If you want to understand how the reputation economy of social media gets converted into cold, hard cash, you couldn’t do better than hear from James Nord. His perspective on how money is traded for status is a taste of an alternate economy that up to now has only been seen in science fiction.
— Tim O’Reilly
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.
James Nord is the cofounder and CEO of Fohr Card, which builds technology that helps brands and influencers work together more efficiently. Fohr Card uses millions of data points and fairly complex algorithms to help make the best influencer recommendations, set fair market pricing, and report on the efficacy of a brand’s social media campaigns. Prior to starting Fohr Card, James was one of the most followed photographers on Tumblr and leveraged that following into a lot of free clothes and gigs with Oscar de la Renta, Thom Browne, Puma, and Stella Artois.
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