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In today’s podcast, Dame Colquhoun, our Solutions Manager/ SEO Strategist talks about new features that Facebook is working on to help creators to earn more revenue on Instagram.
Recently, Mark Zuckerberg announced a set of new features Instagram is working on to help creators generate more money from their content. Social media marketing is a key element of digital marketing, and especially if your audience is young, you really can’t leave out Instagram, because this platform can really function as a storefront for many e-commerce companies. Instagram, the American photo and video sharing social networking service, has always been a platform that aims for more than just social media content. Many people who call themselves Instagram content creators and influencers rely on this platform for their livelihood because depending upon their number of followers in the community and the number of brands they deal in, revenue is generated.
00:51 Facebook’s New Features
On an Instagram Live video, Zuckerberg along with Adam Mosseri, the head of Instagram, chat about the upcoming projects the company is working on for creators to earn multiple revenue streams. According to them, creators will be able to build their businesses and earn money through three new ways. They are:
- Building a marketplace that will connect brands and creators, and vice versa
- Creator shops
- And last, introducing affiliate-marketing tools
01:25 Building Marketplace That Will Connect Brands and Creators
One of the new features includes building a marketplace on Instagram that would help creators to connect with brands and vice versa for sponsored and branded content on Instagram.
This new feature will simplify the process of establishing brand partnerships for both parties as it would help match brands with creators whose content fits the audiences that they are trying to reach.
Though many Instagram content creators or influencers already get paid to post sponsored content, the goal of this marketplace would be for Instagram to play a more effective role in helping brands discover a set of creators that match their ideas. It helps brands target their audience and the creators to connect with the desired brand giving them more reach and better income for promoting their product or service.
02:26 Next up is: Creator Shops
Another feature Zuckerberg discussed was putting more resources toward creator shops and commerce using Instagram's shopping features, which can provide a more personalized and convenient experience.
Instagram creator shops will allow creators to sell merchandise on their profile to the users directly on the platform. These shops are an extension of Facebook & Instagram shops – a shoppable content feed currently restricted to major celebrities such as Kim Kardashian - that were introduced last year.
Zuckerberg states that: “We see a lot of creators setting up shops too, and one part of being a content creator business model is you create great content, and then you can sell stuff, and so having creator shops is awesome.”
Regular users will soon be able to create their own store on Instagram as this feature was previously only available to business accounts.
03:33 Lastly, Introducing Affiliate-Marketing Tools
Zuckerberg points out that as people look to content creator experts and influencers on the platform to check out recommendations on products they are experts on, Facebook plans to help creators get paid promote content on Instagram. The company announced an affiliate marketplace that would allow content creators to get a percentage of sales for products and services that they recommend to their community through their content on Instagram.
Even though creators are earning revenue through Instagram in many ways already, the new features which include partnering with brands, setting up creator shops, and introducing affiliate programs, will play a more active role to increase revenue. Moreover, Instagram is aiming to streamline those processes by making it easy for creators to accomplish everything within the app so that the company can take a cut for itself and/or charge service fees.
However, all the above-discussed new features for earning more revenue are still in the works. Zuckerberg and Mosseri did not announce a date for when these features could be available for creators, though they promised to reveal more information soon.