The global influencer market is estimated to be worth over $13 billion (USD) by Statista.
Since 2016, this online phenomenon has grown exponentially, making social media influencers an integral part of marketing.
Adam Silverman, HBA ’20, was always fascinated by the influencer market.
In his final year at the Ivey Business School, Silverman - together with co-founders Sean MacGillis and Benjamin Gallacher - launched Hot Dot Media, a media company that matched large brands and influencers.
But Silverman wasn’t simply looking to get a piece of the pie.
He saw influencers as artists and entrepreneurs, crafting stories and engaging content that deeply connected with their audiences. It’s a particular skill that carries financial worth.
The industry norm for influencer marketing included large-scale contracts, even 360-type deals, which left influencers with little creative control. Some would work as simple pay-to-post deals, leading to uninspired content from creators who had no real connection to a brand, or fake enthusiasm that could dilute the reliability or authenticity of an influencer.
Silverman wanted to flip the script with a creator-first model.
We really look at it from a different lens. If we just bring individual deals to creators, we basically ensure that the creators are only doing deals that they are actually passionate about.
When connecting with new influencers, Silverman’s first question is what brands they really want to work with; which brands personally align with them?
Additionally, MacGillis and Gallacher, both Toronto-based investment bankers, have played a significant role in screening and bringing the right brands to the table.
By putting the creator first, understanding their passions, and the make-up of their audience, Silverman and Hot Dot Media have delivered consistent wins for both ends of the business.
That success didn’t go unnoticed. In the summer of 2021, Hot Dot Media was acquired by Wondr Gaming, a publicly-traded company on the Canadian Securities Exchange (CSE) that builds partnerships and fosters community within the gaming and esports industries by creating and acquiring new assets.
First attempt in learning
Coming from a family of entrepreneurs, there seemed little doubt that Silverman would carry on the tradition.
One of his earliest ventures involved importing and selling Topnosis from FAO Schwartz. In high school, using websites like Kijiji.ca, he created a business to liquidate items from homes sold by his mother, who was a realtor. The frequent back-and-forth involved in settling on price was one of his earliest introductions to negotiations.
For Silverman, each lesson learnt is a relevant part of his journey. Whether it’s from the classroom, or running a business, Silverman has detailed the role each experience has played in forming him; particularly those stemming from failed ventures.
“To fail (F.A.I.L.) is your first attempt in learning,” said Silverman, quoting former Indian President Abdul Kalam’s famous abbreviation.
One of those misfires was a smartphone waterproofing service through a machine he purchased from China. Every morning, Silverman would stand outside Toronto’s Eaton Centre, selling the concept to customers. The business never took off, but it helped Silverman discover more about himself.
“I can get up early every morning and go sell, give my all, and stay committed - even when something is failing,” said Silverman.
Silverman dreams of having a display wall with all his failed business ventures.
I look to all these ventures that I had as opportunities that I really got behind something, and gave it my all. The only reason some failed was because they didn’t align with my personal values.
Lessons inside and outside the classroom
Throughout his time at Western, Silverman was heavily involved with student clubs, worked and developed startup ideas at the Propel workspace, and was co-president of the Ivey Entrepreneurship Club. In 2020, he received the Sabourin Family Award for Entrepreneurship. Silverman also ran his own marketing firm for three years, working with startups looking to create their initial product or marketing material.
One of the courses that opened up a new world for Silverman was Sales Foundations with Eric Janssen, HBA ’09. Silverman remarks that the course seemed designed for him, pushing and pulling him out of his comfort zone, and drawing out the confidence he needed to go out and be a businessman.
Notably, one of the major lessons that came out of that class was seeing the happiness and contentment of the guest speakers.
It is something Silverman reflected upon with Ivey lecturer David Simpson's example of Warren vs. Jimmy Buffet.
The multi-millionaire investor and CEO of Berkshire Hathaway, Warren Buffet, is a name you would expect to hear at a business school. But Simpson draws students to look at Jimmy Buffet's own business empire, which includes rights to his own music, the Margaritaville empire, and more.
"To think like Jimmy Buffet is so essential," said Silverman.
You don't need to be the biggest or the best, but as long as you are happy doing what you are doing, that's gonna take you further than any traditional career path.
It was a lesson that was reiterated through Silverman's first internship opportunity at a large corporation. While he gained critical experience and skills, it helped him discover what he did not want to do for the rest of his life; working in large organizations with structures that took weeks to make, review and implement decisions.
“I love working with big corporations, but I don’t want to be part of a team that can’t move at the pace I want to move,” said Silverman.
While encouraging students to think hard about where they intern, Silverman also advised them to build international networks. Networking is an essential part of the Ivey HBA program, but students can easily restrict themselves to familiar Toronto-based or Canadian contexts. Apart from growing his Ivey network, Silverman’s participation in the Israeli Birthright Excel Accelerator (virtually due to the pandemic) opened the door to another vibrant entrepreneurial ecosystem. In his day-to-day work, he continues to connect the dots and leverage each of his networks to build a global enterprise.
As he begins his new post as the Head of Media for Wondr Gaming, Silverman is eager to put all those networks and new resources to work.
While he might not have the same ability to be agile, he is excited to play in a larger sandbox with a variety of verticals.
With a career already full of life and business lessons, he’s sure to encounter more.
Good thing he’s an avid learner.