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The creator economy is an ecosystem where people make money from content. It’s a vital part of the global economy, worth an estimated $100 billion and includes content from bloggers, social media influencers, streamers and videographers.

If you are a business, now is the time to take advantage of this booming industry. Working with creators allows you to promote your services directly to your ideal client. Below, we’ve explained the Creator Economy and how you can use it for growth and profit.

What is the creator economy?

In the past, a company promoted its products or services with traditional media. This includes television, newspapers and radio. However, with the rise of new technologies, we have entered a new knowledge-based economy where people earn their living online.

It’s called the creator economy, a revolutionary system for people to create, share and earn money. People are no longer restricted in their career choices; online, you can monetize your passions and hobbies. Even better, this new economy is experiencing tremendous growth.

There are now over 50 million creators worldwide, and the number will continue to grow. In reality, almost a third of kids today say being a YouTuber is their dream job. We no longer live in a world of services and manufacturing. Moreover, it is not too late to join this new online ecosystem.

How does the creator economy work?

There are many ways content creators can make money. First, the creator builds an online audience. They then promote services, goods, and advertisements to their audience for a cost. One of the biggest ways creators make money is through brand deals and sponsorships.

Unlike traditional media, a creator has a highly targeted niche audience. So, as a business owner, you know you’re reaching the right people. Influencer marketing works because there is a high level of trust in content creators.

These creators are bloggers, YouTubers, Instagrammers, gamers, musicians and podcasters. There are creators in every creative outlet who target content to various demographics. For instance, TikTok Marketing is a must for brands with a Gen Z audience.

Age of subscribers, main content and number of full-time subscribers:

  • TikTok, 15-24, short videos, three million
  • YouTube, 25-44, long videos, one million
  • Instagram, 25-34, photographs, 500K
  • Twitch, 16-34, live stream, 300K

Creative economy for business

So how do you promote your business or brand within the creator economy? The first step is to define your target audience. You should start by creating a character breakdown of your ideal client or client, including their age, gender, hobbies, ethics, and location.

Next, you will need to research where your ideal client trolling online. You will find that there is a crossover on the platforms for the younger generations. Although Pinterest has the highest age range, between 50 and 64, YouTube has the highest age range.

Now that you know where your ideal customer is, it’s time to find influencers. One way to do this is to search for brands similar to yours and see who they have worked with before. You can also use hashtag searches and try influencer marketing tools.

Work with creators

When choosing a creator, you need to consider their audience size, engagement, niche, ethics, and budget. Remember that even though some creators have a small audience, they may have a very targeted niche audience that is a perfect fit for your business.

Many creators will have contact details on social media. Some will have emails specifically for branded deals, and popular influencers will have an agent. Send the creator a collaborative request with a summary of your company and why you want to work with them.

The cost of working with a creator will vary depending on the individual and, of course, the size of their audience. For reference, Influencer Marketing Center estimates that a mid-level Instagram influencer with 500,000 followers can charge up to $5,000 per sponsored post.

How companies can work with content creators:

  • Product Collaborations
  • Giveaways and contests
  • Social media takeovers
  • Discounts and Affiliate Codes

Creator Marketing Examples

Loot Crate is a company that sells lots of collectible memorabilia. They’ve worked with some of the best creators in the world, including PewDiePie, with 111 million YouTube subscribers. This campaign included sponsored videos and a promotional discount code.

Audible is a software application that sells audiobooks and podcasts. Their marketing campaign with Instagram photographer Jesse Driftwood shows how the creator economy isn’t just for mega-influencers. The result was a friendly, natural message that his audience could trust.

Almond Breeze is a Korea-based company that wanted to promote its products to a wider audience. So they hired food blogger Jeanine Donofrio from Love and Lemons. Almond Breeze got over 20,000 new Facebook fans with a blog and Instagram endorsement.

best helper offers affordable online therapy worldwide. In 2021, they teamed up with lifestyle influencer Kelly Stamps to promote their services to her 660,000 YouTube subscribers. Better Help has sponsored many videos and provided Stamps with an affiliate link.

Underwear PSD usually offers templates to promote its products. However, in their creative campaign, they worked with Twitch star Ninja. On his Instagram and Twitch feed, Ninja announced a PSD giveaway of 500 free pairs and encouraged followers to share it online.

Projections of the creator economy

There is no doubt that the creator economy will continue to grow this year and in the future. In 2021, the industry grew by $13.8 billion. With trends akin to the gig economy, the creator economy has an estimated future value $1 trillion and beyond.

This means that companies must change their future marketing methods. Plus, it’s not too late to start working with creators. An estimated 77% of all influencers rely solely on brand endorsements. So the creators are also looking for you.

The creator economy is the new way to market your business. It’s key to the future of marketing, and if you want to stay relevant, you have to adapt. We hope you’re excited about the creator economy. With the right strategy, it’s a win for everyone involved!