CHARLOTTE, N.C. — If you scroll your Instagram, you might see someone endorsing a product or event. That post could translate to passive income for the person who posted it.
But even with a few thousand followers, people can make money from their digital brand.
Meredith Dean, a social media influencer with 45,000 followers, told WCNC anchor and reporter Jane Monreal, the social media influencer industry continues to grow.
"In 2020 the influencer industry was over two billion dollars," Dean said.
Dean, who teaches influencer workshops with her company, The Dean's List, said the pandemic helped because people were home.
"They were on their phones. they were constantly scrolling," Dean said. "Influencers were able to help sell a lot of these products where you couldn't see a billboard if you weren't driving to work."
The former journalist said partnerships depend on what the influencer wants to do.
"I'm a mid-tier influencer. So mid-tier influencers can make from $500-$20,000 per post."
She explained the different tiers of influencers. The first level is the nano influencer, who has one to five thousand followers. Usually, companies will offer nano influencers in-kind gifts rather than money.
"A lot of people have that amount already. And a lot of companies are choosing to work with nano influencers because they have such a high engagement rate," Dean said. "You can have an 8.8 percent engagement rate."
She defined engagement as people liking or commenting on a particular post.
The micro-influencers will have more than 10,000 followers, also with a high engagement rate.
"The very top tier would be your A-list celebrities. So you're looking at Selena Gomez, one of the most highly followed celebrities. She is a mega influencer," Dean said. "You have more than one million followers. However, the engagement rate is under one percent."
According to the 2023 Instagram rich list by Hopper HQ, Lionel Messi is the second highest-paid social media influencer with a post costing upwards of 3.6 million dollars.
Dean said prices change depending on followers and engagement, along with other factors.
"For me, I'm going to charge a little bit more. I also work with influencers everywhere, very highly connected. And I have multiple things I offer in my packages outside of just doing a post for a company."
It's not as easy or glamourous as it seems, Dean added, sometimes spending hours editing one post for a client.
"They are expected to write the caption. They expect to go to the event. And get all the best content, be the video editor, be the photographer, and also be the person in front of the camera," Dean explained.
Whatever level of influencer you are, or, want to become, she said consistency is key to building your online presence.
"I think anyone can become an influencer. It's based on how authentic are you, and whether are you promoting something that really does resonate with your brand."