Episode Transcript
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Speaker 1 (00:03):
Side Hustle Secrets, Side Hustle.
Speaker 2 (00:09):
Secrets, Welcome everyone to the social media maven monetizing online influence.
I'm particularly fascinated by how this whole influencer landscape has evolved,
you know, from side hustle to a legitimate industry. It's
mind boggling, it really is.
Speaker 1 (00:28):
I mean, think about it everyday, people building brands and
businesses online. I'm eager to dive into the strategies they're using,
the challenges they face, the whole authenticity versus monetization tightrope.
Speaker 2 (00:40):
Walk exactly, and the economics of it all. How much
are these influencers really making? What's the return for brands?
So many questions?
Speaker 1 (00:47):
Yeah, and how do you even break into this world?
What separates those who succeed from well everyone else trying
to do the same thing?
Speaker 2 (00:54):
Right, It's not as easy as just posting a selfie.
There's a lot more to it. We'll be uncovering all
of that today, starting with how does one even become
a social media influencer these days? What's the path?
Speaker 1 (01:05):
Well, there are a few avenues, some leverage existing fame,
like celebrities transitioning to online platforms, but increasingly we're seeing
ordinary individuals cultivating influence from the ground up. It's quite
a phenomenon, it is.
Speaker 2 (01:19):
So is it all about follower count or is there
something something more?
Speaker 1 (01:23):
It's definitely more nuanced than just numbers. Engagement, authenticity, niche expertise.
These all play a crucial role. You could have millions
of followers, but if they're not actively engaged, your influences
well limited.
Speaker 2 (01:37):
I see. So let's talk about the challenges the input
text mentions, FTC regulations, maintaining authenticity while are mooting products.
What are some other hurdles influencers face.
Speaker 1 (01:49):
Oh, there are plenty. Burnout is a big one. The
constant pressure to create content, maintain engagement, stay relevant. It
takes a toll. Then there's the issue of dealing with
negativity online trolls and maintaining a thick skin, not to
mention the ever changing algorithms of social media platforms themselves.
Speaker 2 (02:08):
Yeah, it's like a constantly shifting landscape. You mentioned authenticity.
That seems to be recurring theme. How do influencers balance
sponsored content with genuine connection?
Speaker 1 (02:18):
That's the million dollar question, isn't it. Transparency is key,
clear disclosure of sponsored posts, but it goes beyond just
slapping a hashtag add on something. It's about integrating sponsored
content seamlessly into your personal brand so it feels authentic
and not forced. It's a delicate.
Speaker 2 (02:37):
Balance, definitely. And what about influencer marketing From the brand's perspective,
what are they looking for? How do they measure success?
Speaker 1 (02:43):
Well, brands are essentially looking for ROI return on investment.
They want to see a tangible impact from their influencer partnerships,
increased brand awareness, website traffic, sales.
Speaker 2 (02:54):
So earned media value, impressions, cost per action. These are
all metrics mentioned in the input texts ounds quite complex,
it can be.
Speaker 1 (03:03):
There are a lot of moving parts, but at its core,
it's about finding the right influencer for your brand, someone
whose audience aligns with your target market, and then working
collaboratively to create engaging content that resonates with that audience.
Speaker 2 (03:19):
So it's a partnership really, not just a transactional exchange.
Speaker 1 (03:22):
Precisely, And that's why authenticity is so important because consumers
can spot a fake a mile away. They want genuine connection,
not a forced sales pitch.
Speaker 2 (03:32):
So we've talked about the influencer side of things, right,
the authenticity the engagement, the grind. But what about the brands,
what are they looking for in these partnerships.
Speaker 1 (03:40):
Well, ultimately it boils down to return on investment. They
need to see a tangible impact, whether that's brand awareness,
website traffic, or actual sales.
Speaker 2 (03:50):
It has to be measurable, right, measurable, So impressions, earned media, value, cost, proaction.
These are all key metrics.
Speaker 1 (03:57):
Yeah, exactly. And that's where it gets a little tricky,
because how do you quantify the value of a like
or a share? How do you directly link an influencer's
post to a purchase down the line?
Speaker 2 (04:10):
That's a good question. It seems like there's a lot
of faith involved, trust in the influencer, trust in the metrics.
Speaker 1 (04:18):
There is, and that's why choosing the right influencer is crucial.
Someone whose audience aligns with the brand's target market, someone
who genuinely believes in the product. It can't just be
a transactional exchange.
Speaker 2 (04:31):
It has to be a partnership, a partnership built on
you guessed it, authenticity. It keeps coming back to that,
doesn't it.
Speaker 1 (04:36):
It really does, because consumers can spot a fake a
mile away. They value genuine connection over a forced sales pitch,
and that's what truly drives influence.
Speaker 2 (04:48):
So how do brands navigate this complex landscape? How do
they find the right influencers, measure success and ensure authenticity.
Speaker 1 (04:56):
Well, there are agencies that specialize in influencer marketing. They
can help brands identify potential partners, negotiate contracts, and track
campaign performance. But even with expert help, it's still a
learning process for everyone involved.
Speaker 2 (05:12):
I can imagine. And what about the legal aspects we
touched on FTC regulations earlier? How do brands and influencers
stay compliant?
Speaker 1 (05:20):
Transparency is key, clear and conspicuous disclosure of sponsored content
using hashtags like hashtag ad or hashtag sponsored. Making sure
the relationship between the brand and the influencer is obvious
to the audience.
Speaker 2 (05:35):
So no sneaking around, no hidden agendas, just honest and
upfront communication.
Speaker 1 (05:39):
Precisely, it's not just about following the letter of the law.
It's about maintaining trust with the audience, because once that
trust is broken, it's very hard to earn back, and
that's true for both the brand and the influencer.
Speaker 2 (05:52):
It's fascinating how the very idea of an influencer has evolved,
isn't it. We've gone from Eleanor Roosevelt inadvertently shaping public
opinion through her newspaper column too, while mister Beast given
away cars on YouTube.
Speaker 1 (06:04):
It's a wild ride. And the thing is Roosevelt, despite
using her platform to help her kids' careers and raise
money for charity, wasn't driven by the same pay to
play mentality we see today.
Speaker 2 (06:15):
Right, she wanted to educate and inspire. Now it's often
a different story though. I mean there's still a blend
of motives, right, educating, entertaining and making a buck.
Speaker 1 (06:26):
Absolutely, it's a complex mix. Think about those early two
thousands bloggers getting free meals for reviews. Some saw that
as exploited of especially for young people working without pay.
Speaker 2 (06:36):
And then came those early influencer marketing platforms like paper Post,
revolutionary but also ethically murky, right, not requiring disclosure. That's
a huge contrast to how things are at least supposedly
handled now.
Speaker 1 (06:50):
Huge. It really opened people's eyes to how corporations were
trying to shape online conversations. It sparked a whole debate
about transparency and authenticity, a debate that is still going on.
For sure.
Speaker 2 (07:01):
And now even with stricter guidelines from the FTC, there's
still the issue of how genuine are these endorsements really?
How much is authentic enthusiasm versus a paid performance exactly?
Speaker 1 (07:12):
And it's a tough line to walk. Consumers are savvy.
They can smell a fape a mile away. That's why
finding the right influencer, someone who genuinely aligns with the
brand is so crucial. Like that shampoo example, get someone
with amazing hair.
Speaker 2 (07:26):
Totally, it's about matching the product personality with the influencer's personality.
It has to be a believable partnership, otherwise it just
falls flat. And speaking of partnerships, what about this B
two C marketing angle. It seems like that's the dominant model.
Speaker 1 (07:39):
Yeah, that direct connection between business, influencer and consumer. It's powerful,
but it also relies heavily on trust. The influencers trust
with their audience and the audiences trust in the brand.
It's a delicate ecosystem.
Speaker 2 (07:55):
It is, and it's constantly evolving. We've seen the rise
of nano influencers, my mind influencers. It's a whole new
world of categorization. It makes me wonder what's next. Where
is this whole influencer landscape headed.
Speaker 1 (08:09):
Well, that's the million dollar question, isn't it. With AI
the Metaverse, who knows what the future of influence looks like.
But one thing's for sure, it's going to be interesting
to watch.
Speaker 2 (08:17):
So reflecting on everything we've covered about influencer marketing, it's
clear this landscape is incredibly dynamic. From FTC regulations to
authenticity defining the right influencer, that's.
Speaker 1 (08:28):
A lot, it really is. I'm still grappling with how
much emphasis is placed on authenticity. It's the core of
the whole thing, Yet it feels almost intangible. How do
you truly measure it right?
Speaker 2 (08:41):
It's like, you know, trying to catch smoke, and yet
consumers are savvy. They can sense a forced partnership, a
disingenuous endorsement. It's fascinating, really.
Speaker 1 (08:53):
It is, and I think that's why we're seeing this
shift right from mega influencers to these micro and even
nano influencers, smaller audiences but potentially stronger connections.
Speaker 2 (09:06):
It makes you wonder about the future, doesn't it? With
AI the Metaverse, what is the future of influence?
Speaker 1 (09:14):
Well, maybe it becomes less about individual personalities and more
about curated online communities, or maybe AI powered influencers become
a thing. Who knows.
Speaker 2 (09:23):
Oh that's a bit unsettling, actually a little black mirr esk,
don't you think?
Speaker 1 (09:29):
Huh, maybe a bit. But look, the Internet's always changing.
Remember those early blog days, free meals for reviews. We've
come a long way.
Speaker 3 (09:36):
Ethically and strategically, we have, and hopefully we continue to
prioritize genuine connection, authentic engagement because at the end of
the day, that's what truly resonates with people.
Speaker 1 (09:47):
Couldn't agree more. It's about building relationships, not just racking
up likes, and hopefully that's the direction we continue to
move in. Thanks for joining us everyone, it's been thought provoking,
to say the least.
Speaker 3 (10:02):
The
Speaker 2 (10:05):
Basting the first