I recently discovered for all the campaigns that OEM’s like Tecno and Oppo do and all the stats that point to high internet penetration in Nigeria, there is not a lot of savviness about just how lucrative for those who are crazy enough to make it an actual business. It goes without saying that there is actual money to be made at every point of the internet value chain but too many do not see the link between content and money, unfortunately. So here is how influencers and content creators generate revenue on their pages with very little overhead.
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As far as marketing goes, the internet is a dream. Brands, as well as their ad agencies, know this very well. As for influencers, when they do their work well, they become the perfect link between the producer and the target market in something marketing pros call inboard marketing. The conversion rates are likely higher if brands market their products through influencers who have a huge following and high engagement stats on a given social network. Beauty influencers, for instance, first attract a huge following thanks to how much they seem to know of products and techniques. Then they begin to attract brands who are manufacturers of beauty products.
Influencers tend to excel on a certain social network and then use that following to grow on other platforms. Many times, its Instagram and Facebook that are networks of choice simply because of the huge numbers of Nigerians on those sites. Brands pay influencers to make posts that market their products. Some make influencers ambassadors and reps in such a manner that the brand leverages the entire social media presence of the influencer’s personality. Some pay per posts and others sponsor a series of posts. If the brand gets more exposure and converts engagement to sales on a given page, it does more for the influencers reputation and personal brand. This is part of a strategy that ad professionals call content marketing.
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There are other means to how influencers make money too. YouTube is the one platforms that directly pays its creators for creating content. The platform operates a percentage based sharing formula that is based on a cost-per-mile (CPM) system. Basically, in different regions of the world, Google (and YouTube) charges money to brands who want to use their platforms. The more the GDP, the more the CPM charge. In North America, CPM is around $20 and in much of Africa, it is about $2. So, obviously where you work from matters. On YouTube, like anywhere else, numbers also matter. To even begin to monetize your channel, you must have amassed one thousand views at least. The more views you get, the more your videos get chugged with ads and ad agencies even target your channel thus. On YouTube, affiliate links on video props could be another stream of income. Creators attach links to other videos or websites in the description and in the vent that sales are made, they get a percentage.
Finally, merchandising is another method via which influencers make money. Merchandising is a highly lucrative aspect of fan culture, these days. Everyone is selling merch. Artistes and influencers alike. You can understand why because those who buy them do so to feel part of their favourite personality’s group of fans. So the items sometimes can be overpriced and people will still buy because the motive is not just to have clothes to wear on a basic level.
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Some call me David. Others, Emerie. Others, (unfortunate fellows) Biggie. I like to think that I have sense and that is why I write too. Otherwise, I draw and paint and sing (in the bathroom) and love to make people laugh. I love to understand how things work and that’s why I love DIY videos and YouTube of course. Follow me on Twitter @EmerieOkwara