Written by: Vickie Sullivan | July 29, 2014

How to Monetize Your Influence

For those of us still wondering about the impact of social media, check out this article about fashion thought leaders earning $1M per year.

My initial reaction: had no idea that my obsession with shoes and handbags could create this kind of revenue. If I ever decide to retire this could be plan B.

Let’s take a closer look: these folks get big bucks for one reason: their influence appears to drive sales. This is not subjective; the affiliate sales numbers and ad revenue are proof. My take: the affiliate sales and ad revenue show the value of their influence. That value spawns the collaborations and the appearance fees. And yes, I’m sure the number of followers helps, too.

This works for us as well. Example: Author Susan Cain’s partnership with Steelcase (Susan Cain Quiet Spaces by Steelcase). Social media is a platform for creating influence. And that influence must translate into dollars-and-cents value for others before we start to see big fee opportunities.

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Filed Under: Content Marketing, Tips, Trends & Tirades Market Digest

Tagged With: Branding, Content Marketing, Experts, Market Strategy, Marketing, positioning, social media, Thought Leaders, Vickie Sullivan