Yep, Every Business Is Now a Content Business

NAB

It should come as no surprise to digital marketers that content creators are a necessary partner to reach key audiences, nor that authenticity and trust are the foundations on which successful partnerships are built.

article here

Nonetheless, the point is worth emphasizing given the importance to both sides — brands and creators — of building the creator economy.

According to data from impact.com, some brands are now reaping over 28% of their total company revenue through partnerships, while those committed to what the company calls the “partnership economy” over the long term are achieving year-on-year revenue channel growth exceeding 50%.

With the rise of influencers, content creators, and the overall creator economy, it seems everyone (journalists, major brands, social platforms, marketers) has since recognized the power of creators in directly and authentically reaching and engaging larger audiences than any static ad ever could, Cristy Garcia, chief marketing officer at impact.com, says.

Crucially for marketers, the creator economy is remarkably effective in driving campaign performance. Nearly a third of all social media users discover new products through influencers, and Goldman Sachs suggests that, by 2027, the creator economy will nearly double in size from $250 billion to a potential $480 billion globally — “a statistic marketers cannot afford to ignore,” emphasizes Garcia.

She adds, “it is evident that the creator economy, with its adept utilization of videos, still has untapped potential.”

Creators may be experts in the respective domains and are “an exceptionally trusted resource” for consumers, but that doesn’t mean that they will all make perfect matches for brands.

“Just because an influencer may be good at promoting businesses doesn’t mean they’re a fit for yours,” says Garcia. “You’ll want to find partners with aligned audiences and ones who match your brand’s values.

Rather than squandering resources on “broad, spray-and-pray marketing campaigns,” she adds, brands are natively introduced to a new or shared audience authentically.

“For the best ROI, we recommend paying your creator partners not just a flat fee or performance-based payouts but combining both of them to ensure your creator is happy with the arrangement and so is your budget.”

In the past, brands would simply pick the top celebrity and ask them to push their product. Nowadays, consumers are much more savvy, and this simply won’t fly.

“Consumers are becoming increasingly aware of marketing tactics,” branding expert David Harris notes. “We cannot stress the importance of authenticity when choosing a creative partner.”

Harris has some advice to brands wanting to work with creators. In essence, collaboration is key.

“If your brand chooses to work with creators, you need to strike a balance between your brand’s objectives and the creator’s unique vision,” he urges. “The spirit of collaboration needs to be at the heart of everything you do together.”