Creator economy for micro and Nano influencers and innovations: for 2023 part 1

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creator economy for 2023
brands are looking to work with micro and Nano influencers who have a follower count between 1k to 50k rather than spending big bucks on a big influencer to grow further.

For the creator economy, global creator commerce company ‘Whalar’ announced a first-of-its-kind full funnel measurement solution. Some of today’s most forward-thinking platforms vid mob, tubular labs, Nielsen, GWI, Netbase quid, element human, etc. also provide full funnel measurement solutions. The creator industry has formulas and proprietary metrics which give to the brand a potentially flawed direction in measuring success.

 The creator’s content needs to be measured in the same way as all media measures. To scale and measure any type of creator-led campaign effectively this full-funnel solution helps brands to strengthen each partner to give brands the right tools. The release says, engaging communities with the creator economy and helping brands to be more confident in reaching, leads to more impactful business value.

 Gaz Alushi, president of measurement and analytics, Whalar, says marketers have to measure what matters, and the creator economy is no different. Measurement needs to grow and expand the creator industry for understanding its impact and effectiveness. These solutions allow marketers to trust what is being measured and what matters. These developments and innovations will boost the creator economy in many ways.

 75 percent of markets are using the creator economy. In the next three years, these numbers are likely to be as high as 86 percent. The audience base will seek outside of the media platforms because creators are tired of competing with the fickle social media algorithms in the days ahead. If something goes wrong they want to own their content without any worry of losing their community overnight. 

Influencer marketing:

Influencer marketing is expected to reach $22.2 billion by 2025, as an industry. Socxo, CMO Ajit Narayan, says trends and new tech are emerging as we speak. This is very important for brands to stay nimble to adopt, use and experiment with whatever comes their way. In today’s media world brands are looking to work with micro and Nano influencers who have a follower count between 1k to 50k rather than spending big bucks on a big influencer to grow further. As a brand, this is a very important tool to keep in mind consumers or audiences. For brands, it is more affordable and trustworthy because of smaller influencers with a high engagement and loyal follower base, especially smaller ones and mid-sized influencers. Due to influencer marketing, it becomes easy for brands to address consumers’ queries and complaints. In influencer marketing transparency and authenticity become a very important part of it.  

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