What marketers can learn from the booming creator economy

The rise and significance of the creator economy

The creator economy has grown into such a vibrant and thriving part of the online world.

I was stunned when Goldman Sachs released its forecast announcing that the creator economy is poised to increase to a $480-billion market by 2027 up from $250 million. As marketers, and as business leaders, we simply cannot ignore it.

We must embrace the creator economy as part of our content creation strategies.

But how can we best harness the creator economy? What lessons can we learn from content creators, influencers and other internet icons?

The creator economy is not new. This vast online ecosystem of podcasters, bloggers, YouTubers and other types of publishers began to take form in the late 1990s and early 2000s with the increase of user-generated content. The creation of content and its monetisation online then really took off in the past decade or so with the rise of video-sharing platforms like Google's YouTube and social media sites such as TikTok or Meta's Instagram.

The evolution of smartphones and digital technologies have also significantly facilitated content creation and turbo charged the creator economy. A whole new generation of creatives are developing professional quality content using their smartphones, to reinvent industries and art forms. It’s given everyone the opportunity to become a true internet celebrity.

It’s hard to figure out exactly how many people are part of the creator economy. (50 million, according to Goldman Sachs. 120 million, per Citi Group.) But one thing is sure: these people have managed to democratise content and at the same time have succeeded in creating a whole new way of capturing consumers’ attention.

At Samsung Electronics, we think it’s important to empower the creator economy with the right tools. As a marketer, I am also a deep believer that we can learn a lot from the creator economy and apply some of its principles to help elevate our strategies. From cultivating authenticity and fostering community engagement to experimenting with flexible creative tools, the creator economy offers insights that can transform marketing approaches across industries.

Lessons in authenticity and credibility

Authentic content creators, particularly influencers, have a unique credibility with their followers, who rely on them for their trustworthy advice and product recommendations and endorsements. Influencers’ endorsements, when perceived as genuine, can significantly shape followers’ purchasing decisions.

This is especially true for "Zalpha" ie Gen Z (12-27 years old) and Gen Alpha (up to 11 years old) consumers, who spend more time on social media. They identify closely with influencers and are eager to interact with them, reinforcing the credibility of content creators themselves. It also leads to strong connections and ultimately translates into deeper trust.

Marketers who understand this dynamic can leverage it to their advantage by creating content that mirrors this authenticity.

And by doing so, they can also build a loyal audience base that values their brand and trusts their messaging.

Build the community, engage the audience

Content creators are brilliant when it comes to engaging with their audience on a personal level, encouraging interaction, and valuing feedback with the communities they’ve established. This personal touch and community engagement are what set them apart.

For marketers, gaining an in-depth understanding of their communities is crucial, particularly prior to launching a campaign, to ensure there’s a synergy between a community’s values and the brand’s objectives and aspirations. They can enhance the impact of their marketing efforts and make sure they resonate with the community.

Agility meets content creation

This approach emphasises flexibility in strategy and execution, which means rapid adaptation to changing trends and audience preferences. By experimenting with content formats and platforms, creators produce more targeted and effective content.

Marketers can embrace this mindset and also be ready to pivot quickly when new tools emerge, to stay ahead of a fast-paced digital landscape. Embracing agile content creation can lead to innovative marketing strategies that resonate with audiences and drive engagement.

The power of partnerships

Influencers are masters at creating partnerships, and as marketers, we can tap into their creative storytelling and audience insights to co-create content that not only resonates but also amplifies the desired message, leading to increased engagement and a stronger brand-audience relationship.

In the fast-moving world of digital marketing, the creator economy is a goldmine of insights to step up our game as leaders.

With technology constantly reshaping the scene, I’m convinced that not just marketers but all executives who tap into these lessons are setting themselves up for success.

It’s essential to keep pace with the latest trends to avoid falling behind, and I strongly believe that companies and brands that adopt the innovative mindset of content creators, along with the forward-thinking approach of Gen Z leaders, can maintain their edge in this ultra competitive environment.