It's been a decade since the creator's economy has started and it has revolutionised a lot of conventional ideas of earning money. Over 30% of youth don't want to get into conventional jobs, instead, they are opting for being a creator, millions of people are creating content on the Internet and a lot of them have left their conventional jobs and have built empires of their own, and to support these creators platforms are also not lagging they are investing a huge sum of money in creators growth and here are 5 reasons how creators economy is going to transform marketing and businesses forever.

1. A tremendous shift in power dynamics:

   As Robert Kiyosaki quoted in his book 'Rich Dad Poor Dad', how it's certain habits of rich people which make them rich and how Peter Thiel has beautifully described the concept of monopoly but in all these concepts the power and the money somehow belonged to a certain section of society, people who could create something from scratch had to still struggle to get there.

   The corporations were always powerful. The suited man had more money and grabbed more attention, but now the power is moving towards an individual. Big companies are chasing an individual influence because they know the impact big influencers could have.

   Let's understand this better with an example, imagine you own an apparel brand in a high street in your city and that store is 10 years old, now for 10 years you have had the trust of local people with you but in the last 2 years you must have faced a lot of locks down's because of that you could not sell, now there is an individual influencer who started creating content 2 years back from his home with zero investment initially but grew his community to 100k followers and now he starts an apparel store from his home, he can sell a shit load of these products because his community has a trust on him and they will buy again and again until he will keep on creating good content. Now I am not saying he can fight that 10-year-old big company, but he can bring a hole into the pocket of a conventional store that is running for 10 years. Imagine this thing happening globally.

   This is just a minor example now imagine collectively how much power influencers hold?

2. Huge Investment for the growth of Influencers:

   When Snapchat launched Spotlight, an official statement came from them they will invest millions of dollars for the growth of creators so they can become independent, similarly, clubhouse, MX Takatak, Roposo, and even Instagram has paid creators to create content and this is just the beginning. YouTube is still the pioneer for understanding creators as the way YouTube has done things. Nobody else has done and it might not surprise me if in the future we are having official Spotify's Festival or Clubhouse meetups or Roposo's Annual festival because these companies are driving the force. One problem which stopped more people from creating content was monetization and all these companies are solving this by investing huge funds in for the growth of influencers.

3. The flexibility of work:

   There is no 9-5 if you are a content creator, although that doesn't mean that your work will be less, it might be a lot more overwhelming to create content every day and to live by the trends according to the app, but you are not bounded to work like you are in office, you can work according to your convenience, whenever you want, where ever you are because all you need to do is to script and shoot the video if you are creating content on short-form apps or writing. You might require a professional setup to create content on YouTube. Some YouTubers like MKBHD now have studio space with 8K Cameras to create content, but on major apps, you can create content while you are travelling, which opens up another opportunity of being a global influencer.

4. More Business opportunities:

   Starting a business is still a dream for so many people but being a creator is giving them an advantage of taking the fear of risk away, because now if people have a certain amount of loyal followers they would love to buy something from their favourite creator. There are many YouTubers like Mumbiker Nikhil who have their label called Label MN, Bhuvan Bam has his label called Youthiyapa and so many new creators are into merchandising business and a lot of fashion influencers have launched their makeup brands, shoe brands. Being a successful creator gives you an inside edge of running a business successfully.

5. Detailed Analytics

   There was a major problem with the conventional forms of marketing that involved placing hoarding all over the city or giving newspaper ads, which is not true in the digital age, you can get detailed analytics for everything on Instagram, from your story views, to your post views or how many people are engaging with the content, this is solving one major problem for businesses they can run different promotional campaigns and can check which campaign is working for them and which campaign is not working, it helps small businesses especially as they don't want to spend a lot on branding.

I have been working with creators for over 3 years now with my Influencers marketing agency Your Next Filter and there is a tremendous change that I am observing in how brands approach influencers now and it will be interesting to see how it unfolds in the future, what are your views on this changing trends?