The creator economy is reshaping how businesses engage with consumers, so much so that it’s disrupted many more traditional marketing practices. Not that the tried-and-true approaches no longer work. Email marketing still provides an impressive ROI, seeing an average return of $36 for every $1 spent. The same can be said for mailers, with an average ROI of 43% for a direct mail campaign.
However, content from the creator economy has become an extremely powerful marketing tool. It’s garnered the attention of millions and turned average, everyday people (i.e., creators) into influential figures, making brand-creator partnerships invaluable for businesses, large and small alike.
After all, many creators have built loyal followings — often niche followings but fervent ones that fully trust their recommendations in products and services. A strategic collaboration can help small businesses tap into whatever influence these creators hold and reach a customer base that wouldn’t otherwise be available. The growth potential is astronomical.
While not a small business, Dunkin’ experienced a 57% increase in app downloads after establishing a partnership with TikTok star Charli D’Amelio. Tom’s of Maine expanded its reach when collaborating with “micro-influencers,” who asked their followers to create content featuring the brand’s products. The results: 4.4 million potential customers viewed the content in the first three months.
Just imagine what that kind of reach could do for a small business. It would certainly come with more than a few award plaques. For one, it can increase brand awareness. It could also provide more credibility. Then, there’s the matter of social commerce, as an increasing number of consumers are using social media to buy products. Provide a link, and the creator can embed it in their post, making the purchase process near frictionless.
Benefits for Small Business
1. Brand Awareness
A shoutout or a product review from a creator can significantly boost your brand’s visibility. More people get to know about your business in a relatable and authentic manner.
2. Customer Trust
People trust creators; a creator’s endorsement can translate to trust in your brand. This trust could increase customer loyalty and even some award plaques celebrating your business achievements.
3. Sales and Traffic
A creator’s mention can drive traffic to your website or store and potentially increase sales.
Collaborating with creators can be a more affordable marketing strategy than traditional advertising channels.
Steps to Engage with Creators
Look for creators who resonate with your brand values and have an audience that matches your target demographic.
2. Reach Out
Once you identify suitable creators, contact them. Explain why a collaboration could be beneficial for both parties.
3. Set Clear Goals
Determine what you aim to achieve from the collaboration. Is it brand awareness, increased traffic, or sales? Having clear goals will help measure the success of the collaboration.
4. Allow Creativity
Creators know their audience well. Allow them the creative freedom to present your brand in a way that will resonate with their followers.
5. Measure and Analyze
Use metrics to evaluate the performance of the collaboration. Analyze what worked and didn’t, and use these insights for future collaborations.
6. Build Long-term Relationships
If a collaboration is successful, consider forming a long-term relationship with the creator. This could lead to more authentic engagements and a consistent brand message.
Keeping it Real
Authenticity is key in the creator economy. An authentic collaboration where the creator genuinely appreciates your product or service will resonate better with the audience. Avoid forced collaborations, as audiences can easily discern insincere endorsements that could harm your brand reputation.
The creator economy is an exciting domain with much promise for small business owners. With a well-thought-out strategy, small businesses can leverage creator collaborations for meaningful engagement, increased brand awareness, and tangible growth. The road might lead to new customers, sustained business growth and a display of award plaques acknowledging your business milestones.
Engaging with the creator economy is about building genuine relationships that benefit both your brand and the creators, leading to a win-win scenario. So, take the leap, explore collaborations with creators, and propel your small business into a future of enhanced visibility and success.
The journey into the creator economy may seem like uncharted territory, but the right approach could be a game-changing move for your small business.