October 27th, 2021: Happy STC Day! Let’s jump in. Lots to talk about in the world of influencer marketing!
In today’s edition:
- Instagram now allows for branded content ads in Reels
- Facebook is changing their name
- Shopify and Spotify are teaming up
Instagram Adds Creator-Centric Features
Instagram has started to roll out branded content ads in Reels globally.
What does this mean?
We’re glad you asked! Businesses and creators can now pay to amplify feed posts, Stories, or Reels within the platform in order to extend the reach of their content. This boosted content will appear as a branded content ad within Reels. This feature aims to bridge the gap between creators and businesses and make it easier than ever for them to find each other.
Instagram is testing a designated section in DMs for partnership messages that will allow brands to filter and discover creators. Creators can use this feature to create a list of brands they want to work with which will give them priority if those brands search for partners. Brands will be able to use data and unique filters to discover creators and manage multiple campaigns.
These features are being tested first with US-based creators and brands such as e.l.f. Cosmetics, Eva NYC, and Dr. Dennis Gross.
Last but not least…
Instagram is testing affiliate capabilities in the U.S. where select creators are given the ability to have a digital storefront on their profile. This feature allows creators to highlight all the products they love in one place. These creators will have a “View Shop” button on their profile and will earn a commission for the purchases they drive.
We love to see Instagram taking steps to support creators and boost the creator economy. For many influencers, this is how they make a living, which is why they will favor the platform that gives them the most opportunity to monetize. TikTok has already been allowing influencers to connect to Shopify and drive sales within the platform. As the saying goes, a rising tide lifts all boats. As one brand takes steps to prioritize creators, others will follow suit, which is great for the creator economy. This rivalry between Instagram and TikTok is only urging each platform to constantly reinvent the wheel and continue to put creators first.
Facebook Teases a Name Change
Amidst their bad press, Facebook announces plans to change their name this week.
Why the sudden name change
Facebook plans to change their name in order to reflect their new image as a “metaverse” that is more than just a social platform. Facebook has recently been toying with futuristic technologies such as augmented reality glasses, so this name change is most likely meant to separate the old Facebook with the new.
Further proving how all-in Facebook is with its new branding, it announced plans to hire more than 10,000 employees to work on the metaverse in Europe. This past summer, Mark Zuckerberg stated, the metaverse is “going to be a big focus, and I think that this is just going to be a big part of the next chapter for the way that the internet evolves after the mobile internet.”
Back to the bad press
We all know that The Wall Street Journal has slowly been releasing The Facebook Files exposing internal information that a whistle-blower named Frances Haugen brought to light. Well, it gets worse. Not only have even more documents been released, the Facebook employee turned whistleblower is testifying to the British Parliament. She is testifying that Facebook puts profit over people, and if action isn’t taken now, it may become too late.
Does now really seem like a good time for a name change? We can all agree that there are some changes that need to be made at Facebook, but changing their name won’t distract from the internal issues going on. On the upside, Facebook rebranding and steering away from being a social platform is an exciting step towards the future. We are curious if this name change applies to the platform itself, or to the entire holding company. Look at Google for example; in 2015, Google reorganized under a holding company named Alphabet. This led to a large conglomerate of tech that is more than just a search engine. Facebook – so long, farewell! See you in the metaverse.
Shopify and Spotify: A Dynamic Duo
Shopify and Spotify are teaming up to bring e-commerce opportunities to artists.
Tell me more!
Since Shopify is already powering the online stores of many performers, why not team up and empower artists to grow their brand? Performers will be able to link their Shopify stores directly to their Spotify pages. This is especially important in a time where many artists can’t physically be with their fans due to COVID-19 restrictions.
Although at first this may seem like an unlikely pair, we think this duo will put artists at a huge advantage. Seems like a no brainer to go to the place where fans are already engaging with performers most and add monetization opportunities. It’s all about making monetization easy and seamless for the creator. Even large celebrities with pre-existing businesses can utilize this new feature since Spotify is no stranger to high columns of traffic.
PayPal Says it Isn’t Interested in Pursuing Pinterest
Google Launches ‘Google for Creators’ Platform
Instagram Adds Live-Stream Scheduling to Drive More Awareness and Viewers