The Passion Economy has massive disruptive potential, as it connects non-producers with non-consumers. Empowered by new digital platforms, creators in the Passion Economy are introducing new products and services aimed at those who previously couldn’t afford or were over-served by existing offerings. These new creator-led products and services expand the market and tap into latent demand. This is classic disruption theory, and numerous incumbents are under threat.
Love reading this perspective and looking forward to more!
I'd challenge your view (I sense) that creator-led products and services would/should likely start with sufficient functionality in return for lower prices. "Low price" and "Low-end" disruption was often emphasized in this series.
Some creator-led product categories and market segments can/will compete at comparable price points as traditional brands—day one—while exceeding on perceived value. Bringing a superior/quality product to market is table stakes these days.
Manufacturers and supply chains recognize this now. The smart ones are now lowering MOQ barriers to capture the next breakout creator-led brand.
The YouTube beauty/makeup content creators and the colored cosmetics market come to mind.
Consumers have a deep affinity for creator “brand” personalities, compared with traditional or even digitally-native product brand counterparts. This affinity is highly transferable to creator-led products and services.
Creator-brands born in the Passion Economy play by different rules, as if they are playing with cheat codes. Years of content creation, audience building, and true authenticity (that only an individual can command) instantly unlocks new levels when creators introduce products and services.
[Examples] Mega creator-led brands like Kylie Cosmetics (product) and Joe Rogan (media) played by very different rules, compared to traditional or even digitally-native brand counterparts of the last decade.
I believe hordes of creator-led ankle biters will disrupt this next decade.
High gross margin, low/no CAC, and an LTV greenfield will enable many creator-led brand to spend more to delight every customer, in every way (i.e., different rules).
Those who deeply understand the creator mindset/motivations and have a playbook for brand/product development will be well positioned to create value—sustainably and profitably.
Thought-provoking as always. Check us out at networkcapital.tv , we are cheer leaders of the passion economy.
Love reading this perspective and looking forward to more!
I'd challenge your view (I sense) that creator-led products and services would/should likely start with sufficient functionality in return for lower prices. "Low price" and "Low-end" disruption was often emphasized in this series.
Some creator-led product categories and market segments can/will compete at comparable price points as traditional brands—day one—while exceeding on perceived value. Bringing a superior/quality product to market is table stakes these days.
Manufacturers and supply chains recognize this now. The smart ones are now lowering MOQ barriers to capture the next breakout creator-led brand.
The YouTube beauty/makeup content creators and the colored cosmetics market come to mind.
Consumers have a deep affinity for creator “brand” personalities, compared with traditional or even digitally-native product brand counterparts. This affinity is highly transferable to creator-led products and services.
Creator-brands born in the Passion Economy play by different rules, as if they are playing with cheat codes. Years of content creation, audience building, and true authenticity (that only an individual can command) instantly unlocks new levels when creators introduce products and services.
[Examples] Mega creator-led brands like Kylie Cosmetics (product) and Joe Rogan (media) played by very different rules, compared to traditional or even digitally-native brand counterparts of the last decade.
I believe hordes of creator-led ankle biters will disrupt this next decade.
High gross margin, low/no CAC, and an LTV greenfield will enable many creator-led brand to spend more to delight every customer, in every way (i.e., different rules).
Those who deeply understand the creator mindset/motivations and have a playbook for brand/product development will be well positioned to create value—sustainably and profitably.
Engrossing. Implication No: 4 reminds me of what Prof Michael I Jordan was concern of on Lex Fridman' s Podcast.
https://twitter.com/lexfridman/status/1231939492250034177?s=20