The creator economy was valued at approximately $16.4 billion in 2022, a 19% increase from 2021. In order to capitalize upon that growth in 2023, we have put together a list of the top trends that all creators need to be looking at and utilizing within the next 12 months.
Authenticity
This isn't just a buzzword, it really does pay to “be real”. There is a real thirst from audiences to pull back the curtain and show who they really are. This trend has definitely changed from just “ nice to have” to “essential” for any successful content.
Engagement rates are king!
As marketers have learned, subscriber and follower counts are important but engagement rates are even more so. Many creators with smaller followings often have higher engagement rates. This means we are going to see the rise of niche communities and subcultures with lower follower counts making waves. All the major platforms are seeing the importance of this, as demonstrated by Instagram's most recent new feature Notes, which allows users to create status updates that their followers reply to via direct messages.
Rising need for curation
Most of us can admit to feeling a little overwhelmed by the surplus of content on streaming services these days. When you also add to the mix books, podcasts, and social content it becomes mind-bending. Creators need to realize that audiences want to know they’re spending their time wisely. This is what social media platforms aim to do with algorithmically chosen content. Perhaps though, creators can be the human equivalent of an algorithm. They can provide curated recommendations for an audience that loves them, aligns with their tastes, and wants to be close to them by consuming what they consume.
Selling directly through short-form video
TikTok’s dominance over the past three years has shown there’s high demand for short-form content. However, monetizing this kind of content has always been a bit of a sticking point. That said, this year, e-commerce platforms Klarna and Shopify rolled out programs that connect creators to merchants directly. There is a real buzz that short-form videos will be an incredible conversion tool for consumerism in 2023, so be sure to get involved.