SOCIAL

Who Really Benefits from the Creator Economy?

Published

2 years ago

October 8, 2022

Who Really Benefits from the Creator Economy?

The Creator Economy has become a much bigger focus over the last few years, with the rise of TikTok sparking a new battle amongst the social platforms to maximize their creator appeal, in order to keep popular users posting to their apps.

Which makes sense. Vine, which many view as the precursor to TikTok, eventually died out because parent company Twitter couldn’t establish an effective revenue share model for short clips, a key challenge of the format. If TikTok can’t get creators paid, they won’t stick around, which both YouTube and Instagram see as an opportunity to mitigate TikTok’s growth.

Combine that with the increasing work from home push, which has seen more people reassessing how they make money, and indeed, whether they could possibly get paid for the content that they post online, and you can see how the platforms view this as a key opportunity to win over more creators, and keep them posting to their apps – while ideally, fending off rising competition.

It all connects up, and for social platforms battling for audience attention, it’s a perfect scenario for them to also lure the most entertaining users to post more often, in order to prop-up their engagement stats.

But there’s one core, essential truth of the creator economy that undercuts the emphasis and enthusiasm in the space: Most people are simply not good enough at being entertaining, on a consistent basis, to make any real money out of being an online creator.

The stats tell the tale – according to a recent survey conducted by influencer marketing platform Aspire, which incorporates feedback from over 1,700 creators, only 4.3% of them are earning six figures or more per year from their online posts.

Which, really, makes sense. Sure, there are the Mr. Beasts of the world – who recently turned down a billion dollar offer for his YouTube channel. But off the top of your head, how many top online creators can you actually name?

PewDiePie, Dream, the DÁmelio sisters. You likely have your own, more niche favorites as well, but I’m guessing that list starts to thin out pretty quick.

One consideration here is that there’s a limit to how much content we can take in. That means that while some of the top stars are seeing millions of views, and occupying hours and hours of people’s time, that also then further reduces the amount of time left for other creators – which means that, realistically, there’s not enough capacity to support an infinite number of creators in an infinite number of niches.

But the real truth is that being a successful creator is hard.

Not only do you have to be entertaining – which very, very few people are good at every single time they post – but you also need to keep churning out new content every other day. The pressure on creators, in this sense, is very real, and it can lead to significant mental and even physical health impacts for those working to keep up with demand, and keep themselves top of mind for their respective audiences.

But you have to keep posting. Stop uploading your content and people will lose interest, and all that work that you’ve put into building your presence will evaporate very fast.

You have to keep coming up with ideas, and you’ve no doubt seen for yourself how that pressure leads to some of your once favorite creators eventually losing their touch, as they scrape the bottom of the barrel again and again, desperately seeking new inspiration for their content.

The truth is that most people suck at making content, the vast majority of us can’t create great, resonant entertainment every time, over and over again. Some of the more established creators, with bigger audiences, can get away with this, but for most, a run of bad or boring content will see a big chunk of their audience unfollow, losing them all of that attention.

There’s a reason why you see the same movie stars in the top movies over and over again, there’s a reason why you see the same hosts on every other live event on TV. Because being an entertainer is not easy – it takes skill, it takes natural ability combined with a honed focus on what works, and an innate sense of your audience and what they want to see.

Most people just don’t have that, and won’t ever get it, no matter how hard they try.

Creating a trending clip is one thing, but repeating that success is near impossible, and for most, being a one-hit wonder online is the best they’ll ever achieve.

For all the hopes of social platforms that they can get people posting more and more stuff to their apps, helping to boost their all-important engagement levels, so that they can sell more ads, for all the tales that they may want to sell about how creators can make real money online, via their platforms, the truth is, they probably can’t, in general terms.

Most people are not going to see success as online content creators, but the platforms know that the next generation, who’ve grown up with these web-originated stars as their aspirational heroes, are also increasingly hoping that they’ll be the one to make it, and break through the popularity barrier. And they’re cashing in on this, in order to juice their performance stats.

That’s not to say that people should give up. If you’re passionate about a topic, and you create good content, then you should pursue that passion, within reason, and see if you can succeed. ‘Reason’ in this context is relative to your personal situation – but absolutely, exploring what makes you happy, and connecting with like-minded people, can indeed produce results, and career satisfaction.

There’s also the expanded concept of monetization in Web3, and how potential new paradigms for online connection will facilitate more ways for users to take a share of any money generated from their online activity, as opposed to big businesses gleaning the vast majority of benefit from such.

There are potential opportunities within this, but the concept of the Creator Economy being a pathway to monetary success is simply not realistic for the vast majority of people.

As such, it’s less a creator ‘economy’ as it is a ‘creator fantasy’, and it’s the big players that are benefiting from promoting that, and projecting the idea that you too can become a billionaire just by posting online.

You can’t, and it’s safe to say that nobody reading this is ever going to make even $100k from posting videos online.

The fundamental flaw within the Creator Economy push is that it’s not an equal playing field, it’s not a democratically distributed opportunity, and in the majority, nobody’s really making any money. Except the big tech platforms, which are benefitting from the flood of hopefuls posting to their apps.

And eventually, what’s going to happen is that the field will thin, the brand deals will go to fewer and fewer people, and the focus will switch from broad-reaching approaches in influencer marketing, to curated, managed talent pools of the top stars.

Like it always has, via talent agencies, casting directors, publishers, etc. While the internet opens up new opportunities, time and time again, such potential has also, eventually, highlighted why the system had become the way it was before we sought to reform it.

Because it’s more efficient, it’s more effective, and while you want every single person to be able to go and start posting about that thing they really love, and get paid for doing so, it’s highly unlikely they’ll make it on their own.

But talent agencies could recognize their potential and mentor them, or guide them through to the next stage. Other advisors could see a means to connect these users with brand opportunities.

Which is where the real money will be, in the formation of intermediaries that can spot and manage talent to help maximize their potential, while also acting as a conduit to brand deals.

Maybe, that could be you. But a heap has to go right, even in that scenario.

Essentially, the Creator Economy, as it’s currently being presented, is a farce, and slowly, creators, brands and platforms are starting to realize this. YouTube, Meta, TikTok – all the platforms, of course, want to keep adding tools that will get you paid, as a means to keep you posting. But for the most part, these small payments are just carrots designed to lure you along, as you keep delivering more engagement.

Source link

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

7 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