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Content Creator Resources & Tips

Instagram Takes on TikTok With New Creator Marketplace

Updated on June 29, 2022
4 minute read

A matchmaking service for brands and creators on Instagram? Sign us up 🤝

Published June 29, 2022

Instagram’s Creator Marketplace has officially entered the chat!

In an announcement made by Mark Zuckerberg, CEO of parent-company Meta, he noted, “We're testing a set place on Instagram where creators can get discovered and paid, and where brands can share new partnership opportunities.”

This is huge for creators and brands — offering a new, streamlined way to connect and make money on the platform.

And while this news doesn’t come as a total surprise — the company has been working on monetization tools for a while now — it does cement the fact that Instagram is evolving to support a creator-first economy.

Find out everything you need to know about the latest features below:

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What is the Instagram Creator Marketplace?

The Instagram Creator Marketplace is a dedicated space where creators can be discovered, connect with brands, and paid on the platform. 

Think of it like Instagram’s very own matchmaking service. 

The unique tool allows brands and creators to seek relevant partnership opportunities between one another, all without ever having to leave the app.

Now, if this all sounds familiar, you’re not wrong.

Similar to TikTok’s Creator Marketplace — where brands can discover top TikTok talent in-house  — Meta is expanding their functionality toward a creator economy, too.

phone with instagram creator marketplace open on screen

Here’s how ​​the new Instagram Creator Marketplace works:

Once a brand has discovered a creator through Instagram’s discovery feature, they can message the creator through the partnership messaging feature — a folder within the app that keeps partnership requests separated. 

From there, brands can send through project details including necessary deliverables, rates, and facilitate payments (no negotiating with managers required!).

Making it easier than ever for brands and creators to collaborate and earn a living on the platform.

PSA: Later is a social media scheduling tool trusted by over 4M businesses, creators, and social media managers. Plan and automatically publish your Instagram posts with Later – sign up for free today:

Instagram Creator Marketplace Features: A Breakdown

Instagram has rolled out four new tools to streamline branded partnerships on the Creator Marketplace, let’s get into them:

  1. Discovery

  2. Partnership Messaging

  3. Projects

  4. Payments

#1. Discovery Feature

Instead of brands tirelessly scouring the internet for hours (sometimes days!) to find the right influencer, Instagram’s made it easier than ever for brands and creators to unite.

Enter: The Discovery function.

phone with instagram creator marketplace discovery feature open on screen

Here, vetted brands can quickly discover creators that match their brand ethos and creators can indicate their interests and topics that align with their work — talk about a match made in content heaven.

#2. Partnership Messaging Feature

Say goodbye to opportunities getting lost in the DMs.

Instagram’s Partnership Messaging feature lives as its own folder within your DMs, keeping offers and partnerships separated and, most importantly, organized. 

phone with instagram creator marketplace partner messaging open on screen

#3. Projects Feature

Much like a statement of work or deck, Instagram’s Project tool contains all the relevant information regarding a creator’s project.

phone with instagram creator marketplace projects feature open on screen

Shared within the Partnership Messaging feature, Projects will include the full scope of work and vital details including deliverables and rates.

#4. Payments Feature

Now, let’s talk $$$.

Coming soon, creators will finally be able to get paid directly on the app.

phone with instagram creator marketplace payments open on screen

With Instagram’s Payment tool, brands can pay creators once a project is complete without ever leaving Instagram.

And even better, creators will be able to track payments within the Tools section of their dashboard, win-win!

As Instagram continues to expand their functionality toward financially supporting the creator economy, it’s a great time to be a creative on the platform. 

Will you be dipping your toes into Instagram’s new brand x creator matchmaking services? Let us know over on Later’s Instagram account. 

In the meantime, get the latest Instagram news, strategies, and tips with our weekly newsletter. Subscribe today — for free:

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