Take a trip down memory lane and remember the days when the barter system existed. Can you think of the existence of terms like ‘Centralization’ or ‘Decentralization’ back then? Exchanging something that you need for something that you already possess is what it was all about. Since then, society & economy has evolved to an entirely admissible paradigm: Monetary exchange.
While there is nothing at all wrong with evolution, it has raised the standard of living and the economy as a whole. But since we are talking about Centralization, it is crucial to know when and why it began.
As rightly stated in economics, “everything has its own opportunity cost involved in the process.” The progression of monetary exchange or money to buy and sell something demanded a need to set up an authority to govern the whole exchange process, right from printing the currency to making it accessible to the general public. Thus, the society paid an opportunity cost still unknown to many in terms of centralization.
In the early 2000s, the advent of Web 2.0 made its mark in the world. And with the expansion of the internet from person to person and door-to-door, social media platforms were born.
Social media gave rise to a new class of entrepreneurs claiming themselves as content creators, and that’s when the vicious circle of barter systems triumphed yet again.
Creators were creating what they were good at, be it photos, videos, gaming commentaries, blogging, fashion, etc., and users were consuming the content at the cost of their time. A decade ago, platforms like Instagram, Facebook, and YouTube realized the necessity of great content to grow their channels. At the same time, content creators or ‘Solopreneurs’ recognized the value created by what they produce and started demanding monetary value for creativity.
Simultaneously, the development of Artificial intelligence and tech-enabled algorithms started managing the creator’s content. Google Adwords, trending hashtags that can make your post reach millions, social media advertising, keyword research, and marketing, Search Engine optimization, even how consistently creators post can define the engagement rate.
Content or social media platforms generate revenue from the content posted by creators, though the real power lies with the platforms as the algorithms govern whether what you post will make a dent or not. For instance, a teacher taking online classes wants to make a presence in the teaching and student community; for him the average cost of maintaining a website would be INR 20000/year plus the cost of Instagram or social media marketing ranging between INR 146-246 per day, even then the Earned Media Value (EMV) is not assured.
When I spoke with a content creator Anuja, who creates cooking and baking video recipes online on Youtube and Instagram, she stated, “It becomes frustrating at times because the return on investment is not assured rather we need to maintain the consistency in our posts with minimal or no revenue earning streams at all.”
Again, centralization in the passion economy is becoming a curse for creators instead of serving them to reach their target niche for the deserved value in return.
The scenario today forges a role of Decentralization or a Hybrid model of content creation and consumption. A trusted authority or content monetization platform is needed but one that gives content creators more power over their own content making and marketing strategies, specifically an even distribution of income. Content marketing strategies like earning through a limited subscriber base. To start earning on YouTube creators need a subscriber base of 1000 and 4000 watch hours, then only content creators can apply for the YouTube partner program.
Non-Fungible Token (NFTs) drops, a new content marketing strategy gets user attention. Content creators use a tokenization strategy to make users a part of their growth. Creators are giving users a stake in their content through NFT drops, so content growth incentivizes both the followers and the creators.
However, that comes with its own restrictions as it caters to the product-driven industry. Also, not many creators are comfortable with providing stakes of their creations. Moreover, the high chances of not understanding the concept of NFTs is even bigger in the major audience. That’s where comes CallXP.
CallXP believes in a healthy relationship between the content monetization platform and the creators.
On our platform, creators can customize their own pricing for what they are selling-whether a product or service. By investing half the amount they invest on other platforms, creators can watch a three-fold increase in revenue generation.
Not just this, creators can devise their speed & strategy of creating content and need not worry about the consistency and subscriber base as they can start earning with as little as a subscriber base of 100.
Our marketing algorithms will give creators an assured Earned Media Value (EMV) and lead generation, so creators can just focus on creating quality content without the need to worry about attracting potential clients.