In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are doing business battles daily from there. (Answers are edited and thickened for clarity.)
Joey Reuben is an 18-year-old high school senior in a Chicago suburb. While many children their age have part-time jobs, Joy owns a social media consulting company called Joy Reuben Consulting that works with large corporations such as Fashion Nova and Sports Media Outpost Lines.com. Joey is also the co-owner of the Happiness Project, a company that raises awareness and funds for mental health. This year, the Happiness Project donated $ 50,000 to the National Alliance of Mental Illness (nami.org).
We discussed with Ruben his path to running his own company, working with top influencers including Addison Rae, Kendall Verts, Tyler Cameron, Jade and NLE Choppa, and getting his advice for any business Wanted to expand their social media footprint.
What does your company do for its customers?
Whenever I am hired for a new consulting position, my role changes slightly depending on the needs of each company. For example, the sports media company I am currently working with, I am in charge of claiming their desired handle on all social media platforms by working directly with the brand representatives of various social media platforms. I am in charge of building their audience on their website, as well as their TickTalk and Instagram viewers on their theme pages, such as @kickoffs and @real_nbamemes.
For companies like Happyness Project, my main focus is to handle influential marketing, content creation and social media services, such as getting our desired handles on various platforms. In just one month, we have gained over 150,000 followers on our Tiktok profile.
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How did you get started in social media as a means of earning money? What was the moment when you realized that you did something for fun that could generate revenue?
In 2016, when I was in 8th grade, some of my friends and I each created our own mem accounts on Instagram, which look as a joke about who can get the most followers. In just a few weeks, I had gained over 10,000 followers and started having some fun with it. About two months later, I had about 40,000 followers. I noticed that individuals started sending me frequent messages to purchase advertisements for various apps, clothing companies, music, and other Instagram accounts. I started responding to some direct messages and read a lot of information on the internet about how much people are charged for advertisements. I started paying around $ 30 per ad on my page. It wasn’t a ridiculous amount of money, but for 8th graders, it was really inspiring. It opened my eyes to endless financial opportunities on social media and inspired me to want more.
Can you break models to make money with social media?
In 2018, after about 18 months of growing my account, I have now gained over e million followers on Instagram. After hitting a million followers, I started posting more advertisements for a larger amount. I was posting about $ 150- $ 300 per post two-to-three ads per week. This may sound like a lot of money, but the market is more established than the advertising rates that are now, those prices are on the very low end. Some mem pages on Instagram, such as @fuckjerry, may charge upwards of $ 50,000 per ad. There is no set algorithm for how much one should charge for an advertisement. Rather, it is based on several factors such as niche, engagement rate, and follower size. Most people with an Instagram theme page with an active following of 1,000,000–3,000,000 followers are making it to the six-figure range every year if they are doing it right in today’s market.
What happened to your first social media business?
My first social media business was my Instagram mem account. Unfortunately in August of 2018, my page was hacked and I was never able to recover it.
How does it affect you financially and emotionally?
Losing my account definitely affected me financially, but the actual toll I took was emotional. I really went for life about how I wanted it to essentially lose its job overnight. I felt as if I had lost my identity and a part of myself. I fell very low in grade school, and I lost my temper easily.
What lesson did you learn from that first shock?
I learned that it is impossible to succeed without failure. After losing everything, I began to feel sorry for myself instead of realizing that I had nothing to lose and was trying to recreate what was taken from me.
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How did you get yourself back into the game?
In 2019, about 10 months after losing my account and not knowing what to do next, I started watching a new social media platform called TikTok. After a little research, I came to know that there used to be an app called Tiktok Musically, bought by a big technology company called ByteDance which was advertising millions of dollars for its new app. I was immediately intrusted and downloaded the app. I started watching the video on the “For You” page and realized that this might be my chance to get back into the game. I started a Tiktok mem page then. At that time, very few people were making a Tiktok mem page because there was no money in it yet and the social media platform was not set up like Instagram. I knew that everyone would finally come from Instagram when they saw how much potential this app had, so I used it to my advantage as I moved quickly. I started posting different types of content over the next few months to learn the algorithm, which learned what worked and what didn’t. Fast forward a year, I now have over 1,800,000 followers on the first page that I created – @funny – more than 700,000 on my second page @gods and also, I have five between 100,000-400,000 like @viral There are other pages, which have more than 300,000 followers.
Explain how big influential people go about demonetizing their TechTalk accounts.
One of the biggest ways influential people make money on Tickcock is through record labels that will record them dancing to their songs. Record labels are pouring millions of dollars into Tikotok advertising because the trending songs on TikTok are similar songs at the top of the Billboard charts. This strategy works very well because as small influencers see big influencers dancing to these new songs, they also do so. Since big producers inspire small creators to imitate their positions, the record label does not need to pay small creators who are following an existing trend and in the process advertise their song to someone Are not even at cost.
How have you used TikTok to generate revenue for yourself?
Even though TikTok has flown in the past year, and is the fastest growing social media platform in history, advertising rates are not as clear as it is now Instagram because the market is less established. I would typically post one-to-two ads per week which would typically fetch around $ 600- $ 800 per post on my 1.8 million-follow-up page. I may turn off TikTok more, but I don’t want to observe my big following and lose significant engagement because I’m posting multiple ads. I have several other jobs that generate far more revenue than TikTok, but I see TikTok as a long-term investment and currently plan to sell my pages in the future. I received a $ 70,000 offer for my Tiktok page, but turned down the offer. Currently, I am less involved on my pages day to day and have a hired team that runs all my pages, allowing me to focus my attention on my other consulting tasks.
How many hours do you spend managing social media accounts?
During March, when the whole world went into lockdown, I averaged over 12.5 hours of screen time per day. I knew everyone was at home like I was bored and was scrolling endlessly through my “For You” page in Tiktok. I knew that if I wanted to back off before and after that I needed to capitalize on it. To maximize this opportunity and my time spent growing my accounts. Later, I read that Internet usage in the US increased by 18% during March compared to the previous year. My initial observation about him being at home on his phone was correct and ended up paying. Close.
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Now that I have created my accounts to a point where I do not need to put all my effort into my daily maintenance and development, I have my team to post accounts for me. My team is run by Jack Zebka, who handles the day-to-day operations of posting on my accounts. Jack is a friend of my high school whom I have known since grade school and has proved to be reliable, hard working and incredibly reliable. People say that working with friends never works, but as my good friend Chick Appleby once said to me, “Working with friends is fine as long as they are qualified.”
Are you seeking customers or are they looking for you?
In the past, I used to look for clients, but the jobs I am currently working in, I am not actively looking for new customers.
What are the two main pieces of advice you are trying to make in the social media industry?
1. Research only you can get yet. Making mistakes, as well as trial and error, is where actual knowledge comes from. I have failed hundreds of times, and every single failure has given me some value.
2. Don’t be afraid to leave money on the table in the short term if it can lead to long term gains. In the past, many companies like Fashion Nova have offered me a job contract for a significant amount. But instead, I offered to work for the first month for free, allowing me to prove my eligibility before signing a long-term contract.
Published and source: https://www.entrepreneur.com/article/362401