In today's digital age, it's increasingly common for businesses to collect and analyze data on their customers, known as audience data. This data can be incredibly valuable, providing insights into customer behavior and preferences that can help businesses tailor their products and services to better meet the needs of their audience. However, there is often a debate about who actually owns this data. Is it the business that collects it, or the customer who is the source of it? This article will explore the concept of rented vs owned audience data and the implications for fan data ownership.
As a content creator, one of the biggest challenges you face is building and maintaining an audience. In today’s digital landscape, there are two main ways to do this: renting an audience from social media companies, or building your own community platform where you own the fan data and can reach them at any time.
Rented audience from social media
On the surface, renting an audience from social media companies might seem like the easier and more cost-effective option. After all, these companies already have millions of users, and they provide tools and platforms that make it easy to share your content and connect with potential fans.
However, there are some significant drawbacks to this approach. First and foremost, when you rent an audience from a social media company, you don’t actually own that audience. You’re at the mercy of the company’s algorithms and policies, and if they change, your audience could disappear overnight. This has happened to many content creators in the past, and it can be devastating for their businesses.
Another problem with renting an audience is that you don’t have control over the data. When you use a social media platform, you’re giving the company access to valuable information about your fans, including their demographics, interests, and behavior. This data is incredibly valuable, and the company can use it to sell targeted ads and make money off of your audience. As a content creator, you don’t get any of this revenue, and you don’t have access to the data to use it for your own purposes.
On the other hand, building your own community platform where you own the fan data has some major advantages. First and foremost, you have complete control over your audience. You’re not at the mercy of a social media company’s algorithms or policies, and you can reach your fans directly whenever you want. This gives you a lot more flexibility and autonomy, and it allows you to build a more loyal and engaged audience.
Another advantage of owning your audience is that you have access to the data. When your fans sign up for your community platform, you can collect their information and use it to better understand and serve them. You can use this data to create targeted marketing campaigns, improve your content, and offer more personalized experiences. And because you own the data, you can also use it to generate revenue through targeted ads or other monetization strategies.
Why does owning fan data matters?
As mentioned above, owning your fan data can bring you much better brand deals. It is, however, difficult to provide an exact figure for how much is paid in brand sponsorship to the influencer market as it can vary widely depending on a number of factors, such as the size and engagement of the influencer's audience, the type of content they create, and the specific terms of the sponsorship or brand deal.
According to a report by Business Insider, the average influencer with 100,000 followers can earn anywhere from $500 to $1,000 per sponsored post, while influencers with millions of followers can earn upwards of $100,000 per sponsored post. However, these figures are just an average and the actual amount an influencer earns from a brand sponsorship can vary greatly.
In addition to sponsored posts, influencers can also earn money through other types of brand deals, such as product placements, affiliate marketing, and attending events as a brand ambassador. The amount an influencer earns from these types of deals can also vary depending on the specific terms and conditions of the deal.
Overall, the amount paid in brand sponsorship to the influencer market can vary widely, but it is an increasingly popular way for influencers to monetize their content and gain additional exposure for their work.
Get help by getting viral
Getting viral on Instagram or TikTok can help you land better brand deals because it demonstrates to potential sponsors and brands that you have a large and engaged audience. This can make you more appealing to potential sponsors and brands as they will be more likely to want to work with you and pay you a higher fee for a sponsorship or brand deal.
When a post or video goes viral on Instagram or TikTok, it means that it has received a large number of likes, comments, and shares, which indicates that it has resonated with a large number of people. This can help to increase your visibility and reach, and make your content more appealing to potential sponsors and brands.
In addition, going viral on Instagram or TikTok can also help to increase the credibility and authority of your content, as it shows that other people find your content valuable and worth sharing. This can make it more likely that potential sponsors and brands will want to work with you and pay you a higher fee for a sponsorship or brand deal.
Here you can find multiple different types of resources that will help you go viral and grow as an entrepreneurial creator.
In conclusion, as a content creator, it's important to consider whether you want to rent or own your audience. From the beginning, renting an audience from social media companies can be convenient and cost-effective, but it also comes with significant drawbacks, including a lack of control and access to data. Building your own community platform, here at Fangage, where you own the fan data can give you more control, flexibility, and access to valuable data that you can use to better serve your audience and generate revenue. Choose Fangage on the road to becoming an independent creator.