More people than ever aspire to become influencers on social media, given YouTube’s proliferation as an entertainment source and the popularity of Instagram and TikTok. Some 57% of Gen Z aspire to be influencers, according to a 2023 survey of 1,000 U.S. respondents. It makes sense after seeing influencers earn big payouts while having more freedom and flexibility to work on their terms.
There are many glamorous aspects of becoming an influencer, but being able to earn a full-time salary is challenging. It’s a considerable amount of hard work, requires some luck, and the field has gotten competitive. And that’s why some experts suggest aspiring content creators consider freelancing.
What influencers really earn
Just 4% of the estimated 50 million global creators are earning more than $100,000 a year, according to Goldman Sachs Research. And 48% of creators earned $15,000 or less in 2023, reports The Wall Street Journal, partly due to social networks reducing creator program payouts and other incentives used to encourage posting.
Due to creator saturation, brands have more creator partners to choose from, sometimes leading them to be more selective over who they work with and pay less for that work.
And investing time and resources solely into these social networks is an unpredictable pay-off, considering the changes to X (formerly Twitter) since 2023 as well as TikTok’s uncertain future in the U.S.
“Going full-time as a creator can be challenging, especially when relying on brand deals, which can be inconsistent and volatile,” says Lindsey Gamble, a consultant, advisor, and speaker on the creator economy and influencer marketing.
Diversifying your income
Despite these drawbacks, you don’t need to abandon your aspirations to become a creator or influencer. But for most people, it’s not a realistic full-time focus or going to deliver the pay day you may be thinking. Instead, more professionals will find success by being a well-rounded freelancer and having one of your focus areas be creating content for social media. That way you’re not disregarding your interests in being an influencer, but also protecting your income.
Freelancing can provide access to a wider range of projects diversifying your income and providing better long-term stability. As a freelancer, you have the ability to offer a mix of services and products to companies and individuals based on your expertise and experience.
“Diversifying types of work and clients is paramount for younger workers during this period of AI-boosted jobs and work disruption,” says says Sophie Wade, workforce innovation advisor and instructor, and host of the Transforming Work podcast. Relying only on influencer/creator income is unwise, rather than developing transferrable skills, diversifying clients and projects, and building a range of experiences and expertise to be prepared whichever way markets evolve.”
Freelancing takes many forms like offering consulting, coaching, creative services, marketing, technical support, professional training, project management, speaking, and other services. For example, a web designer could offer brand partnerships on social media as a content creator, sell courses to other designers, and provide website redesign services to companies. That way, as any aspect of your business ebbs and flows due to seasonality, economic conditions, or whatever other reason, you’ve got multiple income streams to rely on.
Plus, freelancing lets you diversify your presence beyond the highly competitive social media landscape, helping you compete for work across private and public marketplaces, networking platforms, industry events, and professional communities.
Finding creative fulfillment
Diversifying your offerings allows you to vary your day-to-day workload, so you’re not repeating the same tasks over and over again.
“Sometimes, I get bored or creatively drained working on the same kind of projects, so alternating between freelance and creator work allowed me to be creatively free and work with a variety of brands,” says Jayde Powell, a freelance social strategist and content creator. “Doing both truly feels like yin and yang—different but balanced—which has allowed me to establish my own lane as a creatorpreneur.”
And the advantages of diversification works in all directions whether there’s times you’re getting stability and income from being a content creator, a speaker, an advisor, or in another capacity.
“If there’s anything [the last year] taught me, it’s that having two streams of income is not only fruitful for my purse but also for my mental health,” adds Powell. “As is the case with freelance work, sometimes you can go months without picking up any projects. I often found myself in a position where agencies I would talk to knew they needed a freelance social strategist but simply weren’t ready to bring one on. My saving grace was working as a creator and influencer. My earnings from my brand partnerships often helped supplement my income as a freelancer, which mitigated any potential financial stressors I could have had.”
Keep in mind that there are some barriers to entry with freelancing are higher than posting on social media, as you’ve got to earn professional experience, develop an in-demand skillset, and attract clients.
“Freelancing is less familiar to Gen Z, who have undeveloped professional networks and skillsets, and it takes time to grow a client base,” says podcaster Wade.
In most scenarios, offering freelance services will require that you’ve worked at a company full-time for at least a few years to get hands-on experience, gain professional contacts, and earn any necessary credentials. That way you’re qualified to provide high-quality services, potential customers can trust in your offerings, and this experience can act as a starting point for growing a customer base.
This is where being a content creator is advantageous as you can generate valuable visibility for your other types of freelance work.
Finding the right balance
“For freelancers, creating content is key today; it helps you get in front of prospects, showcases your expertise, and gives them a preview of what it’s like to work with you,” adds consultant Gamble. “As someone who left a 9-to-5 six months ago, I’ve found the combination of creator and freelancer to be working really well. Both sides complement each other, helping you secure bigger budgets and become more integral to the companies you work with,” he says.
That’s where freelancing and influencing go hand-in-hand. You’re not only being flexible in the support you’re able to provide to clients, but giving yourself options to ensure you’re financially stable, enjoying variety in your day-to-day work, and continuing to develop your skills in the process.
“I think increasingly people are answering questions that have been posed as an ‘or’ with an ‘and,’” says Ziad Ahmed, an expert on Gen Z and the head of Next Gen at United Talent Agency. “We have watched as creators have evolved into actors and entrepreneurs, as baristas have turned into internet sensations, as freelancers have taken yearly hiatuses to be travel bloggers, as the lines between creators and creatives and colleagues have all blurred.”
There are no shortage of options to explore and benefits to tap into as a content creator, but it’s a competitive and unpredictable path that many will struggle to turn into full-time work. A more realistic approach is to diversify as a freelancer, and make creating on social media one of the many skills you offer.