Rem Darbinyan is the Founder/CEO of SmartClick. SmartClick builds deep tech innovations based on artificial intelligence & machine learning.
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As traditional methods of reaching a mass audience dry up or become too competitive, it gets challenging to find and nurture the audience who are more likely to transmit your content and take action.
With the rise of the internet, the media landscape has changed significantly, paving the way for millions of content creators who have shaped the creator economy space. And, like with any trend that gets popular quickly, the creator economy is revolutionizing marketing and business strategies as more brands now rely on trusted online personalities to become advocates who spread their brand message.
The creator economy skyrocketed even further with the rapid growth of artificial intelligence technology that has amplified the industry’s possibilities making it easier for creators to produce better content. So, what is the creator economy, and how is it going to drive a new wave of innovation with the help of AI? Let’s explore.
What Is The Creator Economy?
The creator economy is an ecosystem with an estimated worth of around $104.2 billion, where people create online content and make money from it. It’s about independent content creators, designers, artists, bloggers, influencers, course creators and others who earn money by monetizing their skills, talents, knowledge and expertise.
The industry has been evolving from a period when we relied on a few media houses, TV stations and newspapers to a decade when social media drew audiences away from traditional media, providing a platform of expression for people and offering them tools to build large audiences online.
What has driven the creator economy is the fact that it’s become easier than ever for creators to build and engage particular audiences with incomes that reach from a few hundred dollars to millions of dollars for their ideas while enjoying the flexibility of working how, when and where they want.
How Does The Creator Economy Work?
Creators generally make money by sharing content on ad-sponsored platforms, receiving subscriptions, partnering with brands, charging for courses, podcasts and more. They use content to communicate with their audiences and rely on them to engage with their content and purchase from the brands they endorse. The audience can also support the creator to attract advertisers who pay them to promote services through product placements, sponsored posts, etc.
Social media platforms remain a common place for creators to share and monetize their content. The top social media platforms for creators include Instagram, TikTok, YouTube, Facebook and Twitch. As some creator economy statistics show, Instagram takes the lead as the most favored monetization tool for creators, followed by TikTok and YouTube. Usually, creators may get anywhere from 55% to 100% of ad revenue generated by their content, depending on the platform and the content they make.
How AI Is Enhancing the New Era Of Creator Economy
The concept of the creator economy is evolving, and it has taken new heights with AI as an essential component of the industry. Here are a few ways that AI has been central to the creator economy’s transformation.
Idea Generation: AI can help develop useful content for social media and determine social media posts with the highest engagement. AI is also good at screening the ideas your audience anticipates and generating topic ideas based on their interests. HubSpot’s blog topic generator and Portent’s Content Idea Generator are some of the most popular tools.
Content Creation: Content plays a huge role in the creator economy, and creating relevant content that stands out takes lots of time and consistency. AI-powered content generators, such as OpenAI’s GPT-3 and Jasper, are advanced writing assistants that create a human-like copy in seconds. As for creative content ideation, Dall-E 2 is also rising as an innovative alternative to generate realistic visual content from natural language descriptions.
Text Optimization: With the help of AI, optimizing content for SEO can also become easier. AI-powered SEO can help create top-ranking content and improve organic traffic by discovering the related keywords or rewriting texts to be keyword-focused.
Content Recommendation: AI-powered recommendation engines identify new and upcoming creators allowing anyone with a good idea to find an audience for their work. This makes it easier for people to access and consume content depending on their taste while giving new opportunities for creators to succeed.
AI For Matching Brands With Influencers: The creator economy has fueled the growth of influencer marketing with more brands choosing to partner with social media “influencers,” people who have built a reputation for the high quality of the content they post on a specific topic. However, identifying the right influencers for brands may not be easy. AI-powered brand-influencer matchmaking systems can help find the right ambassadors and predict the most beneficial partnerships between brands and influencers. Influencer recommendation platforms are also reinventing how content creators and brands connect.
AI For Creating Virtual Influencers: With the rise of influencer marketing, it becomes harder for brands to diversify their social media strategy and find influencers who resonate with their target audience. To keep up with the challenges that arise within influencer marketing, many brands embrace an alternative approach to influencers and create their own AI influencers they can control every aspect of. Lil Miquela and Shudu are some of the best examples of AI social media influencers who boast great visibility and can help brands stand out with their unique form of expression.
Conclusion
The role of AI in the creator economy is rising, and it’s exciting to see the positive impact AI has had in enhancing the experience for creators and consumers alike. AI has been reshaping many aspects of the creator economy, and as it grows further, it will unlock new avenues for technology-driven changes and innovations across the creator economy.
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