This article is also available in Vietnamese.
However, the sole dependence on supporting funds can not make content creating the main source of income for creators. Many struggles to make a name for themselves and connect with advertisers to unlock lucrative opportunities. What can bridge this gap between creators and advertisers?
The growing prevalence of social media and OTT platforms opens up unprecedented opportunities for creators to turn content into stable revenue streams. Yet, their attempts at content monetization can meet with certain difficulties.
First, creators are often under-compensated on online platforms. According to a 2018 Fortune report, the 3% most viewed channels on YouTube only receive $16,800 per year from ads revenue, while the remaining 97% gain even less. YouTube, for example, retains 45% of ads revenue from videos made by creators who have joined the Partner Program, and 100% from channels that haven't reached 1,000 subscribers and 4,000 watch hours to be qualified to join. The constraints and functionalities of these online platforms make monetizing even harder.
Creators also face the dilemma of staying authentic or professionalizing their content to appeal to advertisers. This is premised on the myth that relationships with advertisers and marketers can only be made at the expense of creative freedom. However, Filestack’s 2021 State of User-Generated Content report has shown that authenticity and quality in content are equally appreciated by 60% of surveyed marketers.
The notion that relationships with advertisers and marketers can only be made at the expense of creative freedom is a common myth. (Photo: Jenny Ueberberg / Unsplash)
Another obstacle presents when small and new creators are met with the lack of tools and consultancy to generate effective content and build a personal brand. Problems in optimizing their resources, crafting plans targeting the right viewers, creating content that sells, etc. are just a few of creators’ struggles when it comes to growing sustainably.
In light of these problems, fan-to-creator platforms like Patreon, OnlyFans, Substack, etc... are highly profitable alternatives. In Vietnam, however, only a few online platforms can provide the necessary tools for creators to truly become independent entrepreneurs.
For Influencer Marketing campaigns to work in their favor, advertisers need to select the right creators and via them, form authentic connections with consumers.
Advertisers’ selection process involves several stages, from shortlisting potential candidates, researching their audience, assessing their performance to finalize the contract. Numerous data sources and third parties can be involved throughout the process, making these collaborations rather complex and time-consuming.
Numerous data sources and third parties can be involved in the partner selection process. (Photo: Stephen Dawson/Unsplash)
Once partnered, advertisers have to make sure the branded content can reach the right viewers at the right time. Findings from SmarterHQ have shown that 72% of consumers only interact with personalized content, whereas 63% would stop buying from the brand entirely if its personalization strategy is not working. As no one understands the audience better than the creators themselves, advertisers should empower them to generate content reflective of their creativity and personality.
Indeed, many advertisers are giving creators the full autonomy to develop and circulate their branded content. They shift the focus to finding platforms that foster community-building and lead them to the right creators.
Taking shape at the intersection of creators’ need for content monetization, advertisers’ changing expectations, and the rise of fan-to-creator platforms within the industry, Yam brings to the table a practical solution.
As the newest member of ME Group, Yam offers an open space for creators to express themselves creatively and cultivate a community of followers. Yam will be the go-to playground for fans to support their favorite creators financially and immerse in quality trending content.
For creators, Yam enables them to monetize their content fairly and ethically. Creators receive nearly 80% of the total earnings from fans’ membership and will be assisted with transaction fees and procedures. In short, Yam helps to turn creators into independent entrepreneurs via:
Sharing his experience with Yam, artist TUNG (Nguyen Bao Tung) said: "Yam brings me closer to my fans thanks to its appreciation for creative freedom. In this open space, I can create content that doesn’t follow mainstream standards. Instead, unfinished demos, friendly updates on upcoming plans, or intimate talks with fans about music are all encouraged. Yam’s model alleviates the pressure to win brand deals and sponsorships for artists as it facilitates crowdfunding and other income sources”.
Tung’s storytelling series titled “TreeTalks” in collaboration with Yam.
On the advertisers’ side, Yam provides a comprehensive overview of creators for advertisers to choose the right partners and collaborate effectively. Created by Vietnamese for Vietnamese creators, Yam is positioned as a regulated, legal social network that fosters meaningful collaborations by:
Eliminating the barriers between content creators and advertisers step by step, Yam is promised to open up a land of lucrative opportunities. Empowered by Yam to become true entrepreneurs, creators can fire on all cylinders and bring their unique colors to the digital content scene in Vietnam.
Yam’s exciting debut is just around the corner, stay tuned for more surprises on their way!
Creators, KOLs, Influencers who are interested in joining can follow Yam's official channels and contact Yam for more details:
Publisher: Advertising Vietnam
Content: Hien Phuong
Design: Dat Dang