Instagram expands its marketplace feature connecting creators, brands
Technology
Brands will filter out creators as per content category
(Web Desk) - Instagram announced today the expansion of its marketplace tool, connecting brands with creators for paid partnerships or ads, to eight new countries.
These markets include Canada, Australia, New Zealand, the United Kingdom, Japan, India, and Brazil. The platform, initially tested in the U.S. in 2022, has since onboarded "thousands" of creators and brands.
Meta, Instagram's parent company, introduced API features for creator outreach and brief structuring last year. In addition to making the platform available in the mentioned countries, Meta plans to invite Chinese export brands to collaborate with creators outside China.
Brands and creators will be invited to join the marketplace in these regions over the next few weeks, allowing marketers to approach creators for paid partnerships or partnership ads, enabling advertisers to promote organic content as advertisements.
After creators sign up on the platform using the professional dashboard in the Instagram app, they can showcase their content and specify brands and interests that align with their profile.
Within the marketplace, Meta facilitates brand-creator partnerships for specific marketing campaigns using its machine learning algorithm.
Brands have the option to manually search for creators and apply filters such as creator and audience categories, as well as ad experience, to fine-tune their search results.
Creators can find all the requests and brand conversations initiated through the marketplace in a dedicated Instagram folder named "Partnership messages."
They can also review campaign details within the app. Instagram's competitors, such as Snap, YouTube, and TikTok, also provide creator marketplace features.
Additionally, some startups are addressing the challenge of connecting brands with creators. Catch+Relase, backed by Accel, aids brands in discovering licensable content.
Agentio, with $4.25 million in seed funding from Craft Ventures and AlleyCorp, has developed a platform to streamline the process of YouTubers selling ad slots in their videos.
Breaker, supported by investors like Marc Benioff, former TikTok CEO Kevin Mayer, and RGA Ventures, links record labels and artists with influencers for promotional campaigns.
