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By Tom Huddleston Jr.

This story is part of CNBC Make It’s The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown.

Amber Venz Box only wanted to earn a reliable income doing what she loved. She didn’t intend to help create an entire online industry.

The 36-year-old is the co-founder and president of LTK, a Dallas-based marketing company that connects more than 250,000 influencers and bloggers with over 7,000 retail brands with advertising budgets to spend. She’s credited as a pioneer of the creator economy with a business most recently valued at $2 billion, following a 2021 fundraise from Japanese investment holding company SoftBank.

In 2010, Box was an unpaid fashion blogger trying to promote her services as a personal shopper. She’d held some low-level positions in the industry: a fit model, an intern at Thakoon, an assistant buyer at a luxury boutique in Dallas.

When an article in The Dallas Morning News pointed readers to her blog, Box realized she’d made a mistake: Potential clients were reading her fashion tips and buying the clothes themselves. She wasn’t making a penny, and affiliate marketing — where blogs link out to retailers in exchange for a cut of sales — wasn’t yet commonly used in the fashion industry.

“That was an ‘aha moment’ of, I have to modernize my business so that I can actually continue to charge for the sales that I’m driving to my customers,” Box tells CNBC Make It. “That was the impetus for us starting [in 2011] what was RewardStyle, and is now LTK.”

She and her then-boyfriend, an electrical engineer and tech analyst named Baxter Box — they’re now married with four kids — adapted existing affiliate linking tech to fit her blog. Once she started making money, she realized she could sell the technology to other bloggers, who could benefit similarly.

Since launching, LTK has helped online creators earn at least $2.7 billion in pay-outs from retailers, according to the company. It has turned 240 influencers — all women — into millionaires, Box says.

Here, Box discusses the challenges of launching LTK, the risks of completely devoting yourself to an uncertain venture and where any aspiring entrepreneur should begin.

CNBC Make It: Can you describe the process of turning your fashion blog into an online business?

Box: [Baxter] saw me really struggling. We went for a walk one day, and he was like, “Anything’s on the table. How would you want to make money on this?”

My old business model [as a personal shopper] involved getting paid a commission. That seemed fair. That’s what I wanted to do here. So he researched and found some technology that we could apply back to this space.

I put between $500 to $1,000 towards engineering to get this going, and he did the same. I drew up, on PowerPoint, what I wanted it to look like. We met with this guy on the weekends and paid him piecemeal, hourly, to start coding it.

In 2011, we launched and I was able to start earning commissions.

Did starting a business feel like a big personal risk?

There was also almost no [financial] downside. I was in my early 20s, living at home, still eating my dad’s cereal. Worst case, this stays the same. Best case, you have a business where you get to do the things you want within this lifestyle that you wanted to create.

But there was a pressure of, “This better work, because I’m sacrificing everything to make it happen. And what if I do this for X period of time and it doesn’t? That’s going to just be this huge hole and pit in my life.”

I was spending 24 hours a day [on the business]. I was silencing phone calls. I was not spending time with friends. I abandoned a lot of relationships, and very quickly.

How confident were you that this would become a viable business beyond your own blog?

I was confident that people would be excited about it. Bloggers didn’t make money [at the time], and I knew that the second they made $100, that they would want to keep doing this. But I really didn’t know how we were going to pay the bills that we were incurring from hiring an intern, hiring an engineer.

One of the biggest challenges with retailers was getting them to believe that someone who had a website on the internet should be part of their marketing plan. The feedback I would often get was: “We work with celebrities or models. This is not part of our plan. We are a luxury brand, we are elevated.”

There were two key businesses at the time that were selling [luxury items] online, ShopBop and Net-a-Porter. I basically asked them to pay me a commission for the online sales that I was driving, and that’s when the business really took off.

You started LTK before most people knew the term “creator economy.” Did you feel like you were ahead of the curve?

No, I really didn’t even think of it as an industry. I struggled until 2015, when we fundraised for the first time, to try and explain the space that we were creating — articulate it in a way that investors were interested in.

I was talking about blogging, young girls on the internet, fashion. I was a young girl. This was my first business and I was from Dallas. It was very challenging to get investors excited about it and raise money around it. Most of the comments were like, “I’ll ask my wife,” or “I’ll ask my girlfriend.”

We raised $300 million [from SoftBank] in 2021. I think it’s probably one of the largest investments, if not the largest, in the creator space. That was when the industry, to me, really arrived.

What’s your best advice for recognizing a window of opportunity and deciding to commit to pursuing it?

The time isn’t “always now” — it’s always yesterday. If you have a real problem, then other people have that problem too. Solve it now, because someone is going to eventually be able to solve it.

It’s who gets there fastest, spreads the word and builds that community around it best. And that’s with almost every decision as a founder — you move with urgency to win.

This interview has been edited and condensed for clarity.

Feature Image Credit: Amber Venz Box, 36, is the co-founder and president of influencer marketing company LTK. Source: LTK

By Tom Huddleston Jr.

Sourced from CNBC make it

Sourced from moneycontrol

Talent management firm Collective Artists Network, which represents Bollywood stars like Ranveer Singh, is focusing on the creator economy and has launched an app called Big Bang Social to expand creator economy.

The app will enable commerce, brand collaboration, upskilling and a peer-to-peer network for building a creator community. It has launched three e-commerce platforms on the app and plans to launch more such brands by creators going forward.

The app, which is made for creators, will let them build communities, connect with brand partners and also offer online training for better content creation. Through this, they expect creators to increase their earnings.

“Creator economy in the country has always been considered for marketing but there is more to it. Also, there are not many creators who are able to monetise their content,” said Vijay Subramaniam, Founder and Group CEO of Collective Artists Network.

He is looking to increase the revenue contribution coming from the creator economy segment from the current 35 percent to 50 percent in the next three years and create job opportunities for 100,000 creators in the country.

“We do not have two-three million creators who are making money. The number of creators being able to monetise their content in the country is small. The app will help us with strong distribution and reach,” Subramaniam added.

Globally, there are over 200 million creators and India is set to have the largest base of social media content creators with the figure crossing 100 million this year, according to a report by influencer marketing firm Zefmo. The report predicts that the ‘organised influencer marketing’ sector is expected to reach Rs 3,000 crore by 2024 and the revenue share of micro influencers is set to rise from 9 percent to 14 percent by 2024.

Big Bang Social that looks at creator economy is expected to scale Collective Artists Network’s overall business. “This business was over Rs 110 crore last year and we have a double digit market share in the influencer marketing space. We are looking at doubling that number to Rs 200-250 crore this year,” Subramaniam said.

Sourced from moneycontrol

The last big strikes reshaped the movie business and fuelled the rise of reality TV. The latest walkout likely will help turn established actors into TikTok stars — and vice versa.

The historic double strike that is paralyzing Hollywood could supercharge the creator economy, the wildly popular market of online influencers and video makers who increasingly rival industry titans for money, attention and cultural power.

The fast-growing cast of amateur and professional creators — chefs, comedians, models, musicians and many others — already attracts tens of millions of fans on platforms like YouTube and TikTok without the resources or support of more established mass media.

Now, as American film and TV production grinds to a halt, possibly for months, they stand at the centre of a major shift that could change entertainment and further blur the lines between traditional and digital fame.

Studios and producers are scrambling to recruit creators to help fill a content void, stoking tensions over scab work and changing styles of storytelling. But striking actors and writers are increasingly less reliant on Hollywood, too, experimenting with new ideas on Instagram, YouTube, TikTok and Twitch in ways that could net them lasting followings — if not steady pay checks — that go beyond traditional industry success.

The last Hollywood strike radically reshaped the media landscape by fuelling the rise of unscripted content, like documentary series and reality TV shows, that were cheaper to make and easier to mass-produce, such as “Cops” in the late ’80s and “The Celebrity Apprentice” in 2008.

“The Celebrity Apprentice” in 2005. (Courtesy of NBC-TV/Kobal/Shutterstock)

The ongoing walkout of tens of thousands of actors and writers, Hollywood’s first double strike in 63 years, could have similarly sweeping ripple effects, by potentially eroding Hollywood’s institutional advantages and elevating a new generation of stars.

Creators once saw online virality largely as a way to break into established TV or movie gigs. But some now make so much money selling sponsored content, merchandise or monthly subscriptions that traditional entertainment, with its uncertain paychecks and relevance, can seem like less of a draw.


The Creator Economy, text adorned with stars
(The Washington Post)

An upcoming series from The Washington Post examining the industry of online influence and its impact on American culture, media and power.


Hollywood’s business model has rarely looked so precarious, with box office sales, streamer subscriptions and advertising revenue all trending down. Striking actors and writers have also been enraged over industry practices, from high executive salaries and low residual payments to artificial intelligence techniques they worry could erase their jobs.

The changing entertainment scene

The online creator industry, on the other hand, is exploding. Goldman Sachs Research analysts said in April that the market would likely double in size over the next five years, from $250 billion today, thanks to increased spending from advertisers, viewers and tech platforms eager to capitalize on creators’ virality.

Streaming services now beat out cable and broadcast TV for U.S. viewership and account for more than 37 percent of all TV use nationwide, data from market researcher Nielsen show. But the biggest streamer last month wasn’t Netflix or Hulu, the data found; it was YouTube. More than 75 percent of American teenagers told Pew Research Center last year they watch the Google-owned video app every day.

Beyond Americans’ media consumption, YouTube and other platforms have lowered the barrier of entry for people wanting to make content themselves, from TikTok’s free video-editing tools to Twitch’s frenetic live streams. That creative competition has led to viral hits and marketing deals, turning what was once an online hobby into, for the lucky few, a million-dollar revenue stream.

Studios and streamers will likely try to fill out their release calendars with new deals for influencers’ content if the stoppage stretches out for months, said David Craig, a University of Southern California professor who researches creators and once worked as a film and TV producer.

Writers, actors and supporters march in front of Paramount Studios as part of the strike in New York. (Yana Paskova for The Washington Post)

Though some still see creators as “basically brand ambassadors for advertising … they’re in fact a much more broad and complex class of cultural producers that preoccupies vast swaths of people’s attention,” he said. Hollywood is still the king of long-form, premium storytelling, he said, but “if that goes away for the next year, there’s less incentive for people to stay on to see old libraries of content,” and the industry “may start to realize that the creators are the only ones left to do business with.”

The worry that creators could spy an opportunity to break into Hollywood’s turf has led some writers and actors to post warnings against undermining the strike on TikTok, where armies of fans have started chastising creators they believe are considering “scabbing” jobs. Franchesca Ramsey, a writer and actress who first gained popularity with her YouTube videos, said in a TikTok video earlier this month that any new deals with studios would be regarded as a betrayal.

“If you are a content creator or influencer with any aspirations to become an actor or a writer in the future, now is not the time to take a job because the rest of us are on strike,” she said. Doing so is “considered scabbing, and it will hurt your career.”

But many in the industry expect the strike will further nudge traditional entertainers into becoming creators themselves, allowing them to use social media to pursue and help fund independent projects, secure greater ownership of the product and profits, and show sides of their personality and creativity they hope will secure them audiences that outlast any one production.

Since the strikes began, Paul Scheer, an actor, writer and director known for his TV roles on “The League” and “Veep,” has invested more time into “FriendZone,” a Twitch channel where he and comedians like Rob Huebel tell jokes and perform skits for a sprawling digital audience.

When Scheer launched his first Twitch channel in 2020, after the pandemic froze Hollywood, it proved so successful that he and Huebel hosted a two-episode comedy game show there called “Celebrity Yard Sale” that won a sponsorship deal from Hyundai and became a genuine hit.

“We had over a million people watch each day for two hours. That was better than a lot of television,” he said in an interview. “I love that just because we’re in a moment where our industry is on pause, it doesn’t mean that we have to be on pause. We can make our own stuff.”

Several actors said they expect their social media accounts could become a lifeline now that traditional work has dried up. Brian Morabito, an actor in New York who has amassed over 600,000 TikTok followers with his comedy videos, said he plans to double down on merchandise sales and increase his output on TikTok and Instagram Reels during the strike.

Others are re-evaluating which business offers the best rewards. Sarah Pribis, a working actor for more than 15 years in New York who has built a dedicated audience on TikTok, said that while she still receives paid acting gigs, the money she makes as a creator has consistently beaten her acting income for the last six months.

“I’m seeing actors right now take to the internet, when they normally don’t make content, and it’s really powerful stuff,” she said. “Hopefully they find: ‘Oh hey, I have a voice here, maybe I can turn this into something that monetizes for me.’”

Adam Rose, a TikTok star with more than 4 million followers who’s been a member of the actors’ guild since he was 9, said he and other creators have already turned down gigs promoting TV shows and movies during the strike and found the change of pace refreshing. “I’m able to devote more time to online videos,” he said, “because I’m not on set and I’m not working on-site for auditions and self tapes.”

Other creators have called on their followers to see the unions as their allies. Reece Feldman, a TikTok creator who makes videos about TV and movies, said in a video Monday that his 2 million followers should show solidarity for the Writers Guild of America, which he one day hopes to join. “We have so much more in common with the 170,000 plus people currently striking than we do with any of the studio execs who are just hoarding millions,” he said.

TikTok and YouTube as alternatives

A decade ago, Hollywood regarded the online creator world as a sideshow, and after a disastrous attempt in the early 2010s to jam digital talent into typical acting and hosting roles, the two industries increasingly developed parallel spheres of influence, with their own stars and styles.

Pandemic-era changes to entertainment habits and creators’ growing influence, however, have led big Hollywood players to increasingly embrace the power of TikTok and YouTube. Many studios now build buzz for their movies and shows with creator partnerships and companion podcasts, like those HBO sponsored for “Succession” and “Game of Thrones.”

In 2021, a year after Netflix told shareholders in a letter that TikTok’s “astounding” growth showed “the fluidity of internet entertainment,” the company launched a short-lived, TikTok-like video feature called “Fast Laughs” and signed a multimillion-dollar deal with one of its biggest creators, Addison Rae. And last year, to drive online buzz, Scott Seiss, a TikToker who went viral for his sendups of an angry Ikea employee, showed up in a trailer for the Universal Pictures horror-comedy “Cocaine Bear.”

In an acknowledgment of the blurring lines between Hollywood and the web, the Screen Actors Guild-American Federation of Television and Radio Artists, known as SAG-AFTRA, allowed creators to join in 2021 through what was called the “influencer agreement.”

The union recently told its creators that they should reject any work promoting “struck” companies or content and report any new brand-sponsorship deals via an online form. Any nonunion influencers who worked for one of the targeted companies during the strike, it added, would not be admitted as members later on.

It’s unclear how many influencers have joined the union, which is negotiating with a studio trade group, the Alliance of Motion Picture and Television Producers, and not the online platforms where the creators make most of their cash. (The AMPTP represents more than 350 companies, including Amazon, whose founder, Jeff Bezos, owns The Washington Post and whose interim CEO, Patty Stonesifer, is a member of the Amazon board.)

But Duncan Crabtree-Ireland, SAG-AFTRA’s national executive director and chief negotiator, said the guild is working to use the strike to recruit more creators into its ranks for both this walkout and what he expects will be coming labour disputes with the giants of technology, including companies like Apple and Amazon, which have interests in both traditional entertainment and the creator economy.

Sidney Raskind, a creator known as “Sidneyraz” with 4 million TikTok followers, told influencers in a video on Tuesday that his union membership had helped him get health insurance and a pension plan and encouraged them to consider joining, even if they never wanted to be a traditional actor, because it would help “legitimize this profession in a way that you never thought possible.”

“We’re producers, we’re actors, we’re editors, we’re everything,” he said in an interview. “This is a great opportunity for internet influencers to actually be a part of something that’s bigger and better.”

Josh Cohen, the co-founder of Tubefilter, a media company focused on the creator economy, said the “us vs. them” mentality pitting Hollywood against digital creators has become less adversarial over the years, with both sides collaborating across different platforms in hopes of building audiences and cachet.

Liz Hannah, a prominent screenwriter and film producer, said many in the industry see Hollywood and the creator economy as not mutually exclusive. “One influences the other, and both are serving different purposes,” she said. “I don’t go on TikTok to watch ‘The Bear,’ but I do go on TikTok to watch people talk about ‘The Bear.’”

Creators generally offer a very different product from Hollywood, reliant less on highly produced stories than on colorful or inventive slices of life. But the content is nevertheless quite popular because it’s quick, free and easily available. It’s especially captivating for the young audiences the media has long fought to capture: The parental-control app Qustodio, which tracks user screen time, said in a report that children last year averaged nearly two hours a day on TikTok, plus another hour on YouTube.

Unlike major studio productions, most creators work by themselves or in small teams, and their funding generally comes in small instalments from ad deals, viewers or the platforms themselves. Many operate like independent media companies, planning and making content, tracking audience metrics and negotiating brand deals in hopes of competing in a crowded market.

Creators can make a fraction of what similar performers might earn on studio work, and many of them cannot afford to make content full time. Despite efforts in recent years to unionize, creators are generally treated as freelance contractors by tech companies, not entitled to benefits or health care.

Many creators burn out from the stress and demands of constant production. The relatively few very successful creators earn their money through paid partnerships with clothing lines, energy drinks and other companies, or through subscription platforms like Patreon and OnlyFans.

Strikes at this scale often leave a lasting impact on the industry. The last dual actors and writers walkout in 1960, when the industry’s biggest disrupter was TV, led to a deal negotiated by SAG president Ronald Reagan granting actors payments known as residuals when their movies were licensed for the small screen.

A portrait of former president Ronald Reagan, who was also a former president of SAG-AFTRA, hangs in the guild’s headquarters in Los Angeles. (Mario Tama/Getty Images)

The most recent big Hollywood strike, in 2008, poured rocket fuel into the once-niche genre of reality TV — and, in some ways, the creator economy itself. By swapping professional actors for real people, those productions helped lay the groundwork for influencers by showing how even those outside the realm of mainstream celebrity could still capture audiences and command fame.

Reality shows will, again, likely benefit from the strike: SAG-AFTRA has said crew members on those productions can keep working because they are governed by a separate contract, known as the Network Television Code, that covers talk shows, game shows, soap operas and other non-primetime TV.

But the strikes are in their early days, and it’s unclear how consumer viewing patterns will shift because today’s streaming-media landscape is quite different from the linear model that once dominated American screens.

The strikes also won’t zero out new content. Streamers have produced so many new movies and TV shows that have yet to be released, and they can re-market and reintroduce older titles to help fill the void. Productions filmed overseas, like Netflix’s hit “Squid Game” and HBO’s “House of the Dragon,” also won’t be stopped by the U.S.-based strike.

An exceptionally long strike, or boredom with the status quo, could further nudge viewers onto their phones. But Jonathan Handel, an entertainment and technology lawyer who has represented the actors’ guild, said he suspects concerns about the death of old-school TV and film are greatly exaggerated.

He thinks the creator economy, like the industry for video games, another dominant entertainment medium, won’t supplant Hollywood, but instead will fuel a new era of crossover successes, like the hit game “The Last of Us” that became a hit HBO show.

Crabtree-Ireland, SAG-AFTRA’s chief negotiator, said the guild sees the Hollywood and creator communities as not so different, and he expects the gap will only narrow.

“The talent and skill that’s required to be successful as a content creator is greater than ever,” he said in an interview. “Whether people are consuming content in more traditional forms or in newer formats, the key is that unique element of human creativity. Each [creative] is doing something special, whether it’s distributed by YouTube, TikTok, Reels or in a movie.”

Hollywood strikes and shutdown

What’s happening: Actors in the SAG-AFTRA union announced a decision to strike after negotiations over a new contract failed. They will join Hollywood writers, who have been on strike since early May. Here’s what we know and are trying to find out.

Why are Hollywood actors and writers on strike? The Screen Actors Guild and the Writers Guild of America say their demands are meant to protect their members as the entertainment industry is in an era of rapid change. The SAG strike could last for months, here are the rules about what actors can and can’t do.

What has the writers’ strike halted? With writers and actors both going on strike, the film industry will likely grind to a halt, alongside delays to movies and TV shows, though some are exempt. Here’s what to know about the strikes’ impacts on Hollywood. This is only the second time in history a joint strike has happened, with the last occurrence in 1960 when Ronald Reagan led SAG.

Feature Image Credit: Sean Scheidt for The Washington Post

By and Taylor Lorenz

Sourced from The Washington Post

By Grin

Brian Mechem, president and co-founder, GRIN

Word-of-mouth (WOM) marketing has been the most powerful way to drive behaviour and build a brand for decades. Even before mobile phones and social networks, the world’s most innovative brands found ways to create deep experiences with target audiences that would naturally share and discuss those experiences with others.

The rise of social media changed WOM marketing forever, expanding it from the real world to the digital world and giving brands an entirely new dimension to consider. In this new arena, consumers don’t have to limit sharing their experiences with those they encounter face-to-face, and now, they can instantly share their thoughts with thousands — even millions — of people.

Influencer marketing was born as a powerful new distribution engine for brands to harness. And today, this has evolved into the well-known and burgeoning creator economy.

In the creator economy, all the content in the current digital world is collected, created, distributed and monetized. Here, old-school mass advertising like radio and television moves to the backseat, and people — not companies — serve as consumers’ trusted sources of product information.

Across categories, brands become household names in their respective industries by leveraging the creator economy to form direct partnerships with high-performing content creators. Through these partnerships, brands overcome modern challenges by utilizing a team of storytellers to provide honest product endorsements with a human touch with which traditional, brand-controlled marketing can no longer compete.

Establishing partnerships with nano and micro creators stretches brand budgets

Even with the uncertain state of the economy and rising influencer rates, influencer marketing remains one of the most cost-effective strategies available to modern brands.

To bypass massive fees expected from macro and celebrity influencers, many brands successfully partner with nano and micro creators who love their products and are willing to accept free merchandise in exchange for content. These creators might have less reach and name recognition than their larger counterparts, but they almost always have stronger, more personal relationships with their followers.

Some brands have also started partnering with their most engaged customers, even if those customers don’t have a large audience or fit the traditional definition of an “influencer.” By sharing their experiences on social media, these diehard fans can offer valuable social proof and genuine product endorsements at virtually no cost.

Working across channels unlocks multiple consumer touchpoints

Imagine the average day for a brand’s target consumer. They start their day by scrolling TikTok as they enjoy their morning coffee. Afterward, they check their email and throw on a podcast before heading to work. On the way home, they tune into their favourite music streaming service and flip on the television while cooking dinner.

That scenario alone leaves the consumer with five opportunities to hear about a brand — not to mention the opportunities from other social media platforms they might visit throughout the day. And creator content is valuable for all of them.

TikTok and Instagram might be the hottest channels for influencer marketing, but successful brands know they need an omnichannel strategy to win in the creator economy. That means partnering with a variety of creators (podcasters, influencers, athletes, bloggers, performers, etc.) and investing in the tools necessary to keep their programs organized and scale their efforts.

In-person partnerships with local creators are boosting in-store foot traffic

Influencer marketing is for more than just DTC and e-commerce. The strategy also helps retail stores drive consumer awareness, create excitement and generate buzz around a new product launch.

Retail brands leverage creators to boost in-store traffic in several ways, starting with providing creators exclusive in-store discount opportunities to pass along to their followers. Retailers also partner with local creators and businesses to host giveaways, which require participants to visit a store to redeem prizes. Other options are hosting livestreams with creators from a brick-and-mortar store location to show followers the in-store experience or hosting an in-person meet-and-greet or pop-up event with creators at the store.

Authentic creator relationships open a direct line to target audiences

In the creator economy, authenticity is everything. Consumers can spot a fake endorsement from a mile away, and if they do, brands often lose them for good.

To avoid this, retailers and marketers focus on creators who use their products, love their brand and truly believe in both. These individuals will be the ones who can best share a retailer’s story and create compelling content that resonates with their target audience, improves brand sentiment and ultimately increases sales and conversions.

Brand-creator relationships aren’t just arms-length transactions. They are true partnerships operating as a way to reach consumers and a feedback channel for brands and products.

No one knows a creator’s audience better than the creator, and when they come to brands with advice on how it and its products can better resonate with their followers, it’s on brands to listen. Many brands have even taken this feedback to the next level and collaborated on new product launches like Gigi Hadid’s Reebok collection or Charli D’Amelio’s signature drink from Dunkin’.

Retailers’ success in the creator economy ultimately depends on the quality of their partnerships. By choosing brand-aligned creators that genuinely care about their mission, retailers set the foundation for a future of strong marketing campaigns and innovative collaborations.

By Grin

Sourced from ModernRetail

Sourced from YOURSTORY

The highlight of various panel discussions that took place at Brand Residency 2022 was that startups need good marketing with a strong story to stand out.

We live in an age of data and information abundance. There’s not a single industry that will not benefit from the use of data, so much that it is as integral to a business as oil is for an economy. And then there are social media platforms such as Facebook, Instagram, YouTube and Twitter, which are treasure troves for brands building an online presence as they help create awareness. So, the tools and resources are in place and good marketing is all about using them smartly, putting the consumers at the forefront.

This was the common thread of thought at Brand Residency 2022, an initiative of YourStory’s Brands of New India, where marketing executives and content creators threw light on what goes behind marketing a brand effectively. For direct-to-consumer (D2C) startups, good marketing means good business, because consumers tend to relate better to smart advertising and catchy jingles, backed by a good story. Ultimately, a good story is what will sell.

One size doesn’t fit all

Ayush Wadhwa, Founder and Creative Director, Owled Media, said the biggest mistake brands make is adopting the ‘one-size-fits-all’ approach. Especially on social media, several brands tend to post one video across platforms. “Short videos on Reels do better on Instagram while longer narratives perform better on YouTube. Brands need to understand their target group’s needs,” said Ayush, on the second day of Brand Residency 2022.

He also explained why advertising needs to be personalised. “Brands make the mistake of using the same messaging across all kinds of advertisements. It’s important for new-age brands to have the right message on different platforms and for each touch point,” he noted.

Ayush Wadhwa

Ayush Wadhwa, Founder, Owled Media

Manish Pandey, a brand consultant and a content creator, shares a similar sentiment. He spoke about how content creators are fuelling the growth of startups, which is why influencer marketing is a top marketing choice for startups. He said brand building is as important for creators as it is for startups. “Take Ranveer Allahbadia (BeerBiceps) for example. He started with fitness videos on YouTube and now runs his own talk show with guests like actor Shahid Kapoor and spiritual leader Sadhguru. There has to be give and take of knowledge through your content,” he said.

Neel Gogia, Co-founder, IPlix media, said, “Every brand has a different purpose. Every platform has a different purpose. We decode influencers and brands on various platforms based on the need and category required.”

Creating a narrative

Prafull Billore, Founder, MBA Chai wala, elaborated the importance of sharing the brand’s story with the customers. Speaking from first-hand experience, Prafull noted that the audience connected better with the brand when they heard personal stories. “Share stories of your entrepreneurial journey with the world. You will be surprised to see how everyone loves passionate storytelling,” he advised young founders.

Prafull Billore of MBA Chai Wala

Prafull Billore, Founder, MBA Chai Wala

He also emphasised the importance of building a consistent network. “Entrepreneurs must remain in touch with old friends and acquaintances. This will not only help strengthen your network but will also show that the brand is true to its roots,” he said.

Anubhav Dubey, Founder, Chai Sutta Bar, said, “It’s the story that connects more with users when someone starts a new business.”

Consumer-focused and personalised marketing is the way to go. This is the secret sauce to building a successful D2C brand.

Edited by Swetha Kannan

Sourced from YOURSTORY

Sourced from Entrepreneur

Alfonso Cobo, founder of Unfold, outlines trends and opportunities for digital creators.

Who are you and what is your business?

I am Alfonso Cobo, founder of Unfold, a social storytelling app that lets you create photo templates and bio sites for selling anything.

What are the biggest trends you’re seeing in the creator economy?

The biggest trend we’re seeing is creators diversifying their income streams — users who sell products are starting to explore content, content creators are selling physical goods, and creators are dipping their toes into Web3. There’s an emphasis on becoming less reliant on any one platform, while also setting up passive income streams that bring in steady revenue so the creators have more space and stability to focus on their craft. Most influencers currently still rely on brand deals, and most are looking to diversify.

What are the top trends in social and digital selling?

Social commerce will soon exceed social advertising — it will quickly grow to be a huge chunk of global ecommerce. Universally, we’re seeing that brands and businesses who embrace social selling are seeing great returns and are also realizing that it’s an opportunity to build a stronger relationship directly with the consumer.

We’re creating and seeing smarter monetization tools, and the real key is that there are so many touchpoints and platforms, you want to remove friction points along the way. Bio Sites are a huge trend in social selling because they provide creators with a unified ecommerce link that they can share across their platforms and communities. And coming next, sellers are looking at Web3 as a way to drive new revenue channels, more transparent business models and higher engaged communities.

What are the biggest challenges that creators are facing?

Creators have to manage a presence on a bunch of different platforms because there is no central hub that aggregates all the tools and data that they need in one place. Each tool and platform in the market has its own niche and goes deep into a specific use case or vertical.

This also makes it challenging for creators to truly own and monetize their audiences in a way that is platform agnostic when they may have very different followings or content styles from Instagram to TikTok.

Smart creators understand that their audience is made up of different types of fans with different levels of passion and willingness to pay, but this requires high levels of focus, providing different levels of offerings like editions, 1/1s, and auction mechanisms to meet fans where they are and convert them from casual and active fans to super fans.

Unfold became a part of Squarespace in 2019. What insights do you have for entrepreneurs about integrating into a bigger ecosystem?

I asked myself three questions about becoming part of their ecosystem, and all of the answers were yes:

  1. Do you provide something with a similar goal but in a different lane? We found that what Squarespace provides for online, Unfold provides on social. So yes.

  2. Do your customers’ goals overlap? There is a lot of overlap within our customers’ goals, which is to start creating and monetizing their brands with the highest quality design alignment across all digital selling. So yes.

  3. Will we approach integration thoughtfully and patiently? We gave ourselves a few months to watch our products grow independently, which illuminated ways to build new releases that were completely complementary. Around that time, Squarespace’s mission was evolving to provide creators with everything to sell anything, and because we gave ourselves a discovery period our natural role presented itself – providing ways to monetize social in the broader ecosystem.

What’s next for you?

Monetization tools will continue to be a priority for us as we expand how our customers can set up and test new revenue streams. We’ll continue to release products that help creators to tell their stories in a consistently beautiful way across all social platforms – this consistency across platforms and channels will help build long-term customers. And creators want the ability to roll out multiple Bio Sites so that they can have flexibility to add more link-in-bios as they acquire new audiences. We want to empower creators to be successful in telling their story exactly the way they want to, and we’ll be focusing on new video content creation and monetization tools to help them do that.

Feature Image Credit: Unfold

Sourced from Entrepreneur