The internet has made it so that anyone and their dog can post content and (potentially) get paid for it. And today, the global influencer community is bringing in an estimated $13.8 billion, with no signs of slowing down anytime soon.
Here’s what to know about the creator economy (and why it matters to marketers):
How Does the Creator Economy Work?
The term “creator economy” refers to two separate entities: the independent creators who make and monetize content (think social media posts, videos, and online communities), and the various apps, tools and software platforms that support them.
Creators can make money in lots of ways, including brand partnerships, revenue from ads and views, sponsorships and affiliate links. And if you’re a marketer, you should be able to find creators who want to work with you — and who can give you access to their tuned-in audience.
Capitalizing on Creator Economy Trends
Many marketing strategies incorporate industry trends. Here are two that stand out when you’re looking at the rapidly evolving creator economy.
1. Social commerce. A creator-led ad may seem more authentic to viewers, but it’s an ad all the same. If you’re the one paying for it, make sure you get your money’s worth by including coupon codes, affiliate codes, or other incentives so that there’s a true CTA for your brand.
2. Personalization. Independent creators allow you to target your audience in hyper-specific ways. Work with creators who don’t just reach the right audience but who embody it, and diversify your influencer pool if needed to touch on all your various target groups.
