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

Periods of heightened uncertainty are challenging for any business to navigate, but the times of uncertainty are when reliable and stable partners demonstrate their worth. For creators and independent publishing, it'll become ever more clear in the years ahead which platforms and tools will be the most effective in ensuring their long-term success, and which might make their business vulnerable places.

The global economic outlook appears to be becoming more uncertain, and business owners should be prepared to encounter challenges when the year continues to take shape. The budgets of consumers are decreasing - because of the runaway rise in inflation and the aftermath of conflicts in Europe and elsewhere - and revenue challenges are almost inevitable for the majority of firms.

The great news for companies that are making money from their membership model is that, while subscription revenue is not in any way immune to the impacts of economic fluctuations but it's usually more secure in comparison to the revenues generated by different channels like advertising, sponsorships, or commerce. This is assuming, however, that creators have selected trustworthy technology partners who have stable and sustainable business models of their own which can position them to navigate tricky circumstances effectively.

Like I've previously argued, any creator or independent publisher who wants to create a long-term sustainable membership or subscription business needs to take care when choosing monetization and technology tools. A tendency towards the "cheapest" option is understandable, but creators and publishers I work with are often trying to move to other platforms and tools due to their current partners having failed to meet their expectations or failed to give them ample space for growth in terms of functionality and features they offer, or provided poor support and advice.

These frustrations become even more pronounced during difficult economic periods. When the demands of audiences as well as market and economic variables change rapidly all around them, the very last item creators have to think about is monetization tools that are preventing them from achieving. Poor technology, lost opportunities to earn revenue and the operational rigors are annoying even in good times However, during times of instability their impact could quickly escalate to the point that they create significant risk for business owners who are creators.

It's more crucial than ever to ensure that the creator partners have built solid and long-lasting businesses of their own, and will not leave their customers in the lurch whenever they're forced to shift their focus or attention to chase revenue or different possibilities.

My advice to any creator company that is worried about the current economy is to stay basic and concentrate on the essentials. Specifically:

  • Deliver high-value, differentiated content on a consistent basis.
  • Create a smooth product and user experience , which makes paying for and accessing this content as effortless as is possible.

In terms of the technology behind monetization and other tools I'd advise makers to examine potential partners with greater care than ever to ensure they have an understanding of their philosophies and strategies that are backed by proven product and track records, and are committed to subscription and membership models for long term.

Creators who continue to satisfy the demands and requirements of subscribers and viewers and who have the technology and tools in place that allow them to do so they should be in situation to not only navigate challenging economic climates effectively but also emerge from the other side of them with a strong position.