Good news for the brands and influencers. Facebook-owned Instagram is now making a marketplace where brands can directly come in touch with influencers who they want for promotion of their brand products.
In a live video on Instagram, CEO of Facebook, Mark Zuckerberg and Instagram head Adam Mosseri made this announcement. Mosseri said, “Branded content is the economic engine behind the creator ecosystem. Matchmaking is something we can add a lot of value for.”
The company has not yet given out any other information as to how this is going to work. Since the onset of the pandemic, more and more people were using the App for in-person entertainment and business. Since then, the company has tried to help people make money. This marketplace move is one of the new initiatives that the App is taking for this. The company is helping people make money by bringing in revenue for videos, tipping, and various other ways.
For a long time, Instagram did not get involved in brand partnerships with influencers directly. They thought that the App would become too commercial. People who have a high following frequently get approached by different brands to promote their products. That has resulted in an opaque system, where prices paid for the same kind of promoted posts vary greatly, Mosseri said.