Can Social Media Influencers Make or Break Your Business?

When businesses look at new ways to spread awareness about their brand, social media influencers are the new key to furthering their message authentically and profitably.

Breaking A Business 

What happens when a business does not use any brand promoters or influencers? Can the endorsement of influencers still affect the business?

Picture this: The year is 2018, it’s just another day in February until Kylie Jenner decides to make another post on Twitter. This was not just any post, it was the post that cost Snapchat stocks to fall 6%. If you’re thinking 6% isn’t a lot you are wrong. That tweet caused Snapchat stocks to dropped a whopping $1.3 billion, of the market value within 24 hours. 

Let’s check out the infamous tweet to get a better understanding of what was said on that day.

Several hours after the report that Snapchat stocks were dropping, Kylie decided to post another tweet.

Unfortunately, it was too late. The damage was already done; the stocks had already started to drop.
Snapchat had recently redesigned its app to create a more personal experience for users. However, there was a lot of backlash from users by making these changes.

This update caused the location of content to be moved in the app leaving users confused and frustrated. When it comes to the power of celebrity endorsement, it certainly has a more powerful effect on social issues. After Kylie’s tweet caused the Snapchat stock to drop. Snapchat released a statement and video addressing the changes to the app.

Making A Business

On December 12, 2016, Fyre Festival was ignited. This was an event that was sold by the power of celebrity endorsers, known as “ The Fyre Starters”. 

Fyre Festival was solely promoted via Instagram by Chanel Iman, Kendall Jenner, Emily Ratajkowski, Bella Hadid and several more well-known high-profile social media influencers. None of the influencers initially revealed that they were paid to make their post. Due to their endorsements, 5,000 tickets were sold out in 48 hours of launch day.

This update caused the location of content to be moved in the app leaving users confused and frustrated. When it comes to the power of celebrity endorsement, it certainly has a more powerful effect on social issues. After Kylie’s tweet that caused the Snapchat stock to drop. Snapchat released a statement and video addressing the changes to the app

Fyre Festival which was held in the Bahamas was advertised that guests would have a similar experience to Coachella. Guests were promised two luxurious weekends comprised of staying in luxury villas, receiving gourmet meals, attending multiple concerts and lots of other adventure including water sports. The official announcement for the event stated, “The actual experience exceeds all expectations.”

Fyre Festival Announcement

Regrettably, when guests arrived on the island, their expectations were exceeded in the worst way possible. They had to stay in FEMA tents and received prepackaged food as meals. By this point, all the headliners had pulled out of the festival. Fyre Festival ended up being a complete disaster and was being postponed, which eventually lead to it being cancelled.

Food & Housing At Fyre Festival

Since Gen Z and Gen Y are more impacted by the recommendations of social influencers, it’s safe to say that when it comes to the power of influencers they can never be underestimated. Influencers have the power to either make or break your business depending on how they choose to support and comment.

Sources:

https://money.cnn.com/2018/02/22/technology/snapchat-update-kylie-jenner/index.html#:~:text=Kylie%20Jenner%20is%20not%20happy,of%20Snapchat’s%20most%20influential%20users.

https://www.theverge.com/2018/2/22/17040332/snap-stock-price-kylie-jenner-tweet-snapchat-1-billion-market-loss

https://www.elitedaily.com/news/horrifying-tweets-show-fyre-festival-left-partygoers-stranded-hungry-broke/1888933

Check out @cwright44’s blog post on@WordPress about If Social Media Influencers Make or Break Your Business? https://bit.ly/3cxRcwy

Thinking about using social media influencers to grow your business? Before you decide take the time to read my blog post on WordPress about If Social Media Influencers Make or Break Your Business? To see if Influencers are right for you. https://bit.ly/3cxRcwy

One thought on “Can Social Media Influencers Make or Break Your Business?

  1. Loved reading the blog especially that I remember the incidence of Kylie Jenner and her post about Snapchat, as if it happened yesterday . I agree with you about the power of influencers as they have strong impact and should be used wisely !

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