🎡 The super fan flywheel is a proven way for startups to grow in the creator economy.
Here's how it works 👇
1. Flywheel
2. Incumbents
3. Examples
peteryang.substack.com/p/the-super-fa…
Here's how it works 👇
1. Flywheel
2. Incumbents
3. Examples
peteryang.substack.com/p/the-super-fa…
1/ A super fan is someone who:
• Wants authentic interactions with the creator
• Is willing to pay a lot for these interactions
• Wants authentic interactions with the creator
• Is willing to pay a lot for these interactions
2/ @kevin2kelly wrote that a creator can make six figure income by getting 1,000 super fans to pay $100 a year.
A startup can grow by helping creators make money through authentic interactions with their super fans.
A startup can grow by helping creators make money through authentic interactions with their super fans.
3/ As a startup, here's how you can enter the flywheel:
1. Target creators with super fans
2. Help creators earn more by interacting with super fans
3. Creators bring more fans to the platform
4. More creators join from word of mouth
The first two steps are critical.
1. Target creators with super fans
2. Help creators earn more by interacting with super fans
3. Creators bring more fans to the platform
4. More creators join from word of mouth
The first two steps are critical.
4/ Target creators with super fans
Most startups can't afford to target top creators. The next best segment is creators who have high engagement with a small group of super fans.
Engagement = Interactions per post divided by total followers
Most startups can't afford to target top creators. The next best segment is creators who have high engagement with a small group of super fans.
Engagement = Interactions per post divided by total followers
5/ Targeting creators in a specific niche also helps spread word of mouth. This niche can be a:
1. Vertical (e.g., beauty influencers)
2. Horizontal (e.g., creators with fans on many platforms)
3. People who don't realize that they're creators yet
1. Vertical (e.g., beauty influencers)
2. Horizontal (e.g., creators with fans on many platforms)
3. People who don't realize that they're creators yet
6/ Help creators earn more by interacting with super fans
Once you find your target creator segment, build your product with them. Talk to them to understand how you can help them interact with super fans to make money.
Once you find your target creator segment, build your product with them. Talk to them to understand how you can help them interact with super fans to make money.
7/ If you get these first two steps right, creators will:
3. Promote your platform on social to bring in more fans
4. Spread the word to other creator segments
3. Promote your platform on social to bring in more fans
4. Spread the word to other creator segments
8/ The super fan flywheel also works because incumbents will prioritize building products for the masses instead of products that:
1. Target a specific creator segment
2. Help creators earn more from super fans at the expense of regular fans
1. Target a specific creator segment
2. Help creators earn more from super fans at the expense of regular fans
9/ @Patreon's super fan flywheel:
1. Targeted YouTube creators who had highly engaged fans but low ad revenue
2. Using Patreon, these creators could earn more by asking super fans to subscribe to unlock content and interactions.
1. Targeted YouTube creators who had highly engaged fans but low ad revenue
2. Using Patreon, these creators could earn more by asking super fans to subscribe to unlock content and interactions.
10/ Patreon's flywheel (cont'd):
3. Creators added Patreon links to their YouTube videos and social posts.
4. Creators and fans spread the word to other creator segments.
3. Creators added Patreon links to their YouTube videos and social posts.
4. Creators and fans spread the word to other creator segments.
11/ Comparing Patreon with Gumroad:
Patreon: Paid $2B to 200,000 creators (or $10K per creator)
Gumroad: Paid $370M to 75,000 creators (or $5K per creator)
Subscriptions and interactions helps creators build a relationship with super fans vs. pay per transaction.
Patreon: Paid $2B to 200,000 creators (or $10K per creator)
Gumroad: Paid $370M to 75,000 creators (or $5K per creator)
Subscriptions and interactions helps creators build a relationship with super fans vs. pay per transaction.
12/ For the record, I love Gumroad and the team has doubled down on memberships and subscriptions to help creators engage super fans:
gumroad.com/gumroad/p/intr…
gumroad.com/gumroad/p/intr…
13/ @BookCameo's super fan flywheel:
1. Cameo targeted Vine stars, YouTubers and social media influencers who had loyal followings.
2. Using Cameo, these influencers could earn more by charging super fans for personalized video shoutouts.
1. Cameo targeted Vine stars, YouTubers and social media influencers who had loyal followings.
2. Using Cameo, these influencers could earn more by charging super fans for personalized video shoutouts.
14/ Cameo's flywheel (cont'd):
3. Influencers and fans shared their shout outs on social media to attract more fans.
4. Word of mouth and sales helped Cameo expand to reality TV stars and other creator segments.
3. Influencers and fans shared their shout outs on social media to attract more fans.
4. Word of mouth and sales helped Cameo expand to reality TV stars and other creator segments.
15/ I really love this quote from @Mr312, Cameo's CEO:
"One person’s D-List is somebody else’s favorite person in the world."
"One person’s D-List is somebody else’s favorite person in the world."
16/ Of course, I have to mention OnlyFans again.
OnlyFans was built with one focus - help creators (yes, adult creators) make more money from super fans.
OnlyFans was built with one focus - help creators (yes, adult creators) make more money from super fans.
17/ The adult content helped, but OnlyFans also grew because it helped creators give personalized attention to super fans while making them pay every step of the way.
More here:
More here:
https://twitter.com/petergyang/status/1333088907873767424?s=20
18/ To recap, you can enter the super fan flywheel by:
1. Targeting a creator segment with super fans
2. Helping creators earn more by interacting with super fans
1. Targeting a creator segment with super fans
2. Helping creators earn more by interacting with super fans
19/ Once creators make money on your platform, they will bring fans and spread the word to other creators.
With enough creators and fans, you can then build discovery channels to make "come for the tool, stay for the network" come true.
More here:
With enough creators and fans, you can then build discovery channels to make "come for the tool, stay for the network" come true.
More here:
https://twitter.com/petergyang/status/1329094184821682178
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