How Much Money Can You Make as An Influencer?

We are seeing a strong increase in influencer marketing these days. Is it possible to become a full-time influencer and still be able to pay your bills?

What is your product?

As an influencer, your product is your audience.

Brands pay to get in front of your audience - this is why it's so important to be crystal clear on who your audience is. If a brand isn't sure of your audience, why would they waste money promoting to the wrong people?

There are several revenue stream opportunities for influencers: 

Advertising 

This can include branded content sponsored posts on your blog, Instagram, YouTube or other social channels. The benchmark rate is about $100 per 10,000 followers, though this is not set in stone. 

Affiliate Marketing

This is where you promote a brand's product and receive a commission if your audience buys through your personalized link. 

Products

There are two types of products - physical and digital. Physical would include something tangible like jewelry, while digital can include things like online courses, membership programs, or design presets.

Services

Social media management, styling, or coaching are all examples of services.

Events

Influencers can actually get PAID to attend events! Who wouldn't want to make money at a fun event? You can also host your own event based on a product or service and earn money through commissions and sponsorships.

How long will it take to make money?

You can begin receiving product almost immediately - the AMOUNT of money you'll make will vary. Brands do look at followers, so generally the bigger your following the more you can charge.  

The ONE thing to do if you want to monetize your influence

The one thing you should do if you want to monetize your influence is thinking of it as a business. This means that you'll have to make a commitment and putting in the TIME.

Focus on your business model as well - which revenue streams will you focus on? How long will it take you to develop your product?

Now it's up to you - are you ready to monetize your influence?