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How Influencers Turn Social Media into Cash · She's On The Money

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  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
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  Speaker 1: Order Kerney Whaltbury and a waddery woman. And before we
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  Speaker 1: get started on She's on the Money podcast, I would
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  Speaker 1: like to acknowledge the traditional custodians of the land of
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  Speaker 1: which this podcast is recorded on a wondery country, acknowledging
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  Speaker 1: the elders, the ancestors and the next generation coming through.
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  Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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  Speaker 1: the storytelling of you to make a difference for today
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  Speaker 1: and lasting impact for tomorrow. Let's get into it.
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  Speaker 2: She's on the Money, She's on the Money.
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  Speaker 3: Hello, and welcome back to She's on the Money cost
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  Speaker 3: Millennials who want financial freedom. Last Saturday, things get a
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  Speaker 3: little bit spicy when we dove headfirst into the wild
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  Speaker 3: world of influences and the very fine line they walk
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  Speaker 3: between authenticity and cashing in. So if you missed that chat,
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  Speaker 3: I highly recommend giving it a listen. The episode honestly
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  Speaker 3: had you buzzing. My dams were blowing up. So today
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  Speaker 3: I'm bringing you another special Saturday treat. As always on
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  Speaker 3: a Saturday, it is just me Victoria Divine here to
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  Speaker 3: show you exactly how influencers are turning their social media
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  Speaker 3: savvy into some serious cash and spoiler alert, it's actually
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  Speaker 3: way more than just posing with pretty products and using
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  Speaker 3: trendy hashtags. Did you know that there are over five
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  Speaker 3: billion social media users worldwide? That's almost sixty percent of
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  Speaker 3: the global population scrolling, lacking, sharing, and buying. And with
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  Speaker 3: this digital world, influencers have carved out a unique space,
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  Speaker 3: becoming trusted voices for millions. According to findings by Matter Communications,
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  Speaker 3: sixty nine percent of consumers trust influencer recommendations. To me,
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  Speaker 3: that is crazy. This level of trust gives influences significant power,
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  Speaker 3: especially when it comes to making money. So how exactly
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  Speaker 3: do influencers cash in on all this? Let's start with
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  Speaker 3: the bread and butter of the influencer world, sponsored posts
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  Speaker 3: and brand campaigns. Essentially, brands pay influencers to showcase their
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  Speaker 3: products or services, whether through a single Instagram post, a
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  Speaker 3: series of stories, or even a full blown campaign that
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  Speaker 3: includes blog posts and videos. It's all about leveraging the
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  Speaker 3: influencer's unique voice to promote the brand. And then there's
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  Speaker 3: the next level, brand ambassadorships. This is where influencers form
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  Speaker 3: long term partnerships with brands, becoming the face and voice
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  Speaker 3: of their products. Over time, these gigs usually come with
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  Speaker 3: arguably a higher paycheck thanks to the ongoing promotion and
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  Speaker 3: deep brand integration. It's all about building a stable income
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  Speaker 3: stream while staying authentic and relatable to their audiences building
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  Speaker 3: on those partnerships. Another money maker for influencers, which arguably
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  Speaker 3: has been hot topic over the last couple of weeks
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  Speaker 3: on TikTok and Instagram alike, is affiliate marketing. For influencers,
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  Speaker 3: affiliate marketing is like having their own digital storefront. They
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  Speaker 3: share a special link or a code in their posts,
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  Speaker 3: and every time someone buys something using that link, they
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  Speaker 3: earn a small commission. This small commission can range anywhere
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  Speaker 3: from five percent to thirty percent of the sale price,
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  Speaker 3: depending on the brand and the deal. They're getting paid
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  Speaker 3: to share their favorite fines, and the more affiliate programs
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  Speaker 3: they join, the more they're able to earn. Although for
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  Speaker 3: affiliate marketing to really pay off, influencers actually need to
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  Speaker 3: be genuine. As we highlighted last week here, authenticity is key.
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  Speaker 3: It's not necessarily about market saturation and having everyone where
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  Speaker 3: you could say the same cardigan without it, influencers risk
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  Speaker 3: losing the very thing that makes their audience actually listen
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  Speaker 3: to them and want to be like them and purchase
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  Speaker 3: their products, which is trust. And it's not just brands
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  Speaker 3: who are recognizing the value that influencers bring. Social media
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  Speaker 3: platforms have been stepping up their game by offering direct
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  Speaker 3: payments to influencers. These platforms know that influencers play a
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  Speaker 3: key role in keeping us hooked on their platform, so
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  Speaker 3: they're offering financial rewards to encourage influencers to create even
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  Speaker 3: more engaging and even more frequent content tied directly to
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  Speaker 3: audience interaction. The most well known here is probably YouTube's
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  Speaker 3: Partner program, where creators earn money just from running ads
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  Speaker 3: on their videos. Other platforms are currently experimenting with different
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  Speaker 3: ways to do this. Instagram's currently trialing a new feature
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  Speaker 3: called Bonuses, and TikTok has their Creator program. This feature
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  Speaker 3: allows influencers to earn extra money from the platform based
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  Speaker 3: on their content's performance, such as views on VID videos,
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  Speaker 3: how long people watch videos for, or engagement on posts.
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  Speaker 3: While Instagram's currently rolling out this feature in select regions,
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  Speaker 3: it hasn't actually launched yet in Australia, so it's going
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  Speaker 3: to be really interesting to see if and when it
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  Speaker 3: rolls out here. And to sweeten the deal even further,
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  Speaker 3: some social media platforms are up in the ante by
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  Speaker 3: letting their users pay creators directly. For example, Instagram is
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  Speaker 3: testing a subscriptions feature that lets influencers offer premium content
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  Speaker 3: to their most dedicated fans. Exclusive content like behind the
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  Speaker 3: scenes footage, special live streams, and tutorials exist here. It's
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  Speaker 3: a great way for influencers to secure a steady income
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  Speaker 3: stream while building a more engaged and more loyal community.
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  Speaker 3: Over on TikTok, live gifts give followers the ability to
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  Speaker 3: buy virtual gifts during live streams that can then be
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  Speaker 3: converted into cash by influencers. It's a direct way for
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  Speaker 3: followers to show their support, and it can be especially
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  Speaker 3: loose creative for influencers with a really strong and really
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  Speaker 3: engaged audience. I've been talking. I feel like I've got
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  Speaker 3: a mouthful of marbles and I'm currently underwater. So let's
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  Speaker 3: go to a really quick break and on the flip side,
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  Speaker 3: I want to talk about how smart influencers are diversifying
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  Speaker 3: their income streams. All right, we are back and we
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  Speaker 3: are talking about how influencers make money. And while all
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  Speaker 3: these platforms YouTube, Instagram, TikTok are a great addition, at
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  Speaker 3: the end of the day, successful influencers know that they
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  Speaker 3: can't rely solely on them and I always say that
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  Speaker 3: putting all your financial eggs in one basket is never
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  Speaker 3: a good strategy, and the same goes for the social
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  Speaker 3: media world. Smart influencers are diversifying their income streams. They
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  Speaker 3: might launch their own product lines think makeup or clothing,
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  Speaker 3: fate the label I am looking at you. You have
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  Speaker 3: done it incredibly well. They're creating online courses, or they're
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  Speaker 3: even writing books. This diversification is key to building a
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  Speaker 3: more stable income for themselves, as relying solely on platforms
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  Speaker 3: like Instagram or YouTube can be really risky with ever
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  Speaker 3: changing algorithms and the consistent risk of maybe losing your profile. Take,
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  Speaker 3: for example, a beauty blogger who starts their own skincare line.
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  Speaker 3: It's a really savvy way to turn a passion into
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  Speaker 3: a really thriving business and it's always inspiring to see
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  Speaker 3: influencers grow in new and different directions. Now, while all
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  Speaker 3: of this might actually sound very glamorous, we have to
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  Speaker 3: remember it is a full time gig that requires a
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  Speaker 3: ton of skills and serious hard work to make it
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  Speaker 3: sustainable long term. Influencers have to create engaging, high quality
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  Speaker 3: content that resonates with their audience, whether that's some photos
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  Speaker 3: or videos or a blog post. This means a lot
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  Speaker 3: of planning goes into shoots, editing their content, editing concepts,
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  Speaker 3: and often collaborating with a team of photographers or videographers
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  Speaker 3: to bring it to life. On top of that, they
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  Speaker 3: need to be social media savvy. They need to be
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  Speaker 3: engaging with their followers, responding to comments, staying ahead of
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  Speaker 3: the latest trends, and making sure they know what's going on.
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  Speaker 3: And let's not forget the business side. They not only
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  Speaker 3: need to negotiate their brand deals, manage legal contracts, and
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  Speaker 3: dive into the analytics, but they also have to manage
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  Speaker 3: their tax and subranuation and any other small business feature
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  Speaker 3: that they've got going on. It's a role that demands creativity,
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  Speaker 3: some business smarts, and a whole lot of hustle in
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  Speaker 3: an ever changing digital world. Let's not forget that being
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  Speaker 3: in the public eye also brings some very significant challenges.
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  Speaker 3: Every single detail shared online can be and often is,
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  Speaker 3: dissected and criticized, subjecting influences to arguably some very intense scrutiny.
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  Speaker 3: This pressure to uphold an arguably flawless image can lead
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  Speaker 3: to stress and then impact mental health, especially as they
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  Speaker 3: juggle audience expectations with brand commitments. The constant comparison and
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  Speaker 3: negative comments can intensify feelings of inadequacy or anxiet, revealing
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  Speaker 3: that the job is far more challenging than it might
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  Speaker 3: seem from the shiny exterior and as a legitimate form
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  Speaker 3: of work, the industry is filled with challenges and risks,
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  Speaker 3: especially because it's largely unregulated. One of the biggest issues
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  Speaker 3: is the potential for exploitation, with influences often facing unclear contracts,
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  Speaker 3: delayed payments, and sometimes no compensation at all. This lack
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  Speaker 3: of standardization and protection can make it feel difficult for influencers,
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  Speaker 3: especially those just starting out, to advocate for fair treatment
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  Speaker 3: and compensation. The industry's lack of strict legal and ethical
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  Speaker 3: guidelines means influencers must navigate the murky waters of advertising
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  Speaker 3: standards all on their own. Without clear rules, they risk
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  Speaker 3: unintentional ethical breaches, which jeopardizes their credibility and their audience's trust,
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  Speaker 3: or being canceled and losing their entire income, which we've
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  Speaker 3: seen time and time again online. I know that a
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  Speaker 3: lot of you are going to listen to this and
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  Speaker 3: still think that maybe influenceans have it easy. But please
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  Speaker 3: don't forget. There aren't that many influencers who become successful,
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  Speaker 3: and I guess they have it my friends. The Saturday
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  Speaker 3: wrap up of the real story behind how influencers are
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  Speaker 3: making their cash. It's a wild world full of opportunity,
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  Speaker 3: but one that also requires a ton of hard work, creativity,
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  Speaker 3: and resilience that often doesn't get the credit that it's due.
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  Speaker 3: From brand deals to affiliate marketing, to navigating the highs
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  Speaker 3: and the lows of being in the public eye, influencers
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  Speaker 3: are juggling a lot more than just pretty pictures and
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  Speaker 3: a few hashtags. So next time you're scrolling through your feed,
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  Speaker 3: remember there's a whole business behind these posts. The advice
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  Speaker 3: shared on She's on the Money is general in nature
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  Speaker 3: and does not consider your individual circumstances. She's on the
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  Speaker 3: Money exists purely for educational purposes and should not be
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  Speaker 3: relied upon to make an investment or financial decision. If
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  Speaker 3: you do choose to buy a financial product, read the PDS,
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  Speaker 3: TMD and obtain appropriate financial advice tailored towards your needs.
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  Speaker 3: Victoria Divine and She's on the Money are authorized representatives
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