According to a recent report, 57% of Gen Zers said they would like to become an influencer on social media.¹ To which 100% of people over age 50 replied “Is that a real thing?”

Being an influencer is a real thing; moreover, for many individuals, it’s their job. In some ways, influencers have always been among us, from Coco Chanel and Dorothy Hamill (remember when her haircut swept the nation?) to James Dean and Michael Jordan.

In fact, the influencer marketing industry was about $21 billion worldwide in 2023.²

We know that many well-known celebrities with their millions of followers have jumped into the influencer business, but it is the micro-influencer with typical audiences of 10,000-50,000 followers that can be equally or even more effective in driving the sales of promoted brands.

So, if social media influencer is a real job, what are its required skills and demands? It’s not solely about taking pictures of yourself with the brand you’re promoting. The job requires copywriting skills, photography abilities, video editing, performance and magnetism, communication skills, advertising campaign creation and production, project management, social media strategist, public relations contact, data analytics, negotiating skills (primarily with brands), and financial accounting.

Still not convinced? Consider pocket.watch, a digital media company, which is behind some of the biggest franchises that dominate kids’ YouTube. In an interview with The Wall Street Journal last year, the CEO commented that his goal for pocket.watch is to be the Nickelodeon of the future. They have already turned dozens of children-centered influencer platforms into multimillion-dollar franchises. Some of the company’s stars have dolls sold at mega-big box retailers and shows on every major streaming channel.

Take the example of Charli D’Amelio, who started out at 16 years old and has become a big star on Instagram, posting herself modeling, dancing and vlogging. Now at the age of 18, Charli is worth around $20 million. Ryan Kaji produces and stars in “Ryan’s World,” which he created at age 11. He does toy reviews, concocts playtime adventures and performs science experiments. Oh, and he’s just completed his first movie, “Ryan’s World the Movie: Titan Universe Adventure,” which is expected to be released into theaters in 2024.

Yes, social media influencer is a real job, even a career, and it just may be the next big market niche for financial professionals!

Sources:

1. https://www.cnbc.com/2023/09/20/more-than-half-of-gen-zers-think-they-can-easily-make-a-career-in-influencing.html
2. https://sproutsocial.com/insights/influencer-marketing-statistics/

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