Facebook and Instagram are making changes to the way content creators use social media, so if you’re an influencer who makes their living from sharing their stories, this is a must-read.
Before you panic, it’s good news and when the new updates are finally rolled out to Australian audiences, the change will only enhance your online experience as an influencer. As an influencer myself with a following of 20K followers, these are exciting times.
Currently, creators can tag their favourite brands or products from the brands they work with, or if they have their own branded products they can use the shopping features. But things are about to get better—much better!
Over the next couple of months, Instagram is testing an affiliate tool that allows Instagram Influencers to be rewarded for any purchases they drive. This new Instagram feature means content creators will be able to find new products on checkout, share them with their audience and finally earn commission. Affiliate posts will be tagged with ‘Eligible for commission’ so there’s no mistaking that any purchase will be a commission spinner for the influencer. Initially, the feature will be tested with a small group of USA creators and include businesses such as MAC and Sephora before being rolled around to more brands.
If you have your own product line, Instagram is also making it simpler to create a new shop or add an already established shop to your Instagram profile. It won’t be available in Australia for a while, but you can stay up to date on the new shopping features as they are rolled out by clicking here.
In addition to the new shopping features that are being tested, badges on Instagram Live and Stars on Facebook, provide content creators with an avenue to potentially earn money from their followers.
What are Instagram badges and Facebook Stars?
Instagram Badges
Instagram badges are a way of showing your support for your favourite content creators while they are live streaming. When you purchase an Instagram badge using Apple Store or Google Play during a live video, a heart icon will appear in the live feed next to your name. You can purchase badges up to the value of $250USD per live video. 100% of the revenue goes to your favourite influencer, well aside from the applicable taxes and fees. Google and Apple tax 30%.
Facebook Stars
Facebook Stars allows you to monetise your live stream. Fans purchase Stars and send them to you while you’re streaming. Your supporters can also purchase animated and virtual gifts that are worth a number of stars that convert to dollar amounts and will appear in your live feed.
So why would you want to buy badges and Stars during a live?
If you purchase multiple badges or stars any questions you put in the feed will be highlighted and any comments may be pinned. You’re more likely to have your questions answered and it boosts your interaction with the creator during the live stream.
When you purchase multiple badges during an Instagram live, your questions are highlighted and your comments to the creator may be pinned. Buying multiple badges shows support for the creator and boosts your interactions with the creator during the live.
The social networks are testing the ability for their followers to purchase multiple badges and stars during Instagram and Facebook Live. Similar to Tik Tok where supporters can purchase gifts and send it to their favourite creators, which then allows the creator to earn actual dollars.
Instagram influencers will be able to earn extra money when they meet different milestones while earning badges in Live. As an example; going Live with another creator. While on Facebook, additional stars can be granted if certain requirements are met, such as broadcasting for a certain number of hours.
If you already have a dedicated audience, the new ways to monetise your accounts are an exciting way to increase your income. Or if you’ve been thinking about becoming a content creator, this could be the incentive you need to start.
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