To make it simpler for companies to collaborate with their top creators, TikTok has expanded its Creator Marketplace to include a Talent Manager Portal, allowing talent managers to easily monitor and assess marketing opportunities and campaigns offered to their clients.
This network connects brands and agencies to 800,000 skilled creators globally. But it’s uncertain when the Talent Manager Portal will drop testing and become available to the public.
Agents can control every part of their customers’ listings through this new interface, including any brand deals made available through the marketplace app. The business acknowledged that the Talent Manager Portal is now in alpha testing.
Several agencies have already registered for the free service. The business hasn’t yet disclosed the testers’ names, though. It’s unclear whether any talent agencies could join or whether the service will only be accessible to those collaborating directly with TikTok.
How Does the Talent Manager Portal Work?
There will be creator authorization for the new service. It’ll oversee the transaction flow, negotiate contracts on its talent’s behalf, handle creative criticism, and examine various reports and data on campaign effectiveness.
The company declared that it’ll now cater to the demands of “celebrity-level” creators and those with thousands and millions of followers.
For instance, TikTok celebrities like the D’Amelio sisters teamed up with the agency UTA in 2020 because of their increased exposure online in new fields like books, podcasts, TV, tours, licensing, and other sponsorships.
Although agents won’t be able to view the creators’ actual TikTok accounts, the platform will let them choose how their talent is presented to businesses, which may help them fine-tune and boost their pitch for sponsored content.
The system intends to supplement the Creator Marketplace’s existing offerings aimed at brands looking to leverage the effectiveness of creator-led advertising.
Given that so many TikTok users are now well-known stars, it makes sense to offer more tools to help manage these creators.
According to TikTok, brands that partner with creators experience a 26% increase in brand favorability. The number of brand referrals has increased by 22%. Additionally, 71% of TikTok users believe a creator’s credibility inspires them to buy from a brand.
This is another method TikTok uses to pay their best stars. Monetizing short-form video is more difficult than standard video content because mid- and pre-roll adverts can’t be added for direct monetization.
Instead, TikTok relies on facilitating brand partnerships to support its biggest stars or offering minimal funding through its Creator Fund.
Although TikTok is working to include more in-stream and eCommerce monetization opportunities, those haven’t yet established themselves as the app’s major revenue generators.
What’s TikTok Creator Marketplace
The marketplace also uses Natural language processors and AI to automatically locate potential producers by mapping creators based on their content.
The TikTok Creator Marketplace, first introduced in 2019, plays a significant role in monetizing creators and borrowing ideas from comparable platforms provided by Instagram, Facebook, YouTube, and Snapchat.
Until these companies started offering such platforms, brands wishing to collaborate with top creators did much more of the legwork themselves, browsing through apps and using search terms to find creators without the opportunity to search particular parameters.
The TikTok Creator Marketplace gives them access to more resources by letting brands pick creators based on keywords, the video being shared, and filters based on audience size and demographics. Brands can work directly with talent or via “application campaigns.”