Marketing agencies are the ones making the most money in this creator economy.
It can be a single-person agency or employ other people and it typically varies between 2–10 depending on how many clients they can land.
The most profitable customers are:
- Businesses in a cash-rich industry like ecom, fintech, healthcare, etc.
- Other successful content creators/course sellers.
Most popular services offered:
- Email marketing — Performance-based fees
- Running paid ads — Performance-based fees
- Content marketing for businesses — writing blog posts, case studies, thought leadership content, email sequences to onboard and retain customers, etc.
There is more money to be made in helping other people create content than you actually creating content.
You can either start a single-person agency and do a specific kind of marketing (email, paid ads, etc) or you can also target these marketing agencies alone to make a shit ton of money.
Most of these agencies require a consistent flow of leads to make money. You can start a lead generation agency that caters to specific marketing agencies. Use a platform like Clutch to filter out agencies based on your location and the type of service they provide.
There are a lot of people making $10K-$25K per month on average just through these Lead-Generation agencies servicing other marketing agencies.
Can you answer these 5 questions 99% of creators struggle to answer?
If you want to stand out in a cesspool of million other “content creators” — you need to create a strong story about yourself in your readers’ minds.
Answer these questions to radically differentiate yourself from other “wannabes”. Most people can’t.
- WHAT is your category?
- HOW are you different?
- WHO are your customers?
- WHEN do they need you?
- WHY are you important?
Once you figure out the answers, do the exercise mentioned below.
Source: Zag- Strategy for high-performance brands
The best exercise for a freelancer or a content creator.
Can you make people remember who you are and what you do in less than 10 words?
If not, you have to go back to the drawing board.
This is your 15-second elevator pitch and would come in really handy in a lot of situations like when you are reaching out to prospects.
And it makes it so easy for other people to refer you to their friends. Because with this mission statement — you essentially control what others should say about you.
No ambiguity about who you are in the minds of people — when they think about you.
If you lust after those making a killing with their digital products you need to figure out this one thing before everything else.
A good story about your product. And a good story has three things:
- It appeals to people’s rational and emotional sides.
- It takes complicated concepts and makes them simple.
- It reminds people of the problem that’s being solved — it focuses on the “why.”
Figure out why your product needs to exist before you waste 6 months building one.
A good story makes it easier for people to buy and do the advertising for you.
You have probably heard you need a strong USP to make more sales or get more clients. But that’s wrong. Here’s why.
Uniqueness alone won’t do crap.
You can have the most unique product or service in the world. But it won’t bring in any sales unless your customer perceives it as an irresistible offer.
An irresistible offer has the following 4 things:
- The ROI is high and very clear for the buyer. If they buy, you can clearly demonstrate how you can make them more money or save time.
- You have the right credentials and social proof/testimonials that your product/service has already worked wonders for others.
- The need for your product is obvious and time-sensitive — meaning the sooner they buy, the better it is for them.
- How common is your product/service ‒ can the buyer get it anywhere or you are the only one providing
What actually happens when you increase your price vs when you decrease your price?
When you increase your price, you:
- Increase your client’s perceived value of your service
- Increase your clients’ results because they value your service and are invested
- Attract the best clients who are the easiest to satisfy and actually cost less to fulfill
Whereas, when you decrease your price, you:
- Decrease your clients’ emotional investment since it didn’t cost them much
- Decrease your clients’ perceived value of your service since it can’t be that good if it’s so cheap, or priced the same as everyone else
- Decrease your client’s results because they do not value your service and are not invested
- Attract the worst clients who are never satisfied until your service is free
Source: $100M offers-By Alex Hormozi
If you want to build a profitable business around the creator economy, build it around these 6 problems.
These are the most pressing problems for creators.
- Not sure how to get their content discovered — you can build a distribution channel to target the right audience.
- Don’t know how to monetize their content — you can tell them how to package their knowledge into an info product.
- Marketing their business — you can take care of their paid and organic advertising
- Publishing regularly — build a system or a template that can help content creators in a specific niche get regular content ideas
- Finding their niche audience
- Handling their business operations
The two most profitable revenue streams for the majority of content creators who make a full-time income are:
- Consulting and coaching
- Online courses/ workshops
It’s not sponsored content, paid subscriptions, merch, or affiliate marketing.
If you can find a successful content creator you like and help them land more clients for their consulting business or get more of their followers to buy their info products by writing email sequences that they can run forever — you don’t even need to create content. You can sit back and collect your performance-based fees.
They get richer and you get richer along with them.