Creator Series #2: Diversify your Revenue Streams, Content, Channels ⚡️
This is a new newsletter series by Revele for creators in the Creator Economy ⚡️ We will be sharing insights on how to get started as a creator, grow and monetize your channel, trends on what content to create to make your posts go viral, and how you can think of your channel as a real business 🔥
In Part 1 of the series, we covered how to get started as a creator and finding your niche — if you haven’t checked that out yet read it here. This article is a continuation from there.
Content creators start by finding a niche and then building an audience. When creators reach creator market-fit they may notice one thing to happen on their channels ➡️ Stagnation in growth.
🛑 Reaching Stagnation
A typical creator journey looks like something below -
After finding their niche and audience, creators reach a threshold beyond which making content and growing their audience becomes extremely hard and this leads to a stagnation point in their growth trajectory. This is when creators should start to diversify! You got your foundations laid, and now can start to branch out.
⚡️ Diversify To Grow & Scale
The key to fostering and growing your relationship with your fans is to identify the channels and content types that work for your unique audience as a creator. Picking one content form and channel to start with but quickly diversifying into multiple content types and platforms will enable you to grow from just a channel to a brand and then to a business. Also from a revenue perspective, this is extremely necessary if you’d like to become a full-time content creator. The opportunities for you to grow as a creator and reach financial freedom in your creative journey are endless, all you have to do is go for them.
1) 📈 Diversify Content & Channels
As a content creator, diversification means offering your fans multiple ways to connect with you. Below are some examples of ways to diversify -
Every successful creator has utilized this method to sustain themselves and grow their channels into a sustainable brand. Take the case of one of the most viral stars from TikTok — Addison Rae. She started as a 20-year-old posting videos on TikTok in July 2019 and in less than 2 years has been able to become one of America’s most viral media stars, with multiple brand collaborations, her own beauty company, and platforms. The diagram below shows some of the ways she has diversified herself as a creator.
As you can see — it is key to not limit yourself — the opportunities are there, you just have to get a little creative with it.
2) 💸 Diversify Your Revenue Streams
After you diversify your content & channels, you need to diversify your revenue streams. The best way to get started would be to start thinking about the different business models on different platforms. After choosing the revenue streams that will work for you and your audience you need to start prioritizing them. Here are some of the revenue streams that you can explore to diversify your income as a creator -
- Advertising
- Brand Partnerships
- Affiliate Marketing
- Tipping and Virtual Gifting
- Selling fan engagement
- Selling digital content
- Subscriptions and Paywalls
- Courses and Events
- Selling Merch
- Receiving money from fans via a donation platform
- Merchandise
- NFTs
- Investing
Remember you only need to amass 100 True Fans — not 1,000 — paying you $1,000 a year. So choose your revenue streams wisely and find ways to provide as much value to your 100 true fans.
In our following article, we will go into more detail on each revenue stream and explain how to best make use of it for your audience.
👀 This is the second part in a series of articles where we’ll be sharing insights, resources, and tip & tricks on how to grow and scale as a creator (Part 1 here if you missed it).
We’ll be covering things like metrics to grow as a creator, how to connect your content with trends, diversification of your brand, scaling yourself to reach full-time content creation 🔥
At Revele we are building growth and business tools to help creators and social media managers succeed. If that is you and you are interested in what we are building then shoot us an email at getrevele@gmail.com!
