Social media learning is an effective way to transfer knowledge and connect people when they learn. As an effective means of teaching, over 61% of high performers are increasing their investment in these areas.
Monetization and Time to Dedicate to Content Creation
Influencers must find a way to monetize their platforms. If you’re sharing financial advice and not able to monetize your platform, your followers will suffer. A few of the ways that lack of monetization negatively impact influencers and their followers are:
- Lack of content organization
- Less time to dedicate to learning and educating
The life of a social media influencer is intense. You must spend time creating and editing content, planning content and finding ways to post regularly. As your base grows, demands grow even larger.
Monetization may be possible through:
- Online courses
- Sponsored posts
- Driving traffic to your site
- Selling services
However, you also need to be in touch with the lifestyle of your followers, and that’s another major problem for influencers.
Out of Touch with Follower Lifestyles
Social media learning is lifestyle-based. The advice of investing in an index fund may transcend well to someone with disposable income, but the recommendation of people having 30% disposable income is outlandish.
Influencers must stay in touch with their audience and realize that everyone has a different lifestyle and income.
Falling out of touch with the lifestyle of followers is easy when you start earning significantly more than the average household as an influencer. It’s crucial to be mindful of your audience and their lifestyle, income and financial difficulties before giving out advice.
Partnerships Can Create Bias
Influencers can monetize their content in several ways, but one of the most common is through brand partnerships. Many influencers become brand ambassadors, promoting the products or services offered by a company. While this benefits the influencer from a financial perspective, it does create some other issues for both the influencer and their followers.
- Influencers may be obligated to promote the brand and its products or services. They may be required to create certain content and follow the brand’s rules for this content creation. These obligations and requirements create bias. Rather than recommending products or services that are a good fit for their followers, they’re promoting a brand simply because they’re being paid to do so. Some influencers will only partner with brands they know and trust, but this isn’t always the case. For followers, this means not getting the best advice or recommendations.
- Influencers lose some of their autonomy. Influencers who enter brand partnerships may be restricted from promoting certain products, services or brands. By entering into these agreements, influencers lose some of their autonomy and the ability to tap into other revenue streams.
Influencers and followers both face problems when it comes to social media learning and financial literacy online. Influencers must find ways to monetize their content without restricting their ability to provide informative, valuable and unbiased information. At the same time, they need to understand their audience and their financial situations. For followers, finding useful information from an influencer who understands their lifestyle can be challenging.