The creator ecosystem is experiencing a period of dramatic change.
Creators and influencers are rapidly re-writing the world of branding, e-commerce, and entrepreneurship. For those in the business of helping individuals establish an online presence, this shift presents a major opportunity worth pursuing.
The state of the creator economy
Remember when Instagram was for sharing photos that made your friends jealous? And Facebook was for detailing every mundane aspect of your day? Now these platforms are all about selling. Some 71% of Facebook and Instagram users have taken shopping action as a result of seeing content posted by a creator. (YouGov Study, 2021)
With ever-expanding demand, the amount of opportunity for those getting into this field is staggering. Research published by Zippia in early 2023 estimated there are “50 million people contributing to the creator economy.” The same report stated that the “global creator economy is estimated to be worth $104.2 billion.”
According to Insider Intelligence, the size of the creator community might, in fact, be underestimated. “An August 2022 study by Adobe suggests that the number of creators could be much higher, at 303 million.” The amount of money involved could then, realistically, be several multiples of $104 billion. These are astonishing numbers.
New tools for a new market
New services and tools have been introduced for this already massive (and growing) market. And we’re not just talking ring lights (although, it’s telling that the market for ring lights will “register exponential growth at 14% CAGR between 2021 and 2031” according to Future Market Insights). One of the major trends emerging within the creator economy is the popularity of link aggregation services–often referred to as “link in bio” tools. Dozens of these tools have popped up, such as LinkTree, LNK.bio, Tap.bio, and Beacons. But why have these tools skyrocketed in popularity?
For both established and aspiring content creators, it is best practice to have profiles across multiple platforms. Not only is it essential for audience-building, but not doing so effectively means leaving money on the table. Each social media platform has its own revenue-sharing programs, and they frequently change. By spreading their work far and wide, creators can better protect themselves–and their revenue–against platform volatility.
This is where “link in bio” tools come in handy. They enable creators to generate a single web page that contains links to all of their content and profiles across platforms. By placing the link to this page in their bio, they can quickly direct their audience to all of their content. This also presents a powerful monetization opportunity. Creators can easily link out to revenue-driving pages–such as storefronts, merch stores, affiliate links, etc.–thereby generating incremental income.
How to attract, support, and retain content creators as customers
The growth in popularity of “link in bio” tools also presents an exciting opportunity for service providers that offer domain names. But, in order to effectively capitalize on this growing market segment, they need to be prepared to attract and support content-creator customers. They can do so in a few different ways:
One option is to provide a simple link aggregator service. By doing so, service providers can streamline the “link in bio” creation process for their customers. Rather than having to set up an account on a separate platform, creators can quickly and easily buy a custom web address and set up their “link in bio” in one spot. This cuts out the “middleman” and decreases friction in the setup process.
Service providers can also consider exploring integrations with third-party providers to make their service more appealing to content creators. Creators are likely to be interested in services that help them better monetize their content. For example, tools for creating custom merch, setting up a digital storefront, or allowing followers to pay to access additional premium content. By offering these add-ons, you can establish yourself as a one-stop shop for creators.
Additionally, you can help creators build credibility with custom web addresses. As “link in bio” tools become increasingly popular amongst creators, so too do custom web addresses. They enable creators to better reflect their personal brand while aggregating their content. This also helps better position them for lucrative brand partnerships. Something as simple as having a customized “link in bio” shows that they are invested, both personally and financially, in their own work. That they are serious about turning content into a legit business. And that they are someone a brand would want to partner with.
With all eyes on one link, the web address a creator chooses is more important than ever. And, given the prevalence of the phrase “link in bio,” it makes sense that many are opting to adopt a .bio web address. It’s short, relevant, and to the point. With .bio, creators can pick something that truly represents their personal brand and online presence. And, given the immense growth in .bio registrations, there is a significant opportunity for service providers to capitalize on .bio and engage the rapidly-expanding creator economy. By helping content creators grab the perfect domain name when they’re getting started, you’re setting yourself up to be their go-to for other services as their needs and business evolve.
.bio is available to resellers now through Tucows. If you’re interested in adding .bio to your TLD offering, but have a few questions reach out to us.
This post was sponsored by Identity Digital, the registry behind the .bio TLD.