What is an Influencer [and How they Make Millions $$$]

How do influencers make money…like $26 million a year type of money? How can you become an influencer on Instagram, YouTube or any social media platform? Complete guide from ‘What is an Influencer?’ to everything you need to do to make money online.

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So, what is an influencer? It’s kind of a vague term still but generally means anyone with a large following on social media, especially YouTube and Instagram, that can use their message to produce sales for a product or service. That doesn’t mean they’re a sellout. Most influencers only promote products they use or believe in enough that they can recommend to friends.

How do influencers make money? All of you in the Bow-Tie Nation have heard me talk about the importance of multiple income streams and it’s no different being an influencer. The main way influencers make money is through sponsored posts where a company will pay them to mention a product. Influencers can also get paid on a commission-basis where they get a percentage of each sale made from mentioned products. Still another way influencers make money is through selling their own products, services and consulting.

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Becoming an influencer is actually easier than you might think…but becoming a highly-paid influencer is a little harder. It’s too much to go into here but I made a step-by-step in the video to getting started as an influencer on Instagram and YouTube.

How much do influencers make? OK, so you’re probably not going to become the next Kylie Jenner but you can make a LOT of money as an influencer. For example, I’m pretty small potatoes here with my YouTube channel and three blogs but still averaged over $18,000 over the last three months and have made well over $300,000 with my online business. Not all of that is from being an influencer but a good part of it is.

2:15 What is an Influencer?
2:57 How do influencers make money?
3:50 How to become an influencer
7:15 How Much do YouTube Influencers Make?
7:35 How Much do Instagram Influencers Make?

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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