How Influencers are Now The Creator Economy (and the implications to you) (and what you can do to help)

The world witnessed major shifts all over the globe in the past times due to the global pandemic. One of the largest shifts that didn't have to do with the health or political realms was in the Creator Economy. One of the biggest beneficiaries from this shift were influencers, YouTubers and content creators, all independent business-minded individuals who do what they enjoy while actually making money.

These individuals did not come out of thin air-and they're certainly not going anywhere-but the ways in the ways they impact those who are part of the Creator Economy and aid in the growth of it are easier to access more than ever. Therefore, understanding the Creator Economy is and how to begin gaining benefits by it as an independently-owned business are crucial to monetizing your own content.

What Is the Creator Economy?

Let's look at what the Creator Economy is.

First, it's important to note that the Creator Economy isn't a new concept. The platforms that drive the Creator Economy, for example, YouTube, Instagram, and Spotify exist since the mid 2000s.

As content creators on those platforms gained traction and earn a significant amount of trust from their fans Brands began to see that they could lean on these creators to influence their fans via covert advertising. This has led to the rise of paid content (both authentic and fake) and influencer agency - really, the foundation of the phenomenon known as influencer marketing that we see now.

As SignalFire analyzes with great depth the the history and current situation of Creator Economy it is possible to identify several reasons why the Creator Economy was forced to evolve from what was thought of as "influencer marketing" to the state it is now. These are the reasons:

• Content creators have realized that the platforms may not always have the best interest with them, but shifts in user behavior can greatly determine whether or not certain platforms continue to be financially viable.
• The methods that platforms use to determine how and why creators monetize content are often undefined, which leads to creators being required to negotiate agreements directly with sponsors to make profits from their content.
• Up to 50 million individual creators monetizing their works on a regular basis.
• According to Influencer Marketing Hub at the time of its launch in May 2021 "it's possible to conclude that the Creator Economy boom will be hitting its full potential in 2021. an estimate of $104.2B market size"

As a result of the sheer number of creators as well as the record-breaking quantity of funds being put in the ability to monetize being a creator Creator Economy landscape has become more complex than ever before.

Are You a YouTuber? Influencer? Creator?

While these terms may seem mutually exclusive of each other and even were for a time - actually, the present state of the Creator Economy has allowed content creators to become all three and make money with a way no one had ever could have imagined in the early 2000s.

However, while brand-related deals and sponsored content are considered the primary source of revenue for content creators, there are myriad alternatives to make money from the content you're already creating. Different social media platforms have creator funds and programs to compensate creators as well as provide opportunities for creators to directly work with brands that work for their content and audiences.

Like we said earlier, however creatives have mostly moved away from being platform-specific to avoid having to fret about demonetization, platform fatigue or being at the mercy of companies that pay them to create media.

The Demand for Content

Did you realize it is the case that YouTube isthe second most popular website worldwide and is the only social media platform which is used consistently for all age groups? 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 educates is growing and will likely continue to increase because Gen Z looks to platforms like YouTube, TikTok, and Instagram to discover creators that help them become more knowledgeable about various topics. This means that ad revenue will continue to grow on these platforms, and possibly some others as well - giving content creators the opportunity to both increase their incomes from platforms and start to generate revenue from their content already created.

Content Creators are launching their own businesses

We've mentioned earlier, content creators should really consider themselves legitimate businesses within the Creator Economy. They have the "opportunity to build something, entirely from scratch at your own pace ( Inc.com)."

If you're considering making a career of a content creator full-time and taking the leap into unknown territory can be scary. There are plenty of statistics out there that could dissuade you from taking the risk. But, as we've learned through the development of the Creator Economy There are many ways that you can cleverly and effectively begin to make money from your content so you can earn a decent income sooner.

Ways to Monetize Your Reach as a Content Creator

Creators are finding many ways to take control of their own businesses, and to earn maximum income possible from their content.

Being a content creator it is still necessary to create an audience using social media sites like YouTube, Instagram, and TikTok, while utilizing multiple channels to increase the reach and impact of your content. But, today there are numerous ways creators can make more money.

The latter is independent creators making money from their work through a variety of platforms and channels. This includes personal sites, books, premium content from sites such as OnlyFans as well as merchandise as well as courses for fans to access through memberships and subscriptions.

Some of the most effective platforms for doing this are:

• Platforms for subscription like Patreon let creators charge for exclusive content in a sliding scale. However, these platforms charge a portion of monthly income in order to use the platform.
• If you're looking to make money from opinion and content applications such as NewNew permit users to make a payment to cast their votes on whatever you ask to vote on. This app does also take commissions.
• Merchandising platforms like Moteefe permit creators to create and sell their own merchandise through social media platforms on a need-to-have basis, that is, you don't have to order stock prior to.

If you're offering your readers educational content that they can benefit from on an ongoing basis, you're in ideal position to develop an educational course, and then ask your viewers to pay to gain access. There are big platforms which have a wide range of authors, there are certain disadvantages of using them.

The first is that some websites are flooded with creators. There's simply nothing to encourage users to check out your video. That means if you're in an extremely competitive category of content, you could receive only a small portion of viewers from college students.

A second reason is that some course-creation platforms will charge you up to $400 a month if there is a substantial selection of course and content.

Make yourself the successful entrepreneur you want to Be

If you're now equipped with the information and skills you'll need to earn money with your content Here are some factors you'll require to ensure your success.

Download our creator business canvas template to create your own economic sustainability by incorporating information.