Read on Twitter
Mark Zuckerberg and the Head of Instagram, Adam Mosseri, had a 40 minute live conversation discussing new and exciting features coming to Instagram to empower the creator economy.
Key Takeaways/Clips Below
$FB
Key Takeaways/Clips Below
$FB
1/ Zuckerberg on the creator economy
“A lot more people are getting to engage in creative work rather than jobs they find monotonous. You want to give people the tools to do that as a hobby and so it can be a job for millions of people."
$FB
“A lot more people are getting to engage in creative work rather than jobs they find monotonous. You want to give people the tools to do that as a hobby and so it can be a job for millions of people."
$FB
2/ $ Creator Economy
"One of the bigger pieces that needs to get built out, & it feels like we are at an inflection point is around monetization. There are lots of different models."
- Subscriptions & Tipping
- Advertising revenue share
- Creators plugging into commerce
$FB
"One of the bigger pieces that needs to get built out, & it feels like we are at an inflection point is around monetization. There are lots of different models."
- Subscriptions & Tipping
- Advertising revenue share
- Creators plugging into commerce
$FB
3/ Creator Shops
"Businesses and small businesses can set up shops on Instagram and Facebook to sell stuff online. We have seen a lot of creators setting up shops too. One part of creator business model is you can create great content and then you can sell stuff."
$FB
"Businesses and small businesses can set up shops on Instagram and Facebook to sell stuff online. We have seen a lot of creators setting up shops too. One part of creator business model is you can create great content and then you can sell stuff."
$FB
4/ Creator Shops
This feels like low hanging fruit. Many creators/influencers use Shopify to sell their merch and would plug into Instagram Shops easily.
The nature of limited time clothing drop sales by brands such as Nelk & Supreme pairs well with the traditional feed
$FB
This feels like low hanging fruit. Many creators/influencers use Shopify to sell their merch and would plug into Instagram Shops easily.
The nature of limited time clothing drop sales by brands such as Nelk & Supreme pairs well with the traditional feed
$FB
5/ Affiliate Marketplace
"People look to creators for recommendations about what is good, especially for spaces they are experts on and creating around. Creators should get a cut of the sales of the things that they are recommending."
$FB
"People look to creators for recommendations about what is good, especially for spaces they are experts on and creating around. Creators should get a cut of the sales of the things that they are recommending."
$FB
6/ Affiliate Cont.
Integrating this with Instagram Shops would be incredibly powerful.
It's easy to imagine creators tagging products by SKU level in their posts & followers easily purchasing the items via Instagram Shops. Each purchase = small commission for the creator.
$FB
Integrating this with Instagram Shops would be incredibly powerful.
It's easy to imagine creators tagging products by SKU level in their posts & followers easily purchasing the items via Instagram Shops. Each purchase = small commission for the creator.
$FB
7/ Affiliate Cont.
Using this post from @McIlroyRory as an example:
Imagine if he could tag the gym bag, individual golf polos, etc. by SKU and checkout could be handled via Instagram Shops.
This is the holy grail of marketing. An ad that truly doesn't feel like an ad.
$FB
Using this post from @McIlroyRory as an example:
Imagine if he could tag the gym bag, individual golf polos, etc. by SKU and checkout could be handled via Instagram Shops.
This is the holy grail of marketing. An ad that truly doesn't feel like an ad.
$FB
8/ Creator & Brand Marketplace
"This will have very favorable terms to creators. We aren't building this out to make a lot of money. If we help creators make more money that will help a creator economy emerge which will make it so there's more content across the services."
$FB
"This will have very favorable terms to creators. We aren't building this out to make a lot of money. If we help creators make more money that will help a creator economy emerge which will make it so there's more content across the services."
$FB
9/ Marketplace Cont.
"Some people are getting overpaid and some are underpaid. We want to help facilitate that in a responsible way. Imagine being a brand - I want to reach 20 year old women and we could provide a list of creators to connect to."
$FB
"Some people are getting overpaid and some are underpaid. We want to help facilitate that in a responsible way. Imagine being a brand - I want to reach 20 year old women and we could provide a list of creators to connect to."
$FB
10/ Creator Middle Class
"Instagram has done a good job at creating value for creators who were established. We haven't done as well with aspiring creators and that's been a big miss on our part."
$FB
"Instagram has done a good job at creating value for creators who were established. We haven't done as well with aspiring creators and that's been a big miss on our part."
$FB
11/ Creator Middle Class
It's nice to see $FB address this.
Discovery & focusing on aspiring creators is where TikTok has been able to gain an edge versus YT & Instagram. For the first time, aspiring creators can gain a following much more quickly.
Ex) https://www.bbc.com/news/technology-55048385
It's nice to see $FB address this.
Discovery & focusing on aspiring creators is where TikTok has been able to gain an edge versus YT & Instagram. For the first time, aspiring creators can gain a following much more quickly.
Ex) https://www.bbc.com/news/technology-55048385
12/ Creator Middle Class
"Reels is the first part of Instagram that is proactively trying to find new talent and help it break whereas historically we have gone with whatever has a lot of engagement."
$FB
"Reels is the first part of Instagram that is proactively trying to find new talent and help it break whereas historically we have gone with whatever has a lot of engagement."
$FB
13/ Creator Middle Class & Affiliate
"By showing that you have loyalty from your followers and you can help drive sales the affiliate program can give signal for who are going to be the people brands should want to be associated more with."
$FB
"By showing that you have loyalty from your followers and you can help drive sales the affiliate program can give signal for who are going to be the people brands should want to be associated more with."
$FB
14/ Final Thoughts
Zuck and the rest of Facebook clearly understand how important creators are to their platform. Monetization initiatives for creators are crucial because it creates a flywheel (more content, more engagement, more ads, etc.) for the rest of the business.
$FB
Zuck and the rest of Facebook clearly understand how important creators are to their platform. Monetization initiatives for creators are crucial because it creates a flywheel (more content, more engagement, more ads, etc.) for the rest of the business.
$FB
15/ Final Thoughts
- If $FB can pull off the Affiliate Marketplace well $PINS is in huge trouble.
- It's under discussed how Instagram, TikTok, $SNAP, and other social media companies willingness to pay creators based off views is a threat to YouTube's flywheel.
- If $FB can pull off the Affiliate Marketplace well $PINS is in huge trouble.
- It's under discussed how Instagram, TikTok, $SNAP, and other social media companies willingness to pay creators based off views is a threat to YouTube's flywheel.
Thoughts and feedback welcomed:
@Matt_Cochrane7
@WallSt_Dropout
@AutumnCapital
@JerryCap
@cap_zay
@PythiaR
@TidefallCapital
@gannonbreslin
@Matt_Cochrane7
@WallSt_Dropout
@AutumnCapital
@JerryCap
@cap_zay
@PythiaR
@TidefallCapital
@gannonbreslin
