Ride the wave of trends in the creator economy

This article is also available in Vietnamese.

Over the past decade, we have witnessed an incessant rise in the global creator economy. More than 50 million independent content creators, including influencers, bloggers, designers, videographers, etc., have been making a name for themselves on diverse content platforms and yielding a steady income.

To craft content that resonates, creators are expected to exhibit their creativity while aligning themselves with and becoming integrated to the current trends on each social platform. Let's take a look at the emerging trends shaping the ever-evolving creator economy that creators and influencers should stay on top of!

Amid uncertainties caused by Covid-19 in Vietnam and around the world, most entertainment activities have gone virtual. Backed by technological advancements and social media, creators are empowered to enhance their presence and grow their channels across platforms in a safe, convenient, but by no means unappealing way.

Accordingly, consumers' content consumption trends also experienced formative shifts:

🔹 Increased interest in watching YouTube tutorials, with most commonly searched topics covering business, fashion, beauty, fitness, cooking, studying, etc.

🔹 Idea discovery through popular keywords: According to a Pinterest report in 2020, searches for popular keywords soared. “Photography ideas” (increased 56 times), “Bedroom ideas” (increased 5 times), “feng shui bedroom layout” (increased 2,5 times),… are some of the top searches on this photo and video sharing platform.

🔹 Music and entertainment events taking place online: Despite challenges, artists who performed through live streaming without the audience's cheers for the first time were able to offer unique viewer experiences and maintain stable income even during the restrictive pandemic situation. In Vietnam, popular events include Lazada Super Party - an online birthday concert, Tiger Remix 2021 - a virtual reality concert. On a global scale, TikTok’s Black Music Month live stream performances and Maroon 5's American Express UNSTAGED 2021 concert are some of the most outstanding events.

These trends are becoming the new normal for viewers. Pandemic or not, advertisers need to shift their focus to building interesting and inspirational platforms for creators.

Riding on this wave, user groups with endless ideas and unique personalities play a game-changing role.

Millennials and Gen Z

Millennials (born from 1981 to 1996) and Gen Z (born after 1996) are the main audiences on content platforms. They spend a significant amount of time on these platforms for entertainment and personal growth, especially Gen Z, also known as the generation of "digital natives" who are proficient in generating content on digital media. This user group is full of confidence, energy, and an unwavering need for self-expression, having garnered attention through numerous positive content in the community.

Accordingly, advertisers can alter the way they interact with the new generations of users, leveraging these insights:

Mobile devices and digital platforms are the go-to for information, entertainment and connection.
Consumers highly value influencers’ opinions in their decision-making. Therefore, Influencer Marketing presents a golden opportunity for advertisers to connect with customers effectively.

Nano- and Micro-Influencers

Only the right influencers can bring out the best in the promoted products and effectively convey brands’ messages. Adopting the "The smaller, the better" motto, advertisers turn to influencers with smaller followings but an unmatched level of reliability and intimacy with customers, compared to celebrities and macro-influencers.

Outstanding creators of Yam Live

Lader & Fohr's 2019 report has shown that nano-influencers receive the highest engagement (about 7%) despite the relatively small number of followers. Partnering with nano- and micro-influencer can help brands optimize their marketing budgets and disseminate content relevant to young audiences, as most nano- and micro-influencers are Gen Z themselves. They are true storytellers whose content covers diverse topics, namely music, food, travel, lifestyle, etc.

On the same note, young users love to see influencers in their element, showing their authentic self and honest opinions. With that in mind, advertisers can tactfully communicate brands’ messages in influencers’ voices to conquer customers. One popular approach is the KOC (Key Opinion Consumer) strategy, where brands partner with influential consumers, also nano-influencers with a following of 2,000 - 10,000 people.

At the heart of the Influencer Marketing phenomenon comes Yam - an upcoming platform for fans and creators to jump on the bandwagon of trends creating and popularizing. For now, Yam focuses on assisting creators in forming a solid foundation to yield the best results once the app is released.

As a member of ME Group, Yam brings to the table a creative space for creators and influencers to make a mark and become real entrepreneurs in the creator economy. In collaboration with Schoolab - a renowned research company in Europe and the U.S., Yam has acquired a detailed, in-depth understanding of the potentials and obstacles that Vietnamese creators face.

To compete with players in the market, Yam intends to leverage its four strengths by:

🔸 Ensuring user authentication: Users registration is required on Yam, minimizing the presence of "haters" or fake users in the community. Yam prefers active users, although in smaller numbers, to large quantities of inactive accounts on the platform.

🔸 Encouraging interaction: Yam focuses on fostering meaningful interaction among users and influencers. Rather than using view count as a content metric, influencers can ensure that each view and follow on Yam brings real value, helping to disseminate brand messages via personalized experiences instead of mass marketing.

🔸 Spreading interesting and useful creative content: Besides entertaining content, Yam is also the hub of inspiration for creators and users to discover new hobbies, passions, or even career paths. The platform helps to nurture and amplify positivity amid these challenging times.

For instance, you can easily find reputable Yoga instructors and join online classes, gradually getting used to working out at home and becoming less dependent on gym equipment. Adapting to the "new normal", users can learn new things in the most flexible, convenient and financially optimized way through the screen.

🔸 Providing marketing opportunities harnessing the power of Influencer Marketing: By making intimate, authentic connections with the audience, influencers and creators can help advertising campaigns reach the right customers while ensuring the branded content represents their own lifestyles and personalities.

Stay tuned for Yam’s upcoming launch!

Representative from Schoolab - Mr. Pierre Rault, Service Designer & Head of Innovation Programs Vietnam, commented: “When we started to work on the research and development Yam Live, it was really surprising (positively) to see that its founders really wanted to take the time to clearly understand the challenges and opportunities of Vietnam's market to develop a tailored for content creators and content consumers. To ensure its success, we allocated a multi-disciplinary team, combining Schoolab Technical Director and serial entrepreneur in Paris, a service designer, UX/UI designer and Growth marketer, working hands-in-hands with Yam Live technical team and co-founders through weekly work sessions.".

“I think Yam’s approach is a great power shift that will ultimately help creators who create less, better quality niche content to reach a new level of independence”, adds Pierre Rault.

Conclusion

Hopping on current trends and new content consumption habits, Yam promises to pave the way for community-building among influencers and creators of all tiers. The platform also acts as the catalyst for lucrative relationships between advertisers and rising creators, empowering advertisers to invest and experiment with new branding strategies.

Let's countdown to the exciting launch of Yam - the new but strong player in the content creation playground!

Creators, KOLs, Influencers who are interested in joining can follow Yam's official channels and contact Yam for more details:

Email: [email protected]

Facebook: https://www.facebook.com/YAM-live-103052518193531/

Website: https://yamlive.vn/