Instagram and YouTube still top the charts as the most lucrative platforms for content creators, followed by Snapchat, TikTok, and Pinterest.
Over 200 million creators make up the creator economy. This includes independent content creators, curators, community builders, social media influencers, bloggers, and videographers. They are often operating as solo entrepreneurs or micro businesses and might even be taking this up as a second stream of income in addition to their main career. The most successful entrepreneurs in this thriving space optimize their workflow and leverage a set of tools that enable them to punch above their weight. Utilizing the right combination of tools is critical to growth and sustainability.
Take the “foodie” scene, for instance. Since 2019, food influencer marketing has been growing at a rate of 42%. Today, there are roughly 20,000 sole individuals trying to make a name for themselves within this category in the U.S. alone. While research shows that Instagram influencer marketing in the food industry incentivizes an engagement rate of 7.38% (and most social media marketing experts agree that a good engagement rate is between 1 and 5%.), not all 20,000 want-to-be top influencers are hitting those kinds of numbers.
But how do creators get their business off the ground? In other words, what is the successful business model behind content creation? In 2023, creators should use the following guidelines to set themselves up for success.
BE AUTHENTIC AND FIND YOUR NICHE
“Influencer” has become a dirty word, even by those directly in the field. And what it boils down to is there are too many content creators out there who are looking to build their audiences and get rich quick—but often at the price of their authenticity. Successful content creators draw from their own expertise, experience, and interests while being unapologetically themselves. Even so, that approach can still make it hard to stand out.
Read the complete Fast Company article BY JOE HYRKIN: https://www.fastcompany.com/90834751/finding-success-creator-economy