In simple terms, a creator marketplace is a platform that allows brands and creators to discover one another and connect with ease.
More and more brands are recognising the opportunities that collaborating with influencers on social platforms can bring to them. Following the news that TikTok is now the second most popular platform for influencer marketing, the process of seamlessly connecting brands with the most fitting creator is a useful tool in this growing industry. Hence why Instagram is looking to introduce a creator marketplace of its own.
How can brands use the creator marketplace?
As the Instagram creator marketplace remains in the planning stages, we can look at the tool on TikTok to gauge an understanding of how it works, and how it could work for more platforms in the future.
Currently, TikTok’s creator marketplace is not available to the general public, but instead, the app uses an exclusive invitation system to onboard creators, and brands can apply to access the marketplace through TikTok’s website. Once accepted and onboarded into the marketplace, brands are able to access in-depth analytics about content creators. The data presented to brands includes creators number of views, likes, shares, comments, and reach.
Clearly presenting brands with these analytics means that they can spend less time on extensive research into creators, and more time on building valuable connections to create best in class campaigns.
It will be interesting to see whether more social media and influencer platforms begin to adopt a creator marketplace system or even a system that works in the opposite way, enabling creators themselves to discover brands. Making brand/influencer collaborations more smooth to initiate means that there will be increasing opportunities for creators to earn from their content and for brands to gain more recognition and to grow.