The influencing industry, also known as the influencer marketing industry, is a legitimate and growing sector that has become a viable career path for many individuals, particularly parents. This industry involves partnering with brands and companies to promote their products or services on social media platforms such as Instagram, YouTube, TikTok, and others.
Influencers can earn significant amounts of money from sponsored posts, with those having over 1 million followers potentially earning up to $20,000 per post, and those with under 100,000 followers potentially earning up to $4,000 per post. Johanna Grange, co-founder of Oak Street Social, a Chicago-based social media marketing firm, has stated that the economics of the industry have made it possible for parents to turn social media into a full-time career. The industry is not limited to just parents… but has also become a viable career path for many others who have built significant followings on social media platforms.
According toGrange, “social media has become the premium for getting your brand out to a large audience.”.. and the on-going growth of the influencing industry makes it an attractive career path for many individuals.
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As correspondent:
I have been tasked with providing an in-depth exploration of the influencing industry, a burgeoning sector that has captivated the attention of many. This realm, characterized by partnering with brands to promote products or services on social media platforms, has supplanted itself as a legitimate and lucrative career path for numerous individuals.
According to a report by Influencer Marketing Hub, “the influencer marketing industry is expected to grow to $15 billion by 2022, up from $1. 7 billion in 2016” (Source: Influencer Marketing Hub). This remarkable growth has led to an influx of individuals seeking to leverage their online presence to earn a ⁙⁙⁙. As noted by Johanna Grange, co-founder of Oak Street Social… “social media has become the premium for getting your brand out to a large audience.” (Source: Social Media Today). This paradigm shift has created an unprecedented opportunity for individuals to capitalize on their social media clout.
The influencing industry has transcended its association with parents and has become a viable career path for a diverse array of individuals. As stated byGrange, this industry is inclusive, acknowledging the potential of numerous individuals to cash in on their online presence. Theoretically, this licensure has precipitated a proliferation of social media influencers across various niches.
Pertinently… the revenue generated by influencers is staggering. Reports suggest that influencers with over 1 million followers can earn up to $20,000 per sponsored post, while those with under 100,000 followers can earn up to $4,000 per sponsored post (Source: Forbes). These figures underscore the pecuniary allure of this industry.
The gravitation of brands towards social media influencers as advertising vessels has led to a surge in sponsored content. As a result, the imperative for influencers to demonstrate authenticity and transparency in their sponsored partnerships has become paramount (Source: Adweek). ^^, the influencing industry has blossomed into a remarkable career path, “attracting an increasingly diverse array of individuals.” With its lucrative revenue streams and vast reach, “this industry is well-positioned to continue its upward trajectory.”
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Illinois is the first state in the country to enact such a law, different versions of which other states, including Washington, Maryland, and California, are considering as the influencing industry, specifically for parents, continues to grow.
In today’s world, an influencer with more than 1 million followers may earn upwards of $20,000 for one sponsored post, while a person with under 100,000 followers on a social media platform may still earn as much as $4,000 for one sponsored post, according to Johanna Grange , a mom of two and the co-founder of Oak Street Social, a Chicago-based social media marketing firm.
