Difficult to monetize as micro-influencers or followers in e-commerce
More and more monetization options are being made available by social media platforms across the globe. It helps creators earn money, build a meaningful business, and achieve their financial goals. And most importantly, it shows that the creator's efforts are appreciated and valued.
Unfortunately, there is a flip side. The monetization options are often eligible only for a certain number of creators. The requirements for monetization through advertising on top social media platforms such as YouTube, Facebook have been leveled up, requiring a creator's channel to have at least thousands of followers and hours of watch time per year. This makes monetization options exclusive. Some micro creators who are just starting out will miss out on this opportunity due to their audience number and view time.
Moreover, big-name influencers and celebrities with millions of followers are expensive to hire and don't always make the best hosts. In contrast, using influencers with a few thousand dedicated followers can generate a more intimate and trusted connection with the audience at lower cost. The engagement rates for micro & nano-influencers are also higher than those of mega & macro-influencers.
While some big social media platforms are focused on unlocking opportunities for creators to make money from their works with subscription models, there is none of them focusing on rewarding fans or followers for their participation. Fans are the ones who are eager to support their favorite influencers for many reasons such as they believe in KOLs' mission, they want more opportunities to connect with KOLs, they want access to exclusive content, or even they want to monetize their support to KOLs. Therefore, finding a fair way to share benefits with the supporters is also a key to help KOLs and brands to foster their community.