Consumer Goods and why Creators should be involved
UPDATE: As of November 2, 2021, Valkyrae is no longer affiliated with RFLCT and the company has ceased operations due to ongoing backlash regarding the science behind the product.
Today there was a new release for a skin care company called RFLCT. You might think, “well ok, whats so special?” The thing about this new brand is that it was launched publicly by their co-founder Valkyrae (Rachell “Rae” Hofstetter). For a brief summary Valkyrae was awarded the 2020 Content Creator of the Year by The Game Awards and is the most watched female streamer on YouTube (NASDAQ: GOOGL).
So again, why is it special? This launch marks another moment were a creator has dived head first into the world of consumer products in a big way. People are probably familiar with some creator consumer product brands like Kim Kardashian’s SKIMS where she is the company’s largest stakeholder. Beside’s a Kardashian size brand, there have been plenty of creators over the last half decade that have scaled their solo influence into something that could be a direct to consumer product.
A challenge that a lot of creators face, no matter their main platform, or their main focus industry, can be defined as scaling and “utilizing their influence.”
Scaling, referring to broadening of their business. This could be through merchandise, strategic brand partnerships, or being able to transition to a new medium (big on a social media platform and then staring in Hollywood movies).
Some examples of scaling:
- TikTok Star Addison Rae Signs Film Deal With Netflix
- Gaming chair firm Mavix names H3CZ, Valkyrae, and Josh Hart as ambassadors
“Utilizing their influence” is how the creator can use the influence that is often capitalized by established companies, in building out their own brand. As mentioned, within the last half decade more and more creators have been in search to find ways to do both.
Some examples of scaling:
- You’ve Heard of Ghost Kitchens. Meet the Ghost Franchises.
- Here’s Everything We Know About Tati Westbrook’s Next Makeup Launch
With the launch today of RFLCT and over the countless other launches, I think about the importance for creators to develop teams specifically for their creator brands innovation. Having the right people around is important in every business but we are seeing why within the creator economy it is even more vital. By having teams dedicated to the research & development of new products, services, ownership opportunities and scalable innovation can help today’s creators utilize their influence as well as catapult their careers as solopreneurs. As more of the changes happen the creator economy will grow larger for business automation opportunities, creative/digital agencies including ideation consulting for creators, and generally more funding capital.
If you are a creator in 2021 it’s never too late to start thinking about the next thing. They're are tons of different ways to scale and use that influence and it really is just the beginning!
