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Jul 18, 2022
Dependable creator partners show their value during periods of heightened uncertainty

Periods of heightened uncertainty are difficult for all businesses to navigate, but the times of uncertainty are when reliable and stable partners demonstrate their worth. for independent creators and publishers, it'll be increasingly clear in the months ahead which platforms and tools can best support the long-term growth of their businesses as well as which could put their companies in risky situations.

The outlook for global economic growth appears to be becoming more uncertain, and entrepreneurs should anticipate to encounter challenges when the year continues to unfold. Consumer budgets are shrinking - because of the runaway rise in inflation and the aftermath of conflicts within Europe and elsewhere - and revenue challenges are almost inevitable for the majority of firms.

One of the benefits for businesses monetizing audiences via membership models is that, while subscription revenue is not in any way immune to the impacts of broader economic conditions however, it's generally more protected from the commercial revenue that comes through different channels like advertising, sponsorships, or commerce. That's assuming, however, that creators have selected reliable technology partners with stable and sustainable businesses of their own that can position them to navigate tricky circumstances effectively.

In the past, I've made arguments, every independent or creative publisher who wants to create an ongoing subscription or membership-based business must be cautious when choosing monetization and technology tools. A tendency towards the "cheapest" solution is quite normal however, publishers and creators that I have worked with are usually looking to migrate to new platforms and software because their existing partners have either fallen short of expectations or failed to give them ample room to grow in terms of the features and functionality they offer, or provided lackluster support and guidance.

The frustrations are much more evident during challenging economy times. When the demands of audiences changes, economic variables and market factors shift quickly over time, the final factor creators need to think about is monetization tools hindering their growth. Poor technologies, missed revenue opportunities and operational headaches can be a nuisance in the most ideal of circumstances, but during periods that are unstable, their effects could quickly escalate until they pose a significant risk to entrepreneurs.

It's also more important now more than ever before that creator partners have created stable and sustainable business of their own and don't put customers in the lurch whenever they're forced to shift their attention or product focus to chase revenue or different possibilities.

The best advice I can give to any creator business concerned about a difficult economic time is to be simple and focus on the essentials. Specifically:

  • Deliver high-value, differentiated regular content.
  • Ensure a seamless product and user experience that lets you pay for and get access to this content as effortless as is possible.

When it comes to technology and monetization tools I'd advise developers to look at prospective partners more closely than they have in the past in order to determine if they've got clearly defined philosophies and perspectives, proven products and experience, and are committed to subscription and subscription models over the long haul.

Creators that continue to meet the demands and requirements of their subscribers and audiences - and have technologies and tools that empower the ability to do this they should be in position not only to be able to navigate the difficult economic environment and successfully, but also to come out on the other end from strong positions.