The overwhelming popularity of social media platforms has given birth to a modern way of marketing known as ‘influencer marketing.’
This is a form of marketing where brands use Social media influencers to ‘influence’ the buying habits of others by communicating with people who follow them on online platforms such as Facebook, Twitter, Instagram, and YouTube. These individuals influence the purchasing decisions of their followers in exchange for payment from the brands they are promoting.
More personalities are monetising their social media followings and turning their online presence into full-time jobs every day. They make money in various ways, including creating sponsored posts, hosting webinars, and even participating in influencer marketing and traditional advertising efforts.
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According to the DesignCrew findings, if you have an audience of 100,000 followers, you can make between 2,000 shillings to 7,000 shillings per post in Kenya. However, highly paid influencers like Aziad Nasenya make around 50,000 shillings per tweet and around 100,000 per Facebook post.
So in what ways do they make money?
1. Website Advertising
For decades, just as bloggers have made money from advertisements on their websites, social media influencers with high traffic to their platforms can make a lucrative income from advertising fees. In some cases, bloggers and influencers make money based on visitor clicks, while at other times, they are paid any time the advertisement appears on a follower’s screen.
2. Creating Content for Blogs, Vlogs, and Podcasts
For most social media influencers, followers don’t just show up for everyday stories and posts. It’s not enough for them to post what they ate for dinner or what they thought of the last movie they saw. They have to create content.
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Without the content, they have no following to market products and make money. Social media influencing can be a full-time job for content creators, who often spend hours every day developing posts for their blogs, vlogs, and podcasts.
3. Selling Digital Products
Posting webinars on social media isn’t the only way a social media influencer can market digital products to earn money. E-books and online tutorials can be sold over time from a blog, another website, or a social media platform. Followers interested in learning more about the influencer’s expertise will purchase these digital products, and the sales can accumulate over time.
4. Creating Product Lines
Creating product lines is an increasingly popular way for social media influencers to make money. Many influencers have accumulated large enough followers to market their products. For example, a fashion blogger might develop their own clothing line, either designing their own garments or collaborating with a designer to create product lines. Other social media influencers market various personally-branded products from locations like Facebook, TikTok, Instagram, and YouTube.
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5. Becoming a Brand Ambassador
Many influencers make money by serving as brand ambassadors. Instead of simply promoting a brand through a single sponsored post, the influencer will regularly discuss the company’s products and services to generate overall brand awareness. For example, a brand might periodically pay a social media influencer to post about the brand for 6-12 months. Top fitness influencers generally have several brands they endorse.
6. Events and Appearances
Social media influencers are modern celebrities and therefore have the potential to draw a crowd anywhere they go. An influencer can make money by hosting a live or online event and charging followers to participate. Likewise, another brand might pay a social media influencer to appear at its event, knowing that the celebrity presence will attract a crowd.
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