Some of you may recognise the term creator marketplace in regards to TikTok. However, it is no longer the only platform with an internal marketplace, as Instagram is now following in its footsteps.
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.