The Powerful World of Social Media Influencers and Influencer Marketing - Austin Stanfel

Never before has the business of influencer marketing been so fast-paced, dynamic and part of the zeitgeist – says Austin Stanfel. The world of social media influencers and influencer marketing is ever-changing. It transforms and develops at an incredibly rapid pace. And the social media influencers that are right at the heart of it are reaping the benefits.

With the meteoric rise in popularity of social media came a surge of new marketing opportunities, which social media influencers have used to become extraordinarily successful and very rich. A celebrity can slip on a little black dress, go to a red carpet event with photographers and media presence. The next day the same dress is sold out across the country. We've seen this most recently with the royals and the impact Kate and Meghan Markle have had on the fashion industry. And with social media, the celebrity doesn’t even have to leave their house. They endorse the product on their profile, and millions of social media users see the product, instantly. Marketers have used this effect to reach out to new audiences in a way that had never been before.

But the trend is shifting. It's not just celebrities that win hugely lucrative endorsements from major companies. Everyday people like you and me can become social media influencers too, and get paid well for it. All you have to do is gather enough followers, and enough of a following on a range of social media platforms and companies will come flocking to get you to share their latest product with your fans.

Young social media influencers are getting smart too. Not only are they accepting payment in exchange for promoting a product or service, but now they are using their social media presence and the power that brings to build up businesses for themselves. And they're not small ventures either. Savvy entrepreneurial influencers are starting million dollar companies from their bedrooms, and the power of influencer marketing is helping them to do that.

At just 21 Kylie Jenner became the world's youngest self-made billionaire. In 2019 she was 2nd on the Forbe's list of Richest Entertainers and 23rd on the Forbe's list of America's Self-made Women. At just 22 year's old, this is an impressive achievement. She has managed to do this not through any specific job, skill or talent, but because she is a shrewd businesswoman with 177 million social media followers who are ready to buy into anything that Kylie Jenner may promote or sell. And it worked. Kylie's followers have made her a billionaire.

As Austin Stanfel preaches; There will always be a place on social media for influence marketing. After all, these companies are willing to pay hundreds of thousands of dollars for the right celebrity or influencer to promote their product. With the social influencer market set to be worth 15 billion dollars by 2020, it's an increasingly powerful and popular way to promote goods and services. But as time passes and social media influencers begin to understand the power they have with so many eyes on them from previously untapped audiences, they will become some of the most successful business people in the world.