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Jul 18, 2022
Dependable creator partners show their value during periods of heightened uncertainty

The times of uncertainty can be difficult for all businesses to negotiate, but the times of uncertainty are when solid and reliable partners demonstrate their worth. for creators as well as independent publishing, it'll become increasingly clear in the months ahead of which tools and platforms are best equipped to support their future success, and which might make their business vulnerable positions.

The economic outlook for the world appears to be becoming more uncertain, and entrepreneurs should anticipate to encounter challenges in the coming year as events unfold. Consumer budgets are shrinking - thanks to runaway inflation as well as the repercussions of war in Europe as well as other causes revenue-related challenges are now inevitable for many companies.

One of the benefits for businesses who are monetizing their audience through membership models is that, while membership revenue isn't impervious to the impact of general economic trends however, it's generally more protected than the revenue generated through other avenues like sponsorships, advertisements, and commerce. It's just assuming, that creators have selected trustworthy technology partners who have stable and sustainable companies of their own that will allow them to maneuver through tricky circumstances effectively.

In the past, I've made arguments that anyone who is a creator or an independent publisher who wants to create a sustainable long-term subscription or membership-based business must think carefully when selecting the right tools for monetization and tech. A tendency towards the "cheapest" choice is normal for publishers, however the creators I work with are often seeking to switch to different platforms and tools because their existing partners have either fallen short of expectations and have not provided enough space for growth in terms of the features and functionality they offer, or provided poor support and advice.

The frustrations are worse during tough economic periods. As audience demands, market variables and economic variables change rapidly around them, the last factor creators need to be concerned about is the monetization tools holding them back. Poor technology, lost opportunities to earn revenue and the operational rigors are annoying at the best of times However, during times of instability their impact can quickly compound to the point that they pose a significant risk to creator businesses.

It's more crucial more than ever before that creator partners have created strong and stable businesses of their own, and will not leave their customers hanging when they're forced to shift their attention or product focus to chase revenue or different potential.

My advice to any creator company that is worried about the current economic time is to stay basic and concentrate on the essentials. Specifically:

  • Deliver high-value, differentiated content on a consistent basis.
  • Ensure a seamless product and user experience , which makes paying for and accessing the content as simple as it is.

In terms of technology and monetization tools, I would urge creators to scrutinize potential partners closer than ever in order to determine if they've got clearly defined philosophies and perspectives that are backed by proven product and experience, and will stick to subscription and membership models for long term.

Creators who continue to satisfy the needs and expectations of their subscribers and audiences and who have the technological and other tools that allow the ability to do this they should be in position to not just be able to navigate the difficult economic environment but also emerge from the other end from strong positions.