SOCIAL

How the Producer Economy Is Changing Influencer Marketing

Published

2 years ago

March 15, 2022

How the Producer Economy Is Changing Influencer Marketing

Influencer marketing is evolving into what’s being called “the producer economy” consisting of content creators who seek to build their own media brands that are independent of social media platforms. This push for greater control over distribution also affects brands as they build their own media networks to engage consumers.

“The digital landscape is so messy and it’s so hard to break through the noise,” said Jennifer Smith, CMO of online video platform Brightcove. “The challenge for marketing is to think about two things: how to create content for that space, and then how do you distribute that content back to the right people?”

By taking full ownership of what they create, producers and brands can work on distributing long-form content resembling TV channels and shows. They can deliver higher-quality content that builds on subject matter expertise over time and prolong the exposure to their own media brands, according to Brightcove. But while the approach offers flexibility and greater creator control, it isn’t without challenges. By ditching mainstream sites popular among consumers, creators and brands are gambling with the Wild West of independent platforms and may risk audiences passing them up for content already available on their preferred social apps.

Greater ownership

This next stage in the transformation of influencer marketing follows significant growth of content creators over the past few years. Brands’ global spending on influencers was estimated to more than double from $6.5 billion in 2019 to $13.8 billion last year, according to data compiled by Statista. Amid this industry boom, content creators often face difficulties in determining their value in negotiating brand partnerships, especially as social media platforms can collect as much as 45% of creators’ ad revenue, according to data provided by Brightcove. Creators and brands with their own channels on social platforms or video-sharing sites are at the mercy of recommendation algorithms that don’t ensure organic reach. Their content can get lost amid the vast amounts of clutter, diminishing the return on investment.

“You can spend a lot of time creating all this very expensive, great content,” Smith said. “You put it up on YouTube and your competitors are advertising against it, and it’s the same with all these social media channels.”

Faced with the clutter of videos across various websites, Smith said Brightcove customers are looking for greater ownership over content so they can wield greater control over video production and channel management.

“They’re saying, ‘how do I create a channel that keeps my audiences engaged, [but] not a website because they’re hard to navigate?'”

Developing creator partnerships

As the creator economy is poised to evolve into a producer economy consisting of influencers and brands owning and managing their own media channels, their relationships are also likely to change. Marketers that are negotiating partnerships must not only consider their needs, but also the needs of the content creator, influencer or other potential brand partners, according to Brightcove.

“Marketers are thinking about this whether they’re selling financial services or a piece of technology or a children’s game,” Smith said. “They’re saying, ‘how do we actually create content in a compelling way, and how do we put that count out in channels that we own?'”

There’s more opportunity for flexibility among brands that build in-house content production teams, including how they negotiate influencer relationships. Whether they collaborate for a single campaign or for a longer-term marketing partnership, brands and influencers will need metrics to evaluate outcomes and inform future efforts.

“Between the one-off engagement and more of a longer-term contract, the challenge comes in understanding the return that it’s getting you,” Smith said. “Marketers are still behind when it comes to the analytics of understanding what it’s delivering for us.”

Authenticity and brand safety

The proliferation of user-generated content (UGC) on video-sharing and social media apps has led to greater public acceptance of online personalities who come across as more authentic and relatable. UGC makes up 39% of the weekly media hours for U.S. consumers, compared with 61% for traditional content, according to a Consumer Technology Association survey. Among teenagers, the time spent with UGC is close to overtaking traditional TV, the study found. However, that swelling popularity comes with brand safety concerns for advertisers whose marketing messages appear next to it or embedded within it.

“The producer economy is creating new opportunities for marketers as they step up and become producers themselves,” Smith said. “Now that they are unleashed from the constraints of other publishers and even social sites, it gives marketers more control over their content.”

Those controls include video with a clearer message and brand tie-in, along with data and analytics that offer a more transparent view of audiences. With videos posted on social media or other platforms, the information is aggregated and more anonymized, limiting the insights marketers can glean.

While brands can alleviate some issues through controlling their own media channel — whether it’s a connected TV (CTV) app or other method of distributing video — they no longer have the ability to outsource production, content management or influencer recruiting, forcing them to become jacks-of-all-trades. Building that in-house expertise on a range of tasks can take significant time, money and experimentation.

It’s a delicate balance between producing content that conveys a desired message and doing so in a way that gels with the less-polished style of content that’s currently in vogue. Brands and creators that experiment in this space early on and navigate hiccups may help to steer the influencer marketing industry at large.

“I’m challenging people to think outside of the box when it comes to creating their own owned and operated channels,” Smith said. “The long-term will pay off dividends.”

Source link

Related Topics:Changing economy Influencer Marketing producer

Up Next

Ukraine memes proliferate despite grim realities of war

Don't Miss

Elon Musk challenges Putin to fight, with Ukraine as the prize

Click to comment

You must be logged in to post a comment Login

SOCIAL

12 Proven Methods to Make Money Blogging in 2024

Published

4 months ago

May 14, 2024

Entireweb News Bot

This is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

Identify audience needs: Develop products that address the specific needs and desires of your target audience.
High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos

Source link

SOCIAL

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

6 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

SOCIAL

Catering to specific audience boosts your business, says accountant turned coach

Published

6 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

Source link