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87% of its users say influencers have inspired them to make a purchase, and 70% of shopping enthusiasts visit Instagram to discover their next purchase. Brands report Instagram influencer marketing ROI is over 5X: $5.20 for every $1 spent on influencer marketing on Instagram. That’s why Instagram has finally decided to launch an Influencer Marketplace and it’s going to be amazing for you - whether you’re a brand or an influencer. Stick with us to know what you can expect from the all-new Influencer Marketplace.
What is Influencer Marketplace?
The influencer marketplace is a set of online filtering tools that help brands and influencers connect with each other. And for your influencers, the influencer marketplace is one of the best ways to connect with brands that are already looking for someone just like them. You don’t have to hope for a brand to sponsor you. Every brand on the platform is looking for an influencer who is a great fit for them, and if you play your cards right, it could be you.
What does it mean for you?
The launch of Influencer Marketplace is a smart move since Instagram is a major player when it comes to influencer marketing. META's Zuckerberg aims for smaller brands to monetize faster with this new Instagram Marketplace. As a brand, you can expect an increasing return on your services. As an influencer, you can expect to get connected with great brands. So, whether you’re a brand trying to expand your reach or an influencer looking to grab some great sponsorships, this update is great news!
What to expect?
Instagram influencer marketplace will offer a host of great features to brands and influencers. As an influencer, you can add interest by selecting the brands and topics important to you. You can keep your partnership messages organized and find a particular brand’s project details - including the payment offered.
As a brand, expect your life to get much easier with the launch of the Instagram influencer marketplace. That’s because there are millions of influencers out there, and screening them one by one would take…well, forever. The launch of influencer marketplace will address the scarcity of the “right” influencers and make the process of influencer marketing seamless. Now you can expect more influencers to reach out to your brand for collaborations; that means higher ROI than ever!
Conclusion
Whether you are a brand or an influencer, this upcoming marketplace update calls for a celebration! The launch of Instagram influencer marketplace will strengthen the brand-influencer relationship and solidify the future of influencer marketing in the eCommerce world. While the Instagram influencer marketplace is still being developed, brands and influencers can still launch great brand-partner relationships.
Have a question? Get in touch with us today! We help our clients make better decisions for their eCommerce businesses and allocate their marketing budget through proper planning. If you’re stuck in your eCommerce journey, don’t hesitate to ask for help, we’re here for you.
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Articles by Faraz Haider
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