The creator economy in 3D
The creator economy is changing how consumers interact with brands, media, and purchasing channels. In the latest iteration of the CMO Program’s Creator economy in 3D report, we found that three out of five consumers surveyed are likely to positively engage with a brand with the right creator’s recommendation. Read on to discover how brands can harness the evolving trends of the creator economy to take creator marketing to another level.
Creators and influencers aren’t interchangeable
While there are areas of overlap, they each serve different marketing objectives.
Brands
High-ROI brands are brands that reported 40% or higher ROI on revenue growth from their creator investments. What do they do differently than other brands?
High-ROI brands invest more...
42% of high-ROI brands’ social media budgets are invested into creator partnerships, nearly twice as much as low-ROI brands.
Diversify their partnerships...
2x as many high-ROI brands maintain six to 15 creator partnerships at a time than low-ROI brands.
And balance reach with impact
1.4x as many high-ROI brands target creators in the 250K–500K follower count range than low-ROI brands. However, the majority of these brands also target creators with smaller follower ranges.
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Creators
Strong brand-creator partnerships require a foundation of trust and respect for the creator—as both a creative individual and growing business. What attributes do today’s creators seek in brands they partner with?
Creators crave creative freedom
40% of high-ROI brands are more likely to place the highest importance on choosing creators for their creative vision. This ranges from supporting creative autonomy to making brand approvals quick and easy.
Long-term support matters
Nearly 4x as many creators are likely to continue a brand partnership when they feel like the brand supports their long-term growth.
You get what you pay for
Over 5x as many creators are likely to continue a brand partnership when they are satisfied with the brand’s compensation.
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Consumers
Gen Z and millennials are spending more time than previous generations on social media, and the average consumer follows five or more “favored” creators whom they actively seek out for new content and updates—regardless of the platform.
Consumers look to creators to learn
77% of consumers say they follow creators out of a shared interest or desire to learn something new.
Shared identities drive engagement
50% more consumers are likely to purchase a product at a creator’s recommendation if they identify with that creator’s socioeconomic background.
Favored creators hold sway
3 out of 5 consumers say they’re more likely to recommend a brand to others, purchase a product from that brand, or explore other products by that brand when a favored creator endorses them.
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