Latest / She's On The Money / The Real Cost of Being an Influencer

Transcript

The Real Cost of Being an Influencer · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
• 0:05
  Speaker 1: Order Kerney Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 1: get started on She's on the Money podcast, I would
• 0:11
  Speaker 1: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 1: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 1: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 1: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 1: the storytelling of you to make a difference for today
• 0:31
  Speaker 1: and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to She's on the Money. It's just
• 1:00
  Speaker 4: me Victoria coming into your ears today for another special
• 1:04
  Speaker 4: Saturday episode. I have been adoring these, so don't expect
• 1:08
  Speaker 4: them to stop anytime soon. Today's chat was sparked by
• 1:11
  Speaker 4: a really intriguing article I read by Jess Graves at
• 1:14
  Speaker 4: the love List titled the Rise of the Edfluencer, the
• 1:18
  Speaker 4: relatability Trap and what creators actually owe you. If you're
• 1:23
  Speaker 4: curious to dive into the article yourself, you might hit
• 1:25
  Speaker 4: a paywall, though there is a free trial if you
• 1:27
  Speaker 4: are keen and you know what, that paywall is actually
• 1:31
  Speaker 4: a perfect segue into one of the key points. Jess
• 1:34
  Speaker 4: makes the reality of content creation as a business and how,
• 1:38
  Speaker 4: just like any other profession, influencers and content creators need
• 1:43
  Speaker 4: to earn a living. She also dives into the wild
• 1:46
  Speaker 4: world of influencer culture, shining light on the tricky type
• 1:50
  Speaker 4: rope influencers walk between keeping it real and making bank.
• 1:54
  Speaker 4: It's all about finding that sweet spot between being genuine
• 1:57
  Speaker 4: and commercial. Plus, it raises the juice se question about
• 2:01
  Speaker 4: whether influencers owe their audiences affordability in what they showcase.
• 2:06
  Speaker 4: Do influencers need to keep things budget friendly or is
• 2:08
  Speaker 4: it fair game to flaunt the finer things in life?
• 2:12
  Speaker 4: The article brought up a really good question for me.
• 2:15
  Speaker 4: Is there a double standard in how we perceive transparency
• 2:18
  Speaker 4: and sponsorships for influencers versus more traditional forms of media.
• 2:23
  Speaker 2: Let's think about it.
• 2:24
  Speaker 4: We don't bat an eye for a thirty second TV
• 2:28
  Speaker 4: spot or a glossy magazine ad, but when an influencer
• 2:32
  Speaker 4: posts a hashtag sponsored photo, suddenly we're all saying, what
• 2:36
  Speaker 4: a sellout. It's almost as if we expect influencers to
• 2:40
  Speaker 4: work for free, even though we're okay with ads in
• 2:43
  Speaker 4: every other part of.
• 2:44
  Speaker 2: Our media consumption on their lowest plan.
• 2:47
  Speaker 4: We're even happy for Netflix to feed us ads when
• 2:51
  Speaker 4: we are already paying for that service. So why do
• 2:54
  Speaker 4: we expect influencers to put hours and hours into producing
• 2:58
  Speaker 4: content for us to con without having any monetary gain
• 3:02
  Speaker 4: for that?
• 3:03
  Speaker 2: Why do we hold them.
• 3:04
  Speaker 4: To a completely different standard to a personality in a
• 3:08
  Speaker 4: TV commercial. Personally, I think it's due to a few things.
• 3:12
  Speaker 4: The first is a failure to recognize that being a
• 3:15
  Speaker 4: person of influence on social media is actually a legitimate
• 3:19
  Speaker 4: form of work. Influencers spend a massive amount of time
• 3:23
  Speaker 4: creating content, shooting their photos, editing videos, writing their captions,
• 3:28
  Speaker 4: getting their captions signed off by the brand that they're
• 3:31
  Speaker 4: working with, and engaging with their audiences. It's a full
• 3:35
  Speaker 4: time job. Often it involves really long hours and significant
• 3:39
  Speaker 4: personal investment. Just like traditional media professionals, influencers they need
• 3:44
  Speaker 4: to earn a living, they need money. Yet there's still
• 3:47
  Speaker 4: the lingering perception that social media content isn't quote real work,
• 3:52
  Speaker 4: and therefore influencers shouldn't be compensated like traditional media personalities.
• 3:57
  Speaker 2: Let's be real here, if.
• 3:59
  Speaker 4: We didn't have these influencers sharing their insights, their style
• 4:02
  Speaker 4: tips and life hacks, our feeds would be a lot
• 4:05
  Speaker 4: less inspiring. It's time that we acknowledge that creating engaging,
• 4:09
  Speaker 4: high quality content is a skill and it is actually
• 4:13
  Speaker 4: a job. The second issue here is the entitlement we
• 4:17
  Speaker 4: feel as their audience. This could be a spicier one
• 4:21
  Speaker 4: to cover. There's this unspoken expectation that because we follow
• 4:26
  Speaker 4: their journey and engage with their content, we somehow have
• 4:30
  Speaker 4: a say in how they should be operating their business.
• 4:34
  Speaker 4: This entitlement can sometimes manifest in really negative ways, like
• 4:38
  Speaker 4: when audiences expect influencers to provide valuable content for free,
• 4:43
  Speaker 4: they criticize sponsored posts and demand personal details about their lives.
• 4:48
  Speaker 4: And finally, there are the impossible standards that we seem
• 4:52
  Speaker 4: to hold influencers to. We expect them to be relatable
• 4:55
  Speaker 4: and authentic, yet always accessible, but also somehow perfect when
• 5:00
  Speaker 4: it comes to their lifestyle choices, that they should showcase
• 5:03
  Speaker 4: affordable products while also living a life of luxury that
• 5:07
  Speaker 4: many aspire to. Influencers are expected to be this perfect
• 5:10
  Speaker 4: role model without making any mistakes, all while navigating the
• 5:14
  Speaker 4: complexities of public scrutiny. This creates an unrealistic and often
• 5:19
  Speaker 4: unfair pressure that can be incredibly challenging to manage. We're
• 5:23
  Speaker 4: about to take a quick break, but stay tuned, because
• 5:26
  Speaker 4: when I come back, I'm going to keel back the
• 5:28
  Speaker 4: layers on these intense expectations and standards that we seem
• 5:32
  Speaker 4: to hold all people of influence to welcome back my friends.
• 5:39
  Speaker 4: I feel like this is a spicier episode that.
• 5:41
  Speaker 2: Required a lot of nuance to put out.
• 5:43
  Speaker 4: So let's dive a little bit further into the expectations
• 5:46
  Speaker 4: that we put on influences, or as I like to
• 5:49
  Speaker 4: call them, people of influence. Jess Graves article dives into
• 5:53
  Speaker 4: the relatability trap, where influencers feel the pressure to stay
• 5:57
  Speaker 4: relatable to their audience even as they climb the ladder
• 6:00
  Speaker 4: of success. Audiences often expect influencers to keep things affordable
• 6:05
  Speaker 4: and accessible, which on a level absolutely makes sense. But
• 6:09
  Speaker 4: as influencers grow and become more successful, their financial situations
• 6:13
  Speaker 4: naturally improve. It's a bit unrealistic, don't you think to
• 6:17
  Speaker 4: expect them to stick to only budget friendly items when
• 6:20
  Speaker 4: their personal taste and purchasing power has evolved over time.
• 6:23
  Speaker 4: Influencers are people too, and their content should reflect their
• 6:27
  Speaker 4: genuine experiences and their personal growth. And let's talk about
• 6:32
  Speaker 4: the economic realities of being an influencer. While I know
• 6:35
  Speaker 4: you're going to scoff at that because you think that
• 6:38
  Speaker 4: maybe influencers have it all, they really do need to
• 6:41
  Speaker 4: make a living and sometimes this means promoting more expensive items.
• 6:45
  Speaker 4: This isn't just about showing off. It's actually part of
• 6:48
  Speaker 4: the business model. More expensive products usually pay better. Just
• 6:52
  Speaker 4: like any other profession, influencers have financial goals and obligations.
• 6:57
  Speaker 2: Think about it this way.
• 6:58
  Speaker 4: If influencers didn't higher end products or take on paid partnerships,
• 7:03
  Speaker 4: then they wouldn't be able to sustain their content creation.
• 7:06
  Speaker 4: It's a job, and jobs need to pay the bills.
• 7:10
  Speaker 4: By understanding and respecting this, we can appreciate the hard
• 7:13
  Speaker 4: work that goes into creating the content that we love.
• 7:17
  Speaker 4: Influencers aren't just living a dream life, they are running
• 7:20
  Speaker 4: a business. While influencers should be transparent about their partnerships
• 7:25
  Speaker 4: and financial growth, Jess Graves argues they do not owe
• 7:29
  Speaker 4: their audience affordability. Instead, she says, what they truly owe
• 7:33
  Speaker 4: us is honesty and authenticity about their personal journeys and
• 7:37
  Speaker 4: the reason behind their recommendations. From my perspective as somebody
• 7:42
  Speaker 4: who started sharing finance content when she was still in
• 7:46
  Speaker 4: personal debt who now owns let's be real, multimillion dollar homes,
• 7:52
  Speaker 4: I think it is wildly unfair to expect that my
• 7:55
  Speaker 4: personal growth would be stunted back where I started. I
• 7:58
  Speaker 4: want to be able to share my SNOO growth. I
• 8:00
  Speaker 4: want to be able to share how I went from
• 8:02
  Speaker 4: being in forty thousand dollars worth of personal debt to
• 8:05
  Speaker 4: being financially what people would deem successful. I want to
• 8:10
  Speaker 4: make sure that you guys see that change is absolutely
• 8:13
  Speaker 4: possible and that the money story you currently have is
• 8:15
  Speaker 4: not the one you.
• 8:16
  Speaker 2: Always have to have. I agree with this.
• 8:19
  Speaker 4: It's not about keeping everything within a certain price range
• 8:21
  Speaker 4: to make everyone happy.
• 8:23
  Speaker 2: It's about being real with all of you. If I
• 8:26
  Speaker 2: love a high.
• 8:27
  Speaker 4: End product and I genuinely believe in its value, I'm
• 8:30
  Speaker 4: going to share it with you, but I'll also be
• 8:33
  Speaker 4: upfront about why I love it and how it fits
• 8:35
  Speaker 4: into my life. And equally, I'm going to share those
• 8:37
  Speaker 4: budget friendly hacks because at my core, I love a
• 8:41
  Speaker 4: money win. Honesty and authenticity. That's what builds trust and
• 8:46
  Speaker 4: from my perspective, that's what really matters. A platform that
• 8:50
  Speaker 4: plays a significant role in how influencers can remain authentic
• 8:53
  Speaker 4: while still running a sustainable business is LTK formerly known
• 8:58
  Speaker 4: as Like to Know ITK is a game changer. This
• 9:02
  Speaker 4: isn't sponsored by the way, It genuinely is a game
• 9:05
  Speaker 4: changer that bridges the gap between promoting products and influencers
• 9:08
  Speaker 4: being able to earn a living.
• 9:10
  Speaker 2: So how does it work?
• 9:11
  Speaker 4: You've probably seen it already with every Man and his
• 9:14
  Speaker 4: Dog now responding to your comments of oh my gosh,
• 9:17
  Speaker 4: where is your jacket? From the links in my bio,
• 9:20
  Speaker 4: will influencers create content featuring various products from fashion and beauty,
• 9:24
  Speaker 4: to home to core lifestyle and even now baby items,
• 9:28
  Speaker 4: and then, through their LTK platform, influencers generate unique trackable
• 9:31
  Speaker 4: links for these products, and then when one of their
• 9:34
  Speaker 4: followers clicks on these links and makes a purchase, that
• 9:37
  Speaker 4: influencer earns a commission from the sale. This provides a
• 9:41
  Speaker 4: direct income stream from their recommendations, which at its core
• 9:45
  Speaker 4: makes absolute sense, and from my perspective, I like the
• 9:49
  Speaker 4: idea that there's more accountability here if they're not sharing
• 9:53
  Speaker 4: recommendations that resonate with their audience.
• 9:56
  Speaker 2: They're not going to get paid. Followers can easily.
• 9:59
  Speaker 4: Shop for the exact products featured by their favorite influencers
• 10:02
  Speaker 4: without the hussle of searching for the items themselves. When
• 10:05
  Speaker 4: followers purchase through lt K links, they directly support the
• 10:09
  Speaker 4: influencers that they love, helping them to continue to create
• 10:13
  Speaker 4: high quality content. It's a win win for both creators
• 10:16
  Speaker 4: and followers. By providing transparency and convenience and a reliable
• 10:22
  Speaker 4: income stream, LTK helps influencers stay true to their personal
• 10:26
  Speaker 4: brand and maintain their authenticity, which if now we've been
• 10:30
  Speaker 4: through all of this, you probably agree with me on
• 10:34
  Speaker 4: I feel like we have covered a lot today. I
• 10:37
  Speaker 4: feel like I've got a little ranch that's been sitting
• 10:39
  Speaker 4: on my shoulders for a long time off my chest,
• 10:43
  Speaker 4: and I feel hopefully that we're maybe.
• 10:45
  Speaker 2: On more of the same page.
• 10:47
  Speaker 4: From the economic realities of being an influencer to the
• 10:50
  Speaker 4: expectations of affordability.
• 10:51
  Speaker 2: And the importance of honesty.
• 10:54
  Speaker 4: Influencer culture is multifaceted and ever evolving, and it's important
• 10:58
  Speaker 4: for us to understand the businesses behind the content.
• 11:02
  Speaker 2: That we love and have a level of respect for it.
• 11:05
  Speaker 4: I hope that you found today's discussion a little bit insightful,
• 11:08
  Speaker 4: and be sure to tune in next week because I'm
• 11:11
  Speaker 4: going to dive into the nitti gritty of just how
• 11:13
  Speaker 4: influencers make their money beyond platforms like LTK. So thanks
• 11:17
  Speaker 4: for hanging out with me on Saturday and for this
• 11:19
  Speaker 4: special episode. I'm going to go get an oat latte
• 11:22
  Speaker 4: and I think that you deserve one.
• 11:24
  Speaker 5: To The advice shared on She's on the Money is
• 11:32
  Speaker 5: general in nature and does not.
• 11:34
  Speaker 2: Consider your individual circumstances.
• 11:36
  Speaker 4: She's on the Money exists purely for educational purposes and
• 11:40
  Speaker 4: should not be relied upon to make an investment or
• 11:42
  Speaker 4: financial decision. If you do choose to buy a financial.
• 11:45
  Speaker 5: Product, read the PDS TMD and obtain appropriate financial.
• 11:49
  Speaker 2: Advice tailored towards your needs.
• 11:51
  Speaker 5: Victoria Divine and She's on the Money are authorized representatives
• 11:55
  Speaker 5: of Money. Sheper Pty LTD ABN three two one is
• 11:59
  Speaker 5: six four nine two seven seven zero eight a f
• 12:02
  Speaker 5: s L four five one two eight nine