As the Creator Economy continues to heat up (Goldman Sachs predicts it could reach $480 billion by 2027), those who operate in the ‘Reputation Economy’ are probably wondering what all the fuss is about.
Why should I, as a busy solopreneur or founder of a growing expertise-based business, get too hung up about a YouTuber generating millions of views (and dollars), or a teenage TikToker who has launched a product line to satisfy her huge audience?
Fair call. But as entrepreneurs, it’s important to at least stay up to date with what’s going on in the media and marketing landscape, because undoubtedly it’s going to affect you and your business one way or another.
Quick definitions …
Before we keep going, just so we’re on the one page, here are couple of quick definitions of the two ‘economies’ (see video below for a deeper explanation):
CREATOR ECONOMY – Refers to the ecosystem and marketplaces that have emerged to support and monetise the work of content creators, social media influencers, and independent artists. It’s driven by the rise of online publishing platforms and social media, which have empowered individuals to create and distribute their own content, build an audience, and generate income through various means
REPUTATION ECONOMY – Focuses on the value of an individual’s reputation and online presence in the broader context of their personal and professional life. It encompasses the idea that a person’s online reputation, as established through their digital interactions, contributions, content, speaking and feedback from others, can have significant real-world consequences for their business and professional life.
With the above in mind, here are two trends you might be interested in (and reasons why you should care):
The rise of older (midlife) influencers in the Creator Economy
- Older creators are flipping the script, turning decades of experience into influence, income, and impact in the Creator Economy’s fastest-growing (and most underestimated) wave.
- Interestingly, 60% of social media users aged 45 to 60 expressed willingness to leave their current jobs to pursue influencer careers, surpassing the 50% of users aged 18 to 29 who felt the same (SOURCE)
- EXAMPLES – Caroline Baudino, Geoffrey Schmidt, Rob Berger, Azul Wells, Joshua Becker, Zipporah Lubin-Sandler [see examples of their work below ]
WHY SHOULD I CARE? Maybe there’s an opportunity for you to establish a content play that sits apart from your business, focusing on a topic that you’re passionate about that you can build as a sideline business? #FoodForThought
The rise of B2B creators/influencers
- Ali Abdaal – Ali is a highly successful YouTuber, podcaster, author, and entrepreneur in the productivity and creator economy space; he has worked with a variety of brands including Shopify, Skillshare, Notion, Voicepal etc.
- Oana Labes, MBA, CPA – Oana’s teaching extends into her newsletter, The Finance Gem, which is read by over 400,000 finance professionals globally. She is also known for her work with the Financiar community and her brand partnerships that always centre on financial outcomes.
- Emily Sundberg – Emily is a successful Substack publisher who has leveraged her platform to build a strong influence, leading to direct brand collaborations and showing the power of the newsletter format for marketing.
- Richard van der Blom – Richard is an excellent example of a B2B influencer who consistently works with and benefits other brands, not just his own company, Just Connecting HUB. He’s a prime example of an independent expert whose influence is built on research and data, making him a valuable partner for relevant B2B brands.
WHY SHOULD I CARE? If you operate in the B2B world, perhaps you can collaborate with a micro-influencer or nano-influencer to help promote your business, or maybe – if you play your content cards right – you too might become in-demand as an influential creator. #OpportunitiesAbound
FYI – here are the key differences between micro-influencers and nano-influencers, focusing on follower count, engagement, cost, reach, and brand collaborations:
If you’re a brand choosing between nano and micro:
- Choose nano-influencers for grassroots buzz, authentic testimonials, or local reach.
- Choose micro-influencers for scalable reach while still keeping decent engagement and affordability.
EXAMPLES (IN ACTION) – The rise of older (midlife) influencers in the Creator Economy
Caroline Baudino —
View this post on Instagram
Geoffrey Schmidt, CPA —
Rob Berger —
Azul Wells —
Zipporah Lubin-Sandler —
View this post on Instagram
Joshua Becker —
View this post on Instagram
Rounding up …
As I wrote back in 2021, we should be keeping a close eye on the independent content creators (i.e. those operating in the Creator Economy) because they’re at the cutting edge of what’s happening currently in the world of content marketing and social media.
I wrote: “Don’t follow your competitors (and end up looking like them). Go to where the real action is and absorb ideas and insights that your run-of-the-mill content marketer (who is probably copying everyone else) can only dream of … and start putting them to work in your business!”
I believe this still holds true today. Indeed, it’s probably even more imperative for progressive business owners.
And then I went a bit deeper into the topic a couple of years later in this newsletter, urging readers to consider employing some up-to-the-minute Creator Economy content and digital communications strategies in their business, as a way of getting a jump on the competition.
I can attest that creating content and building an audience can lead to opportunities over and above the day-to-day operations of your own business.
I established my PR Warrior blog back in 2007 while running my own PR and brand communications agency. Over the years, as my readership (and social media following) grew, so too did my profile and market influence.
I was invited to collaborate with numerous businesses and brands, including one of Australia’s largest airlines. Plus I got a book deal with a global publisher, and I hit the professional speaking circuit with the help of a speakers’ bureau.
Opportunities existed then (I’m talking some 10-15 years ago), and they have grown today as the appetite for independent content creators and influencers grows (albeit, so too has the competition).
Think about it – you are more than just a business owner today: create content, build a following on social media, get out and speak on stage, write a book maybe … grow your profile and reputation (in a smart, strategic way) and who knows what doors of opportunity might be flung open for you!
Onwards!
TY
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