Navigating the Creator Economy: A Look into Creator Con 2023
It should come as no surprise that in social media, keeping ahead of trends is crucial.
It’s like being at a party—you want to know what everyone’s talking about, what music is playing, and what the latest dance moves are (especially for TikTok).
Attain’s own Louise Bentley, Director of Integration, has witnessed decades of varying trends.
With more than 35 years of experience in marketing, advertising and public relations, Louise is no stranger to the marketing space. Coming from a background in shopper marketing, she understands the fluidity of market trends and how they evolve over time.
Louise recently attended Creator Con 2023. Hosted by Meta and TikTok, Creator Con brought influencers, agencies, and brands together to share invaluable insights that explored the dynamics of the creator economy.
Here are some of Louise’s key takeaways:
Table of Contents
The Rise of the Creator Economy
Technology is making it easier than ever for anyone to create content and make money doing what they love. Now, anyone with an internet connection and a phone can create and share content with the world, and they can even make money from it if they’re successful.
Here is where we see the rise of the creator economy.
The creator economy is a rapidly growing ecosystem that empowers content creators to monetise their work and build thriving businesses.
At the heart of the creator economy are the platforms that enable creators to connect with their audiences and distribute their content. These platforms include social media networks (such as YouTube, TikTok, and Instagram), streaming services (such as Twitch), and online marketplaces (such as Etsy and Patreon).
As this ecosystem continues to evolve, we can anticipate even more innovation and creativity, further enriching content creation and redefining the way we consume and interact with content.
The Three Core Pillars of Successful Content
So, what’s the secret recipe for these creators? According to Creator Con, success of these creators on platforms like TikTok hinges on three fundamental pillars:
Authenticity: TikTok viewers can spot sincerity from a mile away. That’s why it’s crucial to share genuine experiences, and be transparent.
Community: TikTok thrives on a sense of community. Understanding your audience, engaging with them and actively participating in ongoing trends is key to fostering an interactive fanbase.
Creativity: Creativity is currency. A keen eye for trends and a knack for innovative storytelling captures attention swiftly.
Empowering Influencers as Independent Creators
In a poll with creator attendees, we saw that the majority of content creators on TikTok operate independently, without traditional agents.
A shift is underway in how influencers engage directly with brands, placing a premium on both efficiency and authenticity. This change comes from influencers being entrusted not just as content creators but as curators who intimately understand their audience. This trust translates into the creation of sponsored content designed not just to be seen but to resonate.
The creator economy has given rise to the ‘economy of one,’ where individuals, regardless of their professional background, can harness their creativity to build a substantial following and, in many cases, turn their side hustles into primary income sources.
What Does This Mean for Brands?
The creator economy is transforming the way brands approach marketing and content creation.
Essentially, brands should be paying more attention to what these creators are doing (because obviously it’s working), like focusing on creating content that resonates on a personal level, moving away from traditional advertising methods.
But still – influencer partnerships should still be considered. Collaborating with content creators not only brings a sense of genuineness to a brand message but also provides valuable insights into specific audience preferences, thanks to their deep connection with their followers.
The creator economy has also opened doors to niche marketing opportunities, allowing brands to target their efforts more precisely.
It’s fascinating how user-generated content can enhance engagement with customers, fostering a sense of community and trust. This shift has meant reallocating traditional advertising budget towards more creator-centric collaborations, which often offer a higher return on investment due to the targeted and engaged nature of these digital communities.
In essence, being part of the creator economy can make brands more agile and audience focused.
Want to Learn More?
The creator economy is not just a fleeting trend but a fundamental shift in how brands must approach content creation and marketing. For businesses looking to thrive in this new era, embracing the creator economy’s opportunities is key.
At Attain, we are equipped to guide our clients through this new, exciting landscape. Get in touch today to explore how we can help your business navigate the creator economy.