Building Growth and Resilience: Creators Must Diversify for Sustained Success

Risk is real for creators in todayamp8217s social commerce landscape Relying solely on one platform or income stream can result in tough challenges due to everchanging algorithms and fluctuating market trends As a result diversification has become not just a strategy but a necessity for creators aiming to enhance their visibility and financial stabilityThis article delves into four crucial areas of diversification social media platforms monetization methods retailer and brand selection and content monetization platforms By considering each of these avenues to diversify creators can discover new earning opportunities find ways to grow audience reach and build more resilient business modelsBlending the Right Social Media Platform StrategyThe volatility of social media algorithms and unpredictability of policy updates can directly impact the bottom line so creators must understand the importance of not relying solely on any one single platform for content distribution For instance an unfavorable algorithm update could lead to substantial losses in audience reach or story views potentially impacting a creator39s business by 30 or more Extreme scenarios such as a platform being banned such as the TikTok ban or sudden account suspensions underscore the vulnerabilities of depending too heavily on a single platformWhile managing content distribution and audience engagement on multiple platforms is more work it can be worth the investment For instance creators who primarily use TikTok should consider expanding their presence to Instagram and YouTube if they havenamp8217t already Facebook content creators should think about integrating Instagram into their strategyThere are also opportunities for creators to amp8220ownamp8221 a portion of their audience via a personal blog or newsletter distribution While both of these take time to establish and require a creator to promote in order to grow blogs and newsletters can engage followers in a more riskfree environment compared to major social platforms In many cases blogs and newsletters may not be the majority of a creatoramp8217s audience but they can be the most loyal and highest converting Conversion rates can be double or triple on a blog versus social media posts So 5 of clicks on a creatoramp8217s personal blog can bring in 15 of revenue Also blog posts can live on and pick up SEO value unlike most social content which disappears after 24 hoursWhy Monetization Types MatterBlending performancebased affiliate marketing and flat rate brand sponsorship monetization strategies can fortify a creator39s financial stability Hereamp8217s why relying solely on brand sponsorships can be risky especially during economic downturns or budget cuts in marketing Economies are not always flush and when times get tougher top of the funnel dollars in brand sponsorships can dry up or shift to lower funnel performance dollars quicklyCreators that havenamp8217t tapped into the power of affiliate marketing are leaving earnings on the table Affiliate marketing offers a sustainable performancebased revenue stream that diversifies revenue boosts authenticity and helps fuel flat rate opportunities It requires hard work and performance to earn because creators only generate revenue when they drive sales but affiliate marketing allows creators the freedom to pick what they want to post and produce content that is authentic and driven by their own style and voice Followers can often fatigue from seeing too many sponsorships that come off as amp8220salesyamp8221 so affiliate driven content can change things up Sales data driven by affiliate marketing can also help creators increase their campaign win rates as they pitch for more flat rate deals Ultimately a blend of affiliate monetization with sponsorships is a great business moveChoosing the Right Retailers ampamp BrandsSelecting content from a variety of retailers can enhance a creatoramp8217s offering and earnings This type of diversification helps keep content fresh and prevents audience fatigue and also capitalizes on earning windows from category specific merchants What is beauty without Ulta kidsamp8217 clothing without The Childrenamp8217s Place and Carteramp8217s or footwear without Nike or New Balance Sticking with just one or two retailers may not be the best long term playDiversity in retailer choice allows creators to tap into unique promotions and product lines that followers will love and that arenamp8217t always matched at Amazon Creators that donamp8217t branch out will miss opportunities to promote some of the best sales for their audiences and large earnings drivers for themselves This diversification can drive both short term revenue wins as well as longer term sustainabilityVersatility Across Creator Monetization PlatformsItamp8217s vital for a creator to tap into more than just one multiretailer monetization platform Relying on just one partner can limit access to services retailer rates and coverage and other earning opportunities For instance one platform could have rates for a top retailer at 10 while another has the same retailer at 15 Or a creator may not land a sponsorship opportunity on one platform but could on a different one Also service varies widely across platforms where with one partner you may just have an email alias or ticketing system to submit a question while on another platform you could gain access to a dedicated account manager to help grow your business Working across multiple monetization platforms may take a bit of extra effort but the payoff can be very largeThe advantages of diversifying social channels monetization methods retailer partnerships and creator monetization platforms are clear Putting too many eggs in one or two baskets amp8211 especially for creators where social commerce earnings are their sole income amp8211 means their business carries a highrisk profile Diversification takes work and creators should experiment with what works best for the time they have available and for what their audience wants to see Those who are open to diversifying their approach to content and earnings stand the best chance of seeing sustainable successPosted at MediaVillage through the Thought Leadership selfpublishing platformClick 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

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Building Growth and Resilience: Creators Must Diversify for Sustained Success

Author

Publish date

Channel

Chris Curtis

American Lung Association and the Ad Council Unveil New PSAs Highlighting the Significance of Early Detection for Lung Cancer - Ad Council InSites

More Videos:

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Building Growth and Resilience: Creators Must Diversify for Sustained Success

Enjoying This Commentary? There's More to Love

Chris Curtis

TAGS:

American Lung Association and the Ad Council Unveil New PSAs Highlighting the Significance of Early Detection for Lung Cancer - Ad Council InSites

The payment was successful

Cookies