The term "Influencer" is a buzz word that's been making its way around the business world. All you have to do is scroll through Instagram and you'll notice how people like to put the word "Influencer" in their bio. As someone who built a business out of a blog I started when I was 22, I've also had to get used to using the word "influencer" to describe myself.
Here's something else I've had to get used to, making sure I've got money coming from as many places as possible. First, because it's smart money. The best way to build wealth over time is to have multiple streams of income.
Second, because deals fall through all the time. Or they take forever. In the world of influencer marketing, it can take eons for a company to decide what it is they want from their influencer campaign. I've had potential contracts with major companies get stuck in the purgatory known as the legal department.
If you're banking on just one project, you could find yourself unable to pay your rent. Having your money come from different places ensures your needs are always met.
That being said, there are several ways you can make money with your influence. Once you've made a name for yourself, the possibilities are endless, but here are a few places to start.
I mentioned influencer campaigns in the introduction and It was with good reason. There's a lot of money in it. While it may take a company a long time to get a deal figured out, once you've got the deal it could be worth tens of thousands of dollars or more.
To give you an idea, a couple of my coaching clients got a six-figure contract to be a part of a major marketing campaign for a large financial company. Additionally, they've gotten five-figure deals just to produce one video.
Another way your influence can lead to a big paycheck is through consulting. If you've built a name for yourself, people will naturally start reaching out to you for your opinion. And it's not just people, it's also companies that reach out.
In my personal experience, I can earn more in three hours from one consulting gig than I used to earn at my last day job in two weeks. As my influence grows, my rates will as well.
With my group coaching program, I made nearly $10K in sales in two weeks. Many of the people who signed up for the program signed up because I was the one doing it.
Most people wouldn't naturally equate writing with making lots of money. If you're one of those people, you'd be wrong.
My colleagues and I make some pretty good money writing for publications. One of my colleagues has a gross income of over $200,000 just from her writing. The secret, I've noticed, is having a solid brand behind your name.
Digital products are another way to make money with your influence. If you have some knowledge in an area, you can use your influence to sell courses based on your knowledge.
For instance, part of the reason why I've been able to build the brand that I have is because I've been freelance writing for years. I know how to get clients, I know how to get paid good money and I know how to use it to make a name for myself.
Over time, blog readers and social media followers started asking me how I did it. They wanted to know how I was able to create a business that was both fun and flexible. Since freelance writing is what started it all for me, I created a course on how to start your own freelance writing business.
The reason I like this is because it's scalable and passive. You create the course once, learn how to market it, and watch the sales come in.
Speaking is another great way to make money with your influence. Again, once you've made a name for yourself people want to hear what you have to say. You can also command thousands of dollars for a keynote.
Once you've built your influence, it's time to monetize it in multiple ways. It ensures your bills are paid and helps you create multiple streams of income. With time, you'll be making more money with your name than you ever thought possible.