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On the basis of follower counts, marketing agencies worldwide have divided social media influencers into nano (1000-10,000 followers), micro (10,000-100,000), macro (100,000-1 million) and mega (over one million). Read on to find out the money dynamics of each group and also get some handy tips on how to start your journey.

Instagram, Facebook, YouTube are abuzz with social media influencers. These influencers have an ever-widening reach, with events, brand deals, TV shows and magazine covers their playing fields. Where canny social influencers go, big bucks follow.

As per the Influencer Marketing Report, the Indian influencer industry is predicted to be valued at Rs 2,200 crore by 2025 and grow at a 25 percent CAGR, underscoring the fact that the influencer business is getting serious.

But the layperson may still wonder if social influencer can be a lucrative career option because after all, its just a hobby. Well, clearly, its not so. For those who master the art of influencing, incomes can go well beyond hard-earned corporate jobs.

When the COVID-19 pandemic resulted in a 20 percent decline across advertising in India, social media influencers enjoyed a 46 percent increase in their advertising-based revenue, as per a survey published by iCubesWire in March this year.

I did it out of pure passion without knowing where it would lead me and if this could even become any reliable source of income at some point. I tried creating content in the cheapest way possible and with any resource I had on hand, like shooting on my phone and using basic editing skills I learned via YouTube without hiring anybody, said Anisha Dixit who started her journey as an influencer in 2013 and now has over three million subscribers on YouTube.

Dixit added that initially, the finances start flowing when platforms like YouTube or Facebook pays you based on the number of views that your content generates but thats not exactly a reliable income source. Here is where the major source for influencers to earn money brand collaborations come into the picture.

Brand collaborations can include barter deals, which include product placements, shoutouts, ambassador programmes, ads, meet & greets, and sponsorships, explained Aashutosh Katre, Director at content marketing company Yellow Seed.

Like any other job, being a social media influencer also requires passion, strategy and dedication to make the most out of it. Aanchal Agrawal, who started her journey in 2020, now has over 300,000 followers on Instagram. She believes, as an influencer brand, integrations form an integral part of the finances.

You can make content that you think a brand can easily pick up which is also well-liked by your audience. When I started creating content, I started a series called Dating app etiquettes, which I thought would work well if a dating app would want to collaborate with me and that is exactly what happened, advised Agrawal.

After this, once an influencer gets a loyal fan base, according to Arushi Gupta, Business Head at Influencer.in, another popular way for influencers to earn money is by hosting paid courses, fan membership, licensing of the content they produce, becoming a consultant and offering career courses or setting up ones own brand.

How much do influencers earn?

On the basis of follower counts, marketing agencies worldwide have divided influencers into nano (1000-10,000 followers), micro (10,000-100,000), macro (100,000-1 million) and mega (over one million).

Micro-influencers in the 5,000-20,000 group accounted for 54.3 percent of Instagram users across India in 2020, according to a report by hypeauditor.com. On Instagram, influencers with over one million followers, also called mega influencers, had only 0.41 percent share.

As per marketing experts an influencer based on the category they cater to, the niche and the deliverables can earn from Rs 15,000-5 lakh from one brand deal.

Gupta provided us with a breakdown of the money dynamics:

What I can say for sure is that being an influencer today is as lucrative as having a top job in most corporate sectors. It pays well if the audience relates with what you're putting out there and if you manage to build a community authentically over a period of time, added Aanam Chashmawala, a social media influencer and the Founder of Wearified, a beauty cosmetic brand.

What do brands look for while investing in an influencer?

As brand integrations are very important to the finances of an influencer, its imperative to know what brands want and how influencers target them.

According to Arihant Jain, CEO of a meme marketing agency, Wubbalubbadubdub, every brand has a specific strategy, personalised and driven by the need to build a robust portfolio that can cater to any kind of target audience.

However, brands do look out for three core things whether the influencer is real or not, does the influencer suit the niche of the brand and whether would they be ready to tour offline places and do re-shoots.

Balasubramaniam, AGM - Digital, brand-comm, said for brands there are usually two priority buckets, the first includes the number of followers, demographic, context and engagement rate and the second factors in quality, editorial content and personality.

Social media influencers and technology go hand in hand, so the tech that the influencers use is also important.

While shortlisting influencers for campaigns, brands are also keen on having a good video quality, and aesthetic output that brings out the brand well. The video should engage the audience and reach the appropriate target audience.

They also look out for how innovative the creator is while engaging the brand with his own content. Timely delivery of content is also a key factor for a brand to essentially work with the creators, added Gupta.

Are you an aspiring influencer?

Statistics and research firm Statista reports that YouTube had the highest number of professional content creators globally at one million in January 2020, meaning that over one million of them made a living completely from publishing. content on the platform. With 30 million amateur creators monetising content on the Facebook-owned platform that year, Instagram was the most popular platform among creators in 2020.

How does one actually start the journey?

Although brand integrations are important, Dixit advises budding influencers to produce content and tell stories because they like it and not keep the money in mind. If you are just starting out as a content creator, don't invest too much in your equipment or hire a team. We currently have amazing phones with great cameras on the market, use that as a start and once you see more consistent money coming in, you can slowly start investing more and more, she said.

Meanwhile, Agrawals advice to budding influencers was to not go crazy and always keep on investing.

The world is changing rapidly, the advertising paradigm is shifting every day and you do not know if the money inflow is going to be the same. Invest money in things that will bring money too; at least until you are in a stable place.

They keep going up and down and you do not want to be in a position where you are stressed about money because when that starts, it will reflect in your content which can harm your growth, so be wise with your money. added Agrawal.

It's very easy to get lost in the noise, just calm yourself down, is the advice of influencer and mentor Anudeep Reddy Mannem, who owns a food and lifestyle YouTube channel.

As of January 2022, Google-owned YouTube had more than 265 million monthly active users in India and 1,200 of its creators have crossed the one-million subscriber milestone. Five years ago, only two creators crossed the milestone.

Marketing experts advise budding influencers to:

(Edited by : Shoma Bhattacharjee)

First Published:Oct 02, 2022, 11:33 AM IST

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How Social Media Influencers Make Money And How You Too Can Get The Ball Rolling - CNBCTV18

With more and more brands exploring a presence in the metaverse (however you define it), new opportunities for creators and influencers are arising.

One main area of opportunity is characterised by the virtual influencer a digital persona who acts just as any other influencer would, but who is entirely computer-generated. The concept has been around for a while, but a combination of the metaverse and the burgeoning creator economy has led to an expansion of the market, with brands increasingly partnering with creators who want to promote a virtual persona rather than their real selves. According to reports, there are more than 200 virtual influencers in existence, with this number only set to grow in future.

But with authenticity being the key to influencer success or so we have previously been told will consumers buy into virtual influencers in the same way as humans? I recently spoke with Eric Dahan, CEO of global influencer marketing company, Open Influence, to discuss the benefits, challenges, and potential opportunities for brands in this space.

The battle for creative control has been an issue within brand-influencer partnerships for a number of years a 2019 Takumi study found that 45% of marketers feel they should have complete control over the written captions and visual elements of an influencers post, in order to ensure that the influencer does not veer away from the agreed tone or content of a campaign. Dahan says that virtual influencers can take away this debate.

For brands, it gives them the ability to have more control in one or two ways. Either they are partnering with a virtual influencer, and they can take a little bit more control than with a human influencer. Or and I think this is whats really exciting brands can create their own virtual influencers and really design them from the ground up.

Dahan suggests that, in this context, a virtual influencer can become a brand mascot or spokesperson of sorts. Ideally thats your CEO or founder, but most companies dont have that, or they have been around for so long that their CEO is more of an operator than the face of the business, he says. And so, theres really an opportunity there for brands to create their own mascots.

The question is, will virtual influencers lack authenticity if they are entirely manufactured? Or rather, if consumers are willing to buy in, is authenticity less important than marketers tend to think?

Dahan suggests that real authenticity doesnt necessarily come from the face of the influencer, but the voice. Im sure there are meme accounts that you follow [on social media] there are a bunch that I certainly follow, where Ive never seen the actual creator who is putting out the content and writing the captions. But I dont need to, right? he proposes. Theres an authenticity, a voice, and the messaging and the values are reflected by whats being shared. So, theres that level of authenticity to it even though theres not a face attached to it.

There are additional challenges here of course, which Dahan says it is vital for brands to consider before they jump into virtual influencers. It cant just be something that feels corporate and empty it needs to feel like there is a true reflection or values and personality, he states. Ultimately, theres going to be a team behind it who is running it, aiming to focus the values of the organisation and personifying it into a single individual to make it more relatable.

Ethical considerations are important, too, particularly when it comes to the audience that a virtual influencer might be targeting. Fashion retailer PacSun was recently criticised after it named Lil Miquela an AI influencer first created in 2016 as its latest ambassador and the face of its 2022 holiday campaigns. Despite Lil Miquela aligning with PacSuns positive brand values, such as her stance on social activism, some have suggested the CGI influencer also promotes a largely unattainable image that is potentially harmful to a young female audience. Not to mention that the clothes Lil Miquela wears are perhaps unlikely to look the same in real life.

Dahan concedes that social media can perpetuate harmful standards, but that its also the case irrespective of whether the influencer is virtual or human.

With influencers in general, if they alienate their audience, they arent going to maintain that audience they will start losing followers, he says. Of course, theres the question of what sort of things are you influencing, but thats not specific to the virtual side.

Perhaps more concerning, suggests Dahan, is if brands begin to rely on AI. Youve only got to look at BlenderBot the prototype of Metas conversational AI, which recently generated media coverage for its propensity for making offensive and untrue statements.

Ethically, there are more questions [with AI]. Theres the same danger of nefarious things happening with virtual influencers, and you dont have the same accountability that you do with an individual, so there is a heightened risk for misinformation and swaying opinion, he acknowledges.

In terms of the additional challenges that come with virtual influencers (compared to human influencers), Dahan suggests that brands need to be aware of the ongoing commitment and workload. As people we all have experiences and life stories and were used to expressing every little thing we do, but were not conscious of it, he explains. With a virtual influencer, somebody has to consciously write that down. Its like a movie script ten people sat in a room for hours and deliberately decided to include that piece of dialogue it is much more finite and isolated, but with a virtual influencer it is continuous, and it is a lot of content.

Despite lingering concerns over AI technology, Dahan says that the potential will eventually outweigh the risks. We are seeing it with chatbots getting smarter and smarter every year, so who is to say a few years from now virtual influencers cant be managed in the metaverse by AI, [with this technology] controlling most of the interactions and creating personalised experiences for users? he asks.

Dahan suggests that another factor that is likely to propel the popularity of virtual influencers is the impact of the metaverse and Web3 culture, and the avatarisation of real people.

If you look at the crypto world, people are buying NFTs and making them their profile picture, right? And with the metaverse, you need an avatar you cant just go in live action, he says. I think that will make it easier for virtual influencers to exist, because how do you know whether or not that avatar is a real flesh and blood person or a team of people carefully crafting their messaging?

The other thing thats interesting is that you can have the same virtual influencer in more than one virtual location, and you can customise experiences. All this feels very pie in the sky but the advances in AI are moving really quickly.

Finally, Dahan touches on the industry shifts that could result in the emergence of more digital creators (and virtual influencers) than ever before. Most notably, he says, is Apples privacy updates and the impact it has had on ROAS and ad performance.

This has created a push towards social commerce, he says. But there has also been a bigger shift in the past couple of years in how platforms look at creators. Where Facebook used to look at influencers as a nuisance taking money away from its ad platform now they realise ok well, we actually need to reward the creators, so they stay on and create and keep the audience.

So, whether it be video or affiliate revenue through social commerce, the bigger shift that is happening for creators is platforms finding new ways to monetise aside from just selling impressions and clicks.

See the article here:
Can avatars be authentic? Eric Dahan on the rise of virtual influencers - Econsultancy

Hoorah SA says that it understands people through data, driven results, creativity and innovation and that it tells stories with its consumers at the centre of them.

Hoorah adds that it is here to disrupt the landscape and create innovative, personalised experiences at scale.

Marco Russolillo, group ECD at Hoorah, says, "We are extremely happy to be represented among the best in the industry for our work in social and digital media."

"We will continue to innovate and push for creative and digital excellence for our clients. Hoorah has had a successful year of growth and these awards are a testament for things to come,"Russolillo concludes.

Hoorah SA won the following awards atThe New Generation Social and Digital Media Awards:

Hoorah SA New Generation Awards Hoorah SA at New Generation Awards The New Generation Social and Digital Media Awards Hoorah Digital agency Digital agency SA

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Hoorah SA wins at the New Generation Awards - Media Update

September 15 marked the beginning of Hispanic Heritage Month. Like during Black History Month or Asian Pacific American Heritage Month, brands want to take the opportunity to market directly to Latinx audiences and position themselves as allies. But Latinx consumers arent a monolithic group. The Latinx or Hispanic consumer encompasses 27 distinct countries of origin, cultures and identities.

The challenge for brands is creating authentic and impactful, culturally-focused Hispanic marketing campaignswithout pandering, stereotyping or over-generalizing. The most powerful technique social teams have in their corner this month is working directly with Latinx and Hispanic creators.

If your brand is looking to enter the Latinx market, heres what you need to know.

Latinx spending power is expected to top 1.3 trillion dollars in 2023 and 78% of Latinx and Hispanic consumers enjoy online shopping. As far as social marketing goes, theyre extremely immersed in social media. A majority (52%) of Hispanics aged 18 or older spend an hour or more on social media every day, compared to 38% of non-Hispanic whites. Theyre also 5 times more likely to share content, which can have an extreme impact on your reach.

This rapidly growing demographic should be a crucial part of your inclusive marketing strategy. Reaching out to the Latinx community in your marketing can have positive effects on your overall social strategy as well. Most (60%) consumers are more likely to buy from a brand with inclusive marketing.

To improve your inclusivity, creators are the key to making an impact with the Latinx community.

The Latinx community is no exception when it comes to the advantages creators bring to social marketing strategy. Some 68% of marketers use creators to generate more engagement, and Latinx creators understand and relate to their audience in ways that make consumers want to learn more.

Their authenticitywhich is the second most important creator traitand connection with their communities are key to creating viral content. And as 74% of marketers prepare to spend more than a quarter of their budget on creator partnerships, Latinx creators are a great bet.

The most obvious benefit of bringing on a Latinx creator is their intrinsic cultural expertise. As members of the community, they know first-hand what resonatesand whats going to fall flat. Leveraging their perspective on campaign ideas and execution can help your team avoid cultural appropriation and build a meaningful sense of cultural appreciation.

Vanessa Sirias has built a following of over 250,000 people across platforms with her comedy sketches surrounding the Latinx experience. When Secret Deodorant approached her for a partnership, she created a sketch poking fun at the stereotypical Latina-oriented commercial. This approach was not only relatable for her viewers, but it established Secrets position of being in on the joke, instead of the butt of it.

Different communities have different relationships with your product. This sounds obvious, but when youre constantly creating marketing campaigns aimed at targeting the largest number of people, it can be easy to forget. Luckily, creators have unique insight into how different groups might respond, relate to and use your offerings. Partnering with diverse creators can bring your marketing team new insight into what might appeal to your target audience.

Violeta Venagas is a Selena tribute creator with 1.3 million followers across platforms. For her partnership with Dossier Perfumes, she paired each scent with a Selena song to describe the vibe. Fragrance companies often have difficulty describing their olfactory products on visual platforms, but Violeta was able to market them more concretely by associating the products with something familiar to her audience.

One of the major appeals of social media is the opportunity to dive deep into niche audiences. Its hard to justify a commercial or billboard that will only appeal to select consumers. Latinx creators combine their interests with their experiences, creating powerful content for others who share their hobbies and obsessions. Partnering with these creators gives your social team the opportunity to find their fandoms and create highly-targeted and highly-effective content.

Lis Wonder, a Cuban-American cosplayer with almost 2 million followers across platforms, built her audience around geek culture. Fandoms love dressing up for movie premieres and Lis is no exception. Her partnership with Regal centered around the comfort fans find in going to their favorite movies and the excitement of showing up as their favorite characters.

While Hispanic Heritage Month is an excellent opportunity to celebrate Latinx and Hispanic culture across your brand channels, it shouldnt be the only opportunity. Consumers are clamoring for more inclusive content and providing them with it will only make your brand stronger. By partnering with creators who represent the communities youre trying to reach, your strategy will be more inclusiveand more successful.

Looking to learn more about advancing diversity, equity and inclusion on social media? Check out this article with five essential things to keep in mind while building out your strategy.

View original post here:
Why partnerships with Latinx creators matter to your inclusive marketing strategy - Sprout Social

The takeaway: As Facebook, YouTube, and Instagram chase TikToks success in cornering short-form video, the race underscores just how important video has become as a marketing channel.

Brands really should be shifting more budget into video, and I don't mean just TikTok, our analyst Jasmine Enberg said on a recent Behind the Numbers podcast.

TikTok is clearly raking in ad dollars as a result of a lot of these economic challenges and privacy policy changes, she said. But it should be looked at as kind of a big-picture thing, so social marketing strategiesmeaning advertising, organic content, and creator partnershipsshould all be video-first right now.

Targeting TikTok: Trying to beat TikTok might be a lost cause, but Enberg said platforms will have an easier time cloning TikToks approach to short video than reinventing it. Instagram has already put a greater emphasis on its Reels format, even though viewers watch Reels 11 times less than TikTok videos, according to an internal Meta memo.

This week, Facebook and YouTube announced efforts to bolster their short-video products:

Why video?: Video now accounts for more than half of the time spent on social media, our The Great Realignment report recently found. And that figure is only expected to increase. For marketers, that represents an advertising opportunity that many are jumping at.

Display advertising will make up 57.7% of digital advertising budgets in the US in 2022, driven by this consumer surge in video consumption. In fact, we now expect more than $76 billion in video ad spending this year, significantly higher than our pre-pandemic forecast.

Whats next: The major social platforms might be nearing their ceilings in terms of users, Enberg said, but new players can still emerge, especially ones like BeReal that are capturing the attention of Gen Z.

I think it's way too soon to tell whether it's going to be as big as TikTok, or how far it's really going to reach within the social media landscape, she said. But keeping an eye on those new players and how younger consumers are spending their time and communicating on social media really is vital to see where the landscape is going next.

This was originally featured in the eMarketer Daily newsletter. For more marketing insights, statistics, and trends, subscribe here.

The rest is here:
TikTok and the race to corner short-form video - Insider Intelligence