With the latest upgrade to the Creator Marketplace, TikTok is making it simpler for companies to collaborate with its “megastar” creators. Talent managers will now be able to monitor, implement, and assess the brand possibilities and campaigns provided to their clients. This week, the video-sharing site launched a new Talent Manager Portal under its TikTok Creator Marketplace, an area of the site where advertisers and agencies can find talented content producers from all around the world.
With the new service, talent managers may log into the Creator Marketplace on behalf of their talent to handle deal flow, negotiate contracts, manage creative feedback, and examine different statistics and data on the success of a campaign. With this new feature, TikTok is able to cater to the demands of “celebrity-level” artists as well as those with tens of thousands or hundreds of thousands of followers.
In 2020, for instance, as their online reputation expanded into other mediums including podcasts, books, TV, licencing, tours, and sponsorships, TikTok stars like the D’Amelio sisters signed with the agency UTA. It makes reasonable that they would have their UTA agents check the site for brand queries and negotiate deals on their behalf.
The Talent Manager Portal is now in alpha testing, as verified by TikTok. The free service has attracted a number of agencies, however it is unable to disclose which ones at this moment.
TikTok further specifies that talent managers won’t be able to access the artists’ own TikTok accounts, just their clients’ Marketplace accounts.
TikTok claims that 71% of firms polled saw increased ad recall thanks to creator-led advertising, therefore this method is designed to supplement the Creator Marketplace’s current offers in this regard.
TikTok Creator Marketplace, which opened for the first time this year, is an essential part of the expanding creator monetization ecosystem. It joins Facebook, Instagram, Snap, and YouTube as platforms that help artists build relationships in the influencer marketing sphere. In 2021, the Creator Marketplace added an API that let’s marketing firms like Captiv8 and Influential use its first-party data within their own systems, making it more than just a destination.
In the absence of such markets, marketers seeking to collaborate with top artists had to put in more effort to find these creators; they had to manually navigate through the app or use search keywords to find them, and they couldn’t narrow their searches based on certain criteria. The TikTok Creator Marketplace expands the options available to them by letting businesses select producers based on criteria such as keywords, content kind, and audience demographics.
Both direct invitations and application campaigns (in which brands post a brief and invite artists to submit proposals in response) are viable options for brands looking to collaborate with talent. Automatic matching between authors and briefs is made possible by the application of artificial intelligence and natural language processing by the marketplace’s match tool.
Former COO at Influential and now worldwide head of operations for TikTok’s Creator Marketing Solutions, Adrienne Lahens is in charge of the Creator Marketplace team. Lahens has been in her present capacity for almost a year and a half, and her primary responsibility is to facilitate corporate partnerships and sponsored content for TikTok producers so that they may monetize their work.
According to TikTok, there is a 26% increase in brand favorability and a 22% increase in brand referrals when businesses collaborate with creators. In addition, 71% of TikTok users think that an authentic creator is what currently encourages them to buy from a company.
In the face of stiff competition from the likes of Meta, Snap, and YouTube — the latter of which has just announced it will begin sharing ad revenue with its Shorts (short-form video) creators as of February 1 — resolving issues with creator monetization is crucial to retaining top talent on TikTok’s app. (Despite the fact that TikTok established its own revenue-sharing model last year, it has not yet reached critical mass.)
Some of the most popular producers on TikTok are making tens of thousands, and even hundreds of thousands of dollars, through the platform’s Creator Marketplace thanks to marketing campaigns. There may also be more modest campaigns that give incentives like gifts rather than cash.
TikTok has been mum on how long the alpha testing phase of its Talent Manager Portal will go.
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