As influencer marketing becomes more effective for brands large and small, opportunities for influencers are expanding on many kinds of platforms. Snapchat, an app that revolutionized social media around 2012, has introduced a new Creator Marketplace. The new Marketplace allows brands to find and partner with influencers. Influencers, or Creators as they are known by Snapchat, set up profiles that showcase their work and allow brands to easily contact them for collaboration.
The Marketplace allows influencers to market themselves and show off their skills regarding generating an audience and marketing a product in their own unique way. On the app, an influencer can apt to share audience insights such as demographics and reach. An influencer can also provide a direct point of contact for brands to reach them. And, to great appreciation from creators, Snapchat has said it will not take a cut of transactions made through Marketplace.
Snapchat burst onto the social media scene in the early 2010s as a game-changing photo-sharing app. Snapchat introduced stories, an ever-popular concept that persists successfully today. The app was bought by Facebook in 2013. After a few rough years, the company’s improvements to its Stories tab and the addition of a new way to share viral Snaps called Spotlight revitalized the way users consume content on Snapchat. Those improvements brought Snapchat’s stock price to an all-time high of $83.11 per share in 2021. The company started dipping its toes into the influencer space in a way, by offering payment to users whose Snaps go viral in Spotlight.
Spotlight seems to imitate TikTok with its delivery of a full-screen experience with short videos. And like TikTok, Snapchat is most popular with 15- to 25-year-olds. These videos are most often funny, surprising or fascinating. Snapchat has also keyed in on geotags to localize the Spotlight experience.
Some of the top influencers on Snapchat create content that makes people laugh. David Dobrik, who has a whopping 6.8 million Snapchat subscribers, and Brittany Furlan are among the top humor creators on Snapchat. Another top Snapchat creator, Liza Koshy, also a former Vine star, parlayed her success with Snaps into presenting gigs, including hosting the live pre-show at the 2017 Golden Globes.
Many successful influencers on Snapchat are already established stars who crossed over from another platform. One limitation of Snapchat’s potential for influencers is the fact that users will most often interact with only two types of people: people they personally know and influencers. The Creator Marketplace might give creators the opportunity to climb the ladder in terms of financial gain and attention, instead of being either mostly unknown or a star influencer.
The new Creator Marketplace represents another interesting step forward for Snapchat as far as marketers are concerned. The Marketplace can organize the app’s offerings for influencers, which should result in more visibility for creators and more options for brands at many different price points.
Augmented reality creators gave Marketplace its first look in 2021’s trial run. Lens creators are people who create augmented reality experiences called Lenses for use in the app. Snapchat created a marketplace of sorts for Lenses at that time, displaying the creator’s name alongside Lenses that it chose to feature for any Snapchat user to try.
The new Creator Marketplace is sure to add some incentive for influencers to join Snapchat. As influencer marketing continues to grow in popularity, Marketplace could give Snapchat a leg up in the eyes of brands and influencers alike.