calendar

The times of uncertainty can be extremely difficult for businesses of all kinds to navigate, but the times of uncertainty are when reliable and stable partners demonstrate their worth. for creators as well as independent publishers, it'll be increasingly clear in the months in the coming months which tools and platforms can best support the long-term growth of their businesses and also put their companies in risky situations.

The global economic outlook is looking increasingly precarious, and business owners should be prepared to encounter challenges as the year continues to play out. The budgets of consumers are decreasing - because of the runaway rise in inflation and the aftermath of conflicts in Europe and elsewhere - and revenue challenges will soon be inevitable for a lot of companies.

One of the benefits for businesses monetizing audiences via membership models is that, while subscription revenue is not in any way immune to the impacts of broader economic conditions, it's typically more insulated in comparison to the revenues generated by other avenues like sponsorships, advertising, and commerce. This is assuming, however the creators have chosen trustworthy technology partners who have stable and sustainable businesses of their own that can position them to navigate challenging situations successfully.

Like I've previously argued anyone who is a creator or an independent publisher seeking to establish an ongoing membership or subscription business needs to be cautious when choosing monetization and technology tools. Gravitating towards the "cheapest" choice is normal for publishers, however the creators who I collaborate with are typically seeking to switch to different platforms and software due to their current partners having failed to meet their expectations and have not provided enough opportunities to expand the scope of the features and functionality they have, or provide lackluster support and guidance.

These frustrations become worse during tough economy times. With the demand of customers as well as market and economic conditions change quickly all around them, the very last thing creators should need to be concerned about is the tools for monetization that are hindering their growth. Ineffective technologies, missed revenue opportunities and operational headaches are irksome at the best of times However, during times in which things are not stable, the impact of these issues can quickly compound to the point that they create significant risk for business owners who are creators.

It's more crucial than ever that creator partners have created solid and long-lasting companies of their own and don't put customers in the lurch whenever they're forced to shift their product or focus in pursuit of revenue or other possibilities.

My advice to any creator business concerned about a difficult economic period is to stay basic and concentrate on getting the basics right. Specifically:

• Create high-quality, distinctive content on a consistent basis.
• Make sure you have a seamless service and user experience that allows you to pay for and use the content as simple as is possible.

And when it comes to the technology behind monetization and other tools I'd advise creators to scrutinize potential partners closer than ever to make sure they are able to articulate an understanding of their philosophies and strategies with proven products as well as experience, and are committed to subscription and membership models for long term.

Creators who continue to satisfy the expectations and needs of their subscribers and audiences and who have the technologies and tools that empower the ability to do this - should be in a situation to not only successfully navigate difficult economic times but to emerge on the other side with a strong position.