The Social Economy Cycle; Influencers Vs Entrepreneurs
Do you think that influencers are business people? Their methods different but aren’t they working towards achieving one goal? The influencer focuses solely on presenting a product to an audience while an entrepreneur will focus on presenting a brand. Neither is more complex than the other because they both work towards marketing their products to their audiences.
In lay terms language, we can define the social economy as a branch of economics that focuses on the social behavior of a society and economics. This will help us look at the differences or similarities between influencers and business people and their relation to economics. About ten years ago, influencing didn’t exist but now we have the most popular influencer, Kylie Jenner earning about 1.2m dollars just by posting a single post on Instagram.
Let us be honest with each other, it is a new era of business that came with the millennial generation which doesn’t believe in the old-school way of becoming rich. Let us have a look at the stages of the economic cycle and see if they affect both parties alike;
A stage where the economy experiences rapid growth and will be beneficial to both influencers and entrepreneurs because interest rates will be low and production levels shall increase. It will be good for business because both parties shall thrive and boost the economy.
Businesses thrive and sell products in demand. At the peak stage, the growth of the economy has reached its maximum rate and this will create imbalances that will need correction. It will not be beneficial to either party till the economy is balanced.
Is a slow business period for influencers and entrepreneurs due to stagnant prices and slow growth hence less demand. Some tend to curb spending money during this time to avoid borrowing money at substantial interest rates. But the correction of the imbalance at the peak stage starts here.
Just as a trough has a flat base, it acts as a symbol to the economy at this stage and that’s at its lowest point. However as the saying goes, when you hit rock bottom there is only one way to go and that is up, the growth curve starts to recover and rises gradually. It becomes a difficult time for entrepreneurs and influencers but with light at the end of the tunnel.
Seeing as truly the business cycle and its stages do affect entrepreneurs and influencers alike, they’re encouraged to strategize their economic cycles properly to be able to survive from them and profit as well.
So yes, influencers are business people because their marketing strategies are very similar. Pushing a product on social media these days is a given and not biased. Both entrepreneurs and influencers contribute significantly to the world of business but in different and diverse ways, knowing what each of them wants and what works for them and their business. The business community needs to grow as well as the influencer space because they are the same person.