What Influencers Can Do To Help The Creator Economy (and what this means for you) --

The world witnessed major shifts the world during the past year due to the worldwide pandemic. One of the most significant changes that did not have anything to do with do with the health or political realms was in the Creator Economy. The most significant beneficiaries of that change were influencers, YouTubers and content creators, people who are business-minded and independent who do what they enjoy while actually making money.

They didn't emerge out of nowhere-nor are they moving anywhere, but the methods by which they continue to affect the Creator Economy and contribute to its growth are becoming easier to access as never before. As such, knowing what the Creator Economy is and the best way 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 is the Creator Economy actually is.

In the beginning, first, the Creator Economy isn't brand new. The platforms that drive the Creator Economy, such as YouTube, Instagram, and Spotify exist since the mid 2000s.

Since content creators who were on those platforms began to garner more attention and earn a significant amount of trust from their fans Brands began to see they could rely on the creators of these platforms to influence their fan bases via covert advertising. This resulted in the growth of sponsored content (both authentic and fake) and influencer agency which was the basis of the influencer marketing phenomenon which we have in the present.

However, as SignalFire is able to thoroughly explore in their history and condition of the Creator Economy There are several reasons why the Creator Economy has had to evolve from what was considered "influencer marketing" to what it has become. These are the reasons:

• Content creators have realized that the platforms may not always have the best interest with them, but shifts in how users behave can dramatically determine whether or not certain platforms remain profitable.
• The methods that platforms use to decide how and why creators can monetize their content is often not clear, resulting in creators being required to negotiate agreements directly with sponsors so that they can make profits from their content.
• It is estimated that there are 50 million individual creators monetizing their content on a regular every day.
• According to the Influencer Marketing Hub in May 2021 "it's certain that"the Creator Economy boom has hit its full potential in 2021. the approximate $104.2B market size"

Because of the rapid growth of creators and the record-setting quantity of funds being put into the possibility of monetizing by being a creator, the Creator Economy landscape has become more intricate than ever.

Are You a YouTuber? Influencer? Creator?

While these terms may seem like they are mutually exclusive - and were mutually exclusive during a period of time, in reality, the current situation of the Creator Economy allows creators of content to be the three, and to monetize their work the way that no one could have had ever imagined back in the 2000s.

Although brand agreements and sponsored posts are still thought to be the main source of income for content creators, there are myriad different ways to earn money from your existing content. Many social media platforms offer creator funds and programs that pay creators, and provide opportunities for creators to collaborate directly with companies that are appropriate to their audiences and content.

Like we said earlier, however the creators have generally abandoned being limited to a specific platform so that they don't have to worry about things like demonetization, platform fatigue or being subject to the whims of brands who are paying them to produce content.

The Need for Content

Did you consider it is the case that YouTube isthe second most visited website worldwide and is the only social network which is used consistently in all demographics? In addition, according to MediaKix, how-to/tutorial style videos are among the three most popular video types on YouTube.

The demand for content which entertains and instructs is on the rise and is likely to continue to expand because Gen Z looks to platforms like YouTube, TikTok, and Instagram to find creators who assist them in becoming more knowledgeable about a range of subjects. The result is that advertising revenue will continue to grow for each of these platforms - and likely some others as well - offering content creators the possibility to earn more from platforms and start to earn money from the content they already create.

Content Creators Are Creating their own businesses

We've mentioned earlier the content creators must think of themselves as legitimate companies in the Creator Economy. It offers the "opportunity to create something entirely from scratch at your own pace ( Inc.com)."

If you're considering making a career of a content creator full-time, that leap into the unknown can be a bit scary. There are plenty of data available that may make you reconsider taking the risk. As we've witnessed in the growth of the Creator Economy There are many ways for you to cleverly and effectively begin to make money from your work to make a livable wage sooner.

Methods to Earn Money as Content Creator

Creators are finding new ways to take control of their own businesses, and to earn maximum income possible through their work.

If you are a creator of content, you still need to build your following on social media platforms like YouTube, Instagram, and TikTok and utilizing a multi-channel approach to maximize the reach and impact of your content. But, today there are a number of ways that creators can increase their earnings.

It is the result of creators who are independent making money from their work through a variety of platforms and channels. This includes personal sites ebooks, books, premium content from sites such as OnlyFans as well as merchandise and even courses that fans are able to gain access to through subscriptions or memberships.

The top options for this are:

• Platforms for subscription like Patreon let creators cost for exclusive content with a sliding-scale. However, these platforms, take a cut of monthly income in order to use the platform.
• If you're interested in monetizing opinion and content such as NewNew, applications such as NewNew let users make a payment to cast their votes on whatever you ask to vote on. It also accepts a commission.
• Marketplaces for selling products like Moteefe permit creators to create and sell their own merchandise through social media platforms in a need-to-buy basis which means you do not have to order stock prior to.

If you're constantly providing your audience with educational content that they can benefit from on an ongoing basis, you're in ideal position to develop courses and request your viewers to pay to gain access. Although there are large platforms out there with a large number of authors, there are some drawbacks to using them.

In the first place, these websites are flooded with creators. There's simply nothing to encourage users to check out your video. That means if you're in the highly competitive field of video content it's possible that you'll receive only a small portion of viewers from college students.

A second reason is that some course-creation platforms may charge as much as $400 per month when you have a robust collection of content and courses.

Make yourself the successful entrepreneur you want to Be

Once you've got the information and skills you'll need to earn money with your content Here are some things you may need to make sure you succeed.

Download our creator business canvas template and create your own path to financial sustainability with the right content.