Secure your influencer bag!
New to the influencer marketing game? You may be stuck wondering effective ways you, too, can make legitimate money by being an influencer. We’re here to tell you that it is totally possible to create an income stream and career as an influencer. We first want you to know what you’re options are. With the knowledge of knowing different ways you can earn money as an influencer, you can begin to take the proper steps on how to do it. Getting setup the right way is everything and could have a better impact on your success as an influencer.
Now, it’s no secret that this journey most definitely has its trials and errors, but the more consistent you are with trying to get better at it, the better you’ll become. And as you elevate in your career as an influencer, the opportunities to secure your bag you can take.
Let’s crunch the numbers.
Are you ready to learn four different ways you can make money as an influencer? Great! But first, let’s see the average income an influencer makes. According to Fox Business, the average influencer can take home anywhere from $30,000 to $100,000 per year by promoting products like clothing, food, hotels, and even vitamin supplements on their pages. It’s also known that users with more than 1 million followers can make more than $100,000, or even up to $250,000, per sponsored post, according to a 2018 Vox report. With consistent content production and awareness of different ways you can promote brands and influence, the amount of money you have the potential to make is limitless!
4 Ways to Make Money As An Influencer
Sponsored content posts
Everyone is done to make easy money. When it comes to influencing, an easy way to make money through social media is by creating sponsored content. Sponsored content is simply content that a brand has sponsored. This is by either paying you to create the content or to provide a product for you to promote. Because influencers have a major impact on their audience and most likely a loyalty relationship established, brands find this intriguing. It helps them get connected and exposed. In order to do this, they partner up and collaborate with an influencer to create sponsored content posts. These posts help get the word out about their brand, products, and/or services.
The most important key components to landing deals with brands focused on sponsored content posts are engagement. A lot of people think it’s all about follower count and the reach you have. Not at all; this type of partnership relies heavily on engagement. Engagement drives the connection, loyalty, and trust between the influencer and their audience. Which is what brands need, especially if they’re new to the business.
Some influencers struggle with this way of making money because they feel subjected to promote what they may not like. This is possibly the worst mistake you can make as an influencer because what you say goes for your audience. If you’re promoting a makeup product you don’t believe is great quality, how can you expect your audience to trust you? Especially after they followed your lead and spent their money on something you received for free? Think about it like this; if you wouldn’t buy it with your own dollars, don’t promote it! Keeping this in mind and prioritizing the engagement with your audience will help you be successful in making money with sponsored content posts.
When you talk about affiliate marketing, you are truly talking about partnership. You can think about affiliate marketing like this; whenever the brand you work with makes money, you make money. Affiliate marketing can also be great to be considered as a referral way of marketing. Most of the time, brands provide a specific link or customized code that an influencer’s audience can use to purchase a product. With a code that provides them discounts, which is trackable and unique to the influencer, an influencer can earn money based on someone making a purchase. It’s a total win-win situation. Affiliate marketing is more invested in making sales versus building a following or awareness, which is true branding. It’s really all about the sale. Once a purchase has been made, that influencer receives a certain amount or percentage as a commission.
A lot of times, you can become a part of an affiliate program and find them on most merchant and brand websites at the bottom. You can reach out by completing a form or application, or some programs allow you to join immediately without additional approval. The perks of being a part of an affiliate program are the possibility of having a higher payout, and there’s no limit to how much you can make since it is based on referrals. It’s also a perk to helping your audience because you benefit them by offering a cheaper way to pay for products they love with a discount code and will always come back to you for more and remain loyal. A couple of brands that offer affiliate programs are Amazon, Target, Fiverr, and so many more. You can check out different ones here.
Brand ambassador programs
Let’s not forget that even though engagement is key, reach is still very important and can be a total game of numbers. With the right numbers, brands can show major interest in you by hiring you as a brand ambassador. Brand ambassadors have a major impact on a brand and their exposure as they are considered representatives of brands. It’s important to know that if you are an influencer looking to become a part of a brand ambassadorship that your brand represents and impacts their brand because you’re representing them. Knowing this will set your expectations based on if you want to work at becoming a brand ambassador or not. Sometimes you have to show up at events, do lives, and a lot more versus what you want to do on your own terms. Want to know the best part? Being a brand ambassador allows you to experience new opportunities and income streams for those who desire to work independently as a contractor, which are most millennials today, versus working a corporate lifestyle. It’s the real deal and a total official way to make money as an influencer, whether part-time or full-time!
Don’t limit yourself.
There’s real money to be made out here in these influencer streets. If you’re wondering about different outlets and which is the best based on the type of influencer you are or your influencer status, looking into these different ways to make money can definitely help. How do you plan to make money as an influencer?