James Nord of Fohr Card shows us how the reputation gained through social media gets traded or converted into cash.
Quotes from James
We created a "Quitter's Club" at Fohr Card to celebrate people who have quit their jobs to pursue their passions. Every time we get an email from a new "quitter," it puts everything we are doing into focus. Influencers are sharing their vision, doing what they love, and building businesses out of passion. I love that.
This is the way I like to frame an influencer’s power: Take the biggest football stadium in the country. Now, put two of them next to each other [and] fill them to the brim with people who are interested in potentially purchasing your product. Put the person they trust explicitly to give them advice on the kind of products they should buy on stage. Give that person 10 minutes to talk about your product. There isn't a single brand in the world that wouldn't pay $5,000 for that.