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

There were significant changes in all over the globe in the past years due to the global epidemic. One of the biggest shifts that didn't have to do with the medical or political fields was in the Creator Economy. The most significant beneficiaries of that shift were influencers, YouTubers, and content creators - all independent business-minded individuals who do what they enjoy while realizing a profit.

Those individuals didn't come from nowhere, and they're not going anywhere-but the ways in the ways they impact those who are part of the Creator Economy and help contribute to its growth are becoming more accessible more than ever. Knowing what is the Creator Economy is and how to start benefiting from it as an independent business is crucial for monetizing your content.

What is the Creator Economy?

Let's examine what the Creator Economy is.

The first is that first, the Creator Economy isn't a new concept. Platforms driving 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 reach incredibly loyal audiences Brands began to see they could rely on these creators to influence their followers via covert advertising. This led to the rise of paid content (both authentic as well as fake) as well as influencer marketing agencies which was the basis of the influencer marketing phenomenon that we see now.

But, as SignalFire analyzes with great depth in their history and condition of the Creator Economy, there are some reasons that the Creator Economy has had to change from what was thought of as "influencer marketing" to the state it is today. These are the reasons:

• Content creators have understood that not only do platforms not always have the best interest in mind but changes in the behavior of users can significantly affect whether certain platforms will remain profitable.
• The ways in which platforms determine how and why creators monetize content are often unclear, leading to the creators needing to negotiate deals directly with sponsors to make money from their work.
• There are up to 50 million creators who monetize their work on a daily on a regular.
• According to the Influencer Marketing Hub in May 20, 2021 "it's certain that"the Creator Economy boom is at its full potential in 2021. the estimate of $104.2B Market size"

Because of the rapid growth of creators, and the record-setting quantity of funds being put in the ability to monetize by being a creator, the Creator Economy environment has grown more intricate than ever.

Are You a YouTuber? Influencer? Creator?

While these terms may seem like they are mutually exclusive and even were at one point - in reality, the current situation of the Creator Economy allows creators of content to be all three and monetize with a way no one had ever could have imagined in the early 2000s.

However, while brand-related deals and sponsored content are being viewed as the most important source of income in the world of content creation, you can find many other ways to monetize your content that you've already created. Different social media platforms have Creator Funds and Programs to pay creators and provide opportunities for creators to collaborate directly with companies that are appropriate to their audiences and content.

As mentioned earlier, though creatives have mostly moved away from being platform-specific so that they don't have to worry about things like platform fatigue, demonetization, or being subject to the whims of companies that provide them with media.

The Demand for Content

Did you know it is the case that YouTube isthe second-most visited site around the globe and the only social media platform which is used consistently across almost every demographic? Additionally, according to MediaKix the how-to or tutorial videos are among the three most popular types of videos on YouTube.

Content that both entertains and instructs is on the rise and will likely continue to increase because Gen Z looks to platforms such as YouTube, TikTok, and Instagram to discover creators that can help them become educated on a variety of topics. This means that ad revenue will increase on each of these platforms and will likely some others as well - giving content creators the opportunity to earn more through these platforms, and also earn money from the content they're already creating.

Content Creators Are Creating Their Own Businesses

We've mentioned earlier the content creators must consider themselves legitimate businesses in the Creator Economy. They have an "opportunity to develop something from scratch, for yourself at your own pace ( Inc.com)."

If you're considering becoming a full-time content creator taking that plunge into unknown territory can be a bit scary. There are many statistics out there that could dissuade you from taking the risk. But, as we've learned in the growth of the Creator Economy, there are ways for you to cleverly and quickly begin to profit from your work to earn a decent income sooner.

Strategies to monetize your reach as an Author

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

As a content creator, you must still build your following on social media platforms such as YouTube, Instagram, and TikTok, while utilizing the multi-channel strategy to enhance your reach and influence. But, today there are a number of ways that creators can make more money.

It is the result of creators who are independent monetizing their content via multiple platforms and channels. This includes personal sites ebooks, books, premium content from sites such as OnlyFans, merchandise, and even courses that fans are able to use to access their content through subscriptions and memberships.

A few of the best ways to do this include:

• Platforms for subscription like Patreon allow creators to cost for exclusive content on a sliding scale. The platforms, however require a percentage of their monthly revenue in order to use the service.
• If you're looking to make money from opinion and content such as NewNew, applications like NewNew let users be paid to vote on any topic you ask to vote on. The app also takes a commission.
• Marketplaces for selling products such as Moteefe permit creators to create and market custom-made merchandise on social media platforms according to a "need-to-have" basis that is, you don't have to buy stock ahead of time.

If you're constantly giving your viewers educational content that they can take advantage of on a regular basis, then you're in a ideal position to develop an educational course, and then ask your audience to pay for access. Although there are large platforms out there with a large number of creators, there are some drawbacks to using them.

First, some of these platforms are overrun by other creators and there's really nothing to encourage users to check out your video. That means if you're in a highly competitive content category there's a chance that you'll get just a tiny portion of viewing from students.

Then, certain course creation platforms may charge as much as 400 dollars per month, if you've got a large selection of course and content.

Be the Entrepreneur You Dream to Be

Once you've got the information and skills you'll need to earn money with your content, there are a few things you may need for success.

Get our business-focused creator template to create your own financial sustainability with the right content.