The designer economy: what is it and how can brands get involved? | MG Empower | Open mic

What is the designer economy?

It’s a new ecosystem where creators can apply their passion and creativity to make money, instead of just relying on likes and opinions. It aims to bring more life and meaning to the traditional media landscape in a way that enables creatives around the world to bring out the best in themselves, fully driven by their passion.

The essence of this economy is that every creator can now directly reach their target audience, without the help of a third party. This offers a massive change from what we are used to with the traditional media landscape. To put it simply, today you and I can now build strong businesses, even from a small but dedicated fan base, in a way that takes full advantage of our creativity, our passion, our innovation and our hard work.

Platforms that elevate the creator’s economy

Take a look at the world of marketing now; the landscape is changing dramatically as people now have more freedom to be creative in the way they bring their ideas to life. The designer economy is now booming with rich, innovative content and in a way that resonates with millennials and the current generation. I must point out that some game-changing platforms have propelled the success we are seeing now:

Patreon: Patreon is a go-to platform to reward content creators for their content. Today, more than 6,000 patrons support a dozen creators at the same time.

Only fans: The current rapid increase in popularity of OnlyFans is simply amazing, with over 50 million users in 2021. Today, it is not difficult to find social media redirecting their followers to this platform. , with promises of exclusive content.

Stir: With Stir, you can share the revenue from your content through collaboration. This platform alone raised $ 4 million in funding in 2020.

YouTube Super Chat: Most Youtube players use this option to earn money as the feature allows users to pay to pin comments in live video.

Buy me a coffee: Through a meet and greet model, the app allows the public to book coffee sessions with their creators (similar to a zoom call). In April 2021, this application reached 300,000 creators.

How brands can engage in the designer economy

The writing is clearly on the wall; brands that want to stay relevant in this dynamic world of content creation and marketing need to adapt and quickly! But that’s not all; they should also find ways to empower the key players on the ground – the content creators.

I think it’s time for brands to change direction. Instead of trying to connect with consumers, they should instead aim to connect with people. But what is the difference? Consumers only buy your products, people make a personal connection with your brand, and that’s where the economics of the designer come in. It allows brands to build natural communities and add value. Consider the following tips:

1) Rethink the value proposition to partner with content creators and achieve new audience engagement opportunities

Brands need to start telling their stories differently. Few people now pay attention to brand stories that don’t resonate with them. The public is now looking for more personal connections with brands. And that’s why a good partnership with content creators is essential. They are in a better position to create more engaging and authentic connections with target audiences.

2) Train the marketing teams on the necessary virtual platforms

The new economy offers exciting and revolutionary platforms, and your marketers should be able to explore them. Above are five of the most influential platforms. Try it, explore them. Getting your marketers active there will give them a better understanding of what creators are looking for and open up the opportunity to test and learn new strategies on how to approach audiences and deliver new experiences. unique in collaboration with content creators.

3) Support the growth of content creators

Flash info: marketers are no longer in charge. Today, brands now share their control with content creators who have loyal following. These creators now make their money from their audience and can invest more in their content creation to add more value. I think the smarter choice is to support their creativity while providing them with the tools they need to get the most out of it. Let’s start by approaching and understanding content creators as production and storytelling managers.

4) Switch from the traditional marketing approach

Outside with the old, with the new. Brands need to rethink the way they communicate to adapt to this changing marketing landscape. The designer economy is completely decentralizing the media landscape and it’s up to brands to understand the incredible potential that this entails, in order to reach consumers looking to build long-term relationships, instead of a one-off conversion.

Key points and recommendations

  • If brands are to remain relevant, they must adapt and support the boom and growth of the designer economy.
  • The designer economy holds the key to present and future marketing, eliminating traditional marketers. As a result, creators will dominate the media and creative organizations in the future.
  • Brands still have time to change their mindset, to readjust and to collaborate with the players in this economy: content creators. This will help them create more engaging and effective marketing strategies and explore new audience engagements.
  • Brands should explore new models that focus on real people, not consumers.

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