Diversifying Your Content Creation Business: Why You Shouldn't Rely on One Platform
Are you building your content-making business on just one platform, like YouTube or Instagram? If so, you need to find new ways to make money before it's too late. Even though it might seem like a good idea to put all your efforts into building a big following on one platform, it's actually a risky move that could leave you open to algorithm changes or even the platform shutting down.
According to a report from eMarketer, 51.9% of marketers think that email is the best way to keep customers coming back. So, if you're only relying on social media platforms to build your audience and reach your customers, you could be missing out on a huge opportunity to build a loyal following through email marketing.
But email marketing is just one way that diversifying your content creation business can help you grow and succeed. Let's look at a few more reasons why you shouldn't just use one platform.
Changing your business's algorithms can hurt it.
If you only use one platform, algorithms could change, which is one of the biggest risks. Algorithms are a set of rules and calculations that tell the platform how to show content to users. When algorithms change, it can affect your business in a big way. For example, YouTube recently changed its algorithm so that it gives more weight to videos that keep people on the site longer. This means that users are more likely to be told to watch videos that are watched for longer and have a higher rate of users who stay on the site. If your content doesn't meet these standards, your views and engagement could go down.
Platforms can come to an end.
Another risk of relying on one platform is the possibility of the platform shutting down altogether. While it might seem unlikely, it has happened before. Remember Vine? The platform was hugely popular among content creators, but it shut down in 2016, leaving many creators scrambling to find a new home for their content.
You're missing out on new audiences
By focusing solely on one platform, you're missing out on opportunities to reach new audiences. For example, if you're only on Instagram, you're missing out on the potential of reaching a younger audience on TikTok. By putting your content-making business on more than one platform, you can reach more people and reach out to new audiences.
You're limiting your potential revenue streams
Lastly, relying on just one platform can limit the ways you can make money. For example, YouTube's monetization policies can be difficult to navigate, and many creators struggle to earn a significant income from the platform. By diversifying your content creation business, you can explore new revenue streams, such as affiliate marketing or selling digital products. So, what can you do to diversify your content creation business?
Build an email list
Email marketing is one of the best ways to gain loyal customers and keep them coming back. By building an email list, you can talk to your audience directly and keep them interested in what you have to say. You can add people to your email list by giving them something for free, like an ebook or course, in exchange for their email address.
Start a podcast
Podcasts are a growing medium for content creators. They allow you to share your voice and personality with your audience and can be a great way to build a loyal following. To start a podcast, you'll need to invest in some basic equipment, such as a microphone and recording software, but the potential rewards are well worth it.
Explore other social media platforms
Don't limit yourself to just one social media platform. Experiment with other platforms, such as TikTok or LinkedIn, to reach new audiences and diversify your content. Keep in mind that each platform has its own strengths and weaknesses, it's important to tailor your content to the platform and its audience.
Launch a blog
Blogging is another effective way to diversify your content creation business. A blog allows you to showcase your expertise, share your thoughts and ideas, and drive traffic to your website. To launch a blog, you'll need to choose a domain name, select a blogging platform, and create content that provides value to your audience.
Sell digital products
Finally, diversifying your content creation business can also mean exploring new revenue streams. Selling ebooks, courses, or printables can be a great way to make money from your content and build a loyal audience. To sell digital products, you'll need to create high-quality content that provides value to your audience and promote your products effectively.
Diversifying your content creation business is essential if you want to succeed in the long-term. By relying on one platform, you're putting your business at risk and limiting your potential for growth and success. Instead, try out new platforms, build an email list, start a podcast, start a blog, and sell digital products to reach more people and build a loyal following. With the right strategies and tactics, you can diversify your content creation business and achieve long-term success.