Did you know that over 50 million people consider themselves creators? In fact, Influencer Marketing Hub reported that not only do people identify themselves as creators in the traditional sense, but they’re also making money. According to the report, 43% of surveyed creators made over $50,000 annually from monetizing their passions online. If one thing’s for sure, it’s that the pandemic forced people to get creative with making a living. Many have turned to making money online from their skills through various avenues. Needless to say, turning passion into profit is working well for many. And the creator economy, as the phenomenon is dubbed, is only going to grow from here.
Defining the creator economy
Before we get into how you can enter the creator economy in 2023, let’s define the buzz term first.
Simply put, the creator economy is a sector of business where those creators make a living online from monetizing their presence, passions, and talent. From musicians who create an online fanbase and earn money from music streams (vs. a traditional record deal) to influencers who monetize their online presence through sponsored content, there are many ways to enter the creator economy and make a consistent living from it.
Ways to join the creator economy in 2023
If you have a skill set or talent that you’re passionate about, chances are you can find a way to make serious money. Keep reading for some ways to join creator economy if you’re considering betting on yourself in the new year.
We’ve got you covered. Creating an online course can be daunting, but we’ve created an actionable course creator’s to-do list so you don’t miss a beat.
1. Create and sell a course, of course
If you’re reading this, you’re probably already familiar with online course creation. You may already have a course available through Teachable. Teaching people online about something you’re an expert in is one of the best ways to make money online from your passions. Don’t underestimate how eager someone may be to learn something new that comes second nature to you. Click here to learn more about the endless possibilities of teaching online.
2. Launch a blog
Blogging is one of the oldest profitable creator mediums. However, it’s not entirely that old (the oldest recognized blog dates back to 1994 and the first blogging platform, Open Diary, launched in 1998). It’s one of the more common ways to enter the creator economy. Launch a blog that features content about topics that you’re passionate about within your niche.
There are many ways to monetize a blog, including publishing ads with platforms such as Google Adsense, sponsored posts, and affiliate marketing. Like most platforms, making money from blogging won’t come overnight. You’ll have to post high-quality content consistently to get traffic and eventually be approved for advertising and affiliate networks. It’ll also take time to get the attention of brands willing to pay you to feature them in your content. However, the multiple revenue streams that can come from blogging make it worthwhile way to enter the creator economy.
3. Publish an e-book
Long gone are the days when you have to find a publishing house to get your book idea off the ground. You also no longer need to write an excruciatingly long body of work to be respected as an author. If you have an expertise or skill that you can put into a book, using a self-publishing platform such as Kindle Direct Publishing is a great way to teach people what you know and monetize in the process.
4. Create a newsletter
If running a blog or writing an e-book isn’t quite right for you, another great route is launching a newsletter. Traditionally newsletters were looked at as a means to support an online community such as a blog, but more and more creators are using newsletters to generate income on their own.
For starters, you can incorporate affiliate links into your newsletter. This way you can promote commissionable products or services within your niche. Additionally, you can create a subscription-based newsletter with platforms such as Substack to generate income from your newsletter alone. Tipping platforms such as Buy Me A Coffee can generate a profit in your newsletter so people can show their appreciation through small donations.
5. Bring your talents to YouTube or TikTok
YouTube is the second largest search engine behind Google. TikTok is one of the fastest-growing social media platforms. If you’re talented with a camera or are passionate about something that you can teach or entertain people with, you should seriously consider venturing into these two powerful platforms.
Specifically, there’s a lot of potential to make money through Google Adsense (once your channel meets monetization requirements). There are also sponsored videos and affiliate linking to products and services. TikTok also offers a ton of earning potential through sponsorships and affiliate marketing, but also through TikTok’s Creator Fund, which essentially pays you to create engaging content on the platform.
No matter where you are right now, there’s still time to find your place in the creator economy. We encourage you to share your skills and explore that in the new year.