Business Overview

As traditional media declines and social media emerges, marketers are increasingly incorporating social media influencer marketing into their strategies. Ste Davies reports that this is both a smart and popular advertising strategy, with 94 percent of marketers saying it’s effective and an increasing number of companies planning on using it through 2020.

Marketers pay social media influencers because they’re the gateways to their followers. When stars on Facebook, Instagram and other platforms post about a company’s service or product, followers see and engage with whatever is being promoted.

Who is this business right for?

Anyone who enjoys spending time on social media platforms and is passionate about a particular niche might enjoy being a social media influencer. Influencers must know and love their niche, for they talk about it constantly on the platforms they use. They also have to like social media itself, as they’ll be spending hours on it day after day.

What happens during a typical day at a social media influencer business?

The most time-consuming aspect of running a social media influencer business is creating original content. After coming up with an idea, actually producing content might require creating a meme, staging a photo, or making a video. Influencers might occasionally post a quick update that doesn’t require much planning, but more intentional posts are needed on a regular basis to keep a loyal following.

When not creating original content, influencers spend their time curating and reposting others’ content, interacting with followers and finding marketers to work with.

What is the target market?

Social media influencers try to appeal to as wide an audience within their niche as possible. Marketers who hire social media influencers may sometimes ask about the demographics of an influencer’s followers, but the sheer number of followers is usually more important.

How does a social media influencer business make money?

Social media influencer businesses usually charge marketers for posting about a company’s services or products. Marketers might purchase a one-off post or set up a more lengthy campaign that involves several posts.

In some cases, influencers may receive a commission for every pre-defined engagement that a post leads to. Such a commission usually replaces a posting fee.

What is the growth potential for a social media influencer business?

One of the metrics closely followed in this type of marketing is the number of followers a social media influencer has. The most successful have millions of followers. For example, Zach King, and Huda Kattan have over 20 million Instagram followers. The smallest influencers have at least 5,000 followers.