Luis Méndez is 25 years old and has 11.7 million followers on TikTok, while on YouTube he has 6.4 million followers and has managed to monetize his content. While Sujin Kim has managed to start and have her own Korean school, thanks to her character Chinguamiga, who has managed to influence short and long video platforms.
Why is it profitable to be an influencer?
According to Influur, one of the brands that was present during VidCon, part of this push is in the popularity of these characters, since it is more difficult to do an interview with them than with leaders.
Influur was founded by four women and public figures such as Sofía Vergara, Juanpa Zurita or Thalía have invested. Its goal is to make it easy for brands and influencers to communicate and work together in less than 24 hours.
The way they make money is not only through the commercial guidelines they achieve, but also through the profits they make when their content goes viral. For example, Luis Méndez managed to monetize his content in just seven months and with this capital he invested in a smartphone that would make his work easier.
According to a report by The Information, there are already more than 200 companies dedicated to transforming people into businesses, including Hotmart, one of the brands that not only analyzes the influencer marketing market, but also trains content creators to earn more money.
This translates to an estimated creative economy of $104.2 billion in 2021.
“Brands that work with influencers are focused on generating interactions and leads. More than 60% of US social media marketers partner with creators primarily to increase engagement, and about the same proportion do so to reach new audiences,” said Sara Lebow, Analyst at eMarketer.
According to the eMarketer report, despite the fact that advertising spending was reduced in July 2022, companies rely more on the generation of content with influencers.
“Budget cuts may lead advertisers to rely more on influencer marketing, which is often cheaper than traditional channels. Only a quarter of social media marketers use creators primarily to reduce the burden of content creation, although that number could rise if the economic downturn deepens.
On platforms like YouTube alone, in just three years, the partner program generated $50 billion in revenue. While Statista notes that midsize businesses will be using influencer marketing this year, and that number will rise to around 90% by 2026.
With information from AFP.