Facebook to Play “Business Matchmaker” in New Update
The news comes on the heels of the announcement that testing of ads in Facebook Stories is underway.
At its recent F8 developer conference, Facebook CEO Mark announced that the company is rolling out a dating app feature this year for building “real long-term relationships, not just hookups.”
But apparently, the platform’s 200 million users who identify as single aren’t the only people Facebook wants to target its matchmaking efforts towards.
Per TechCrunch, the social media giant is working on a new tool that would help match advertisers with social media creators and influencers. Called The Branded Content Matching search engine, advertisers will be able to select biographical characteristics of an influencer or creators’ fans, get in-depth audience stats, and contact them.
The raw materials of the feature were first identified by the German site AllFacebook.de, which leaked the below screenshot.
How will it work? Primarily, advertisers will be able to browse for creators using the below parameters:
- Top countries where they’re popular
- Education history
- Relationship status
- Life events
- Home ownership status
- Home type
The search engine will then curate and provide a list of creators that match the brand based on factors including the search terms entered, the percentage of follows they reach, their engagement rate, follower count, and video views.
Advertisers can bookmark their best matches in private Saved Lists, and then weigh whether or not they wish to move forward in pursuing a product placement or sponsored content deal. TechCrunch reports that Facebook won’t have any involvement in these conversations.
According to the German source, there will also be a third section, “Suggested Creators.” While the site wasn’t able to share a screenshot of this feature, one can infer that it will simply, by virtue of its name, consist of a list of creators similar to those you’ve saved.
From the creator standpoint, the opt-in process is aligned with what was hinted at back in March, when Facebook took to a blog post outlining tools and features it would be testing to improve the creator experience.
“In the coming months, we’re going to explore two new monetization features for creators. First is a tool that helps advertisers and creators easily connect for branded content opportunities on Facebook. Creators participating in the test can set up a portfolio highlighting their area of expertise, and advertisers can search and find creators to collaborate on compelling branded content campaigns.”
The update is making good on this claim, with creators who choose to participate having the ability to put together a portfolio showcasing both qualitative and quantitative highlights such as metrics, audience size, and branded content examples.
Facebook is initially focusing the program on lifestyle creators and brands, per TechCrunch’s report.
As Marketing Dive calls out, with Facebook running out of ad inventory, this may help boost organic brand content and contribute to its mission of serving as a platform where time is “well spent,” and that fosters “meaningful connections.” In other words, Facebook hopes that by tapping into growing influencer marketing space, ads will be received as more authentic, incentivizing more brands to want to utilize the platform to spread content. In turn, this will ultimately enable Facebook to charge more per ads as opposed to selling more ads. Further, with creators have a more streamlined process for monetizing their work, the hope is that they’ll turn to Facebook as their primary platform.
“By getting creators paid, even if not directly by Facebook, they’ll invest more in the quality of their content and size of their following on the app instead of with competitors,” stated TechCrunch. Enter the threat to the existing influencer marketing tech companies whose entire businesses were built upon fulfilling the same purpose.
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