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

The world witnessed major shifts the world over the last times due to the global pandemic. One of the largest shifts that had nothing to do with the health or political realms was in the Creator Economy. The most significant beneficiaries of that shift were influencers, YouTubers as well as content creators - anyone who is a business owner and doing what they love while realizing a profit.

These individuals did not come out of nowhere-nor are they moving anywhere, but the methods by that they influence the Creator Economy and contribute to its growth are becoming more readily available than ever. As such, knowing what the Creator Economy is, and knowing how to begin gaining benefits from it as an independent business is crucial for monetizing your own content.

What Is the Creator Economy?

Let's take a look at what is the Creator Economy is.

First, the Creator Economy isn't brand new. Platforms that are driving the Creator Economy, like YouTube, Instagram, and Spotify have been around since the mid 2000s.

When content creators on these platforms gained traction and earn a significant amount of trust from their fans Brands began to see that they had the potential to rely on the creators of these platforms to influence their fans via covert advertising. This has led to the rise of sponsored content (both real and fake) as well as influencer marketing agencies which was the basis of the phenomenon known as influencer marketing which we have in the present.

But, as SignalFire analyzes with great depth in their history and condition of the Creator Economy it is possible to identify a few reasons the Creator Economy has had to evolve from what was called "influencer marketing" to the state it is now. Those reasons are:

• Content creators have realized that platforms do not always have the best interest in mind but changes in how users behave can dramatically affect whether certain platforms will be profitable.
• The methods that platforms use to decide how and why creators monetize content are often undefined, which leads to the creators needing to negotiate deals directly with sponsors to make money from their work.
• It is estimated that there are 50 million creators who monetize their works on a regular every day.
• According to the Influencer Marketing Hub, as of May 2021 "it's safe to say this: the Creator Economy boom will be hitting its full potential in 2021. an approximate $104.2B marketplace size"

Due to the sheer number of creators as well as the record-breaking quantity of funds being put in the potential to earn money being a creator Creator Economy environment has grown more complicated than it ever was.

Are You a YouTuber? Influencer? Creator?

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

However, while brand-related deals and sponsored posts are still being viewed as the most important source of income in the world of content creation, you can find myriad alternatives to make money from your content that you've already created. Different social media platforms have Creator Funds and Programs that pay creators, and offer ways for them to collaborate directly with companies that are appropriate to their audiences and content.

In the past, as mentioned the creators have generally abandoned being limited to a specific platform to avoid having to fret about platform fatigue, demonetization, or being in the hands of the brands that are paying them to produce content.

The Demand for Content

Did you know the fact that YouTube isthe second most visited website worldwide and is the only social network which is used consistently in all age groups? Additionally, according to MediaKix, how-to/tutorial style videos are among the three most popular video types on YouTube.

Content that entertains as well as 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 educated on a variety of topics. The result is that advertising revenue will increase on each of these platforms - and likely some others as well - providing content creators with the chance to increase the amount of income they earn via these platforms as well as earn money from their content already created.

Content Creators Are Starting Business of Their Own

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

If you're thinking of taking on the role of full-time creator of content taking that plunge into the unknown can be a bit scary. There are plenty of statistics out there that could dissuade you from taking the risk. However, as we've seen in the growth of the Creator Economy it is possible that you can cleverly and quickly begin to profit from your content to earn a decent income sooner.

Methods to Earn Money as a Content Creator

Creators are finding new ways to control their businesses and earn the highest possible amount of money from their content.

Being a content creator you still need to build an audience through social media platforms such as YouTube, Instagram, and TikTok and utilizing multiple channels to increase your influence and reach. There are many ways creators can maximize their incomes.

The latter is independent creators making money from their work through a variety of channels and platforms, such as personal sites, books, premium content on sites like OnlyFans products, merchandise and even courses that fans are able to gain access to through subscriptions or memberships.

The top platforms for doing this are:

• Subscription-based platforms such as Patreon allow creators to cost for exclusive content on a sliding scale. However, these platforms charge a portion of their monthly revenue in order to make use of the service.
• If you're interested in monetizing opinion and content applications like NewNew let users pay to vote on anything they want to be able to vote on. It also accepts an amount of commission.
• Marketplaces for selling products like Moteefe let creators design 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 consistently offering your readers educational content that they can benefit from on an ongoing basis, you're in great position to create an educational course, and then ask your audience to pay for access. Although there are large platforms out there with a large number of authors, there are several disadvantages when using these platforms.

In the first place, these platforms are overrun by other creators. There's simply nothing to encourage users to view your content. That means if you're in the highly competitive field of video content there's a chance that you'll get just a tiny portion of viewers from college students.

Then, certain course creation platforms may charge as much as 400 dollars per month, if there is a substantial collection of content and courses.

Become the Entrepreneur You Want to be

Once you've got the skills and knowledge that you require to begin earning money with your content There are some factors you'll require to ensure your success.

Get our business-focused creator template to build your own plan for financial sustainability with content.