At the time when Apple’s WWDC is grabbing headlines, Facebook’s creator week has sort of slipped under the radar.
During this week, Mark Zuckerberg introduced the millions of creators on his platform to new ways of making money. Let’s list some highlights.
Advertisers will be able to track where a lead originates. If it did from a creator, then the creator gets paid.
Instagram is also letting small sellers set up stores within the app so the purchase cycles stay within the Facebook ecosystem.
For now, Facebook says it won’t ask for commissions from any of these sales. Not until 2023. But even then it promises it won’t demand the 30% that Apple charges.
So much largess: Instagram isn’t doing this out of love for the creator ecosystem. Even if the platform won’t take a penny from these purchases, it gets data. Not just about the buyer, but also the seller.
How can this scale-up? Let’s imagine company A needs to sell its new line of shoes. It can find a popular creator and negotiate a deal. Or it can go to Instagram and ask the platform to help find a creator who will not only fit the budget but also the target audience. That’s when Instagram truly makes money.