TikTok Releases Creator Marketplace API to Enable More Brand Collaboration Opportunities
TikTok is making its Creator Marketplace API available to other developers to assist in fostering more brand/influencer relationships. This will allow a variety of third-party organizations to incorporate TikTok's creator listings into their platforms.
In 2019, TikTok debuted its Creator Marketplace, which allows companies to search through registered TikTok creators and present them with campaign collaboration ideas.
The platform is an important factor in TikTok's broader monetization effort, which is crucial to the company's continued growth strategy - because TikTok artists can already earn significantly more money on YouTube and Facebook's platforms, thanks to the developed ad revenue systems in each app.
Short-form video does not offer the same chances since there are no mid and pre-roll promotions tied directly to each clip, thus TikTok needs brand partnerships and eCommerce integrations to provide equal remuneration - and if it can't get this right, you can guarantee that its best stars will eventually transfer elsewhere, taking their huge number of followers with them.
TikTok will be seeking to generate greater exposure for its brand partnership choices, delivering more revenue potential for platform stars and a more efficient way for brands to connect onto key platform behaviors and trends, through the expansion of its Creator Marketplace API.
According to 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.”
Capitv8, a creator database platform, and Influential, an influencer marketing company, are among the first launch partners, and both are now providing the new insights to their clients and partners.
With interest in TikTok's marketing options expected to reach new highs this Christmas season, the added reach of these established platforms will help generate more exposure to TikTok's creator connection tools. This might give a wonderful chance for TikTok to highlight what it can offer in this regard, helping to develop its business offers.
Utilizing knowledge and expertise of established influencers can also be a great strategy, especially for big businesses with higher budgets, considering the distinct creative approach necessary for excellent TikTok campaigns. And if those initiatives are successful, TikTok may become even more of a consideration in the future, which might be another factor that helps it eat into Facebook's dominant market share, further aggravating people in Menlo Park HQ.
TikTok will officially introduce and fully release the Creator Marketplace API next month, according to TechCrunch.