Their number of followers spots social media influencers. This class of marketers produces good quality content, typically trapping a good amount of money, trendy outstanding outfits, exotic locations. It is quite a surprise for you to know how much money they are making!
The answer to this surprise is they play the game smartly.
In 2018, jaw-dropping figures came up when the surveys were done, and some influencers were reported to have $18 million to $36 million as their yearly earnings. Brittany Hennessy, the writer of the influencer, said that it is really difficult to toss a rock and build your brand in New York City. Influencers work for famous designers and are also buyers at designer fashion shows, and are invited to parties across the cities. There is a lot of money involved in this.
Also, some families are making $20000.There are famous influencers that demand more than five-six figures for brand campaigns, but the beginners who are just starting can earn a hundred thousand dollars which is also a good amount.
The market has changed with the advancement in technology. Banner ads and video pre-rolls are eating the market. You will be shocked to know that the brand investing in influencer marketing is expected to hit more than $100 billion. This is all because of the strategies used by the marketing companies. This also promotes the trend in the form of #mirrorselfies and #streetstylepics.
What can an influencer charge- math behind it?
Brands and influencers are tight-lipped about their money, leaving their audience to think about how they make so much money that they can afford such a lifestyle. There are all strategies behind it. Today the judgment of the price structure starts with the follower’s count.
A basic rate of almost one percent of followers counts sponsored posts, or to say that $ 100 for every 10,000 followers makes the sixth law for marketing professionals and the founder of an influential platform.
This means that someone who has 100000 followers can start with $1000 per sponsored post. On the other hand, the influencer with a million followers could charge $10,000. It all depends on the rule of thumb of the industry.
If you do sponsor posts once a month, you’ll be making $100,000 a year, which is a lot more than those who do a full-time job.
Some people left their regular job positions and pursued such a lifestyle. They are editors in-country magazines, and they create their content from their lavish lifestyle. These moments are a ‘made it’ moment in the influencer’s life.
Influencer Lindsay Silberman says that she used to get offers from different brands, but she chose to create her own content and that it would be fiscally irresponsible to get through it.
After six months, she earned more than six figures, which was more than she earned by doing a regular job.
One more factor determines which is beyond the follower’s count, and that is rates. It includes the quality of the content, the audience’s demography, engagement, skillset, etc.
In Hennessy’s book, there is a breakdown of rates shown, and it starts with $250 to $2000, for the influencers having followers count of 10,000 to 90000, if they are doing a sponsored post, and it keeps on rising till $7,500 plus those who are having a million or more followers.
Some platforms connect brands with influencers. One such platform is captiv8. This platform has a similar baseline and starts with $8000 for sponsoring.
Instagram posts and increases and reaches up to $75000 for three to seven million followers.
There is a sponsorship that is done quarterly. If your content is of good quality and the rate of engagement of the audience is so high, they can also get paid $30,000.
Every time you decide you follow influencers with million followers, then you have added a blessing to them by paying $1 per campaign for their future earnings. Also, another thing is when you double-tap or comment on fire-filled emoji, and then it adds another.
At the same time, the Instagram algorithm and the companies have become more technologically advanced. They also keep a check on the fake accounts and the bots. Audience involvement has emerged as a desirable measure.
Another way to calculate the marketing rates other than the follower’s count is the cost per engagement (CPE). Engagement is derived by interactions such as leaving a comment, clicks, shares, etc. you can find the engagement rate by adding all the engagements on the post and dividing it by followers count, and multiplying by 100.
Some influencers equate the audience to buy their favorite product, so if you like their comments and like it, share it because this is how the audience does the advertising of the post, and this is how the influencers are successful. This is how the influencers make money and keep doing so.
The micro-influencer next door
Not only influencers, but this shift also has opened the gates for the content creators who may have followers at a small scale but have finally found a specific niche. These micro-influencers have started creating their blogs and content and have engaged the audience and made connections with them.
Also, they have been using keywords that help them to grow their ranking. And the hashtags are the reason for their lavish dinner parties and ticked public events.
Bloggers have turned their jobs to food blogging and private catering, which they are doing full time. Nearly five years of span, Davis has published her self cookbook, which holds more than 50% of her income. This has created opportunities for her from the marketing industries, and her inbox is filled with emails in the past recent years.
In December, she was invited by the Royal Caribbean to highlight their dining alternatives and was paid a huge sum of money for seven days stay for free.
In one of her interviews, she said that her work with the Royal Caribbean was just because of how she engaged the audience. This was a noticeable and commendable job as she talks to people and has a conversation with them daily.
Direct access to the targeted audience for what they have paid in the traditional space is one of the advantages of the brands that seem obvious. According to the marketing software company, the marketing professionals pay less to the content creators than expected to pay. Content creators are expected to charge $471.
Many of these brands are spending money not on influencers but also on media, and these brands see higher engagement rates, and people tend to recognize the influencer by their content which should be more accurate.
There will be a big marketplace of influencers, and they all would be talking about their brands and products and giving services to shape themselves. This is just the beginning for many of us who dream of becoming an influencer. There are no statistics of how many influencers are out there. But whatever it is, these are the facts you need to know about how an influencer becomes rich.