The Weekly ??HUBdate??

Guys! My boss is quite (un)funny. ??

?Yesterday, he said that whoever laughs at his jokes when he cracks them, gets a monetary benefit! ??

?Welcome to running a purely transactional business! ??

?On the other hand, if he had taken a different approach and spent time writing and practicing the delivery of his jokes, building a bond with his audience, the resulting community built would laugh and even go an extra mile to roll on the floor when he wasn't funny- simply, out of wanting to express support and loyalty. ??

?That is the creator economy in a nutshell and community is the EXACT reason why my boss would survive a recession! ??

?Dive in to see what's going on! ??

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Look What's Trending???

??The Diamond amidst the Recession! ??

??Rigi-culously cool start-up gets funded! ??

??AB-CTAs of Business! ??

The Diamond amidst the Recession! ??

According to surveys conducted by economists and the views of business leaders, the country is anticipating a recession in 2023. But, what does this mean for the Creator Economy? ??

?Creators, both amateurs which constitute a group of 46 million and full-time creators which add up to about 2 million of them, actually stand a chance to withstand the test that is the approaching depression. ??

?They make money in various ways, ranging from sponsored posts, selling their merch or even using the platform itself!

The Creator Economy is independent of economic fluctuations as it is directly supported by its loyal community. ??

Our view:

Just as you are reading this newsletter, Nirmala Sitharaman will be announcing the union budget for 2023! ??

?If you’re wondering what this means for the creator economy, then you my friend are at the right place! ??

?While flourishing sectors like e-commerce and e-sports in the digital segment are anticipating big allocations from the budget, the creator economy is set to receive recognition as a separate industry in itself. ??

?The government, seeing the immense potential of the industry and the heavy dependence of brands on the sector, is foreshadowing a substantial allocation of the budget. This move comes after the announcement that creator economy is expecting a turnover of 2800 crore by 2025! ??

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Rigi-culously cool start-up gets funded! ??

This creator-centric start-up based out of Bangalore city raised a funding of Rs. 100 Crore! ??

?Founded by Swapnil Saurav and Ananya Singhal in 2021, Rigi helps creators monetize their audience. The funding round was led by Elevation Capital and saw participation from Accel, Stellaris and Sequoia Capital. ??

?Rigi provides creators with tools of subscription management, courses and workshop curation that help grow and retain a community that can be monetized off of. Their newly acquired funds will be invested into engineering newer tools into action and expanding geographically. ??

?The expansion is set to knock on the doors of Southeast Asian countries for they believe their product will flourish in this demographic as user behaviour is similar to that of India. Having said that the company has already started its operations in Indonesia! ??

?The company has helped over 10,000 creators across various categories through channels like WhatsApp, Telegram and more. With the tools in place, creators can spend more time in their creative process! ??

AB-CTAs of Business! ??

It’s a good day for businesses on Instagram! The platform introduced its newest action button- “Add a Lead Form”. ?

This allows digital marketers to add either a standard or customized form to their business page.

?This will facilitate the collection of data through direct responses, thus enabling a business to better understand their audience and re-direct as and where required. ??

?Queries are still being directed towards Instagram to understand whether this is a test feature as it hasn’t been listed on its official overview of action buttons yet. ??

?Our view:

These forms are well-planned out, providing the options of being both pre-disposed as well as customized. ??

?There also exists the option of picking between asking multiple choice or short-answer questions. ?

?This is a brilliant opportunity to perform a qualitative analysis of the kind of interest garnered through one’s business. ????

?This feature could be leveraged to prioritize execution of queries and gauge the persona and imagery one’s brand has been expressing.

?Et Voila! You may just be on your way to creating sales through Instagram and that too, without any ads! ??

HUB Weekly Highlights! ??

This newsletter is brought to you by The Hub Bengaluru - India's largest and fastest growing creator house working with creators and brands to build communities.?

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