Optimizing Passion and Digital Platform as Money Machine
In-depth discussion on "passion economy" with SociaBuzz' CEO, Rode Tampubolon
Bintoro Agung - 9 February 2020
Business through social media has made everything possible, including "self commercialize". This kind of business is highly related to one's passion. Those who are diligent and passionate about certain activities are very likely to make the money rain through it.
In #SelasaStartup's first week of 2020, Rade Tampubolon as the CEO of SociaBuzz taught us to take a peek at opportunities and tips on turning what we love into a source of livelihood.
The internet, especially the massive use of social media, has become a crucial bridge of connection. People used to do a hobby for their own satisfaction, nowadays, other people can appreciate it through digital platforms. Thus, it is not surprising whether they'd be willing to reach into their pocket to support their favorite creators.
Tampubolon called the people who enjoy the content as true fans. They are the ones who will be loyal to the creator's works and willing to contribute financially in order to keep the work continue. This is what he refers to as a passion economy.
With Dailysocial, Rode has shared some tips to do for those who interested in living the passion economy.
"Passion and technology are getting connected. There's a money velocity within the association. There's a market for any kind of passion," he said.
Find your passion
Most people have at least one favorite activity or hobby. This is the very beginning of everything. Finding something we love, something we'll keep doing whether it provides us no income yet wasting our time.
As previously mentioned, almost every activity has its market. For example, content creator, writer, photographer, illustrator, make up artist, podcaster, musician, and many more.
Rode has advice for those who already find their passion to not afraid to explore. Exploration is needed for their works to have its own uniqueness. The more unique, the easier his work to be discovered by the public.
Building a tribe
After finding passion, the next step is to introduce their work. The digital platform has allowed people to share their hobbies with the public. Tampubolon also said to not hesitate to show off their respective works on various platforms, such as Twitter, Instagram, whatsoever.
When the creation is unique and has such quality, then the audience will gather. The second step is to begin. He called this phase as gathering community or building a tribe.
"This one is essential because it's the economy. I've heard a quote saying 'with only 1000 true fans, one can live in prosper'. From those 1000, if only each would give 100 dollars every year, you can count the result," he added.
By true fans, he referred to the people who do not hesitate to provide financial support as a form of appreciation for the creator.
However, to maintain a loyal audience, Tampubolon thought social media alone is not enough. He said it's important for passion economy players to use a platform that can ensure the audience for easy access to the content.
"For example, I have 1 million followers on Vine. Then, Vine goes down, my followers is gone and I gotta start anew. Another example is a campaign on social media, once the algorithm changed, it can reduce the engagement. The algorithm doesn't view junk content, with no benefits, we are finally trapped in the insensitive algorithm," he said.
Therefore, he advised maintaining good relations with the true fan community in the additional platform like Sociabuzz or Patreon. On the platform, the creator can directly connect with the true fans and let the works be appreciated.
Another essential detail
Besides the two main tips, there are some things that seem trivial but cannot be ignored by creators if they want to succeed in this passion economy. First, the way to value the works.
Tampubolon advised creators not to label their work too cheap or too expensive. The way to work it out is by fixing an expensive price at first. When the price is too high for the other party, simply adjust it for a cheaper price.
"Therefore, when they get cheaper prices they will be more satisfied."
Another tip is basic business ethics. He said there are cases when influencers who are merely interactive with service users. The stuff like writing emails properly and correctly, reading briefs carefully, responsive in communicating about business, and other stuff.
– Original article is in Indonesian, translated by Kristin Siagian