It’s no secret that social media influencers rule the roost when it comes to marketing these days. Word of mouth is no longer friends and family, but your internet family of several million.
But how does it work? How do influencers make money?
Let us enlighten you as to why influencer marketing is the talk of the town, why it’s so popular, what it can do for you and how you can get in digital marketing.
What is an influencer?
In short, a social media influencer is a person or persons who has several thousand, tens of thousands, hundreds of thousands or even millions of followers on platforms such as Instagram, Facebook and YouTube – plus countless more.
How do they make money?
Influencers are generally paid to mention or feature brands and/or products on their social channels.
Prices vary, but a big brand will pay from £5,000 to £250,000 for three pictures from a major influencer, and £10,000 to £20,000 is normal for a post if the audience is right. They may have commission links for products too. Every product bought via their social channels could earn them a small amount of money that eventually adds up.
They may also have sponsorships with brands, more like a salaried role of featuring their products and generally being a brand ambassador.
Occasionally they are paid in reciprocal value rather than cash. For example, holidays, experiences, clothing, products, sponsored events etc.
