America Loves Creators. How Should Brands Ride the Wave of the Creator Economy?

In fact for the first time the festival had a new Creators track LIONS Creators a dedicated forum that included a mix of exclusive learning and networking experiences for creators and those working in the wider creator economyChris Vollmer Managing Director of MediaLink observed quotThe festival has gradually begun to acknowledge and most prominently this year that there39s a whole ecosystem well beyond Hollywood and traditional Madison Avenue where a lot of these brands are focusedquotIn short 2024 is the year when the power and velocity of Creators moved from the periphery to the center of the world39s biggest advertising event And with good reasonCreators Take Center StageIn a world brimming with content marketers seek new and better ways to connect with consumers Enter creators social media influencers who have emerged as the new custodians of consumer trust wielding the power to shape trends influence decisions and build communities The creator economy has long been a buzzword but understanding it is no longer optional it39s imperative for brands looking to thrive in a marketplace where authenticity and connection reign supreme But what do brands need to know about the creator economy today And how are consumers engaging with creators New research sheds important light to illuminate the best path forwardCreators are capturing America39s attention big time According to quotCreators Uncoveredquot which we released late last year there are a staggering 27 million paid creators in the US representing 14 of consumers aged 1654A newly released companion study quotUnveiling Influencequot which we conducted in partnership with Suzy reveals the vast following of these creators with 69 of Americans ages 1654 following them Moreover 60 of followers interact with creator content daily showcasing the shift towards creatordriven content as a key component of daily entertainment and information consumptionIn Creators We TrustKey to the rising engagement with creator content is the fact that consumers place significant trust in it It has long been the case that consumers trust what they learn from family friends and coworkers and that remains the case today 75 Creator content almost reaches that bar at least content from certain types of creators namely those specializing in a specific area with 62 of Americans valuing their insights This highlights the role of specialized creators as credible sources of information within their domains In contrast considerably fewer consumers trust recommendations from celebrity influencers 44 or advertising 40The Power of Creator Content vs AdvertisingCreator content not only reaches a broad audience but also outperforms conventional advertising Consumers find creator content more exciting by a margin of 36 points unique 31 emotionally engaging 28 relevant 30 and shareable than traditional ads 31 In fact across 10 attributes creator content consistently surpasses traditional advertisingCreator Content Cuts Across a Wide Range of CategoriesSeveral content categories stand out as particularly engaging to consumers Food beverage and cooking content is at the forefront with 65 of respondents captivated by its rich appealing videos and posts Entertainment follows closely engaging 62 of those who follow creators Beauty and fashion as well as health and wellness also attract significant audiences with followings of 53 and 52 respectively These varied content preferences showcase the adaptability of creators to meet diverse consumer interestsInformative and Entertaining ContentConsumers enjoy creator content for its ability to inform and educate while providing entertainment Humor and informative content are the primary drivers each cited by 67 of respondents Additionally majorities follow creators to learn new things 54 and because of shared interests 50 These findings highlight a dual quest among digital consumers the desire for entertainment and the pursuit of knowledge and community Creators who effectively blend these elements are likely to capture and retain dedicated followings making them powerful allies for brandsShow Me the Money Consumers Act Based on Creator ContentAn overwhelming 80 of respondents report taking some form of followup action inspired by creators This not only highlights the reach of content creators but also their ability to spur engagement beyond passive consumptionA significant 55 of those influenced have researched a brand39s website after discovering it through a creator This initial step can be crucial for brands in drawing consumers into their ecosystem providing an opportunity to engage them with more indepth information about their products or services Moreover 46 of respondents followed a brand on social media following a creator39s endorsement representing a direct line to consumers and offering brands repeated opportunities to engage through contentPerhaps most compelling is the conversion of this influence into sales with 43 of those influenced by creators making a purchase This statistic clearly indicates the ROI that influencer marketing can offer demonstrating that creator endorsements not only capture attention but also persuade action Furthermore the cycle of influence often doesn39t stop at the point of purchase 42 of respondents recommended brands to someone else expanding the reach and impact of the initial creator endorsement through wordofmouth a powerful tool in any marketer39s arsenalBottom LineThe key to successful marketing in the mid2020s is meeting consumers where they are Brands can do that by leaning into trustworthy entertaining informational and relevant creatorbased content Brands that recognize and harness the power of creators will find themselves not just participating in the market but shaping its futureIn today39s rapidly evolving landscape where culture the economy and consumer behaviors are in constant flux brands must stay well informed Understanding which creators resonate with your target audience and the types of content they prefer is crucial Effectively leveraging this consumer feedback can significantly enhance your influencer marketing strategies connecting you with the right creators to amplify your brand39s messagingThis article was co written with Heather Evans a passionate market research veteran who successfully launched two major brand measurement products including The Keller Fay Group39s TotalSocial She excels at weaving together wordofmouth social media and influencer data into compelling stories for many of America39s biggest brandsClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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America Loves Creators. How Should Brands Ride the Wave of the Creator Economy?

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