The Role of Community and How It Should Be in the Curator Economy

The Role of Community and How It Should Be in the Curator Economy

In the era of the curator economy, where the power of curation is becoming increasingly profitable, the role of community is more important than ever. People are realizing that there is just as much value in curating content as there is in creating it. The choices we make are never purely personal; we are constantly seeking guidance and insights from our community to help us navigate the world.

A good curator goes beyond simply reposting images; they do the research, write, and edit to provide valuable and trustworthy content. Micro-influencers are gaining popularity because they are more connected with their community and therefore more relatable. The value of curation lies not in the act of distilling and distributing content, but in the judgment and expertise of the curator behind it. It is important to know who is curating the content you consume and whether their specific outlook adds value to what you are consuming.

While the articles themselves may be free, the selection process is not. Diligent curation is hard work, and it is only fair that curators are able to monetize their efforts. However, there is a problem with people monetizing sloppy work and calling it curation. It is up to the knowledge-obsessed community to reclaim the true meaning of curation and ensure that curators are driven by a passion for informing and selecting, rather than a lack of creativity and a hunger for money. As a community, we have the power to teach each other what is worth focusing on in this oversaturated world.

Pinterest is a unique platform in the curator economy. Unlike other social media platforms, Pinterest is more of a personal tool than a social one. It is about a person's relationship with content and ideas that they discover, whether on Pinterest or elsewhere. People use Pinterest to connect with things to do and buy, rather than to connect with others. This distinction makes Pinterest an ideal platform for businesses, as the revenue model does not conflict with product engagement.

Casey Winters, an expert in growth and retention, explains that the key metric for Pinterest is the "Save." When someone saves an idea or image, it signals that they have found something they are interested in. The "Save" metric also provides valuable insights into growth and the quality of content on the platform. Winters emphasizes the importance of aligning metrics with the mission of the company. Mission-oriented companies like Pinterest focus on metrics that indicate fulfillment of their mission, while business-oriented companies prioritize metrics that lead to long-term revenue.

In terms of retention and repeat usage, Winters suggests targeting the normal frequency of a behavior early in a startup and then working towards increasing it. He also advises teams to experiment with divergent experiences rather than isolating variables, as the biggest wins in growth often come from unexpected results. Winters shares an example of how a small experiment, where they replaced scrolling with a banner prompting users to sign up, improved their conversion rate by fifty percent.

Winters also highlights the importance of learning from failed experiments. For example, a failed email experiment helped the Pinterest team understand that sending emails with relevant content, rather than teaching users about the service, was crucial for increasing activation. However, Winters acknowledges the challenges of retention and the limitations of tools like emails and notifications for improving it. The responsibility for retention may be shared between multiple teams, and growth teams may not have the freedom to experiment beyond these limited tools.

Pinterest's success is also attributed to its approach to SEO. Rather than blindly following best practices, the team ran SEO experiments and questioned every assumption. They learned to leverage the strengths and weaknesses of their business and build products that would work for both users and search engines. Winters emphasizes the need to understand the current business and identify bottlenecks that prevent it from reaching its full potential. Experimentation is key to diminishing these bottlenecks and ensuring the growth team has matured.

In conclusion, the curator economy relies heavily on the role of community. As consumers, it is important to be aware of the curators behind the content we consume and ensure that their expertise adds value to what we are consuming. The success of platforms like Pinterest lies in their ability to align metrics with their mission and continuously experiment to improve retention and growth. Before we part ways, here are three actionable pieces of advice:

1. Take the time to research and understand who is curating the content you consume. Look for curators who are knowledgeable and passionate about their subject matter.
2. Experiment with different approaches to increase user engagement and retention. Don't be afraid to question industry best practices and try divergent experiences.
3. Focus on understanding the strengths and weaknesses of your business and build products that cater to both users and search engines. Experimentation is key to identifying and diminishing bottlenecks that prevent growth.