In an effort to increase their support for influencers and creators, Instagram and Facebook on Tuesday announced plans for new affiliate marketing and e-commerce features, According to the blog.
Specific Instagram creators can already feature products from affiliate brands or sell their own via the Shops feature. In the next few months, the platform will be testing a “native affiliate tool” that will enable creators to earn commissions on purchases they drive by sharing items with their followers.
Instagram and Facebook have also improved their Instagram Live and Stars on Facebook badges, helping creators earn money from their followers. Instagram and Facebook users can now earn extra payments when they achieve certain achievements, according to the ad.
Rolling out these e-commerce features builds on the efforts of Facebook and Instagram to help users monetize their audience and products. In 2020, Instagram Offer monetization features For Instagram Live, IGTV, and First time shopping in reels To allow merchants and creators to tag their products. Earlier this year, the podium Put up a live room A feature to allow users to directly host virtual rooms with up to three other users.
To kick off this latest set of features, Instagram is testing its partnership program with US-based merchants and creators, including retailers and brands like MAC, Sephora, and Pat McGrath. The company said it will expand to include more partners in the future. The social network also indicated that select users can create a store and increase product launch sales with one of four companies: Bravado/UMG, Fanjoy, Represent and Spring. This feature will be available to all eligible US creators by the end of the year.
“We want Instagram and Facebook to serve as a home base for creators to tell their story, grow and make a living,” the company wrote in its announcement. “Whether they’re just starting out or they’re on their way to building their business – we want to support creators and give them ways to achieve their goals.”
Meanwhile, other social platforms are revealing new features to take advantage of emerging social commerce trends. Earlier this week, Pinterest debuted His shopping list feature, allowing users to save product pins and receive price reduction alerts. And last month, Snapchat and Poshmark Teamed up to create Poshmark Mini, which allows Snapchat users to browse specific products, attend virtual shopping events and purchase items from Poshmark’s bestselling brands, all within Snapchat.
Research shows that streaming and social commerce is on the rise. According to a report by Coresight Research, the live streaming market is expected to grow to 6 billion dollars by the end of this year and $25 billion by 2023. A 2020 report from Sprout Social It found that the majority of shoppers buy from the brands they follow on social media, and spend more with the brands they follow. Plus, 2020 Search from Poshmark He noted that more than half of consumers are open to buying goods via social media rather than the company’s website, and three-quarters of shoppers will make purchases from other people online.