There is a relatively new term being bandied about in digital marketing circles: creator economy. The creator economy describes that segment of the working population that generates income by creating and distributing original content. And according to all of our research, it is playing an increasingly larger role in defining digital marketing.
Here at Webtek, we offer digital marketing in Utah and across the United States. Creating and distributing content is among our services. But we approach digital marketing in a more conventional sense. Those making big money in the creative economy are doing things differently. They are more influencers than traditional digital marketers.
Digital Content and Revenue
A recent Global Data report defines the creator economy as “an industry in which creators can generate revenue from their content, facilitated by digital platforms.” That same report targets Gen Z as both the main suppliers and consumers of digital content and revenue. The report goes on to discuss short-form platforms like TikTok, Instagram Reels, and YouTube Shorts, as venues for this new digital content.
In short, short-form content is what consumers want. They are eating it up at unprecedented rates. A good Gen Z influencer capable of putting out quality content on a regular basis can earn millions. In its report, Global Data cited Charli D’Amelio as an example. She earns an estimated $17.5 million annually.
What It Means to Traditional Marketers
If Gen Z influencers can make millions creating and distributing digital content, what does that mean for established companies? More importantly, what does it mean to traditional digital marketers? It means that tapping into this generation requires a greater focus on short-form content and the platforms on which such content can be found.
Our main focus is digital marketing in Utah. Some of our customers undoubtedly target Gen Z. The question is, how? Observing the creator economy suggests producing more short-form content – specifically in the form of videos and memes. Gen Z is a generation raised on technology. They were raised on the on-demand economy.
Expecting Gen Z consumers to spend 8-10 minutes reading a 2,000-word post is unreasonable. They will scan the piece, at best. Many won’t even give it that much attention. But give them a 2-minute video to watch and they will gladly oblige.
This isn’t to say that long-form digital marketing is dead. It’s not. Long-form content is still useful for targeting older millennials as well as Gen X and the baby boomers. But as time goes on, long-form content will be less important while short-form content begins to dominate.
Digital Marketing Continues to Evolve
Seeing the creator economy emerge is strong evidence that digital marketing continues to evolve. Content creators monetizing their original material are marketing for themselves. More importantly, they are doing so successfully. They are creating content users want. They are placing that content where users can find it.
Any organization offering digital marketing services needs to pay attention to the creator economy. Just as the on-demand economy gave rise to juggernauts like Uber and Grubhub, the creator economy he’s going to crown its winners. Its losers will be left by the wayside.
As the evolution continues, Webtek Digital Marketing will adapt with it. We intend to be involved in digital marketing in Utah for many years to come. That undoubtedly means adapting what we do to keep up with how information is distributed online.
For more information about our services, give us a call or use the contact page here on our website. We are standing by to help you reach your audience.
