Creators on Instagram are about to get more ways to make money on the platform. Instagram is currently working on a brand marketplace, affiliate tools, as well as a way for creators to make their own shops.
Instagram Is Expanding Monetization Opportunities for Creators
Facebook CEO, Mark Zuckerberg, and the head of Instagram, Adam Mosseri, met on Instagram Live to discuss a number of upcoming updates to Instagram. During the livestream, Zuckerberg announced some major changes to the ways that creators can generate revenue on Instagram.
Creator Shops are part of this initiative, which builds off of the existing Shop feature for businesses on Instagram. Zuckerberg noted that “one part of being a creator business model is you create great content, and then you can sell stuff, and so having Creator Shops is awesome.” The creator-specific Shops will allow creators to sell products directly from the platform.
The next tool Instagram is rolling out has to do with affiliate marketing. The details on this topic are sparse, but Zuckerberg hinted at a way for creators to get paid for the items that they recommend. “People look to creators for recommendations about what’s good, especially in the places that they’re the experts on,” Zuckerberg said.
In the same vein, Zuckerberg also announced a tool for connecting creators with brands. According to Zuckerberg, this would take the form of “a marketplace for matching up creators with branded content.” A brand marketplace could help smaller influencers get deals with brands, giving them a chance to make some extra cash as their following grows.
“Our view is that if we help creators make more money on their content, that’ll help a broader creator economy emerge, which will make it so there’s more content across the services,” Zuckerberg said.
Currently, Instagram lacks the tools to help creators connect with brands. Whenever a brand wants a creator to market a product, they’ll typically reach out to a creator via email or a direct message. Having an in-app brand marketplace could be a game-changer for influencers on Instagram, as it could make it even easier for creators to find brands to work with.
Social Media Is Becoming More Creator-Centric
Social networks are becoming more creator-centric than ever. While this is great for users who want to make a living from sponsorships, it could cause platforms like Instagram and Facebook to stray even farther from their original purposes.
Both platforms were once a place to connect and share pictures with friends and families, but now, they’re starting to seem more like ad-ridden platforms that relentlessly push products.