Instagram is building new tools for influencers to make money
- Mark Zuckerberg wants to give creators more ways to make money on Instagram.
- He described initiatives regarding purchasing, affiliate income and a referral market.
- And he said he wanted to help support a “creative middle class.”
- See more stories on the Insider business page.
Mark Zuckerberg wants to give creators more ways to make money on Instagram.
On Tuesday, Zuckerberg joined Instagram chief Adam Mosseri on an Instagram Live video to discuss upcoming projects the company is working on for the creators.
The two described three new ways Instagram would help creators start their businesses and earn money:
- Provide more resources for designer stores and commerce using Instagram’s shopping features.
- Introducing affiliate marketing tools that will allow creators to “cut” the sales they generate on Instagram.
- Create a marketplace that will connect brands and creators for sponsored and branded content on Instagram.
All are still in the works, and Zuckerberg and Mosseri haven’t given a date when these features might be available to creators.
Introducing new monetization features is key for Instagram and Facebook, as they compete with platforms like YouTube, which pays creators directly through its partner program, and TikTok, the latest rival to threaten hold. from Instagram on the Creator Economy.
Over the past year, the platform has already introduced monetization features such as an ad revenue sharing program for IGTV and tips on Instagram Live.
“We believe that if we help creators make more money on their content, it will help a larger creator economy emerge, which will ensure that there is more content in the services, more ways. to log in. And that will be awesome, ”Zuckerberg said.
While some creators have already launched their own stores – Instagram updated its eligibility to allow creators to sell products as merchandise last year – the platform is working to offer more commerce options. electronics to creators.
Creators “should be able to get a share of the sales of the products they recommend,” Zuckerberg said. He added that this kind of functionality would allow brands (and creators) to better understand their ability to generate sales.
Instagram is also building its own marketplace to allow creators and brands to connect, much like some influencer marketing agencies operate today.
“Branded content is the economic engine of the creator ecosystem in many ways, but it only works if it looks really good to you, unless you’re really excited about the people you work with,” Mosseri said. “And so, I think matchmaking, there is something that we can add a lot of value to.”
Mosseri said he is also concerned that some creators are overpaid, while others are underpaid when it comes to brand deals.
“We just want to help facilitate this in a responsible way,” he said.
Looking towards a “ creative middle class ”
Zuckerberg also discussed how Facebook and Instagram could “help build a creative middle class,” instead of building the already established internet star businesses.
“I think this is a really important topic because again, I mean, our goal that you and I have talked about a lot is to be able to support millions of jobs for the creators who do this kind of work,” he said. he declared to Mosseri.
The pair said Instagram will focus on helping emerging creators with a smaller number of followers.
“I think historically Instagram has done better at creating value for creators who are already established, and we haven’t done it as well with aspiring and experienced creators, people who are trying to get started,” Mosseri said. “I think this is a big mistake on our part.”