If I told you a decade ago that a spin bike would be a social community, you would be very happy. But the peloton is definitely: it’s a spin bike in a social community where trainers are influential. Peloton is an example of how social is being integrated into every aspect of the customer experience in the growing digital world. Whether it’s considering a new restaurant to check out, watch a movie or buy a product, most people look at the reviews before making a final decision.
They want social proof as an indicator of quality and relevance. As influencers feel a natural producer and social consumer journey of this aspiration for social legitimacy, creators have become a necessary source of legitimacy and trust. Indeed, social verification is built on social platforms, so it’s an important element of how we gain relevance online – and the deeper integration of social leads to dynamic changes between brands and digital creators.
Brand sponsorships are the holy grail for creators to expect to monetize their online influence. According to a report by iMarket, brand partnerships are still the number one source of revenue for most digital manufacturers. However, digital creators have many more monetization options, thanks to patronage, authorized platforms, paid content platforms, and platform revenue sharing, which makes it easier to make a living without relying so much on brand sponsorship.
As a result, manufacturers are diversifying their revenue streams to allow some creators to be more selective about the brands they work with. What’s more, producers don’t rely on just one channel or one form of revenue. YouTube makers probably have the most diversified earnings, often combining brand sponsorships, subscription models, approved deals, tipping / grants, their branded product lines, and revenue sharing. However, it should be noted that not all monetization options apply to each creator. But living as a digital creator with more options to choose from is more accessible than ever. However, it should be noted that not all monetization options apply to each creator. But living as a digital creator with more options to choose from is more accessible than ever.