What Is A Social Media Influencer? (Ep. 1) | Forbes

Social Media Influencers: The Business of Influence

Key Concepts: Social media influencer, monetization, micro-influencer, mid-level influencer, macro-influencer, supply and demand, brand building.

Defining a Social Media Influencer

• Definition: A social media influencer is someone who can influence a large number of people, effectively brand themselves, and monetize their influence.
• Example: The desire to purchase an item (e.g., a shirt) simply because an influencer is wearing it.

Case Studies: Influencer Journeys

• Baby Ariel (Ariel Martin): Started creating content in late 2010, focusing on dance, sketches, and vlogs. At 16 years old, she has a significant following across multiple platforms:
  • Musically: 188 million followers
  • Twitter: Almost 600,000 followers
  • Instagram: Approximately 6 million followers
  • YouTube: 2 million followers
• J: Started about 6 years ago on Tumblr, leveraging a large following to create a network of accounts (e.g., "fa guardan," "the pizza account," "Kanye doing things," "crispy shorts"). This network now comprises around 20 accounts with approximately 30 million unique followers.

Influencer Tiers: Micro, Mid-Level, and Macro

• Micro-Influencer: 5,000 to 100,000 followers.
• Mid-Level Influencer: 100,000 to 1 million followers.
• Macro-Influencer: 1 million+ followers.
• Opportunity: The opportunity lies in the micro-influencer and mid-level influencer tiers.

The Reality of Being an Influencer

• Hard Work: Contrary to the perception that it's easy, being a social media influencer requires a lot of hard work.
• Tough Career: It's a tough career and a tough life.
• Accessibility vs. Success: Social media is open to anyone driven and passionate, but success is not guaranteed.

The Economics of Influence: Supply and Demand

• Supply Issue: There is a large supply of attractive, funny, and smart people.
• Impact on Economics: When brands can choose from a vast pool of potential influencers (e.g., 700,000 fitness models), the economics change.

Monetization on YouTube

• Multiple Revenue Streams: There are several ways to make money on YouTube.
• Significant Income: Over 50% of YouTube channels generate over six figures.
• Brand Currency: The currency is its brand.

Conclusion

The path to becoming a successful social media influencer involves hard work, dedication, and effective brand building. While social media platforms are accessible to all, the increasing supply of potential influencers creates a competitive landscape where standing out and monetizing one's influence requires strategic effort. The opportunity lies in understanding the different influencer tiers and building a strong brand that resonates with a specific audience.