Digital Marketing Blog

Join us on Gary.Club and get our email newsletter and updates delivered directly to your inbox!

Go Back

Creator Economy: How To Monetize Your Passion

Posted by Gary Henderson on Apr 30, 2021 9:55:15 AM

There has never been a better time to monetize your passion. 

In 2021, the internet is like the Wild West; there are no rules and you can educate + entertain your audience to build a business on your terms.

The cool thing is that creators aren’t just musicians or artists anymore. It’s anyone who is impacting the world with their gifts.

The keyword though is “your” as you can build an online business like never before. But it all starts with creating and sharing content. Before offering anything, you need to first build trust with an audience and become an expert in your field. 

While most people use social media to consume them and escape from their lives, you can use it to educate others. For me, I think it all starts with education.

As Albert Einstein said, “Education is what remains after one has forgotten everything he learned in school.” 

The most successful I know and follow are always learning and improving. This is the first step in creating a personal brand business and sharing your knowledge with others.

While creating content is one thing, monetizing it into a real business that pays the bills and gives you freedom is something totally different.

Blending the two together is known as the creator economy and it’s your ticket to freedom

What Is The Creator Economy?

So what is the creator economy anyways? 

To me, being a creator means controlling your time. Being a creator allows you to impact the world with your gifts and create the life that you want.

No more having to settle for a job you hate and wishing that had a job or business around your passion. But this is a foreign concept still for a lot of people and goes against societal norms of a normal 9-5. 

So what is a creator anyway? 

A creator’s job is to invoke emotion with amazing content. A creator is anyone who is sharing and documenting their knowledge with others. 

Some people will love your content and eagerly await for more. While others might not agree with your message or even hate it.

Either way, you’re creating emotion. The best part is that you don’t have to be the best to start sharing content online and impacting others with your message. 

I like to think of the creator economy as a Venn diagram. 

Venn diagram example

The left circle would represent the creator, while the right side would be the economy, and the overlapping middle circle is the creator economy.

This is where the two blends together perfectly to help you create the business you’ve always wanted. To make it happen, you need to have epic content and the right digital marketing knowledge to make it a real business.  

Here’s how you can do it… 

Mindset to Become a Successful Creator

Before giving you tactics on becoming a wealthy creator, let’s talk about the mindset you need to succeed. 

If you’ve ever joined any of my chats on Clubhouse or podcast episodes, you know I love talking mindset. I’m a big believer that if you want to succeed in business, you must start with the right mindset, especially as a creator.

Because if you don’t work on improving your mindset and attitude, good luck finding success as a creator in the long term. 

The first mindset switch is to quit caring about the opinion of others.

Now, this is easier said than done because we are programmed to want others to like us but it’s 100% possible. Because if you sit there and worry before hitting publish before every piece of content, you’ll never make it.

Creating content is a numbers game - quantity leads to quality! But if you’re too scared to hit publish in fear of what others will think, you’ll never reach your true potential. 

Remember as a creator, it's your job to invoke a specific emotion from people. Creating your dream life in the creator economy isn’t a popularity contest, it’s about finding your first 1,000 raving fans. 

I once read a book called The 5 Regrets of the Dying and it changed my outlook on creating content.

The author was an Australian hospice nurse named Bronnie Ware who worked with people in their final days. After studying hundreds of patients from different backgrounds, she came to learn they all had five common regrets.

But the number one regret surprised me (and her) the most. As Bronnie Ware said in the book, “The number one regret of the dying is wishing they had the courage to live the life they wanted to live, not the one others had expected of them.”

When you let that sink in, you hopefully start to understand the mindset you need to lead a fulfilling life.

Quit trying to please everyone and instead, have the courage to go all in on your message.

You must have the courage to evoke emotion and share your message with others, regardless of if it’s always a popular opinion. 

How To Succeed As A Creator 

 

Now that you have the right mindset and understand the power of the creator economy, I want to share some tactics to help you succeed.

Here’s how to separate yourself from average creators and create a truly epic business on your terms. 

1. Be Yourself 

First things first, to become a successful creator you have to be yourself 100% of the time. No one wants to see the fake version of you that you put on for social media. 

Why?

Because no one wants to see someone who is perfect because they aren’t either, which makes it impossible to relate to you! Instead, you want to provide value but always be yourself. 

One of the easiest ways to do that is to document yourself throughout the day instead of trying to create unique content daily. This makes it easy to create new content and also shows you behind the scenes for your audience. 

By sharing behind the scenes of your life and being vulnerable makes it easier to connect with others and start to build your following. Remember, you’re 100% unique, so be you and share it with others to connect with them on a deep level! 

2. Always Repurpose Your Content 

The second thing you need to do as a creator is to show up consistently.

As you know, creating content takes both time and energy. But that doesn’t mean spending all your time on social media either.

Consistency is what separates you from everyone else who tries to create then goes dark on their audience. Instead, you want to show that you care by always being there to give them the extra boost they might need. 

To get the most out of that content, make sure that you repurpose your content. This way you can create a piece of core content and then distribute it across all your social media platforms.

Not only will this save you time but it will also help you become omnipresent with your audience. This should help you gain their trust and start to stand out as an expert in your niche. 

I recently published a mega guide on repurposing content and encourage you to implement it into your business. Click here to read the full article

3. Create A Signature Offer

As you start to get more and more followers and likely coaching students from your content, it’s critical that you find ways to scale without working more hours.

For example, 1:1 coaching is great in the beginning, but it’s not scalable as you are trading your time for money. Eventually, you’ll need to create something that is scalable and becomes your own signature program. 

Your signature program is the full, transformational journey that people will go on when they work with you. Creating a signature program helps you:

  • Scale your impact and income. 

  • Separates yourself from competitors.

  • Create your own unique framework/methodology.

  • Develop a clear success path to help more people get results.  

Remember, people aren’t buying an online course or mentoring program, they’re buying the transformation.

That’s why people follow you and enroll in your paid offers, they want someone to help them get results faster. Create something world-class that is helping people get massive results in their life or business. 

4. Drive Traffic To Your Content

As I mentioned in our second point, you have to stay consistent in order to see results. But I think the biggest reason people don’t stay consistent is because they aren’t seeing much (or any) interaction to their content… at least in the beginning. 

As a creator, there isn’t a much worse feeling than spending tons of time on a YouTube video and no one watches. Or, going live on Instagram or Facebook and only a few people show up.

Creating epic content takes a lot of effort and doing all that only for a few views is very disheartening. 

So what’s the solution?

Using paid traffic to build momentum, even if you’re just starting out. I like to think of paid traffic as the fastest way to test out your offers and messaging. Sometimes you have to create content, then push it out with paid ads.

Other times, you might create a viral piece of content that gets tons of organic traffic. But if you’re just starting out, don’t be afraid to run paid traffic, even if it’s $5 to $10 per day can make a huge difference. 

5. Take Advantage Of New Platforms

As you know, I love Clubhouse and can’t believe the effect it’s had on my business in such a short amount of time. I’m not alone either, I recently hosted a room about the creator economy and had a friend named Kim up on stage.

Like me, she just started using Clubhouse and found amazing results in an extremely short amount of time. 

Here’s a quick overview of her story to give you some inspiration: 

  • Kim joined Clubhouse on December 31st, 2020. 

  • As a course creator coach, she wanted to learn more about her target audience. She hosted small rooms of people who wanted to learn how to launch an online course. She also joined rooms and listened to clubhouse conversations from future course creators.  

  • She quickly found that it was a goldmine of her target market. As she hosted and learned more about her audience, she started giving them a call to action to learn more.

  • Every 15 mins she gives them a call to action to DM her or click the link in bio (Side note: I’ve found that the turnover on Clubhouse is around 11 minutes which is why it's great to remind them of the call to action regularly). 

  • Having them do these micro-commitments led her to doing a virtual workshop and generating over $600,000 in revenue. Nearly half of that was directly associated with Clubhouse. Yet, a few months ago she had never even used the platform! 

Crazy right? Heck, another person in our Clubhouse chat gained one million followers on TikTok in a few short months.

As a creator, you need to constantly test and experiment so that you can take advantage of trends. 

It goes to show that trying out other platforms can help you tremendously. Don’t be afraid to experiment and see if a new platform is where your audience hangs out.

6. Create An Ascension Model 

Your goal as a creator is simple: create amazing experiences and transformations for your audience.

Whether it’s someone who is following you on Instagram or someone who joins your signature offer. The goal remains the same - provide epic content and transformation. 

But not all of your fans and followers are on the same level and have the same goals, so it’s important to create an ascension model. This will help you impact more people and serve those who are more committed than others by ascending them up your value ladder.  

For example, here’s how it could look:

  • Bottom of the pyramid: Free content such as a YouTube channel or podcast. The goal with free content is to get people to know, like, and trust you plus get them on your email list. Because followers and fans are great, but you don’t own them - each social media platform does. 

  • Second block of the pyramid: Low ticket offer such as a $37 mini-course or paid workshop. 

  • Third block of the pyramid: Your signature offer from step three. 

  • Fourth block of the pyramid: Your signature offer, plus additional 1:1 or group coaching or a back-end membership for paying students only. 

  • Fifth block of the pyramid: A small, intimate high ticket mastermind for 3-12 months. 

creator economy pyramid example

What’s great about an ascension model is that you can scale the experience for all types of people and budget.

Once someone starts at the bottom, you give them a clear way to work with you at a higher investment level but also more help as well. 

7. Keep Mastering Your Craft

The final step to finding success in the creator economy is to keep mastering your craft and never get complacent. In an era where information is overwhelming, content is not king anymore.

Instead, quality content is how you separate yourself from competitors.

The most successful creators are the ones that are constantly pushing themselves to create better content. That might mean:

  • Upgrading your YouTube studio.

  • Investing in a high-quality microphone for podcasts or Clubhouse.

  • Hiring a team of freelancers or video editors to help you repurpose content. 

Related: Self-Monetization: The Key to Growing Your Business 

Final Thoughts On The Creator Economy 

My goal as a creator is simple, I want to leave the world a better place than I found it. And chances are, you have a similar goal too. 

The opportunity is out there like never before, but it’s up to you to make it happen. Once you have the right mindset to succeed, you can build an epic business in the creator economy. 

Remember, once you quit worrying about the opinion of others and focus on giving value, anything is possible.

Keep showing up consistently, create your first 1,000 raving fans, experiment with paid traffic, and ascend people as they get more familiar with your content. 

Don’t forget, you aren’t just creating content - you’re creating transformation for others!