outsourceeasilycom Blog

What Is the Creator Economy?

Jun 16, 2022

What can you do to get in on the action?

In 2012, a new small business sector was born, which is referred to as "the creator economy". It's likely that you've heard the expression in the past, but what exactly it mean?

A Creator Economy is another name for any small business that are run by content creators who are independent. They are typically individuals like...

  • Influencers on social media,
  • Streamers
  • Internet personalities
  • Online instructors, and the like

The category can also extend to the tools creators employ to make money and grow their revenue.

In this article, we'll dive deeper into the creator economy. We'll review several exciting facts about this rapidly growing industry, and provide the steps to start in this new field. So let's get going!

What is the Creator Economy?

The Atlantic trace the beginnings of the word "creator" back to YouTube celebrities in the year the year 2011. YouTube was a place where ordinary people could upload their content with the world.

Before YouTube existed, it was impossible to imagine that an artist could easily publish their work to millions of users at no cost. Nowadays, YouTube is the most popular website in the world, making it one of the most popular media platforms.

At the same time selling videos has become an enormous business. The result is a lot of opportunities for creators and have increased their number:

Creators use popular social platforms to draw attention of their audience creating educational or entertaining content. Then, they can make money through advertising, marketing products to their fans, or charging for instruction.

Common channels for the creator economy include:

Each of these platforms is effective for different types of content. Highly successful content creators typically utilize a variety of platforms to increase their audience and reach quicker.

The reason the creator economy is a Big Deal

Thanks to COVID-19, the creator economy is exploding. It isn't showing any sign that it is slowing. Experts predict that by 2022, that the economy of creators will become an 100 billion+ dollar industry.

For example, Marc Ribillet is a musician and comedian who has recently joined forces with Fitbit for a new line of advertisements:

Rebillet started his journey back in 2016. To have amusement, he started publishing funny live streams as well as YouTube videos (often as boxer-style shorts).

As per Wikipedia the YouTuber has 11.8+ million online streams with more than 127 million views on YouTube, and over 2 million YouTube users. That's serious business.

The creator economy is so powerful that it's altering the entire marketing sector. The major brands are beginning to turn their focus toward creators instead of traditional marketing.

How to Be Involved in the Creator Economy (In 4 steps)

Participating in the creation economy is actually pretty straightforward. While beginning isn't difficult, finding success does require patience and a good strategy. Here are four steps to help you along the way!

Step 1: Search for a Niche

Finding success in the creator economy will be more probable if you have a good segment. There are more than 50 million creators that you can compete against. Selecting a niche that is highly targeted can limit the chances of being competitive and will help you stand out.

For example, many crafters have built a fan base by sharing videos showing their processes. Josie Lewis is a painter who has gained an enormous following thanks to her distinctive "chunky paint" technique on the internet:

A focus on a lesser-competitive area will offer you a better chance of attracting followers. Also, it's helpful if you have prior knowledge, expertise or an interest in the subject and are able to use this to create a large amount of content that is high-quality.

Step 2: Create Content

The next stage for a creator is to create. With the rise of TikTok and Facebook Reels, video content is an excellent method to look at. Different types of content could also be a viable alternative to videos.

As an example, the Shawn R the Shawn R an Show interview the members of military elite groups to provide an inside look into the special forces' actions. They are also available as videos via YouTube as well as a hosted service or as podcasts on Apple as well as Spotify:

Depending on the type of content that you write depending on the type of content you create, some platforms are more suitable than others.

In particular, many comedians have been successful in the world of short-form videos, including TikTok, Facebook Reels, as well as Instagram Stories. However, the creators of instructions for DIY are usually better-off on YouTube.

And, as we'll discuss shortly in the next paragraph, the WordPress plugin is an excellent option to earn money from your blog content regardless of the type of content that you create.

Step 3: Build an Audience

The goal of creators is to increase their audience. The fans (or students, as in the case of instructors) are essentially the economic currency for the creators, translating to reach, views as well as sales.

In the case of instance, Ryze Hendricks' Weird Bars series has earned him more than 5 million users on TikTok. The artist is now selling his own albums and performing live performances:

Step 4: Monetize Your Content

When you've gathered an audience, it's time to monetize your following. It is possible to use a range of strategies for this. These techniques may be influenced by the kind of the content you produce, your platform, as well as your preferred method.

Paid advertising is among the most commonly used monetization strategies specifically for video content. You can find a company who has the same audience as yours and share their ads with your video content.

Plus, many platforms, including YouTube let you easily to earn money with your video by taking care of most of the advertising process , and also allowing advertisers to be embedded.

But, you should promote affiliate products related to the interests of your target audience:

Watch >> Membership websites 101: Everything you need to know in order to begin your own

In the end, there are many methods to be successful in the economy of the creator. If you have valuable content to share and an engaged audience, you can rapidly generate revenue and expand your business.

Conclusion

If you've learned more about the creation economy, you'll probably realize its impact on digital marketing and e-commerce.

A lot of consumers are opting for independent producers instead of big companies to provide product suggestions or even entertainment. If you are able to think of a creative way and put in the effort it is possible to be a part of this growing movement.

In order to be a part of the economy of creators, simply follow these steps:

  1. Discover the right niche
  2. Create Content
  3. Build an audience
  4. Monetize your content

Do you have any questions regarding the creation economy? Let us know in the comments section below!

 If you liked this post, make sure to join our email list by clicking the button to your right!