1 00:00:00,680 --> 00:00:05,040 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order 2 00:00:05,160 --> 00:00:08,760 Speaker 1: Order Kerney Whaltbury and a waddery woman. And before we 3 00:00:08,800 --> 00:00:11,440 Speaker 1: get started on She's on the Money podcast, I would 4 00:00:11,520 --> 00:00:14,520 Speaker 1: like to acknowledge the traditional custodians of the land of 5 00:00:14,560 --> 00:00:18,680 Speaker 1: which this podcast is recorded on a wondery country, acknowledging 6 00:00:18,680 --> 00:00:22,560 Speaker 1: the elders, the ancestors and the next generation coming through. 7 00:00:23,040 --> 00:00:27,159 Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and 8 00:00:27,200 --> 00:00:30,560 Speaker 1: the storytelling of you to make a difference for today 9 00:00:31,040 --> 00:00:34,200 Speaker 1: and lasting impact for tomorrow. Let's get into it. 10 00:00:34,360 --> 00:00:53,640 Speaker 2: She's on the Money, She's on the Money. 11 00:00:57,280 --> 00:01:00,400 Speaker 3: Hello, and welcome back to She's on the Money cost 12 00:01:00,400 --> 00:01:04,920 Speaker 3: Millennials who want financial freedom. Last Saturday, things get a 13 00:01:04,920 --> 00:01:08,080 Speaker 3: little bit spicy when we dove headfirst into the wild 14 00:01:08,080 --> 00:01:10,480 Speaker 3: world of influences and the very fine line they walk 15 00:01:10,520 --> 00:01:15,000 Speaker 3: between authenticity and cashing in. So if you missed that chat, 16 00:01:15,080 --> 00:01:18,680 Speaker 3: I highly recommend giving it a listen. The episode honestly 17 00:01:18,720 --> 00:01:21,319 Speaker 3: had you buzzing. My dams were blowing up. So today 18 00:01:21,440 --> 00:01:25,280 Speaker 3: I'm bringing you another special Saturday treat. As always on 19 00:01:25,319 --> 00:01:28,360 Speaker 3: a Saturday, it is just me Victoria Divine here to 20 00:01:28,400 --> 00:01:31,800 Speaker 3: show you exactly how influencers are turning their social media 21 00:01:31,880 --> 00:01:36,280 Speaker 3: savvy into some serious cash and spoiler alert, it's actually 22 00:01:36,319 --> 00:01:39,120 Speaker 3: way more than just posing with pretty products and using 23 00:01:39,160 --> 00:01:43,120 Speaker 3: trendy hashtags. Did you know that there are over five 24 00:01:43,319 --> 00:01:47,600 Speaker 3: billion social media users worldwide? That's almost sixty percent of 25 00:01:47,680 --> 00:01:53,000 Speaker 3: the global population scrolling, lacking, sharing, and buying. And with 26 00:01:53,160 --> 00:01:56,840 Speaker 3: this digital world, influencers have carved out a unique space, 27 00:01:57,320 --> 00:02:03,600 Speaker 3: becoming trusted voices for millions. According to findings by Matter Communications, 28 00:02:03,760 --> 00:02:07,920 Speaker 3: sixty nine percent of consumers trust influencer recommendations. To me, 29 00:02:08,200 --> 00:02:13,480 Speaker 3: that is crazy. This level of trust gives influences significant power, 30 00:02:13,960 --> 00:02:18,040 Speaker 3: especially when it comes to making money. So how exactly 31 00:02:18,080 --> 00:02:21,800 Speaker 3: do influencers cash in on all this? Let's start with 32 00:02:21,840 --> 00:02:25,480 Speaker 3: the bread and butter of the influencer world, sponsored posts 33 00:02:25,480 --> 00:02:30,040 Speaker 3: and brand campaigns. Essentially, brands pay influencers to showcase their 34 00:02:30,040 --> 00:02:33,440 Speaker 3: products or services, whether through a single Instagram post, a 35 00:02:33,480 --> 00:02:36,880 Speaker 3: series of stories, or even a full blown campaign that 36 00:02:36,960 --> 00:02:40,880 Speaker 3: includes blog posts and videos. It's all about leveraging the 37 00:02:40,919 --> 00:02:44,880 Speaker 3: influencer's unique voice to promote the brand. And then there's 38 00:02:44,919 --> 00:02:48,919 Speaker 3: the next level, brand ambassadorships. This is where influencers form 39 00:02:49,000 --> 00:02:52,480 Speaker 3: long term partnerships with brands, becoming the face and voice 40 00:02:52,560 --> 00:02:55,960 Speaker 3: of their products. Over time, these gigs usually come with 41 00:02:56,200 --> 00:02:59,600 Speaker 3: arguably a higher paycheck thanks to the ongoing promotion and 42 00:02:59,720 --> 00:03:03,800 Speaker 3: deep brand integration. It's all about building a stable income 43 00:03:03,840 --> 00:03:08,320 Speaker 3: stream while staying authentic and relatable to their audiences building 44 00:03:08,360 --> 00:03:12,280 Speaker 3: on those partnerships. Another money maker for influencers, which arguably 45 00:03:12,320 --> 00:03:14,720 Speaker 3: has been hot topic over the last couple of weeks 46 00:03:14,760 --> 00:03:19,640 Speaker 3: on TikTok and Instagram alike, is affiliate marketing. For influencers, 47 00:03:19,720 --> 00:03:23,400 Speaker 3: affiliate marketing is like having their own digital storefront. They 48 00:03:23,480 --> 00:03:25,760 Speaker 3: share a special link or a code in their posts, 49 00:03:25,800 --> 00:03:29,359 Speaker 3: and every time someone buys something using that link, they 50 00:03:29,440 --> 00:03:33,440 Speaker 3: earn a small commission. This small commission can range anywhere 51 00:03:33,480 --> 00:03:36,080 Speaker 3: from five percent to thirty percent of the sale price, 52 00:03:36,160 --> 00:03:38,920 Speaker 3: depending on the brand and the deal. They're getting paid 53 00:03:39,000 --> 00:03:42,040 Speaker 3: to share their favorite fines, and the more affiliate programs 54 00:03:42,080 --> 00:03:45,480 Speaker 3: they join, the more they're able to earn. Although for 55 00:03:45,560 --> 00:03:49,360 Speaker 3: affiliate marketing to really pay off, influencers actually need to 56 00:03:49,360 --> 00:03:54,200 Speaker 3: be genuine. As we highlighted last week here, authenticity is key. 57 00:03:54,280 --> 00:03:59,320 Speaker 3: It's not necessarily about market saturation and having everyone where 58 00:03:59,520 --> 00:04:03,200 Speaker 3: you could say the same cardigan without it, influencers risk 59 00:04:03,400 --> 00:04:06,320 Speaker 3: losing the very thing that makes their audience actually listen 60 00:04:06,360 --> 00:04:08,200 Speaker 3: to them and want to be like them and purchase 61 00:04:08,240 --> 00:04:12,160 Speaker 3: their products, which is trust. And it's not just brands 62 00:04:12,160 --> 00:04:16,039 Speaker 3: who are recognizing the value that influencers bring. Social media 63 00:04:16,080 --> 00:04:19,039 Speaker 3: platforms have been stepping up their game by offering direct 64 00:04:19,160 --> 00:04:23,719 Speaker 3: payments to influencers. These platforms know that influencers play a 65 00:04:23,800 --> 00:04:26,800 Speaker 3: key role in keeping us hooked on their platform, so 66 00:04:26,839 --> 00:04:30,640 Speaker 3: they're offering financial rewards to encourage influencers to create even 67 00:04:30,680 --> 00:04:34,400 Speaker 3: more engaging and even more frequent content tied directly to 68 00:04:34,520 --> 00:04:38,359 Speaker 3: audience interaction. The most well known here is probably YouTube's 69 00:04:38,400 --> 00:04:42,440 Speaker 3: Partner program, where creators earn money just from running ads 70 00:04:42,440 --> 00:04:46,560 Speaker 3: on their videos. Other platforms are currently experimenting with different 71 00:04:46,560 --> 00:04:49,680 Speaker 3: ways to do this. Instagram's currently trialing a new feature 72 00:04:49,680 --> 00:04:53,800 Speaker 3: called Bonuses, and TikTok has their Creator program. This feature 73 00:04:53,800 --> 00:04:57,159 Speaker 3: allows influencers to earn extra money from the platform based 74 00:04:57,200 --> 00:05:00,480 Speaker 3: on their content's performance, such as views on VID videos, 75 00:05:00,839 --> 00:05:04,800 Speaker 3: how long people watch videos for, or engagement on posts. 76 00:05:05,279 --> 00:05:08,719 Speaker 3: While Instagram's currently rolling out this feature in select regions, 77 00:05:08,800 --> 00:05:11,880 Speaker 3: it hasn't actually launched yet in Australia, so it's going 78 00:05:11,960 --> 00:05:14,080 Speaker 3: to be really interesting to see if and when it 79 00:05:14,200 --> 00:05:17,400 Speaker 3: rolls out here. And to sweeten the deal even further, 80 00:05:18,120 --> 00:05:20,800 Speaker 3: some social media platforms are up in the ante by 81 00:05:20,880 --> 00:05:26,200 Speaker 3: letting their users pay creators directly. For example, Instagram is 82 00:05:26,279 --> 00:05:30,360 Speaker 3: testing a subscriptions feature that lets influencers offer premium content 83 00:05:30,440 --> 00:05:34,599 Speaker 3: to their most dedicated fans. Exclusive content like behind the 84 00:05:34,600 --> 00:05:39,320 Speaker 3: scenes footage, special live streams, and tutorials exist here. It's 85 00:05:39,360 --> 00:05:42,480 Speaker 3: a great way for influencers to secure a steady income 86 00:05:42,520 --> 00:05:45,920 Speaker 3: stream while building a more engaged and more loyal community. 87 00:05:46,560 --> 00:05:49,719 Speaker 3: Over on TikTok, live gifts give followers the ability to 88 00:05:49,760 --> 00:05:52,719 Speaker 3: buy virtual gifts during live streams that can then be 89 00:05:52,800 --> 00:05:56,800 Speaker 3: converted into cash by influencers. It's a direct way for 90 00:05:56,880 --> 00:05:59,760 Speaker 3: followers to show their support, and it can be especially 91 00:05:59,760 --> 00:06:03,200 Speaker 3: loose creative for influencers with a really strong and really 92 00:06:03,240 --> 00:06:07,280 Speaker 3: engaged audience. I've been talking. I feel like I've got 93 00:06:07,360 --> 00:06:10,360 Speaker 3: a mouthful of marbles and I'm currently underwater. So let's 94 00:06:10,360 --> 00:06:12,840 Speaker 3: go to a really quick break and on the flip side, 95 00:06:12,839 --> 00:06:16,120 Speaker 3: I want to talk about how smart influencers are diversifying 96 00:06:16,160 --> 00:06:22,680 Speaker 3: their income streams. All right, we are back and we 97 00:06:22,720 --> 00:06:27,080 Speaker 3: are talking about how influencers make money. And while all 98 00:06:27,080 --> 00:06:32,120 Speaker 3: these platforms YouTube, Instagram, TikTok are a great addition, at 99 00:06:32,120 --> 00:06:35,440 Speaker 3: the end of the day, successful influencers know that they 100 00:06:35,480 --> 00:06:38,080 Speaker 3: can't rely solely on them and I always say that 101 00:06:38,279 --> 00:06:40,920 Speaker 3: putting all your financial eggs in one basket is never 102 00:06:41,000 --> 00:06:43,360 Speaker 3: a good strategy, and the same goes for the social 103 00:06:43,400 --> 00:06:48,800 Speaker 3: media world. Smart influencers are diversifying their income streams. They 104 00:06:48,880 --> 00:06:52,160 Speaker 3: might launch their own product lines think makeup or clothing, 105 00:06:52,360 --> 00:06:54,560 Speaker 3: fate the label I am looking at you. You have 106 00:06:54,680 --> 00:06:58,080 Speaker 3: done it incredibly well. They're creating online courses, or they're 107 00:06:58,120 --> 00:07:02,159 Speaker 3: even writing books. This diversification is key to building a 108 00:07:02,200 --> 00:07:05,880 Speaker 3: more stable income for themselves, as relying solely on platforms 109 00:07:05,880 --> 00:07:08,920 Speaker 3: like Instagram or YouTube can be really risky with ever 110 00:07:09,040 --> 00:07:13,920 Speaker 3: changing algorithms and the consistent risk of maybe losing your profile. Take, 111 00:07:13,960 --> 00:07:17,400 Speaker 3: for example, a beauty blogger who starts their own skincare line. 112 00:07:17,520 --> 00:07:20,040 Speaker 3: It's a really savvy way to turn a passion into 113 00:07:20,080 --> 00:07:23,400 Speaker 3: a really thriving business and it's always inspiring to see 114 00:07:23,400 --> 00:07:27,720 Speaker 3: influencers grow in new and different directions. Now, while all 115 00:07:27,760 --> 00:07:30,480 Speaker 3: of this might actually sound very glamorous, we have to 116 00:07:30,520 --> 00:07:34,120 Speaker 3: remember it is a full time gig that requires a 117 00:07:34,160 --> 00:07:37,120 Speaker 3: ton of skills and serious hard work to make it 118 00:07:37,160 --> 00:07:42,040 Speaker 3: sustainable long term. Influencers have to create engaging, high quality 119 00:07:42,080 --> 00:07:45,520 Speaker 3: content that resonates with their audience, whether that's some photos 120 00:07:45,560 --> 00:07:48,280 Speaker 3: or videos or a blog post. This means a lot 121 00:07:48,280 --> 00:07:52,400 Speaker 3: of planning goes into shoots, editing their content, editing concepts, 122 00:07:52,480 --> 00:07:56,280 Speaker 3: and often collaborating with a team of photographers or videographers 123 00:07:56,320 --> 00:07:58,800 Speaker 3: to bring it to life. On top of that, they 124 00:07:58,840 --> 00:08:01,200 Speaker 3: need to be social media savvy. They need to be 125 00:08:01,240 --> 00:08:04,200 Speaker 3: engaging with their followers, responding to comments, staying ahead of 126 00:08:04,240 --> 00:08:06,680 Speaker 3: the latest trends, and making sure they know what's going on. 127 00:08:06,840 --> 00:08:09,800 Speaker 3: And let's not forget the business side. They not only 128 00:08:09,840 --> 00:08:12,920 Speaker 3: need to negotiate their brand deals, manage legal contracts, and 129 00:08:13,000 --> 00:08:15,400 Speaker 3: dive into the analytics, but they also have to manage 130 00:08:15,440 --> 00:08:19,360 Speaker 3: their tax and subranuation and any other small business feature 131 00:08:19,400 --> 00:08:22,840 Speaker 3: that they've got going on. It's a role that demands creativity, 132 00:08:22,880 --> 00:08:25,560 Speaker 3: some business smarts, and a whole lot of hustle in 133 00:08:25,600 --> 00:08:29,680 Speaker 3: an ever changing digital world. Let's not forget that being 134 00:08:29,760 --> 00:08:33,160 Speaker 3: in the public eye also brings some very significant challenges. 135 00:08:34,040 --> 00:08:38,160 Speaker 3: Every single detail shared online can be and often is, 136 00:08:38,240 --> 00:08:43,880 Speaker 3: dissected and criticized, subjecting influences to arguably some very intense scrutiny. 137 00:08:44,400 --> 00:08:47,840 Speaker 3: This pressure to uphold an arguably flawless image can lead 138 00:08:47,880 --> 00:08:51,480 Speaker 3: to stress and then impact mental health, especially as they 139 00:08:51,559 --> 00:08:56,440 Speaker 3: juggle audience expectations with brand commitments. The constant comparison and 140 00:08:56,520 --> 00:09:00,840 Speaker 3: negative comments can intensify feelings of inadequacy or anxiet, revealing 141 00:09:00,880 --> 00:09:03,319 Speaker 3: that the job is far more challenging than it might 142 00:09:03,440 --> 00:09:07,680 Speaker 3: seem from the shiny exterior and as a legitimate form 143 00:09:07,679 --> 00:09:10,880 Speaker 3: of work, the industry is filled with challenges and risks, 144 00:09:11,280 --> 00:09:15,760 Speaker 3: especially because it's largely unregulated. One of the biggest issues 145 00:09:15,880 --> 00:09:20,920 Speaker 3: is the potential for exploitation, with influences often facing unclear contracts, 146 00:09:20,920 --> 00:09:25,360 Speaker 3: delayed payments, and sometimes no compensation at all. This lack 147 00:09:25,400 --> 00:09:29,520 Speaker 3: of standardization and protection can make it feel difficult for influencers, 148 00:09:29,960 --> 00:09:32,920 Speaker 3: especially those just starting out, to advocate for fair treatment 149 00:09:32,960 --> 00:09:36,800 Speaker 3: and compensation. The industry's lack of strict legal and ethical 150 00:09:36,880 --> 00:09:40,880 Speaker 3: guidelines means influencers must navigate the murky waters of advertising 151 00:09:40,920 --> 00:09:44,720 Speaker 3: standards all on their own. Without clear rules, they risk 152 00:09:44,840 --> 00:09:49,960 Speaker 3: unintentional ethical breaches, which jeopardizes their credibility and their audience's trust, 153 00:09:50,600 --> 00:09:53,480 Speaker 3: or being canceled and losing their entire income, which we've 154 00:09:53,480 --> 00:09:57,000 Speaker 3: seen time and time again online. I know that a 155 00:09:57,000 --> 00:09:58,440 Speaker 3: lot of you are going to listen to this and 156 00:09:58,520 --> 00:10:02,160 Speaker 3: still think that maybe influenceans have it easy. But please 157 00:10:02,200 --> 00:10:06,160 Speaker 3: don't forget. There aren't that many influencers who become successful, 158 00:10:06,760 --> 00:10:09,199 Speaker 3: and I guess they have it my friends. The Saturday 159 00:10:09,280 --> 00:10:12,200 Speaker 3: wrap up of the real story behind how influencers are 160 00:10:12,200 --> 00:10:15,679 Speaker 3: making their cash. It's a wild world full of opportunity, 161 00:10:15,800 --> 00:10:19,199 Speaker 3: but one that also requires a ton of hard work, creativity, 162 00:10:19,200 --> 00:10:22,240 Speaker 3: and resilience that often doesn't get the credit that it's due. 163 00:10:22,880 --> 00:10:26,360 Speaker 3: From brand deals to affiliate marketing, to navigating the highs 164 00:10:26,400 --> 00:10:29,599 Speaker 3: and the lows of being in the public eye, influencers 165 00:10:29,640 --> 00:10:32,400 Speaker 3: are juggling a lot more than just pretty pictures and 166 00:10:32,440 --> 00:10:35,680 Speaker 3: a few hashtags. So next time you're scrolling through your feed, 167 00:10:35,840 --> 00:10:45,520 Speaker 3: remember there's a whole business behind these posts. The advice 168 00:10:45,559 --> 00:10:48,120 Speaker 3: shared on She's on the Money is general in nature 169 00:10:48,160 --> 00:10:51,680 Speaker 3: and does not consider your individual circumstances. She's on the 170 00:10:51,679 --> 00:10:55,240 Speaker 3: Money exists purely for educational purposes and should not be 171 00:10:55,320 --> 00:10:58,640 Speaker 3: relied upon to make an investment or financial decision. If 172 00:10:58,720 --> 00:11:01,560 Speaker 3: you do choose to buy a financial product, read the PDS, 173 00:11:01,720 --> 00:11:05,720 Speaker 3: TMD and obtain appropriate financial advice tailored towards your needs. 174 00:11:06,080 --> 00:11:10,040 Speaker 3: Victoria Divine and She's on the Money are authorized representatives 175 00:11:10,040 --> 00:11:12,440 Speaker 3: of money sherper P, T y L t D A 176 00:11:12,559 --> 00:11:15,440 Speaker 3: b N three two one six four nine two seven 177 00:11:15,559 --> 00:11:19,080 Speaker 3: seven zero eight afs L four five one two eight 178 00:11:19,200 --> 00:11:20,000 Speaker 3: nine