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Creator Economy Scoop: Pinterest as an internet oasis

Here's this week's roundup of industry news
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April 15, 2024

The Creator Economy Scoop is a roundup of the weekly news, data and trends that are defining the industry. (graphic by Lindsay Hill)

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YouTube launched new shopping features, Meta is leveling up Messenger and a Beyonce country album means cowboy aesthetics are dominating Instagram. Here’s the rest of this week’s scoop: 

‍Quick numbers 💯

30 billion hours of shopping related videos were watched on YouTube in 2023 [1]

55% - YouTube gives up 55% of every ad dollar it generates to content owners who upload videos [2]

21% of 18- to 24-year-olds start their search with with TikTok, while 5% start on YouTube [3]

75% of marketers rely on third-party cookies worldwide [4]

What you should know  ☕

Instagram university newsletter: Spring trend forecast

  • Country aesthetic is stronger than ever—flooding our feeds from @dualipa @sza @bellahadid and @camilla_cabello
  • Return of the 2010s— OG filters like Valencia and X-Pro II are back and people are posting square posts

Social Media Week TLDR

  • Social listening is where the magic happens
  • The future of social is niche communities
    • Brands like Tory Burch are leaning into the actively engaged superfans on platforms where they can connect without an algorithm getting in the way.
  • Things are getting political whether or not creators and brands are ready for it
  • “You know what I really like? Pinterest. I’ve got a lot of stuff saved. I deleted Instagram and Twitter on my phone. I have TikTok and  I have Pinterest… Puppies, breakfast, workout videos, and bootie shorts. I see all the content I want to see,” Megan Thee Stallion

Paramount is considering a VidCon sale

Consumers worldwide prefer online over in-store search

  • 72% of consumers almost always or mainly searching for electronics online
  • When it comes to purchasing, consumers also buy electronics (55%), clothing (54%), and toys, books, and games (52%) always or mainly online

Dove pledges to never use AI in its advertising

  • For Dove, real beauty means no artificial intelligence
  • Unilever brand pledges to never use AI in its advertising to portray real people
  • 73% of women feel more pressure to be beautiful than they did eight years ago

Dude Perfect raises more than $100M in investment

The state of influencer-brand deals 2024

  • US marketer spending on sponsored content on social media will rise by 16.0% this year to $8.14 billion.
Social platforms 📲

Meta  📸

  • Meta announced new features in Messenger conversations, including high def images, shared albums with friends and the ability to send files up to 100MB

‍YouTube  📹

  • YouTube launched new shopping features:
    • Affiliate Hub which lists Shopping partners, commission rates, promo codes, and enables creators to request samples from brands
    • Shopping Collections which allows creators to curate their own virtual stores
    • Creators can now connect their Fourthwall shop

TikTok ⏰

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A graphic displaying an iphone in a bubble, and a hand with a pin about to burst that bubble

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Home
Creator Marketing

Creator Economy Scoop: Pinterest as an internet oasis

April 2024

YouTube launched new shopping features, Meta is leveling up Messenger and a Beyonce country album means cowboy aesthetics are dominating Instagram. Here’s the rest of this week’s scoop: 

‍Quick numbers 💯

30 billion hours of shopping related videos were watched on YouTube in 2023 [1]

55% - YouTube gives up 55% of every ad dollar it generates to content owners who upload videos [2]

21% of 18- to 24-year-olds start their search with with TikTok, while 5% start on YouTube [3]

75% of marketers rely on third-party cookies worldwide [4]

What you should know  ☕

Instagram university newsletter: Spring trend forecast

  • Country aesthetic is stronger than ever—flooding our feeds from @dualipa @sza @bellahadid and @camilla_cabello
  • Return of the 2010s— OG filters like Valencia and X-Pro II are back and people are posting square posts

Social Media Week TLDR

  • Social listening is where the magic happens
  • The future of social is niche communities
    • Brands like Tory Burch are leaning into the actively engaged superfans on platforms where they can connect without an algorithm getting in the way.
  • Things are getting political whether or not creators and brands are ready for it
  • “You know what I really like? Pinterest. I’ve got a lot of stuff saved. I deleted Instagram and Twitter on my phone. I have TikTok and  I have Pinterest… Puppies, breakfast, workout videos, and bootie shorts. I see all the content I want to see,” Megan Thee Stallion

Paramount is considering a VidCon sale

Consumers worldwide prefer online over in-store search

  • 72% of consumers almost always or mainly searching for electronics online
  • When it comes to purchasing, consumers also buy electronics (55%), clothing (54%), and toys, books, and games (52%) always or mainly online

Dove pledges to never use AI in its advertising

  • For Dove, real beauty means no artificial intelligence
  • Unilever brand pledges to never use AI in its advertising to portray real people
  • 73% of women feel more pressure to be beautiful than they did eight years ago

Dude Perfect raises more than $100M in investment

The state of influencer-brand deals 2024

  • US marketer spending on sponsored content on social media will rise by 16.0% this year to $8.14 billion.
Social platforms 📲

Meta  📸

  • Meta announced new features in Messenger conversations, including high def images, shared albums with friends and the ability to send files up to 100MB

‍YouTube  📹

  • YouTube launched new shopping features:
    • Affiliate Hub which lists Shopping partners, commission rates, promo codes, and enables creators to request samples from brands
    • Shopping Collections which allows creators to curate their own virtual stores
    • Creators can now connect their Fourthwall shop

TikTok ⏰

‍

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Creator economy scoop: Pinterest and luxury brands

In this edition, we explore Pinterest as the go-to platform for luxury brands, the disparity in pay between BIPOC and non-BIPOC creators, and the relationship between fans and creators. We also explore some influencer trends to look out for in 2024, and share a creator spotlight about an inspiring adventurous creator.

Creator economy scoop: How many ads are on TikTok?

In this edition, we explore TikTok's current ad landscape, the ways the FTC is tightening regulations for creators in the nutrition space, and much more.

How to build the right creator roster in 2023

With the way the social media landscape constantly changes (we see you Threads and X), brands need a bit more predictability when working with creators that are on these platforms. In a recent conversation with Ashley Riske, #paid’s Head of Creator Partnerships, she shed light on the key aspects of working with creators and debunked several misconceptions associated with the process.

Why enterprise companies hire celebrity and influencer partners

It's 2023, and everyone wants more. As a marketer, you know that a star-studded collaboration should yield more than a few viral Instagram posts. To open hearts (and wallets), you need a strategic approach. Enterprise companies know this to be true, and as such, they’re getting strategic with celebrity and influencer partnerships.

How Twitter is opening a new space for creator marketing

More emphasis on Twitter videos could potentially create a whole new space for Twitter creator marketing—and launch Twitter as a bona fide video platform on par with YouTube and TikTok. Here’s how.

What developments in AI means for the creator economy and how to stand out amongst the noise

What do Ryan Reynolds, Martini, Nestle, and McDonald’s have in common? They’ve all used the latest and greatest technology trends to create, support, or distribute campaigns.The technology? Artificial Intelligence (AI).

L’Oreal puts a rosy spotlight on mature creators (and more brands need to do the same)

Data shows that use amongst the Gen X cohort specifically (aged 43 to 58 years old in 2023) is one of the fastest-growing audiences on the platform. The same could be said for Facebook and how many Gen X users use the site today while younger generations have moved on to other platforms.

What TikTok can do for your brand and how to create content for TikTok’s algorithm

TikTok is the fastest-growing social media platform thus far, reaching the coveted one billion monthly active users just four years after its international release. (For context, it took Facebook nearly nine years and Instagram nearly eight years to hit that milestone.)

The era of entertainment marketing is here: Tracking the right metrics will help you stand out

TikTok is the champion of entertainment marketing. This is mainly because TikTok viewers are clinging to short video content as a primary form of entertainment, especially in the face of inflation.

Tear a page out of "The Last of Us" marketing strategy

A modern digital campaign for a TV show comes with a familiar checklist. Using trending songs or sounds on TikTok? Check. Diced-together compilations of the show’s greatest moments? Check. Same old, same old? Check, check.Yet the biggest name in TV this year—HBO’s “The Last of Us”—is raising eyebrows because of what it didn’t do. Some of their best social media marketing has bucked the trends. Instead, they’re starting with a new premise:

When influencer-led brands fail

It’s proven that including influencers in a brand’s marketing strategy equals sales: Statista reports the value of influencer marketing alone is worth over $16 billion, while a study done by the Harvard Business Review found that on average, a 1% increase in influencer marketing spend leads to an average 0.46% increase in engagement.

OOH and Ahh: Brands leveraging creators in out-of-home (OOH) ads

Big brands come with big-time leverage. That’s an advantage with creator marketing, where large companies can throw hefty budgets at creators with plenty of followers. Take the History Channel, which launched a “Stay Curious” campaign with NeoReach. The result? A campaign with 12.2 million views, growing the History Channel’s TikTok account to 50,000 followers shortly after launch.

Is Tumblr making a return?

Tumblr, a social network with a unique microblogging platform, was unveiled by David Karp in 2007. For anyone who signed up, creating a distinctive space on Tumblr was (and still is) easy, thanks to the platform's user-friendly interface and customizable templates. 

Is Instagram still worth your time?

Breaking news: an app with 1.22 billion active users ... is apparently dead.Okay, technically Instagram is still up and running. But there are many who don’t see Instagram as the app of the future. As The Atlantic notes, “everyone’s over Instagram.” 

The top women innovating in the influencer economy

It’s not always easy to be a woman in today’s creator economy. Sometimes, it can feel a bit…crowded. After all, there are over 200 million creators in the world today, and according to ConvertKit, nearly two-thirds of them are women. It’s easy to look around at all of the creators and believe that all of the “good” niches have been gobbled up by now. Of those creators who have already monetized their business, the numbers go up: about 77% are women. 

Dissecting the deinfluencing trend: Should brands be worried?

In recent weeks, the trending #deinfluencing hashtag garnered millions of views on TikTok. But what is deinfluencing, and do brands need to be worried about it?

How and why luxury fashion brands are focusing on sustainable alternatives

Luxury fashion has a problem. According to McKinsey, the industry is responsible for over $2 billion in greenhouse gas emissions every year. That’s roughly 4% of the world’s total output.

How legacy brands can market effectively with influencers

You’d be surprised. Influencer marketing isn’t always a strategy for borrowing name recognition from celebrities. Legacy brands have big budgets and decades of goodwill already working for them. 

SEO for social media (Yes, social media)

According to Google SVP Prabhakar Raghavan, “something like almost 40% of young people, when they’re looking for a place for lunch, they don’t go to Google Maps or Search.” Instead, said Raghavan, they turn to “TikTok or Instagram.”

Ugly ads don’t mean bad ads: Try these expert tips for high-intent ads

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Beauty brands are (Finally) turning to male influencers

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Does it still cost 5X more to acquire customers than to retain them in 2023?

The “5x rule” is a beloved stat, tracing its roots to sources at Bain Capital. But here’s the thing: the stat is…well, kind of old. We’re talking 2014. Possibly even earlier. 

Creator success case study: Hyundai and Culture Brands

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This year’s Super Bowl creator-marketing wins that brands should emulate for next year

Brands choosing to partner with America’s favorite celebrities is almost a bigger tradition than the Super Bowl itself. In the past, we’ve seen ads from Dolly Parton, Timothée Chalamet, and Will Ferrell. This year, like in previous years, there was no shortage of A-list celebrities placed front and center of the most coveted advertising slots. Celebrities ranged from Serena Williams, Alicia Silverstone, Melissa McCarthy, Bradley Cooper, and John Travolta.

Six creator couples share how they work together while in a relationship

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How creators and influencers over 40 are carving out a space on social media

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Amazon influencer program secrets: Why UGC creators need to get started now!

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HOORAE’s Tiana Harris on their partnership with Walmart

Black creators, despite their talent and often being the main drivers of social media trends, are often overlooked for partnership opportunities with brands. Naturally, this oversight has led to a gap in which Black creators have less access to paid opportunities or even visibility on social media and other creator platforms.

The rise of the LinkedIn influencer (and what it means for the creator economy)

Most people might not group LinkedIn with mega-creator platforms like YouTube and TikTok. TikTok is the exciting new kid on the block, rocket-blasting from $82 million in revenue in the third quarter of 2019 to $1,567 billion three years later. YouTube has been around longer, but its status as the world’s top video-sharing network makes it a titanic platform for any influencer.

What responsibilities do sustainable brands have to educate without alienating customers?

Striking a balance between creativity and appealing to customers is often a tenuous one for marketing teams.Add in the massive competition for traffic and sales, and you might find a brand or two swinging for the fences only to end up striking out spectacularly.

What is the future of the creator and influencer economies?

Combining niche marketing insights with powerful creators has been a boon to marketers. That’s why the creator economy reached over $100 billion in the middle of 2022. And now, 75% of marketers use it to one degree or another.

Short-form video: How influencers are tackling ever-decreasing attention spans

The average attention span is shrinking. In fact, a recent Microsoft study found that our attention span is down to about eight seconds or less. This extends to attention spans while browsing the web. And in the creator economy, those eight seconds are precious currency.There’s no doubt that in recent years, short-form video has either created this trend or capitalized on it. And it’s officially a trend creators can’t afford to ignore. 

The role of creator marketing and influencers in the B2B world

Since creator marketing is so successful in the DTC world, it follows that marketers would wonder if the B2B world also lends itself well to success with creator marketing.

Content not performing? How to create platform-native content that drives results

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Influencers are changing the niche fragrance game

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How Nibble and its AI-powered chat is impacting eCommerce

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What influencer trends should you follow in 2023?

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Where are brands finding new talent? Hint: It’s not LinkedIn

There’s been talk about ‘Quiet Quitting’ and the ‘Great Resignation’ over the last two years, which means brands wanting to fill positions and needing employees have to take a good, hard look at what they’re offering how they’re reaching potential candidates.

Want to work with effective creators and influencers? Get them to opt-in

Content creators are worth their weight in gold when the relationship is authentic. And while you might get lucky reaching out to creators who are fans of the brand and willing to provide content for your different marketing channels, there’s a more effective way to get creators on board who will bring the excitement and authenticity you want (and need): getting them to opt-in.

Top influencer marketing trends for 2023

2022 was a successful year for influencer marketers, and things are looking up in 2023 as well. While influencer marketing and creator partnerships will help brands grow and capture more sales, it’s also essential to keep a pulse on marketing, influencer, and industry trends.

How marginalized creators are using “algospeak” to bypass the algorithms and reach wider audiences

It’s known as “algospeak,” and its premise is simple. Some online platforms use algorithms to censor or ban content by seeking out key phrases. Creators find sneaky ways of not saying those phrases while still getting their basic meaning across to their audience. Algorithms becomes Al Gore Rhythms. Dead becomes unalive. Sex becomes seggs. It’s not just a snarky way to avoid TikTok or Twitter dinging your content and sending you to the digital equivalent of a timeout. For some, it’s a necessity. One study examined how “social media work is not just materially concealed, but rendered socially invisible through its lack of … marginal status.” 

Five examples of viral creator-brand ad collabs

Come launch time, brand and creator collaborations have a way of looking effortless. From product names to color palettes, it’s as if the brand and creator were made for each other. A look behind the scenes, however, shows that success is no accident.

Retail and eCommerce trends for 2023

Did you know that more than half of the world’s eCommerce transactions take place in China? Commerce trends largely have taken hold in Asia first and then slowly made their way west.

TikTok trends from A-Z for 2023

Well, TikTok is the “it girl,” right? And if there is anything an “it girl” knows, it’s trends. Brands that ride the wave of the TikTok trends get the most out of the platform and see positive results. Brands that don’t flounder in cyberspace.Lucky for you, I spend a healthy portion of my day researching TikTok trends, so you don’t have to. Here are the top 26 TikTok trends moving into 2023 from A to Z. (Let’s get cute about this…just like TikTok did.)

Joy Ofodu: From full-time Meta employee to full-time content creator

Since the pandemic, there seems to be a cultural shift in how the world views the overall idea of the full-time job. For many, there were water cooler chats, post-work team-building activities, meetings that really could have been an email, and many minutes spent commuting to and from the office. Now, time is more valuable than ever, and the desire to have a work-life balance, flexibility in schedule and environment, and the space to pursue creative passion projects outside of work is becoming more and more palatable.

What we can learn from China’s commerce trends

China’s leading tech innovation is a top reason for its place as a global commerce leader. Many of the world’s most popular social media and commerce platforms started in China first and then moved westward.

Dentist goes viral on TikTok, showing the fun side of oral health care

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These top pickleball influencers are helping the sport’s growth in popularity

While it might seem like pickleball is a come-and-go trend, more akin to cold bucket challenges and “is it real or cake?” videos, pickleball is a trend with staying power. In the world of viral hits and short-lived fads, that’s unique to both sports and TikTok.

How to grow your TikTok following, as highlighted by Alex Friedman and her 77K followers

TikTok is one of the most powerful tools to build a rapid audience online. Anyone who’s signed up has experienced the initial “boost” that comes with your first couple of posts. TikTok’s algorithm often sets you up for success, hoping to hook you to the platform.But what happens next? You start to find out how competitive TikTok can be. After all, we’re talking about the first non-Facebook app to reach 3 billion global downloads. That’s great news if you’re looking to build an audience. But it’s also a high bar if you’re trying to stand out and build an audience.

How a dentist is rooting his new-patient strategy in TikTok

It’s not often you come across a dental office with a brand name. Usually, you’ll see “Dr. Mohiuddin Denistry,” “Queen Street Dentistry,” or “Chicago Dental.” There isn’t a lot of creativity, which was the first part of Dr. M’s plan to build a dental brand, not just another clinic. Hence the brand name, Dentologie.

Are creators the cheat code to a brand's social media voice?

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ChatGPT's list of top eCommerce tactics

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Influencer marketing trends, as written by ChatGPT

We asked ChatGPT to summarize the latest influencer marketing trends for BANKNOTES

Why brands are hiring TikTok creators to run their social media

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How to maintain customer loyalty as the inflation spikes the cost of goods

Sure, Black Friday saw an all-time high in eCommerce sales. But if you’ve been to any grocery, retail, or marketplace in the last year, you’ve likely felt the effects of inflation. Everything is more expensive right now. For example, prices for food increased by 10.4% in 2022 (the biggest increase since 1981), and energy prices have risen 41.6% over the last year (the largest since 1980).

Faux 'website outage' emails flood Black Friday inboxes

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UGC: Tips for hunting and gathering

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Top ways brands can obtain quality UGC and connect with influencers and creators

Well, social media is officially the new word of mouth. Social media allows consumers to share your brand, and it helps you connect with consumers, build trust, and develop a community. And, now there’s a way you can leverage the power of digital word of mouth marketing to also produce more impactful content at a reduced cost. Enter user generated content (UGC).

How Awful Cloth grew a mindset brand through organic creator relationships

Fact: Everyone likes to wear hoodies. Fact: Everyone wore hoodies during the pandemic. Fact: We all love expressing ourselves in different ways. Fact: Everyone can do with a little positivity in their day-to-day lives. Combine all these attributes, put them into a wishing well, and what do you get? An optimistic brand that sells positivity-focused clothing, writes Monday motivation quotes, and sells really bright and happy hoodies.

Successful creators know how to focus and tap into their competitive advantage

Think back to the first time you decided to take your creator career seriously. You face a sea of decisions that can feel paralyzing. It’s no surprise then that one question keeps getting brought up when I talk to creators: How do you break through in a sea of distractions, choices and competition?

Creator campaigns aren't just for apparel and CPG brands: INFINITI launches campaign driven by creators

Welcome to this week's BANKNOTES newsletter.Before you slip into a tryptophan-induced slumber, we wanted to stuff (see what we did there) your inbox with some insights from this week in eCommerce and creator marketing.

Erica Werber, CEO of Literie Candles, on the explosion of the candle industry

Literie was originally launched as a pandemic hobby and love letter to NYC. With help sampling scent profiles with her kids as they were learning remotely and with an order of 2000 candles, founder Erica Werber thought she would just sell the candles mostly to friends, and then return to her normal career.

INFINITI launches marketing campaign driven by creators

INFINITI, the luxury division of Nissan, has launched a new creator-powered campaign called Capture INFINITI. According to the agency leading the campaign, INFINITI is looking for ways to differentiate itself within the growing competitive luxury vehicle space, which is why it teamed up with seven creators to launch a one-of-a-kind creator-led campaign. The campaign showcases INFINITI’s QX series. 

Nibble brings an AI-powered negotiator bot to eCommerce

Nibble is a new eCommerce technology company that’s trying to disrupt eCommerce product pricing. The technology brings customer and merchant negotiation into the online shopping experience for Shopify stores. 

TikTok is paving a new path for online search: Are you ready?

Is TikTok going head-to-head with Google search? According to a recent writeup from Ashley Cummings for BANKNOTES this isn't too far fetched. 😲 In fact, 40% of young people say they go directly to TikTok or Instagram now instead of Google. 😲

Options for paying creators: Affiliate commissions vs. contracts vs. full-time

The question isn’t whether or not there’s value in hiring creators—even over celebrities—to promote your brand. There is. The question is: what’s the best way to compensate creators so you can secure more mutually-beneficial partnerships and grow your brand?

Tuft and Paw's Jackson Cunningham on developing thoughtful furniture for cats

From a cat tree that looks like it should be in a museum, to the perfect litter box: Tuft and Paw's Jackson Cunningham on developing thoughtful furniture for cats

Bolt one-click checkout sustains another round of layoffs

So-called one-click checkout company Bolt underwent another round of sweeping layoffs this week, according to posts from several former employees across Linkedin.

Death to DTC Twitter? Elon Musk’s direction causes fight or flight response amongst community

While it’s still early on in the acquisition, folks are complaining on Twitter about Musk, his “sh*tposting” (for a lack of a better term), and these new changes (mostly the pay-for-verification issue.) One community that’s specifically concerned is the Direct-to-Consumer one—a small subset of Twitter where founders, marketers, and operators of eCommerce technology and brands came together and built strong connections over the past several years.

Banknotes’ 2022 holiday DTC gift guide (and giveaway)

Check out the coolest DTC gifts and enter for a chance to win $500 to spend on yourself and some friends

Nisha Godfrey: The woman behind TikTok’s viral chicken salad sound

“It’s a chicken salad.”If this phrase sounds familiar, it’s likely because you’ve heard it used as a trending sound in thousands of videos on TikTok and Instagram over the past several weeks. The entire sound features an exchange between frequent deli goer Nisha Godfrey and owner Wael Herbawi at East 81st Street Deli in Cleveland, Ohio.

FlavorCloud's Mike Sanchez on the business of leading

As the Chief Revenue Officer at FlavorCloud, Mike Sanchez has had 17 years of experience driving partner, sales, and customer success.

Not all creators need to foster community

Building audiences has always been a lucrative endeavor. It’s the reason why the amount brands spend on influencer marketing keeps rising. Community is powerful on its own, too. Conferences and online memberships are thriving businesses. This begs the question, do all creators need to build community? 

Hollister uses Share2Pay to help young shoppers share their carts with guardians

After an internal study of sales data, executives at Hollister and Abercrombie & Fitch found that brands targeted toward teens were losing sales. Part of this was due to inflation and the rising cost of living, but they found the key pain point was an age-old reality: most teens simply don’t have much purchasing power. After researching today’s Gen Alpha (teen) consumers, Hollister created the Share2Pay app to tackle this problem.

#paid named an official TikTok marketing partner

#paid, a multi-channel creator marketing platform that empowers creators to partner with brands and build their businesses, today announced that it has become an official TikTok Marketing Partner. As a badged partner, #paid will bring more great opportunities to their engaged network of content creators and marketers. 

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