The notion that having more social media followers will mean more income is wrong. The number of your social media followers isn’t directly proportional to the amount that you will earn.
What’s important, though, is your ability to adapt to the changes in social media. And take advantage of these changes in the market and sell your products.
To know more, let’s learn from the podcast of Max Av and Peter Guerriera, wherein they discussed the effect of social media followers.
Max: I know social media accounts with very few followers, but they make a lot of money. And I know people who have a lot of followers and make very little money. Followers do not equal revenue. Followers do not correlate directly with income.
Peter: The ability to make money on social media is independent of your followers, right? For your skill of making money, it doesn’t even matter if you have a lot of followers. The only thing that matters is your ability to monetize on social media.
Max: The older social media becomes, the less impact the number of followers will be. I’ve seen so many examples of people. I know YouTube channels that have a lot of subscribers and make very, very little money. And I know YouTube channels that have very few subscribers and make enormous money. The older social media gets, the lesser your followers will impact your income.
Peter: I can give an excellent example of somebody like that. There was somebody that I used to follow when I was very young by the name of Elliot Hulse. In the fitness industry, he was a God and could not be touched. He had 2 million followers before anyone had a thousand followers. You pointed out a good point where the older your social media got, the less the number of people who follow you mattered.
And I use him as an excellent example because now he has maybe 4 million subscribers, but the first 2 million were from 15 years ago. Such people like me now go back and watch his videos. And I was what you would call an OG subscriber of this guy. His content is so different that I would never watch his videos again.
Max: You can’t just say X a follower equals one pennyworth of monetary value. It’s far too liquid. It’s far too dynamic. You never know what’s going to happen on social media.
One thing I tell people, if you are not comfortable with change, stay away from the social media industry. Social media industries are for people like me who love change, evolution, rapid growth, and that stuff. I love to adapt to people.
For instance, Jake Paul, who, on a dime, will do something completely different and not care and continue to do it and do well, is a good example.
But, I think that the most optimal example is GaryVee. GaryVee is unbelievably good at adaptation -that’s his superpower. He has social media marketing agency.
So like the older social media becomes, the older, the fewer followers matter, especially with Facebook. There are Facebook pages that have millions of fans that don’t make any money. It’s literally like that. The older feature on Facebook is, the harder it is to monetize. Instead, you pay to get your sales.
So Facebook is excellent at this; eventually, all social media platforms will follow this route. The older the venue, the harder it is to get followers because they want you to pay for it. TikTok is going to do the same thing. One year ago, getting views and followers on Tik Tok was easy. Now, the pipelines are over-saturated. You see more and more ads on TikTok, and you will see the same thing in the future. It’s going to get harder to get a real audience. The market will be more competitive because they want more platform ads.
Peter: So what I will say for people closer to my age? I’m 28, by the way. I looked at TikTok initially as something only young children would do. And it was the biggest mistake I ever made.
From this podcast, we will realize that social media will never be oversaturated. Instead, it is the competition that will get harder. But it doesn’t mean there is no room for success in society.
It is quite the opposite, as long as you have an idea and know-how to market it. And you know how to adapt and take advantage of changes. You will tap that market on social media and gain immense success.
