Why Influencers Are Now In The Economy of Creators (and what it means for you) (and what you can do to help)

There were significant changes in the world over the last times due to the global pandemic. One of the biggest changes that did not have anything to do with do with the medical or political fields included the Creator Economy. The most significant beneficiaries of that shift were YouTubers, influencers as well as content creators - all independent business-minded individuals working at what they love and actually making money.

They didn't emerge out of nowhere-nor are they moving anywhere, but the methods by the ways they impact their impact on the Creator Economy and help contribute to the growth of it are easier to access more than ever. Therefore, understanding what the Creator Economy is and the best way to begin gaining benefits by it as an independently-owned company is essential to making money from the content you create.

What is the Creator Economy?

Let's look at what we can learn about the Creator Economy actually is.

First, it's important to note that the Creator Economy isn't brand new. The platforms that drive the creation economy for example, YouTube, Instagram, and Spotify have been around since the late 2000s.

As content creators on those platforms began to garner more attention and earn a significant amount of trust from their fans The brands began to recognize they could rely on these creators to influence their fan bases via covert advertising. This led to the rise of sponsored content (both authentic and fake) and influencer agencies and influencer marketing - the core of the influencer marketing phenomenon that we see now.

As SignalFire analyzes with great depth in their history and situation of the Creator Economy it is possible to identify some reasons that the Creator Economy was forced to evolve from what was thought of as "influencer marketing" to the state it has become. These are the reasons:

• Content creators have realized that the platforms may not have their own best interests with them, but shifts in user behavior can greatly affect whether certain platforms will be profitable.
• The manner in which platforms decide how and why creators can monetize their content is often not clear, resulting in the creators needing to negotiate deals directly with sponsors to make money from their work.
• There are up to 50 million individuals who are monetizing their work on a daily every day.
• According to Influencer Marketing Hub in May 2021 "it's certain that"the Creator Economy boom is at its full potential in 2021. the estimate of $104.2B marketplace size"

Because of the sheer number of creators and the record-setting quantity of funds being put into the possibility of monetizing by being a creator, the Creator Economy is more intricate than ever.

Are You a YouTuber? Influencer? Creator?

While these terms may seem like they are mutually exclusive they were not mutually exclusive for a time - in reality, the current state of the Creator Economy has enabled the creators of content to go all three and make money the way that no one could have dreamed of in the late 2000s.

However, while brand-related deals and sponsored content are being viewed as the most important source of revenue in the world of content creation, you can find many alternatives to make money from your existing content. Many social media platforms offer program and funds for creators that pay creators, and offer ways for them to directly work with brands that work for their content and audiences.

In the past, as mentioned creatives have mostly gone away from having a platform-specific approach to avoid having to be concerned about issues like demonetization, platform fatigue or being at the mercy of brands who provide them with content.

The demand for content

Did you consider the fact that YouTube isthe second most visited website around the globe and the sole social media platform that has consistent use for all demographics? Furthermore, according to MediaKix, how-to/tutorial style videos make up three of the most popular types of videos on YouTube.

Demand for content which entertains and informs is increasing and will likely continue to grow because Gen Z looks to platforms such as YouTube, TikTok, and Instagram for creators to assist them in becoming more informed about a range of subjects. The result is that advertising revenue will continue to grow on these platforms and will likely other ones in the near future, providing content creators with the chance to increase the amount of income they earn via these platforms as well as earn money from their content already created.

Content Creators Are Starting Business of Their Own

As we alluded to earlier, content creators should really think of themselves as legitimate companies within the Creator Economy. This gives them an "opportunity to develop something from scratch, for yourself at your own pace ( Inc.com)."

If you're considering taking on the role of full-time creator of content taking that plunge into unknown territory can be a bit scary. There are a number of facts available to discourage you from taking that risk. As we've witnessed through the development of the Creator Economy it is possible that you can cleverly and effectively begin to make money from your content so you can earn a decent income sooner.

Strategies to monetize your reach as Content Creator

Creators are now finding many ways to take control of their business and make the most possible income through their work.

Being a content creator it is still necessary to create your following on social media sites like YouTube, Instagram, and TikTok and utilizing the multi-channel strategy to enhance your influence and reach. There are numerous ways creators can maximize their incomes.

It is the result of creators who are independent who are monetizing their content through multiple channels and platforms, such as personal websites ebooks, books, premium content from sites such as OnlyFans products, merchandise as well as courses for fans to access through memberships and subscriptions.

The top options for this are:

• Subscription platforms like Patreon allow creators to offer exclusive content for sale with a sliding-scale. These platforms do, however charge a portion of monthly income in order to be able to access the platform.
• If you're thinking of monetizing opinion and content applications like NewNew allow fans to be paid to vote on any topic they want to be able to vote on. It also accepts an amount of commission.
• Marketplaces for selling products such as Moteefe permit creators to create and sell custom merchandise on social media according to a "need-to-have" basis that is, you don't have to buy stock ahead of time.

If you're providing your audience with educational content that they can enjoy on an ongoing basis, you're in a great position to create a course and ask your audience to pay for access. Although there are big platforms that feature a lot of creators, there are several disadvantages when using these platforms.

In the first place, these platforms are saturated with other creators, and so there's nothing to encourage users to watch your videos. If you're part of the highly competitive field of video content there's a chance that you'll get a very small share of viewing from students.

Then, certain course creation platforms may charge as much as $400 a month if you've got a large collection of content and courses.

Become the Entrepreneur You Want to be

If you're now equipped with the information and skills you need to start earning money with your content, there are a few things you may need to ensure your success.

Get our business-focused creator template to build your own plan for sustainable financial viability with the help of the right content.