More on Marketing

Tim Denning
3 years ago
I Posted Six Times a Day for 210 Days on Twitter. Here's What Happened.
I'd spend hours composing articles only to find out they were useless. Twitter solved the problem.
Twitter is wrinkled, say critics.
Nope. Writing is different. It won't make sense until you write there.
Twitter is resurgent. People are reading again. 15-second TikToks overloaded our senses.
After nuking my 20,000-follower Twitter account and starting again, I wrote every day for 210 days.
I'll explain.
I came across the strange world of microblogging.
Traditional web writing is filler-heavy.
On Twitter, you must be brief. I played Wordle.
Twitter Threads are the most popular writing format. Like a blog post. It reminds me of the famous broetry posts on LinkedIn a few years ago.
Threads combine tweets into an article.
Sharp, concise sentences
No regard for grammar
As important as the information is how the text looks.
Twitter Threads are like Michael Angelo's David monument. He chipped away at an enormous piece of marble until a man with a big willy appeared.
That's Twitter Threads.
I tried to remove unnecessary layers from several of my Wordpress blog posts. Then I realized something.
Tweeting from scratch is easier and more entertaining. It's quicker and makes you think more concisely.
Superpower: saying much with little words. My long-form writing has improved. My article sentences resemble tweets.
You never know what will happen.
Twitter's subcultures are odd. Best-performing tweets are strange.
Unusual trend: working alone and without telling anyone. It's a rebellion against Instagram influencers who share their every moment.
Early on, random thoughts worked:
My friend’s wife is Ukrainian. Her family are trapped in the warzone. He is devastated. And here I was complaining about my broken garage door. War puts everything in perspective. Today is a day to be grateful for peace.
Documenting what's happening triggers writing. It's not about viral tweets. Helping others matters.
There are numerous anonymous users.
Twitter uses pseudonyms.
You don't matter. On sites like LinkedIn, you must use your real name. Welcome to the Cyberpunk metaverse of Twitter :)
One daily piece of writing is a powerful habit.
Habits build creator careers. Read that again.
Twitter is an easy habit to pick up. If you can't tweet in one sentence, something's wrong. Easy-peasy-japanese.
Not what I tweeted, but my constancy, made the difference.
Daily writing is challenging, especially if your supervisor is on your back. Twitter encourages writing.
Tweets evolved as the foundation of all other material.
During my experiment, I enjoyed Twitter's speed.
Tweets get immediate responses, comments, and feedback. My popular tweets become newspaper headlines. I've also written essays from tweet discussions.
Sometimes the tweet and article were clear. Twitter sometimes helped me overcome writer's block.
I used to spend hours composing big things that had little real-world use.
Twitter helped me. No guessing. Data guides my coverage and validates concepts.
Test ideas on Twitter.
It took some time for my email list to grow.
Subscribers are a writer's lifeblood.
Without them, you're broke and homeless when Mark Zuckerberg tweaks the algorithms for ad dollars. Twitter has three ways to obtain email subscribers:
1. Add a link to your bio.
Twitter allows bio links (LinkedIn now does too). My eBook's landing page is linked. I collect emails there.
2. Start an online newsletter.
Twitter bought newsletter app Revue. They promote what they own.
I just established up a Revue email newsletter. I imported them weekly into my ConvertKit email list.
3. Create Twitter threads and include a link to your email list in the final tweet.
Write Twitter Threads and link the last tweet to your email list (example below).
Initial email subscribers were modest.
Numbers are growing. Twitter provides 25% of my new email subscribers. Some days, 50 people join.
Without them, my writing career is over. I'd be back at a 9-5 job begging for time off to spend with my newborn daughter. Nope.
Collect email addresses or die trying.
As insurance against unsubscribes and Zucks, use a second email list or Discord community.
What I still need to do
Twitter's fun. I'm wiser. I need to enable auto-replies and auto-DMs (direct messages).
This adds another way to attract subscribers. I schedule tweets with Tweet Hunter.
It’s best to go slow. People assume you're an internet marketer if you spam them with click requests.
A human internet marketer is preferable to a robot. My opinion.
210 days on Twitter taught me that. I plan to use the platform until I'm a grandfather unless Elon ruins it.

Saskia Ketz
2 years ago
I hate marketing for my business, but here's how I push myself to keep going
Start now.
When it comes to building my business, I’m passionate about a lot of things. I love creating user experiences that simplify branding essentials. I love creating new typefaces and color combinations to inspire logo designers. I love fixing problems to improve my product.
Business marketing isn't my thing.
This is shared by many. Many solopreneurs, like me, struggle to advertise their business and drive themselves to work on it.
Without a lot of promotion, no company will succeed. Marketing is 80% of developing a firm, and when you're starting out, it's even more. Some believe that you shouldn't build anything until you've begun marketing your idea and found enough buyers.
Marketing your business without marketing experience is difficult. There are various outlets and techniques to learn. Instead of figuring out where to start, it's easier to return to your area of expertise, whether that's writing, designing product features, or improving your site's back end. Right?
First, realize that your role as a founder is to market your firm. Being a founder focused on product, I rarely work on it.
Secondly, use these basic methods that have helped me dedicate adequate time and focus to marketing. They're all simple to apply, and they've increased my business's visibility and success.
1. Establish buckets for every task.
You've probably heard to schedule tasks you don't like. As simple as it sounds, blocking a substantial piece of my workday for marketing duties like LinkedIn or Twitter outreach, AppSumo customer support, or SEO has forced me to spend time on them.
Giving me lots of room to focus on product development has helped even more. Sure, this means scheduling time to work on product enhancements after my four-hour marketing sprint.
It also involves making space to store product inspiration and ideas throughout the day so I don't get distracted. This is like the advice to keep a notebook beside your bed to write down your insomniac ideas. I keep fonts, color palettes, and product ideas in folders on my desktop. Knowing these concepts won't be lost lets me focus on marketing in the moment. When I have limited time to work on something, I don't have to conduct the research I've been collecting, so I can get more done faster.
2. Look for various accountability systems
Accountability is essential for self-discipline. To keep focused on my marketing tasks, I've needed various streams of accountability, big and little.
Accountability groups are great for bigger things. SaaS Camp, a sales outreach coaching program, is mine. We discuss marketing duties and results every week. This motivates me to do enough each week to be proud of my accomplishments. Yet hearing what works (or doesn't) for others gives me benchmarks for my own marketing outcomes and plenty of fresh techniques to attempt.
… say, I want to DM 50 people on Twitter about my product — I get that many Q-tips and place them in one pen holder on my desk.
The best accountability group can't watch you 24/7. I use a friend's simple method that shouldn't work (but it does). When I have a lot of marketing chores, like DMing 50 Twitter users about my product, That many Q-tips go in my desk pen holder. After each task, I relocate one Q-tip to an empty pen holder. When you have a lot of minor jobs to perform, it helps to see your progress. You might use toothpicks, M&Ms, or anything else you have a lot of.
3. Continue to monitor your feedback loops
Knowing which marketing methods work best requires monitoring results. As an entrepreneur with little go-to-market expertise, every tactic I pursue is an experiment. I need to know how each trial is doing to maximize my time.
I placed Google and Facebook advertisements on hold since they took too much time and money to obtain Return. LinkedIn outreach has been invaluable to me. I feel that talking to potential consumers one-on-one is the fastest method to grasp their problem areas, figure out my messaging, and find product market fit.
Data proximity offers another benefit. Seeing positive results makes it simpler to maintain doing a work you don't like. Why every fitness program tracks progress.
Marketing's goal is to increase customers and revenues, therefore I've found it helpful to track those metrics and celebrate monthly advances. I provide these updates for extra accountability.
Finding faster feedback loops is also motivating. Marketing brings more clients and feedback, in my opinion. Product-focused founders love that feedback. Positive reviews make me proud that my product is benefitting others, while negative ones provide me with suggestions for product changes that can improve my business.
The best advice I can give a lone creator who's afraid of marketing is to just start. Start early to learn by doing and reduce marketing stress. Start early to develop habits and successes that will keep you going. The sooner you start, the sooner you'll have enough consumers to return to your favorite work.

Ivona Hirschi
3 years ago
7 LinkedIn Tips That Will Help in Audience Growth
In 8 months, I doubled my audience with them.
LinkedIn's buzz isn't over.
People dream of social proof every day. They want clients, interesting jobs, and field recognition.
LinkedIn coaches will benefit greatly. Sell learning? Probably. Can you use it?
Consistency has been key in my eight-month study of LinkedIn. However, I'll share seven of my tips. 700 to 4500 people followed me.
1. Communication, communication, communication
LinkedIn is a social network. I like to think of it as a cafe. Here, you can share your thoughts, meet friends, and discuss life and work.
Do not treat LinkedIn as if it were a board for your post-its.
More socializing improves relationships. It's about people, like any network.
Consider interactions. Three main areas:
Respond to criticism left on your posts.
Comment on other people's posts
Start and maintain conversations through direct messages.
Engage people. You spend too much time on Facebook if you only read your wall. Keeping in touch and having meaningful conversations helps build your network.
Every day, start a new conversation to make new friends.
2. Stick with those you admire
Interact thoughtfully.
Choose your contacts. Build your tribe is a term. Respectful networking.
I only had past colleagues, family, and friends in my network at the start of this year. Not business-friendly. Since then, I've sought out people I admire or can learn from.
Finding a few will help you. As they connect you to their networks. Friendships can lead to clients.
Don't underestimate network power. Cafe-style. Meet people at each table. But avoid people who sell SEO, web redesign, VAs, mysterious job opportunities, etc.
3. Share eye-catching infographics
Daily infographics flood LinkedIn. Visuals are popular. Use Canva's free templates if you can't draw them.
Last week's:
It's a fun way to visualize your topic.
You can repost and comment on infographics. Involve your network. I prefer making my own because I build my brand around certain designs.
My friend posted infographics consistently for four months and grew his network to 30,000.
If you start, credit the authors. As you steal someone's work.
4. Invite some friends over.
LinkedIn alone can be lonely. Having a few friends who support your work daily will boost your growth.
I was lucky to be invited to a group of networkers. We share knowledge and advice.
Having a few regulars who can discuss your posts is helpful. It's artificial, but it works and engages others.
Consider who you'd support if they were in your shoes.
You can pay for an engagement group, but you risk supporting unrelated people with rubbish posts.
Help each other out.
5. Don't let your feed or algorithm divert you.
LinkedIn's algorithm is magical.
Which time is best? How fast do you need to comment? Which days are best?
Overemphasize algorithms. Consider the user. No need to worry about the best time.
Remember to spend time on LinkedIn actively. Not passively. That is what Facebook is for.
Surely someone would find a LinkedIn recipe. Don't beat the algorithm yet. Consider your audience.
6. The more personal, the better
Personalization isn't limited to selfies. Share your successes and failures.
The more personality you show, the better.
People relate to others, not theories or quotes. Why should they follow you? Everyone posts the same content?
Consider your friends. What's their appeal?
Because they show their work and identity. It's simple. Medium and Linkedin are your platforms. Find out what works.
You can copy others' hooks and structures. You decide how simple to make it, though.
7. Have fun with those who have various post structures.
I like writing, infographics, videos, and carousels. Because you can:
Repurpose your content!
Out of one blog post I make:
Newsletter
Infographics (positive and negative points of view)
Carousel
Personal stories
Listicle
Create less but more variety. Since LinkedIn posts last 24 hours, you can rotate the same topics for weeks without anyone noticing.
Effective!
The final LI snippet to think about
LinkedIn is about consistency. Some say 15 minutes. If you're serious about networking, spend more time there.
The good news is that it is worth it. The bad news is that it takes time.
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Max Parasol
3 years ago
What the hell is Web3 anyway?
"Web 3.0" is a trendy buzzword with a vague definition. Everyone agrees it has to do with a blockchain-based internet evolution, but what is it?
Yet, the meaning and prospects for Web3 have become hot topics in crypto communities. Big corporations use the term to gain a foothold in the space while avoiding the negative connotations of “crypto.”
But it can't be evaluated without a definition.
Among those criticizing Web3's vagueness is Cobie:
“Despite the dominie's deluge of undistinguished think pieces, nobody really agrees on what Web3 is. Web3 is a scam, the future, tokenizing the world, VC exit liquidity, or just another name for crypto, depending on your tribe.
“Even the crypto community is split on whether Bitcoin is Web3,” he adds.
The phrase was coined by an early crypto thinker, and the community has had years to figure out what it means. Many ideologies and commercial realities have driven reverse engineering.
Web3 is becoming clearer as a concept. It contains ideas. It was probably coined by Ethereum co-founder Gavin Wood in 2014. His definition of Web3 included “trustless transactions” as part of its tech stack. Wood founded the Web3 Foundation and the Polkadot network, a Web3 alternative future.
The 2013 Ethereum white paper had previously allowed devotees to imagine a DAO, for example.
Web3 now has concepts like decentralized autonomous organizations, sovereign digital identity, censorship-free data storage, and data divided by multiple servers. They intertwine discussions about the “Web3” movement and its viability.
These ideas are linked by Cobie's initial Web3 definition. A key component of Web3 should be “ownership of value” for one's own content and data.
Noting that “late-stage capitalism greedcorps that make you buy a fractionalized micropayment NFT on Cardano to operate your electric toothbrush” may build the new web, he notes that “crypto founders are too rich to care anymore.”
Very Important
Many critics of Web3 claim it isn't practical or achievable. Web3 critics like Moxie Marlinspike (creator of sslstrip and Signal/TextSecure) can never see people running their own servers. Early in January, he argued that protocols are more difficult to create than platforms.
While this is true, some projects, like the file storage protocol IPFS, allow users to choose which jurisdictions their data is shared between.
But full decentralization is a difficult problem. Suhaza, replying to Moxie, said:
”People don't want to run servers... Companies are now offering API access to an Ethereum node as a service... Almost all DApps interact with the blockchain using Infura or Alchemy. In fact, when a DApp uses a wallet like MetaMask to interact with the blockchain, MetaMask is just calling Infura!
So, here are the questions: Web3: Is it a go? Is it truly decentralized?
Web3 history is shaped by Web2 failure.
This is the story of how the Internet was turned upside down...
Then came the vision. Everyone can create content for free. Decentralized open-source believers like Tim Berners-Lee popularized it.
Real-world data trade-offs for content creation and pricing.
A giant Wikipedia page married to a giant Craig's List. No ads, no logins, and a private web carve-up. For free usage, you give up your privacy and data to the algorithmic targeted advertising of Web 2.
Our data is centralized and savaged by giant corporations. Data localization rules and geopolitical walls like China's Great Firewall further fragment the internet.
The decentralized Web3 reflects Berners-original Lee's vision: "No permission is required from a central authority to post anything... there is no central controlling node and thus no single point of failure." Now he runs Solid, a Web3 data storage startup.
So Web3 starts with decentralized servers and data privacy.
Web3 begins with decentralized storage.
Data decentralization is a key feature of the Web3 tech stack. Web2 has closed databases. Large corporations like Facebook, Google, and others go to great lengths to collect, control, and monetize data. We want to change it.
Amazon, Google, Microsoft, Alibaba, and Huawei, according to Gartner, currently control 80% of the global cloud infrastructure market. Web3 wants to change that.
Decentralization enlarges power structures by giving participants a stake in the network. Users own data on open encrypted networks in Web3. This area has many projects.
Apps like Filecoin and IPFS have led the way. Data is replicated across multiple nodes in Web3 storage providers like Filecoin.
But the new tech stack and ideology raise many questions.
Giving users control over their data
According to Ryan Kris, COO of Verida, his “Web3 vision” is “empowering people to control their own data.”
Verida targets SDKs that address issues in the Web3 stack: identity, messaging, personal storage, and data interoperability.
A big app suite? “Yes, but it's a frontier technology,” he says. They are currently building a credentialing system for decentralized health in Bermuda.
By empowering individuals, how will Web3 create a fairer internet? Kris, who has worked in telecoms, finance, cyber security, and blockchain consulting for decades, admits it is difficult:
“The viability of Web3 raises some good business questions,” he adds. “How can users regain control over centralized personal data? How are startups motivated to build products and tools that support this transition? How are existing Web2 companies encouraged to pivot to a Web3 business model to compete with market leaders?
Kris adds that new technologies have regulatory and practical issues:
"On storage, IPFS is great for redundantly sharing public data, but not designed for securing private personal data. It is not controlled by the users. When data storage in a specific country is not guaranteed, regulatory issues arise."
Each project has varying degrees of decentralization. The diehards say DApps that use centralized storage are no longer “Web3” companies. But fully decentralized technology is hard to build.
Web2.5?
Some argue that we're actually building Web2.5 businesses, which are crypto-native but not fully decentralized. This is vital. For example, the NFT may be on a blockchain, but it is linked to centralized data repositories like OpenSea. A server failure could result in data loss.
However, according to Apollo Capital crypto analyst David Angliss, OpenSea is “not exactly community-led”. Also in 2021, much to the chagrin of crypto enthusiasts, OpenSea tried and failed to list on the Nasdaq.
This is where Web2.5 is defined.
“Web3 isn't a crypto segment. “Anything that uses a blockchain for censorship resistance is Web3,” Angliss tells us.
“Web3 gives users control over their data and identity. This is not possible in Web2.”
“Web2 is like feudalism, with walled-off ecosystems ruled by a few. For example, an honest user owned the Instagram account “Meta,” which Facebook rebranded and then had to make up a reason to suspend. Not anymore with Web3. If I buy ‘Ethereum.ens,' Ethereum cannot take it away from me.”
Angliss uses OpenSea as a Web2.5 business example. Too decentralized, i.e. censorship resistant, can be unprofitable for a large company like OpenSea. For example, OpenSea “enables NFT trading”. But it also stopped the sale of stolen Bored Apes.”
Web3 (or Web2.5, depending on the context) has been described as a new way to privatize internet.
“Being in the crypto ecosystem doesn't make it Web3,” Angliss says. The biggest risk is centralized closed ecosystems rather than a growing Web3.
LooksRare and OpenDAO are two community-led platforms that are more decentralized than OpenSea. LooksRare has even been “vampire attacking” OpenSea, indicating a Web3 competitor to the Web2.5 NFT king could find favor.
The addition of a token gives these new NFT platforms more options for building customer loyalty. For example, OpenSea charges a fee that goes nowhere. Stakeholders of LOOKS tokens earn 100% of the trading fees charged by LooksRare on every basic sale.
Maybe Web3's time has come.
So whose data is it?
Continuing criticisms of Web3 platforms' decentralization may indicate we're too early. Users want to own and store their in-game assets and NFTs on decentralized platforms like the Metaverse and play-to-earn games. Start-ups like Arweave, Sia, and Aleph.im propose an alternative.
To be truly decentralized, Web3 requires new off-chain models that sidestep cloud computing and Web2.5.
“Arweave and Sia emerged as formidable competitors this year,” says the Messari Report. They seek to reduce the risk of an NFT being lost due to a data breach on a centralized server.
Aleph.im, another Web3 cloud competitor, seeks to replace cloud computing with a service network. It is a decentralized computing network that supports multiple blockchains by retrieving and encrypting data.
“The Aleph.im network provides a truly decentralized alternative where it is most needed: storage and computing,” says Johnathan Schemoul, founder of Aleph.im. For reasons of consensus and security, blockchains are not designed for large storage or high-performance computing.
As a result, large data sets are frequently stored off-chain, increasing the risk for centralized databases like OpenSea
Aleph.im enables users to own digital assets using both blockchains and off-chain decentralized cloud technologies.
"We need to go beyond layer 0 and 1 to build a robust decentralized web. The Aleph.im ecosystem is proving that Web3 can be decentralized, and we intend to keep going.”
Aleph.im raised $10 million in mid-January 2022, and Ubisoft uses its network for NFT storage. This is the first time a big-budget gaming studio has given users this much control.
It also suggests Web3 could work as a B2B model, even if consumers aren't concerned about “decentralization.” Starting with gaming is common.
Can Tokenomics help Web3 adoption?
Web3 consumer adoption is another story. The average user may not be interested in all this decentralization talk. Still, how much do people value privacy over convenience? Can tokenomics solve the privacy vs. convenience dilemma?
Holon Global Investments' Jonathan Hooker tells us that human internet behavior will change. “Do you own Bitcoin?” he asks in his Web3 explanation. How does it feel to own and control your own sovereign wealth? Then:
“What if you could own and control your data like Bitcoin?”
“The business model must find what that person values,” he says. Putting their own health records on centralized systems they don't control?
“How vital are those medical records to that person at a critical time anywhere in the world? Filecoin and IPFS can help.”
Web3 adoption depends on NFT storage competition. A free off-chain storage of NFT metadata and assets was launched by Filecoin in April 2021.
Denationalization and blockchain technology have significant implications for data ownership and compensation for lending, staking, and using data.
Tokenomics can change human behavior, but many people simply sign into Web2 apps using a Facebook API without hesitation. Our data is already owned by Google, Baidu, Tencent, and Facebook (and its parent company Meta). Is it too late to recover?
Maybe. “Data is like fruit, it starts out fresh but ages,” he says. "Big Tech's data on us will expire."
Web3 founder Kris agrees with Hooker that “value for data is the issue, not privacy.” People accept losing their data privacy, so tokenize it. People readily give up data, so why not pay for it?
"Personalized data offering is valuable in personalization. “I will sell my social media data but not my health data.”
Purists and mass consumer adoption struggle with key management.
Others question data tokenomics' optimism. While acknowledging its potential, Box founder Aaron Levie questioned the viability of Web3 models in a Tweet thread:
“Why? Because data almost always works in an app. A product and APIs that moved quickly to build value and trust over time.”
Levie contends that tokenomics may complicate matters. In addition to community governance and tokenomics, Web3 ideals likely add a new negotiation vector.
“These are hard problems about human coordination, not software or blockchains,”. Using a Facebook API is simple. The business model and user interface are crucial.
For example, the crypto faithful have a common misconception about logging into Web3. It goes like this: Web 1 had usernames and passwords. Web 2 uses Google, Facebook, or Twitter APIs, while Web 3 uses your wallet. Pay with Ethereum on MetaMask, for example.
But Levie is correct. Blockchain key management is stressed in this meme. Even seasoned crypto enthusiasts have heart attacks, let alone newbies.
Web3 requires a better user experience, according to Kris, the company's founder. “How does a user recover keys?”
And at this point, no solution is likely to be completely decentralized. So Web3 key management can be improved. ”The moment someone loses control of their keys, Web3 ceases to exist.”
That leaves a major issue for Web3 purists. Put this one in the too-hard basket.
Is 2022 the Year of Web3?
Web3 must first solve a number of issues before it can be mainstreamed. It must be better and cheaper than Web2.5, or have other significant advantages.
Web3 aims for scalability without sacrificing decentralization protocols. But decentralization is difficult and centralized services are more convenient.
Ethereum co-founder Vitalik Buterin himself stated recently"
This is why (centralized) Binance to Binance transactions trump Ethereum payments in some places because they don't have to be verified 12 times."
“I do think a lot of people care about decentralization, but they're not going to take decentralization if decentralization costs $8 per transaction,” he continued.
“Blockchains need to be affordable for people to use them in mainstream applications... Not for 2014 whales, but for today's users."
For now, scalability, tokenomics, mainstream adoption, and decentralization believers seem to be holding Web3 hostage.
Much like crypto's past.
But stay tuned.

Rishi Dean
3 years ago
Coinbase's web3 app
Use popular Ethereum dapps with Coinbase’s new dapp wallet and browser
Tl;dr: This post highlights the ability to access web3 directly from your Coinbase app using our new dapp wallet and browser.
Decentralized autonomous organizations (DAOs) and decentralized finance (DeFi) have gained popularity in the last year (DAOs). The total value locked (TVL) of DeFi investments on the Ethereum blockchain has grown to over $110B USD, while NFTs sales have grown to over $30B USD in the last 12 months (LTM). New innovative real-world applications are emerging every day.
Today, a small group of Coinbase app users can access Ethereum-based dapps. Buying NFTs on Coinbase NFT and OpenSea, trading on Uniswap and Sushiswap, and borrowing and lending on Curve and Compound are examples.
Our new dapp wallet and dapp browser enable you to access and explore web3 directly from your Coinbase app.
Web3 in the Coinbase app
Users can now access dapps without a recovery phrase. This innovative dapp wallet experience uses Multi-Party Computation (MPC) technology to secure your on-chain wallet. This wallet's design allows you and Coinbase to share the 'key.' If you lose access to your device, the key to your dapp wallet is still safe and Coinbase can help recover it.
Set up your new dapp wallet by clicking the "Browser" tab in the Android app's navigation bar. Once set up, the Coinbase app's new dapp browser lets you search, discover, and use Ethereum-based dapps.
Looking forward
We want to enable everyone to seamlessly and safely participate in web3, and today’s launch is another step on that journey. We're rolling out the new dapp wallet and browser in the US on Android first to a small subset of users and plan to expand soon. Stay tuned!

Julie Plavnik
3 years ago
Why the Creator Economy needs a Web3 upgrade
Looking back into the past can help you understand what's happening today and why.
"Creator economy" conjures up images of originality, sincerity, and passion. Where do Michelangelos and da Vincis push advancement with their gifts without battling for bread and proving themselves posthumously?
Creativity has been as long as humanity, but it's just recently become a new economic paradigm. We even talk about Web3 now.
Let's examine the creative economy's history to better comprehend it. What brought us here? Looking back can help you understand what's happening now.
No yawning, I promise 😉.
Creator Economy's history
Long, uneven transition to creator economy. Let's examine the economic and societal changes that led us there.
1. Agriculture to industry
Mid-18th-century Industrial Revolution led to shift from agriculture to manufacturing. The industrial economy lasted until World War II.
The industrial economy's principal goal was to provide more affordable, accessible commodities.
Unlike today, products were scarce and inaccessible.
To fulfill its goals, industrialization triggered enormous economic changes, moving power from agrarians to manufacturers. Industrialization brought hard work, rivalry, and new ideas connected to production and automation. Creative thinkers focused on that then.
It doesn't mean music, poetry, or painting had no place back then. They weren't top priority. Artists were independent. The creative field wasn't considered a different economic subdivision.
2. The consumer economy
Manufacturers produced more things than consumers desired after World War II. Stuff was no longer scarce.
The economy must make customers want to buy what the market offers.
The consumer economic paradigm supplanted the industrial one. Customers (or consumers) replaced producers as the new economic center.
Salesmen, marketing, and journalists also played key roles (TV, radio, newspapers, etc.). Mass media greatly boosted demand for goods, defined trends, and changed views regarding nearly everything.
Mass media also gave rise to pop culture, which focuses on mass-market creative products. Design, printing, publishing, multi-media, audio-visual, cinematographic productions, etc. supported pop culture.
The consumer paradigm generated creative occupations and activities, unlike the industrial economy. Creativity was limited by the need for wide appeal.
Most creators were corporate employees.
Creating a following and making a living from it were difficult.
Paul Saffo said that only journalists and TV workers were known. Creators who wished to be known relied on producers, publishers, and other gatekeepers. To win their favor was crucial. Luck was the best tactic.
3. The creative economy
Consumer economy was digitized in the 1990s. IT solutions transformed several economic segments. This new digital economy demanded innovative, digital creativity.
Later, states declared innovation a "valuable asset that creates money and jobs." They also introduced the "creative industries" and the "creative economy" (not creator!) and tasked themselves with supporting them. Australia and the UK were early adopters.
Individual skill, innovation, and intellectual property fueled the creative economy. Its span covered design, writing, audio, video material, etc. The creative economy required IT-powered activity.
The new challenge was to introduce innovations to most economic segments and meet demand for digital products and services.
Despite what the title "creative economy" may imply, it was primarily oriented at meeting consumer needs. It didn't provide inventors any new options to become entrepreneurs. Instead of encouraging innovators to flourish on their own, the creative economy emphasized "employment-based creativity."
4. The creator economy
Next, huge IT platforms like Google, Facebook, YouTube, and others competed with traditional mainstream media.
During the 2008 global financial crisis, these mediums surpassed traditional media. People relied on them for information, knowledge, and networking. That was a digital media revolution. The creator economy started there.
The new economic paradigm aimed to engage and convert clients. The creator economy allowed customers to engage, interact, and provide value, unlike the consumer economy. It gave them instruments to promote themselves as "products" and make money.
Writers, singers, painters, and other creators have a great way to reach fans. Instead of appeasing old-fashioned gatekeepers (producers, casting managers, publishers, etc.), they can use the platforms to express their talent and gain admirers. Barriers fell.
It's not only for pros. Everyone with a laptop and internet can now create.
2022 creator economy:
Since there is no academic description for the current creator economy, we can freestyle.
The current (or Web2) creator economy is fueled by interactive digital platforms, marketplaces, and tools that allow users to access, produce, and monetize content.
No entry hurdles or casting in the creative economy. Sign up and follow platforms' rules. Trick: A platform's algorithm aggregates your data and tracks you. This is the payment for participation.
The platforms offer content creation, design, and ad distribution options. This is platforms' main revenue source.
The creator economy opens many avenues for creators to monetize their work. Artists can now earn money through advertising, tipping, brand sponsorship, affiliate links, streaming, and other digital marketing activities.
Even if your content isn't digital, you can utilize platforms to promote it, interact and convert your audience, and more. No limits. However, some of your income always goes to a platform (well, a huge one).
The creator economy aims to empower online entrepreneurship by offering digital marketing tools and reducing impediments.
Barriers remain. They are just different. Next articles will examine these.
Why update the creator economy for Web3?
I could address this question by listing the present creator economy's difficulties that led us to contemplate a Web3 upgrade.
I don't think these difficulties are the main cause. The mentality shift made us see these challenges and understand there was a better reality without them.
Crypto drove this thinking shift. It promoted disintermediation, independence from third-party service providers, 100% data ownership, and self-sovereignty. Crypto has changed the way we view everyday things.
Crypto's disruptive mission has migrated to other economic segments. It's now called Web3. Web3's creator economy is unique.
Here's the essence of the Web3 economy:
Eliminating middlemen between creators and fans.
100% of creators' data, brand, and effort.
Business and money-making transparency.
Authentic originality above ad-driven content.
In the next several articles, I'll explain. We'll also discuss the creator economy and Web3's remedies.
Final thoughts
The creator economy is the organic developmental stage we've reached after all these social and economic transformations.
The Web3 paradigm of the creator economy intends to allow creators to construct their own independent "open economy" and directly monetize it without a third party.
If this approach succeeds, we may enter a new era of wealth creation where producers aren't only the products. New economies will emerge.
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