TV/ Radio Shows Appearances, Book Deals, Crowd Funding and so much more.
Influencers now have tools like Facebook, Instagram and Youtube to share their content and grow their followers and fan base. Some are paid per every content post about the brand to a tune of thousands of dollars. These influencers are advocates for the brands and some even rise to become official spokespersons. Influencers can be bloggers, social media stars, Thought leaders, customers, Celebrities and even Industry leaders.
The people belonging to this particular group of influencers use their blogs and websites to influence their audience on different brands. Successful bloggers like Gary Vaynerchuk, Neil Patel, Thomas Frank, Cristian Mihai and so many more have influenced their audience with the content they post on their blog.
Bloggers earn a living by charging on reblogs they can do, to help up and coming bloggers garner more audience. By Reblogging, a popular blogger re-posts the content of an article by another blogger on his or her website. Then his or her audience will visit the page and see the content and subscribe to it, if preferable. The cost for this type of advertising can be charged on a monthly basis or annually.
They also make money through having their blog content sponsored by a particular brand or business. Some bloggers earn their money through Affiliate Marketing, where as they direct traffic to certain products and services of a particular company by using different links included in their posts. As a result, bloggers earn a commission fee upon every sale made via that link. Amazon Affiliate Marketing Program is the most popular, where bloggers put links leading to a product or service and receive fees when purchases are made.
Some also make money by selling e-books at a particular friendly price. The e-books are based on the content that their audience enjoy and love. These sales have accumulated to hundred thousands of dollars, whereas the number of sales is based on the audience willing to buy and the popularity or relatability of the content.
SOCIAL MEDIA STARS
The increase use of Social Media Networks such as Instagram, Snapchat, Facebook and Youtube has given rise to a nuance of non-traditional celebrities who make money through their online contents.
Instagram star Kayla Itsines and Tammy Hembrow, all ailing from Australia have rose to the status of influential people especially in the fitness industry. Kayla has managed to leverage the fame to launch fitness website and app that for a return of a subscription fee, offers fitness programs to women, to help them become healthy, fit and strong. Her business is now worthy millions of dollars and boost a serving a clientele of over 30 million women.
Tammy Hembrow is also an instagram star who has earns a living through the sponsored posts she does for brands like fashionova, Good Amercan and WomensBest. She has utilized the strong social media presence to build business empires like Saski Collection and Tammy Hembrow fitness which have a strong customer base emunating from her followers.
Stars like Egreis Gjergjani have also leveraged Instagram to earn through sponsored posts and create successful clothing and shoe apparel lines to carter specifically to Children and Women. Her businesses include IttyBittyToes, ByEgreis and IvyGreis.
Youtube Stars such as Jeffree Star, Michelle Phan, NikkieTutorials, James Charles, Shane Dawson, Jackie Aina, The Ace Family all have benefited from the influencers lifestyle. Jeffrey Star, Nikkie Tutorials, James Charles, Jackie Aina use their Youtube Channels to post content about Makeup Tutorials and sometimes vlogs their lifestyle.
Shane Dawson uses his Youtube Channel to create more inspirational content, series about different Youtube stars, pranks, conspiracy content and well researched topics for his audience. The Ace Family creates content that is family friendly and fun, which has amassed them a large following base and wealth.
These Youtube Stars earn their money via ads that are featured on the videos, through number of likes they receive per video and monetization analytics built on the platform. The have used their firms to create multi million dollar businesses such as The Jeffree Star Cosmetics owned by Jeffree Star which is a beauty brand featuring lip glosses, make up brushes, palettes, lipsticks and so many more.
A large source of their Income is also generated by the Merchandise they sell to their fans. Popular Merchandise or “Merch” as fans call it include the line of hoodies, bags, t-shirts such as The Ace Family Merch, Jeffree Star Merch, Shane Dawson Merch, which instantly sell out upon release.
They also generate income through endorsement and deals to partner with popular brands to create products. Jackie Aina partnered with well knowned make up brand Too Faced to expand the Born This Way Collaboration in 2018, also in 2019, she partnered with Anastasia Beverly Hills to release a palette she curated for them. These endorsement deals enable influencers to pocket millions of dollars in revenue.
They also generate income through affiliate marketing, through linking products and services they use on the description box below their videos. This enable them to earn fees upon sales are made from such links.
Celebrities become influencers based on the massive following and loyal fan base they have amassed from respective careers. Whether they are music artists, movie stars, reality tv stars, political figures, brands prefer to use them due to their direct access to a following that have potential to become consumers.
A-List Movie stars like Gwyneth Paltrow have generated successful businesses based on their lifestyle, and along the way influenced people to buy into it. Gwyneth is the owner of the lifestyle brand Goop which is committed to offer advice on wellness tips, lifestyle hacks and even healthy food choices. Goop has grown into a million dollar brand with it’s influence surpassing the Hollywood Hills. Jessica Alba used her influence on social platform to create The Honest Company, which specializes on making products that are eco-friendly and safe. This business has grown into a billion dollar business since it’s inception in 2011.
Kylie Jenner has used fame to create billion dollar beauty empire Kylie Cosmetics, which primarily sold their products online. The beauty guru also makes money through her social media posts which rakes in roughly upto $100,000 or more per post. They also get paid by different brands to advertise their products to their massive fan base.
This set of influences are opinion leaders and well informed individuals in their area od expertise. Thought Leaders such as Dave Ramsey, Jon Gordon, Gary Vaynerchuk, Simon Sinek, Tony Robbins all make their living as influencers in their field of Industry.
They earn money through their speaking engagements, online programs and tutorials they offer to their clients and also books that they publish. Most of their content are directed towards motivating people to work harder and also be great leaders in their particular disciplines. Their books normally achieve the best selling status on world top lists, and end up being published in different languages to reach more audience.
The Influencers Pool is expanding exponentially on a daily basis. More millenials are choosing it as a career, due to the lifestyle it promises. If you are a successfully influencer, chances are, you do not work a 9 to 5 job, you create your own working hours, you travel frequently and mostly on expenses paid trips, you have access to luxurious brands of products and service for free most of the times as a gift or for a return of endorsing it. As more people stay glued on the internet, more and more types of influencers emerge and even more set of wealth is available to tap into. All they have to do, is convince you into their way of thinking, lifestyle and most importantly buy into whatever they are using.