How would 937 creators pay $2,022 (Creator Survey Results) |
We asked 900 creatives to tell us how much they'd pay $2,022 in order to increase their revenue. This is what entrepreneurs and creators require to achieve their objectives by 2022.
If you were given $2,022 dollars to put into your business, how could you make of that money?
Would you invest in new filming equipment? Are you part of the elite group of business masterminds? Employ a virtual assistant lighten your load?
Many creators have their own funding, and knowing what resources are worthwhile to invest in isn't easy. Due to budget constraints, creators typically have to make hard choices about what to buy today and what they should place on hold for later.
But how would that change when financial obstacles were eliminated?
In order to answer this question We asked more than 90 creators to tell us what they would do with $2,022 to expand their business.
They found five primary spending categories:
Hiring extra help (43%)
New hardware (25.4%)
New software (26.7%)
Education and coaching (24.3%)
Paid-for advertising (17.8 percent)
(Because we included an open-ended query most creators listed multiple things they would purchase. We then tallied the responses of every item mentioned, so these percentages total greater than 100 percent.)
If you've got funds to invest , but you're not sure what to prioritize, this information can guide you in the direction of your strategy. But if you don't have resources to put toward your company right now, that's okay too.
Creators spend money to get outcomes. Hiring extra help results in longer hours. New hardware results in higher quality information. Coaching improves efficiency and focus.
Every purchase has an outcome that you want which is why you might have the same results using budget-friendly options. In this article we'll offer suggestions for keeping your business going towards the desired direction even if you can't locate $2,022 inside your coat pockets.
What are the best ways to get the maximum benefit from the money you've got? What are the best investments in achieving your business goals, now and in the near future?
Here's what our creators had to say:
43% of entrepreneurs are willing to invest in outside help for their businesses.
If you've ever thought of an extra set of hands for your company If you've ever thought about hiring an extra pair of hands, then you're not.
It also involves cooperating with experts to create courses and collaborate on specialized projects. Additionally, this category covers done-for-you services like designing logos and websites.
Many respondents said that employing additional workers would enable them to be able to concentrate on projects that are in their field and to assign less fun tasks.
It wasn't always clear what type of assistance they'd like from an outside source however, among those who were able to do so, here's the summary:
10.57 percent of participants would consider hiring the services of a virtual assistant.
Virtual assistants may assist in organization, behind-the-scenes projects as well as administrative tasks. They can also provide specialized services like customer service or community support. They also offer management of social media.
7.68% would spend the funds on their site.
Many webmasters would like to engage the services of a web developer to build a personalized site. Many also need help in migrating their existing website to a new website platform.
5.66 The majority of people would employ graphic designers.
4.16 percent would be investing in a new logo and other branding tools.
A fresh logo or custom branding consulting can breathe fresh vitality into your business.
3.95% would work with an editor or writer.
Certain creators state that they'd prefer to employ a sales copywriter or ghostwriter. Words have power, and well-written content can work great things for your company.
Here are some resources to assist you in taking your writing and writing to the next level There is no external help is required.
2.03 A majority of users would choose to hire videographers.
Videographers are able to help create and edit video for classes, marketing materials Social media, courses, and beyond.
2.03% would hire photographers.
Creators typically work with photographers for photo shoots of brand images, product photography, and new website images.
1.71 The majority of people would employ somebody to help with search engine optimisation (SEO).
SEO services include site audits as well as specialized tools and consultations. SEO can help you get organic website traffic, which will mean more attention to your website in the long run.
The bottom line is that over 40% of the respondents seek outside assistance with their business.
If you find yourself tangled with a seemingly endless list of tasks outsourcing to professionals as well as assistants and service providers is a great method to earn some back and receive experienced input.
25.4 percent of creators spend money on innovative equipment
Let's take a closer look some specific investments creators that were mentioned:
16.76 percent of those polled are willing to buy audio equipment.
The equipment for video includes recording devices such as green screens, microphones lighting kits, as well as other gadgets for producing top-quality video.
Remember, you don't need to possess the biggest and most expensive equipment in order to create amazing video content. Some simple audio and lighting modifications can make your videos look more appealing. a fresh new look.
5.12 percent further stated that they will purchase an entirely new video or camera camera.
4.06 percent of people would buy a new computer or laptop.
Numerous creators claim the fact that their PC is old slow and inefficient, leading to the loss of time and frustration. A new computer would mean greater efficiency and fewer headaches.
2.67 percent would improve the office in their homes.
This includes purchasing a new desk, updating monitors, installing soundproofing or creating a studio area for filming.
1.28% would purchase podcasting equipment.
Audio equipment and microphones that are of the highest quality could take podcasts to the highest level.
The data suggests that producing top-tier audio and video content for online classes, podcasts, YouTube as well as marketing campaigns is a priority for our authors.
They are passionate about creating the best content they can, and equipment upgrades can be a game-changer.
26.7% of creators would invest in software
The right software keeps businesses functioning efficiently.
Several creators hope to purchase annual software subscriptions upfront and eliminate recurring charges.
Additionally, 16.97% said they will upgrade their plans or buy a entire year.
The percentage of people who will spend money on hardware and software is nearly identical, which shows us that digital devices are just as important as physical ones in 2022.
24.3% of creators would spend money on their education
The desire to learn is one of the common themes in the entire data.
Creatives are eager to know more about entrepreneurship and hone their skills. They don't fear being unsure and believe that investing in knowledge will help them reach their goals faster.
13.55% of all respondents specified that they would spend money on coaching.
Many people don't wish to go into their ventures by themselves, and getting guidance from experts and mentors can stop creators from creating a completely new system.
If a paid training or course isn't on the table in the near future, communities that are free are a great alternative.
17.8 percent of creators spend the money on paid advertising
If you've ever dreamed of the possibility of a large ad expenditure to play with, you're in good company.
17.8 17% of creators would put the cash into paid advertisements on platforms like Facebook, Instagram, Pinterest, YouTube, LinkedIn, as well as Google.
When executed correctly, paid ads can drive constant traffic to your product.
Another way creators can spend $2,022
The majority of answers fit into one of the five categories mentioned above, other interesting trends emerged:
3.95% of creators would use the money for scholarships or contributions.
The creators of some programs hope to establish scholarships so deserving students can be enrolled in their programs at no cost. Others plan to donate some or all of the money to charities.
2.3 percent of authors are willing to invest in events in person as well as travel costs for their business.
This number includes experiences like conferences, trade shows or, for one instance, traveling to record content by guest musicians.
Additionally, certain creators might put the money toward hosting live events in person, making reservations for locations, or running workshops for customers.
2.03 A majority of artists will invest in supplies needed for their craft.
Materials like paint, instruments, yarn, and other items of a physical nature can become a significant expense for those teaching music, art and other crafts, as well as construction and other hands-on skills.
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0.85 Percent of artists are willing to rent studios.
Dance instructors, musicians as well as cinematographers require a specific spaces to film and produce their content.
1.49% of creators will see their work published.
While many creators mentioned that they hoped to publish someday, 1.49% of creators specified that their book was at its end. They need the money to pay publishing fees along with other costs that are associated with traditional and self-publication.
0.75% of creators will spend their cash on legal fees as well as consultations.
The diversity of responses highlights the variety of creator experiences that can be. There's no cookie-cutter formula for the best results, and there's no single way to build a business, which is why we love it.
Can you buy time as creator?
When we looked over these responses and looked for patterns in the data the one thing that was always popping up was the necessity not to pay for anything however, but for the need for time.
While it's hard to quantify this into a precise measure or category, a lot of creators had the same idea of wanting to make use of their money to purchase time to work on their interests.
Ironically, time is one of the things that creators are unable to buy.
However, this resonated for me, and maybe you too. There are many times when we have thought about what we can do using days, hours and months of time in which to pursue our passions. Time is probably our greatest asset as creators, and there never seems to be enough of it.
However, here's the way creators can address this problem:
In the past, 43% of entrepreneurs have a plan to seek out outside help for their company. The hiring of specialists, assistants as well as team members are able to ensure that projects are on the right track when you're not able to do everything yourself.
3.42% of creators would spend the money on time-restoring expenses such as childcare, household assistance or time off from their jobs, and working fewer hours working on other jobs, such as chauffeuring for Uber.
5.2 Percent of creators could pay personal costs like rent, utilities, internet bills, and their salary, so that they could spend more time in their work.
Creators also noted that having extra money in the bank relieves financial pressures and daily worries and can unleash more creativity. Making great creative works is challenging during stressful times but the funds can provide some breathing room.
One example is that one candidate explained that the fellowship would pay for their expenses during three months, freeing up their time and resources to create various innovative programs.
If they had the cash the business could not invest their time in tasks that didn't pay off, and they could go all-in on their business.
Although we (sadly) aren't able to buy extra time in our day the creators of this website came up with innovative workarounds so they can be more productive doing the things they truly love.
Before we wrap up, here's a quick overview of how we gathered the information in this study.
The method we used to conduct this study
We asked "If you received the $2,022 fellowship, what would you spend it on? Write down anything in your head," and included an open-ended field for answers.
Over 900 applications were received. applications.
Then we grabbed an espresso, went through them, and organized the responses. We used responses from 937 creators. The many of the responses fell under the five main categories discussed in the previous paragraphs.
We also identified responses that mentioned specific expenses including coaching, cameras as well as the hiring of an assistant virtual.
The tags allowed us to gather more refined data about what people would buy within each overarching category. In the event that an answer did not be able to fit in one of the categories mentioned above, the tags helped us identify other trends.
Candidates were at various levels of their entrepreneurial journey. In response to questions about their personal experience at the level of:
30.85 percent of them identified as being beginners
8.11 Percent of respondents identified as newcomers
40.98 Percent identified as mid-level
15.80 Percentage identified as advanced
4.27 percent of them are experts.
We were awestruck by how many entrepreneurs build livelihoods around their interests, and this provided us with a diverse perspective.
The most important takeaways we can draw from our creator survey
We asked over 900 creators about how much they'd like to spend on $2,022 in order to boost their business. Through their elaborate responses we found that
Being on your own can be challenging. 43% of creators would hire external help to elevate their business.
The creators are looking to create best-quality content. 25.4 percent of the respondents said they are willing to purchase hardware and 16.76% specified that they would prefer better equipment for video production.
Businesses that operate online rely heavily on digital tools. 26.7 percent of the creators purchase software to help keep their business running smoothly.
The creators of the future are eager to improve their skills. 24.3% of applicants are willing to invest in education and 13.55% specifically wanted mentoring or coaching.
Paid ads are still the best option to reach an extensive audience in a short time. 17.8% of creators would spend money on paid advertising campaigns.
This report provides an overall look at how creators want to invest their resources however, remember that you are able to do amazing things in your business with a small budget.
Of the 937 responses we used to calculate the data, none were alike. The way you travel may be different than other artists around you, and that's a beautiful thing.