TikTok is looking to help facilitate more brand/influencer partnerships by making its Creator Marketplace API available to outside developers, which will enable a range of third-party companies to integrate TikTok’s creator listings into their platforms.
TikTok first launched its Creator Marketplace back in 2019, providing a way for brands to search through registered TikTok creators that they can then pitch with campaign collaboration ideas.
The platform is a key element in TikTok’s broader monetization push, which is critical to its ongoing growth strategy – because right now, TikTok creators can earn a lot more money on YouTube and Facebook’s platforms instead, via the established ad revenue programs in each respective app.
Short-form content doesn’t provide the same opportunities, without mid and pre-roll promotions directly linked to each clip, so for TikTok, it needs brand partnerships and eCommerce integrations to provide comparable compensation – and if it can’t get this element right, you can bet that, eventually, its top stars will indeed migrate elsewhere, taking their large audiences along with them.
Vine found this out the hard way, and now, through this expansion of its Creator Marketplace API, TikTok will be hoping to generate more exposure for its brand partnership options, providing more revenue potential for platform stars, and a more effective way for brands to tap into key platform behaviors and trends.
As reported by TechCrunch:
“The new Creator Marketplace API allows partnered marketing companies to access TikTok’s first-party data about audience demographics, growth trends, best-performing videos, and real-time campaign reporting (e.g. views, likes, shares, comments, engagement, etc.) for the first time.They can then bring this data back into their own platforms, to augment the insights they’re already providing to their own customer base.”
The additional reach of these established platforms will help bring more awareness to TikTok’s creator connection tools, and with interest in the app’s marketing options set to reach new highs this coming holiday period, it could provide a great opportunity for TikTok to showcase what it can offer in this respect, helping to build its business offerings.
And definitely, given the unique creative approach required for effective TikTok campaigns, using the knowledge and expertise of established influencers can be a more effective way to go, especially for big brands with larger budgets. And maybe, if those campaigns drive results, that could see TikTok becoming an even bigger consideration moving forward, which could be another element that sees it eat into Facebook’s dominant market share, further irritating those at Menlo Park HQ.
TechCrunch says that TikTok will officially announce and fully launch the Creator Marketplace API next month.
Pinterest Launches Pin Ads in Argentina, Colombia and Chile
As it continues to expand its ad offering, in order to maximize its business opportunities, Pinterest has today announced that Pin Ads will now be made available to all businesses in Argentina, Colombia and Chile.
As explained by Pinterest:
“Businesses of all sizes now have access to multiple types of ad formats and targeting options in Argentina, Colombia and Chile, to reach new audiences with meaningful, useful content as they discover ideas and plan new projects.”
Pinterest says that it recently launched its first ads with a small group of early partner brands in these regions, including Tiendas Paris and Publicis Groupe, which has paved the way for today’s full market expansion.
The announcement is the latest in Pinterest’s growing Latin American business push, with Pinterest Ads also made available in Brazil and Mexico last year. The app reaches around 80 million active users per month in the region – over 18% of its total user base – which represents significant opportunity, and highlights the expansion potential that Pinterest still has in this respect.
Further to this, Pinterest also launched ads in Japan just last month, enabling businesses to reach another 8.7 million active Pinners.
It’s somewhat surprising to consider the extended reach that Pinterest is still yet to achieve with its ads business, and how that could translate to more revenue for the company – and with the platform also warning of ongoing revenue pressures throughout 2022, and its overall user base in flux to some degree, it needs to tap into these expanded markets to boost its potential and showcases its value to investors.
Maybe that will be the remit of incoming Pin CEO Bill Ready, who took over from Ben Silbermann last week. The platform has been on a roller coaster ride throughout the pandemic, with usage reaching new highs, then normalizing once again, which has left many unsure what the future holds for the app. Ready, a former Google commerce chief, will now be tasked with stabilizing the ship, and maximizing performance – and you would assume that this would include a significant expansion of its ad business to facilitate more opportunity.
In selling its new Latin American expansion, Pinterest also reiterates that 97% of the top searches in the app are unbranded, and consist of 2-3 word queries, which makes Pinterest an effective tool to reach people while they’re still considering their next purchase.
“Pinterest is one of the rare platforms where it is truly possible for brands to engage with new customers who are intentional, open and making buying decisions.”
There is opportunity in Pins, for sure, and the addition of a Google insider should help to advance its discovery ambitions in this respect.
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