I keep hearing about the booming creator economy, about brand new unicorns, about the dozen new features on each platform. But the reality is that all of these things actually just empower the big shots in the industry- people who already have tens of thousands of followers and a unique brand image in place. But what about the rest of the creators?
What about the ‘middle class’ content creators?
The majority of creators belong to the middle class - They have a couple of thousand followers and put out well-thought valuable content but fail to leverage this audience and work into substantial monetary gain!
Why does this happen?
If we take a look at the current most popular monetization models, we will realize that most of them are unfavorable for small or middle-class content creators.
These models by their very nature encourage concentration of revenue and royalties to only top-class creators.
Advertising- Pay Per Click(PPC) ads are the go-to way for most creators for their blogs, videos, websites, etc. Though it sounds quite lucrative its monetary outcome is quite meager if you don’t have a large following, to begin with. For YouTube, there are various metric requirements for monetization. Moreover, sometimes you also have to take into account the various formats of ads like Pay per lead, Pay per sale, Pay per impression which makes it even more difficult to earn money.
Branded Deals- Brands prioritize bigger creators with millions of followings. There are brands that reach out to niche content creators but again income from such deals is irregular and not enough for a stable monetary source. Moreover, branded content restricts your creativity and the content you create for brands is likely to be subject to various terms and conditions barring you from repurposing that content.
Affiliate Marketing- Affiliate Marketing is becoming more popular these days, Zuckerberg also recently announced integrated marketing features for Instagram. But there’s a catch, affiliate marketing has a high barrier to entry. Brands will make sure that you can provide them with great sales before partnering up with you and giving you a referral code. Also, this is commission-based work so even if you get the link you have to compel your audience to keep buying otherwise you will make no money out of it.
So what can you do instead?
Monetize Premium Content- You might be a blogger with a decent amount of readership, instead of running behind ad money try creating a high-value premium blog that your readers would have to pay for instead of consuming it free. And this applies to all forms and mediums of content. Twitter recently launched ticketed spaces and Facebook introduced stars and Instagram has badges- all of these point towards the growing popularity of paid content.
Subscription Models- Apple introduced a paid subscription model for its podcast platform, Spotify did the same. Twitter has acquired Revue, a major Substack competitor. YouTube has been pushing premium membership- all of these indicate the larger trend of the subscription economy. And the best part is that every creator can claim success under this model no matter the number of followers if they have a decent percentage of super-fans who are eager to pay for their work. You just need to deliver great content and build a niche community (which you probably already have).
Creating Digital products/ E-courses/ Cohort-Based Communities - If you are a niche content creator and have a deep understanding of the industry and various elements surrounding it, then creating educational courses or products that help your community members in their creative journeys is a great way to monetize your talents. Take for example the likes of Ali Abdal, Vaibhav Sisinty, Chris Do, and many others.
How to implement these models in your content career?
How can you shift from your current monetization models to the ones that are actually effective?
How can you engage your community and build your superfans?
How can you successfully create and market your products and services?
How can you take your monetization game a notch higher?
That’s where we come in.
Leverage your Audience and Monetise your Creative Journey!
Join me on the 10th of July, Saturday 2021 from 4 pm IST to 6 pm IST. I will be addressing everything you need to know about the different creator-friendly monetization models, different content plans, and how to create a strong community followed by detailed QnA to help you identify the things that suit your unique community the best.
Who is this workshop for?
Aspiring Content Creators and Artists
a. Build a unique brand.
b. Learn how to build a profitable community.
c. Monetize your creative journey right at the beginning.
Established Content Creators
a. Develop a well-balanced monetization mix.
b. Stabilize your income source.
c. Engage your Community better.
Entrepreneurs and Solopreneurs
a. Branch out your income sources.
b. Use content to create a better brand identity.
c. Create a lively community.
Social Media Marketers & Managers
a. Gain a better understanding of your community.
b. Curate a well-balanced content plan.
c. Earn more money through well-distributed content.
Thank you so much for reading till the end.
If you want to know anything more about the workshop or have any suggestions please feel free to reach out to me at @pawan_rochwani.
If you know someone who might be interested in this workshop please consider forwarding this email to them.
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