Online Creator Economy

Online Creator Economy

The best thing that has happened to the people of the 21st century is the rapid advancement of the internet. The impact is evident – an easy way to see this change is by observing the changes in your day-to-day routine. For example, compare the process of shopping today vs how it used to be ten years ago. People used to plan the entire process, take out time from their busy schedule, and evaluate where they could find all the things they wanted to buy. In addition, returning and/or replacing the product would be cumbersome and exhausting as it would involve traveling all the way back and searching for another comparable item. The traveling cost, time, energy, and much more that used to be put into processes as simple as shopping have come down significantly compared to just 10 years ago.

However, times have changed and the whole dynamic of operations of several fields has changed substantially. We live in the 21st century where people have access to the whole shopping mall or the supermarket at the tips of their fingers. The ease of buying, selling, exchanging, and returning products has increased manifold, with there even being an option for products for return/exchange to be picked up directly from your doorstep with just a few clicks. Ultimately, it boils down to making good use of the technology that we have at hand today.

Make good use of the technology”, is probably one of the most important points that the people living in the 21st century must understand. The reason I say this is because a simple gadget like a mobile phone or a tablet in today’s time has a lot of capacity to help the users in multiple ways. People can connect with a click, share crucial information in seconds, and earn money. 

Yes, you read that right, people can earn a good amount of money using the online resources they have. In fact, millions of people across the globe are doing it by creating quality content. If we were to talk about the creator economy ten years ago, nobody knew about it probably. However, the term ‘creator economy’ is the talk of the town in 2022. The ecosystem that combines the online creators and the economy is known as the creator economy. 

Did you know?

A report by Financial Express states that the creator economy is 50 billion strong. This means that more than 50 billion people across the world are creating content and earning a good amount of money. Some creators are influencers, and surprisingly, the influencer economy is assumed to be 104 billion dollars strong. It won’t be wrong to say that the creator economy is one of the largest economies in the world and is expected to grow even more with time.

Evolution of the Creator Economy

Excellent Technology- The advancements in technology observed in the last few years have been incredible. What gave the opportunity to the creators to explore their various sides was the good quality camera, voice recorders, good storage capacity, and much more at an affordable price.

Amazing Storytellers- It goes without saying that content creation is all about storytelling. The millions of creators sure deserve applause for picking up good stories and portraying them in multiple formats. The urge to narrate stories is probably what helped the creator economy boom rapidly.

Name & Fame- The online creator economy evolved with the willingness of people to create content and probably earn fame. They started by making long videos on the internet to get famous, or to earn money. Gradually, the opportunities kept on increasing. People started creating content in various formats and genres. From short videos to detailed ones, you can find almost all sorts of content on the internet. 

Brand Collaborations– The marketing industry realized the potential of these creators, they observed that it was easier to reach out to the public with the help of these creators. They saw their connection with the audience as a great way to promote and market their products or services. 

Influencer Marketing/Ads- Then started the culture of paid ads, influencer marketing, etc. Creators were attracted to such patterns largely, and they started creating content in bulk. And therefore, the creator economy saw a boom. Creators started earning millions of dollars, they succeeded in having a huge subscriber base or follower base of millions of people.

Did you know?

 5,0,000 Instagrammers have more than 1,00,000 followers! 22,000 YouTube creators have more than 10,00,000 subscribers. Yes, this is the potential of the online creator economy.

The Point of Saturation

Despite all the name, fame, and money involved, the economy of YouTubers and Instagrammers, and various other types of content creators has now reached a saturation point. In simple words, there is not much scope left for a beginner to gain success, name, fame, or money.  There are multiple reasons for this to happen. The technology has created tools that are now creating hindrance in the ways of these content creators. 

1- Ad-blockers- A massive income of the creators used to come from the ads they used to promote on their platforms, in between their videos, etc. However, half of the consumers have now started using ad-blockers. Yes, the technology moves thousands of steps ahead of time. There are various tools that help the consumers in saving time by simply avoiding the ads. 

2- Lesser Investments- Covid was also a major reason why the creator economy observed a major fall in the past few months or years. All of us are quite familiar with the situation and we know how bad was it. Most companies did not invest in ad campaigns due to their own reasons. But sure, the creator economy has reached a saturation point now. 

Creating and Selling Online Courses to the Rescue

I am sure a gazillion of questions might be striking you right now. Is there no way to reach out to people? Will I never be able to tell my story, showcase my skills, or share my knowledge? Will I never be able to build a community?

I do have an answer to all these questions. ‘When one door closes, ten other magical doors open’. Do not worry, if you are someone with any of the above-mentioned questions in mind or  more, here is some good news for you. The next new is ‘Creating and Selling Online Courses’. The course selling market is expanding internationally. The surprising part is that is expanding at a much higher speed than no one ever imagined.

Would you believe: The E-learning market was evaluated to be $107 Billion in 2015. Within the next years i.e. 2018, its worth reached $190 Billion. And the worth is believed to cross $300 Billion by the year 2025. 

In short, even when a part of the creator economy is facing saturation, another part of the creator economy is booming to another level. Yes, you read that right. The online course creator economy or community is expanding with each passing day. Along with giving the world numerous successful entrepreneurs, the creator economy or community is also helping people in helping other people with their knowledge. 

There are uncountable benefits of creating and selling an online course. Here is a detailed blog to help you understand the same, do click here to read and expand your knowledge.

Here’s a video that will help you understand the benefits of creating and selling online courses better-

Scope of Course Selling

More than 3,00,000 people have created their own online courses and are earning millions from them. Believe it or not, online courses are the future of learning as the preferences or the learning requirements of the learners have evolved largely. Be it cooking or advanced questions of Engineering, learners prefer to master their field by enrolling in online courses. It helps them in-

1- Saving time & money

2- Being more productive

3- Flexible learning

4- Self-paced learning

5- Level-based learning, and more.

Similarly, creating and selling online courses has multiple benefits for the course creators. It helps them in-
1-Teaching from any part of the world

2- Ensuring a passive source of income

3- Reaching a wider range of learners

4- Starting with zero investments

5- Easy management

Getting Started with Course Selling

How can you create your own online course is your next question, right? Don’t worry, I have got you covered. Creating an online course is extremely simple, all you need to do is choose the right platform to begin your journey with. Teachmore helps aspiring course creators in beginning their journey from scratch. 

Here is a gist of what your journey as an online course creator would look like with Teachmore-

1- Login to your Teachmore account

2- A dedicated professional will support you to create and design your own app & website.

3- Add your course content, price it according to you, and VOILA, your course is ready to sell.

In short, the creators need no prior technical knowledge to kick start their journey. From helping the creators with the course design to launching their own online course and website, Teachmore supports the creators at every step required. 

 So what are you waiting for? Begin your online course selling journey today. Don’t worry, It’s easy with Teachmore.

 

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