During the pandemic social media became an invaluable resource for entrepreneurs. Women especially are using these talents to find financial freedom on these online platforms. Estelle Keeber, above, is one of the most prominent advocates in this emerging movement. She started on this journey back in 2017 when she created a Facebook group for women business owners. Through this process, she built a huge audience and honed her skills before moving into paid work for her social media talents. By the summer of 2023, Keeber was over £13,000 in debt. This unforeseen financial pressure drove her to research new opportunities to earn revenue.
In an effort to offset her financial stress, Keeber got on TikTok, where she started making videos centered on plus-size clothing hauls and reviews. Her hard work soon minted a return. Within seven days she received £200 in commission from a dress maker. Keeber’s success shows just how much money there is to be made from social media engagement. She has plans to set up a community interest company to facilitate those links between influencers and schools. This local initiative will more clearly demonstrate her commitment to creating opportunity and prosperity in her own backyard.
Like many entrepreneurs today, Roxanne Freeman found and built her business on social media. She began her Slimming World journey as a consultant herself, before jumping into TikTok. Her informative critiques on the app have since made her one of the top earners on the platform, pulling in as much as £5,000 per month. Though Freeman has succeeded financially, she’s willing to own her over-consumption. To keep a roof over her family’s heads, she maxed out over a dozen credit cards. Within two years she had a £1.2 million turnover through her social media marketing consultancy company.
Freeman’s influencer marketing experience sheds light on the tremendous potential and, to be fair, daunting challenges of influencer marketing. She understands the importance of smart financial stewardship in an industry that can be intimidating for new arrivals.
You can make a lot of money, but it requires years of sweat equity,” Freeman said.
Siblings Holly and Diego Hernandez are taking TikTok by storm. It’s no wonder they’ve brought in almost 300,000 followers with their unique and fun content! Perhaps even more telling is Holly, 22, thriving as an example nurse. On the other hand, 23-year-old Diego is successful in the medical supply industry. The young couple have shot to superstardom. Yet, they are aware of the need to get plugged in and find guidance through their nascent success.
“We were so young when the money came in, and we were going on amazing holidays and buying things,” Holly shared.
She added that they should have gotten more guidance about managing money in the formative years of their influencer careers.
I wish there was somebody back then who guided us, because I think we would have invested or saved it, she added.
In seeing her endeavors succeed, Holly has struggled with the darker side of fame.
The biggest drawback in my opinion are the trolls, she said. “There’s always someone hounding you because of our relationship or the way we look.”
The reality of feeling watched all the time is damaging to mental health.
Estelle Keeber is the happiest in influencer marketing’s future. She thinks it provides an authentic opportunity to market products and brands.
All in all, I believe influencer marketing is here to stay. Influencer marketing represents one of the most organic forms of marketing today, Keeber stated.
She encourages aspiring influencers, emphasizing that while the journey can be challenging, it offers unique opportunities for growth and income generation.
“Whether you want to be an influencer or an affiliate marketer, there has never been a better time for people to be jumping in,” Keeber remarked.
Keeber’s message was positive, she warned that success takes determination and effort.
Building a brand around yourself is not an overnight process. That is the product of tons of hard work! It is constant hard work,” she explained.
While these entrepreneurs are making their mark on the economy through social media, they face one cold hard fact— taxes come due. Zubair Ali, a tax education expert, counsels influencers and others reminding them that just because you have a thick following, that doesn’t make you tax immune.
Just because you’re getting great value and reach with that million followers, HMRC aren’t going to just look the other way. Ali warned.
He cautioned against the complacency that can arise from financial success.
Nobody loves receiving a $35 million tax bill with a 60-day due date. It gets even worse when you don’t have enough money to pay it!
“The last thing anyone wants is a big, fat juicy tax bill which they haven’t got the means to pay for.”