8 Useful strategies for finding a niche in the Creator Economy
The creator economy has exploded into a multi-billion-dollar industry, with millions of new digital creators joining the bandwagon daily. With so much content out there, it has become hard for creators to stand out. This is why content creators, especially full-time creators, are choosing to niche it out.
According to the Influencer marketing hub benchmark report,48.72% of creators consider content creation a full-time job. While 1.4% earned above $1 million annually, 21% of creators made a livable income above 50k dollars.
Choosing a niche is not an option; it is the need of the hour
There are too many creators, while opportunities are limited. Also, the current trend suggests that the creator ecosystem has been more supportive of creators with their niche down pat. Content monetization, especially when you are starting out, takes ample time, dedication, and a little luck. And as the creator economy continues to grow, creator’s payouts also haven’t changed much either.
Adding to the woes, creators are at the whim of social media platform algorithms. They are pushed to crank out trend-based content, causing friction as the creator’s economy is driven by authenticity, not algorithms. Therefore, in the current scenario, finding a niche and standing out from the competition is the best way forward for the creators.
Finding the right niche
If you choose a small niche, there might not be enough demand for it to establish a substantial following. On the other hand, if your specialization is too broad, you risk confusing your readers and failing to gain any level of subject-matter authority or competence.
However, if done right, we believe that niching out can give creators a plethora of advantages such as growing followers, widening reach, establishing authenticity, etc., and with lucrative content monetization opportunities such as premium brand deals, marketing campaigns and many other sources of money making. And that’s why you need a game plan.
Here are 8 useful strategies for you to consider when you are on a niche-finding spree.
1. Find and explore your passions
If you are still trying to figure out where to begin, start with what you know, what you’re passionate about, or your skill set. The niche you select will form the basis for your content. If you develop a niche based on your passions, hobbies, or something you care about, it will help your audience to connect with you, and they will always find their way back to you since your content speaks to them, and they will know what to expect.
Also, be patient in choosing your niche, as it may be a painstaking process of trials and errors going through several niches before settling down with one you are most likely to stick with in the long run.
Before you go exploring, know that an untapped niche only sometimes guarantees a good niche. It also implies that others have tried and failed to make money in the long term, rendering the venture unsustainable. In fact, if there’s a healthy level of competition, it might signify a viable niche, and you are on the right path.
Remember that the best niches will always have a high market demand and a stable audience. Digital Marketing, health/fitness, fintech, food, and personal development/self-care are the top 5 niches in 2022.
In addition to selecting your niche, please know which form of content will work best in your niche and prove to be profitable. To know more, consider checking our Twitter handle @spreaddstories and the thread outlining the formats of content for content creators to choose from that work on various social media platforms.
2. Use tools and platforms to help find your niche
Several content creation tools and platforms assist you in your journey as a creator. Popular online forums like Quora and Reddit are ideal for discovering your inner creator because they have a wide range of topics. The platform also has an incredible amount of data, so there is plenty to explore. You can start by reading the questions and comments and following the conversations to learn what people are talking and complaining about and what kind of solutions they seek.
Use popular analytics tools like Google trends, SEMRush, UberSuggest, etc., to find keywords with high search volume. These tools will also help you keep up with the current trends across social media platforms and what is making people tick.
Then there are CRM tools designed exclusively for influencers which have lately emerged in hordes to assist influencers in optimizing and managing their workflows.
3. Niche it down
After you’ve decided on an industry, it’s time to narrow down and focus on a single area of interest. For example, if Web3 is your chosen domain, then focus on the content related to the industry. You can market yourself as a blockchain expert, NFT investor/adviser, or similar expert. Say you choose to be a blockchain expert creating content on blockchain technology and start posting it on your YouTube channel. This way, you will get a selected audience with similar interests, and they will start following your channel.
Once you’ve established your authority in one sector, you can also branch out into related Web3 technologies, such as NFTs or cryptocurrencies.
4. Research your target market
The most important aspect of content creation is identifying your target audience. In addition to knowing what kind of content is the most profitable, you need to understand what kind of content resonates with your existing and potential audience. Be on top of their internet activity patterns and the information they favor. Gathering this information will benefit in a number of ways, including the ability to produce content that, depending on the genre, will either be educational, inspirational, or entertaining. Furthermore, you will be able to determine whether your intended audience is ignorant of a problem that you may bring to their attention through your content and offer a solution to.
5. Choose a platform
Social media platforms are the bread and butter for the creators. Social media giants like Youtube, Facebook, Twitter, etc., have long monopolized the creator economy market. The continuously growing number of creators has given rise to secondary or niche-based platforms, like Patreon, Substack, Twitch, Kajabi, etc., emerging as cheaper alternatives and becoming high-paying content monetizing hubs.
Spreadd is another emerging name in the vast field of creator economy. Our blockchain-based ecosystem specializes in helping creators and influencers find brands and marketing campaigns in sync with their chosen niches. We provide KPIs and tools to better your content creation game and marketing campaigns. We are also developing multiple monetization channels with the help of decentralized technology incorporating dynamic NFTs, layered and shoppable content, e-learning courses, and so much more.
6. Become the problem solver
The best-selling content is the one solving a consumer’s issues. Analyze the problems existing within your niche and figure out how you can address them. Study the key players, the issues they are solving, and what they are missing out on. Think out-of-the-box solutions and fill the gap.
7. Study your competition
Healthy competition often brings out the best content. Spend time scrutinizing your competitor’s websites, business models, social media platforms, merchandise, and branding to know what you can bring to the table. For example, if you are a budding YouTuber with a niche in organic gardening, study other Youtuber’s videos with similar content to observe what is working for them and what isn’t. Learn what your target audience is looking for, identify their pain points, and plan your content accordingly.
8. Match your content with future goals
As a creator, you need to figure out your content sustainability and how much effort you are willing to put into turning yourself into a full-time creator. Analyze your future goals and evaluate your present content to know if it is flexible enough to keep up with the changing market trends. Also, study brands and successful content creators to determine how you could diversify your sources of income.
The future is yours to create
The creator economy’s future is exciting, growing exponentially, and full of immense possibilities. Creators and social media influencers can do what they love, control what they do, monetize it, inspire others, and get rockstar status simply by finding the right niche.
About Spreadd
Spreadd is proud to be a part of this revolutionary movement. We are an automated marketing platform that uses Web3 technology to build a decentralized ecosystem for businesses, influencers, and content creators. That’s not all, either! Our future goals include building a healthy ecosystem with a wide range of options and revenue streams for platform users. Therefore, if you are someone who’s a part of the creator economy, we’d love to hear from you.
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