Director of Marketing Content at GRIN
Influencer rates, NFTs, and recession in the creator economy
In this episode:
Reporter at The Information
Kaya Yurieff joined The Information in April 2021 to launch the creator economy newsletter and write features about the fast-growing sector. Previously, she covered technology and social media platforms at CNN. She started her journalism career writing breaking news at TheStreet.
Kaya joined this episode of the GRIN Gets Real podcast to chat about NFTs, influencer rates, and how brands can navigate creator partnerships amid a looming recession. Listen now and subscribe to GRIN Gets Real wherever you listen to podcasts.
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About GRIN Gets Real
Welcome to the GRIN gets real podcast, the show for people who want to maximize their marketing potential. From influencer marketing to eCommerce strategy and everything in between, each episode will feature industry experts that share their insights and provide actionable tips to help you achieve your marketing goals. Subscribe and stay tuned!
Full episode details
Understanding how the economy affects creator partnerships & influencer rates
Bank on creators in the face of recession.
Breakdown of the GRIN Gets Real podcast: Season 2, Episode 20
“Oftentimes, during downturns and recessions, ad budgets are the first thing that gets scaled back and cut. So, it’s an open question of how brands are going to allocate budget. And it’s very possible that they might shift to doing more influencer marketing because it’s less expensive than doing a TV campaign or a subway takeover or a billboard or something like that. So we might see that shift in favor of creators.” –Kaya Yurieff, Creator Economy Reporter for The Information
As a recession looms, brands should look to creators to get the most out of their marketing dollars if they have to scale back their budgets. By partnering with creators who use and understand their brand’s products, marketers have a chance to land the perfect brand champions without shelling out massive fees.
In this episode of the GRIN Gets Real podcast, listeners will also learn:
- How to navigate fluctuating influencer rates.
- The effect NFTs have on the creator economy.
- What brands can expect regarding a potential recession.
- How the creator economy will change in the coming years.
- And much, much more.
Quotes from the episode
“I think the definition of the creator has changed. In years past, we would only really have thought of a YouTuber or an Instagram influencer. Now we really think of independent musicians as creators, we think of podcasters, we think of newsletter writers and independent journalists who are going off on their own and writing a newsletter or giving people updates on Instagram. I take a pretty broad definition of it. It’s anyone that’s really building a community online and putting out content consistently on the internet.”
“I think the biggest thing is just to give [creators] creative control because I think a lot of creators get spooked or are annoyed when brands are like, ‘OK, we want to work with you. And we need this by next Tuesday. And this is the script, and this is what we want.’ And I think a lot of creators want brands to just trust them. Like, ‘I know how to speak to my audience. I know it’s gonna resonate.'”
“I think there definitely are more creators. I mean, TikTok has been a huge driver of that to just be so much more accessible. I think if you want to get started on YouTube or Instagram, it’s really hard. I mean, now they have short-form videos, and that’s helping with discovery. But if you’re trying to just build up a traditional YouTube channel, that’s much harder just because there’s so many more creators—there’s so many more users and attention. But TikTok has really ushered in this completely new generation of creators who have been able to build up a following really quickly.”
“I’m more interested in how creators could use NFTs and pair them with some sort of real-world experience. We’ve seen that start to happen where you know, maybe you’re an NFT holder, and then that gives you a discount on merchandise, or it gives you a meet-and-greet ticket to their next concert or their next event that they’re going to. So I think if they can pair things and give people real-world value, that might land better with their audience.”
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