Instagram is taking on TikTok with the announcement of its new Creator Marketplace.
The news broke via Meta CEO, Mark Zuckerberg, who said: "We're testing a set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities."
While Instagram has been working on monetisation tools for some time, the progression cements the fact that the social media platform is evolving to support a creator-first economy.
To help you on your way, later.com has shared everything you need to know about the latest features below.
What is the Instagram Creator Marketplace?
The Instagram Creator Marketplace is a dedicated space where creators can be discovered, connect with brands, and paid on the platform.
Think of it like Instagram’s very own matchmaking service.
The unique tool allows brands and creators to seek relevant partnership opportunities between one another, all without ever having to leave the app.
Now, if this all sounds familiar, you’re not wrong.
Similar to TikTok’s Creator Marketplace – where brands can discover top TikTok talent in-house – Meta is expanding their functionality toward a creator economy, too.
How does the new Instagram Creator Marketplace works?
Once a brand has discovered a creator through Instagram’s discovery feature, they can message the creator through the partnership messaging feature – a folder within the app that keeps partnership requests separated.
From there, brands can send through project details including necessary deliverables, rates, and facilitate payments (no negotiating with managers required!).
Making it easier than ever for brands and creators to collaborate and earn a living on the platform.
What are the Instagram Creator Marketplace features?
Instagram has rolled out four new tools to streamline branded partnerships on the Creator Marketplace, let’s get into them:
1. Discovery Feature
Instead of brands tirelessly scouring the internet for hours (sometimes days!) to find the right influencer, Instagram’s made it easier than ever for brands and creators to unite. Welcome, the Discovery function. Here, vetted brands can quickly discover creators that match their brand ethos and creators can indicate their interests and topics that align with their work – talk about a match made in content heaven.
2. Partnership Messaging Feature
Say goodbye to opportunities getting lost in the DMs. Instagram’s Partnership Messaging feature lives as its own folder within your DMs, keeping offers and partnerships separated and, most importantly, organised.
3. Projects Feature
Much like a statement of work or deck, Instagram’s Project tool contains all the relevant information regarding a creator’s project. Shared within the Partnership Messaging feature, Projects will include the full scope of work and vital details including deliverables and rates.
4. Payments Feature
Coming soon, creators will finally be able to get paid directly on the app. With Instagram’s Payment tool, brands can pay creators once a project is complete without ever leaving Instagram. And even better, creators will be able to track payments within the Tools section of their dashboard, win-win!
Image source: Getty
