In 2021, influencer marketing was a $100 billion industry, and the creator economy became the hottest conversation topic in business and finance circles. Notably, Business Insider reports that the number of people talking about this economy increased by up to 1300% between 2020 and 2021, a remarkable increase. So, what are some of the shifts to expect in 2022:
Here are 7 shifts that will change everything in the creator economy in 2022:
The rise of social commerce
The rise of consumer interest in internet stars
The explosive growth of social tokens
The rise of big data in influencer marketing
Increased number of content creators
Long-term creator relationships
Increased content tailoring
The rest of this article will discuss these trends in detail. Read on for more insights into these and how your business can use these changes to its advantage.
1. The Rise of Social Commerce
The creator economy was once limited to YouTube and blogging. However, the creator economy has now expanded into all forms of social media platforms. Perhaps one of the most popular platforms in China is TikTok, with over 4 million creator accounts.
But it is not just China where this expansion to all social platforms has occurred. According to Research and Markets, influencer marketing will grow by 700% between 2021 and 2028. This explosive growth can be attributed to the growing celebrity status of influencers across all social media platforms, including Twitter and Pinterest.
How to take advantage of this shift:
If you are not already using influencer marketing to market your products, the creator economy in 2022 presents your business with a great opportunity. Hire YouTube influencers to advertise your products on YouTube. Alternatively, create hashtags specific to your product and use them on Instagram or Snapchat. You can also feature creator content related to your brand on your website or blog.
2. The Rise of Consumer Interest in Internet Stars
The creator economy has been around for over 10 years, and social media influencers have been around for 15-20 years. This means that influencer marketing is no longer a new thing.
As I mentioned, there was a 1300% increase in the number of people who use the term creator economy in 2021. This shift is because consumers are getting more interested in internet stars and creator brands.
According to Forbes, 40% of consumers aged 13-54 have paid a creator directly for interactions. These internet stars are not only influencers on social media platforms but also personalities on video platforms. For example, YouTube creator Casey Neistat is considered an internet star with over 25 million subscribers across his social media profiles.
How to take advantage of this shift:
To take advantage of this shift, generate a creator campaign that focuses on internet stars or creator brands. You can also consider advertising on creator channels related to your business. Or you can feature creator content related to your brand on your website or blog.
3. Explosive Growth of Social Tokens
For content creators to monetize their content and gain more creative control over the distribution method, they have increasingly turned towards social tokens. A good example of these social tokens is Steemit. Most notably, content creators get paid for the quality and engagement based on the number of social tokens earned on this platform.
This represents one of the major changes in the creator economy over the next decade: tokens will be used to monetize content and provide creative control. The creator economy isn't just limited to YouTube or blogging; it is now a broad topic that covers all forms of content creation.
How to take advantage of this shift:
As content creator monetization increases, it opens up new marketing opportunities for your business. Start integrating social tokens into your influencer marketing strategy to take advantage of the creator economy in 2022. You can also consider advertising on creator channels that use social tokens.
4. The Rise of Big Data in Influencer Marketing
One of the major ways creator brands are monetizing their content is by using big data to appeal to audiences. For instance, creator brands can determine if an influencer working with them performs well on certain topics, and then they use that insight to market creator products.
This trend is not expected to change in 2022; creator brands will continue to use big data to understand their audiences better and appeal to them. This is not only beneficial for creator brands but also for influencer marketers.
How to take advantage of this shift:
As creator brands become more data-driven, it presents new marketing opportunities for influencer marketers. You can integrate big data into your creator campaigns and use the insight to better market creator content. This will help you appeal to creator audiences.
5. Increased Number of Content Creators
One of the previous major limiting factors in the creator economy was that not everyone could be a creator. However, according to Statista, recent updates and events have increased the number of creator accounts across all social media platforms. For instance, TikTok currently has over 1 billion monthly active users.
This trend is expected to continue into 2022, meaning creator brands will have plenty of content to choose from when it comes time to create their content marketing campaigns.
How to take advantage of this shift:
Expanding creator accounts means that there will be a much bigger pool for creator content. This gives influencer marketers more content to choose from when building creator campaigns, and it gives creator brands a much larger number of content creators to work with. You can take the opportunity to expand your creator campaigns as well.
6. Long-term Creator Relationships
The creator economy is not just focused on one content creator; it can also focus on creator brands. This means that creator brands are looking for long-term relationships with creators instead of simply working with them to get a campaign or product out of the way.
This trend is expected to continue in 2022, and creator brands will continue to focus on long-term creator relationships.
How to take advantage of this shift:
Long-term creator relationships provide great opportunities for influencer marketers and creator brands. You can expand creator campaigns to build a relationship with the content creator instead of just using them for one project. This allows you to improve your creator campaigns over time, leading to better results.
7. Increased Content Tailoring
One of the major disadvantages creator brands have faced is that their influencer marketing campaigns are limited by creator content. But creator content has evolved to better appeal to creator brands, which leads to increased content tailoring.
This trend will continue into 2022 as well, leading creator brands and influencer marketers to take advantage of creator content tailored to their creator brands.
How to take advantage of this shift:
As creator content evolves, you can increase your creator campaigns' effectiveness by tailoring your creator content marketing strategy to the creator content itself. For instance, if a creator brand is working with two influencers and one is known for storytelling while the other is known for tutorials, you can incorporate both creator content styles into your creator campaigns. This leads to more effective creator campaigns and better results.
Conclusion
The creator economy is a trend that has influenced many people's lives and will continue to do so in 2022 and beyond. With the rise of new technologies, creator brands will continue to embrace creator content marketing, influencer marketing, and creator economy.
Therefore, you can utilize the creator economy by tailoring your marketing strategy to the creator content itself. For creator content marketing to work, you can build creator campaigns that focus on long-term creator relationships instead of one-time projects.