TikTok has recently updated its Creator Marketplace to make it easier for brands to work with its top creators by introducing a new Talent Manager Portal. This new service allows talent managers, with creator authorization, to log into the Creator Marketplace to manage deal flow, negotiate contracts on behalf of their talent, handle the creative feedback and review various reports and metrics about a campaign’s performance. This expansion allows TikTok to now not only serve the needs of creators with tens or hundreds of thousands of followers but those “celebrity-level” creators as well.
This new service is particularly useful for creators who have gained fame through TikTok and are now branching out into other areas such as podcasts, books, TV, licensing, tours and other endorsements. These creators may want to have their talent managers review the brand inquiries and negotiate deals on their behalf through such a portal rather than doing it themselves.
The Talent Manager Portal is currently in alpha testing and the free service has several agencies already signed up. However, TikTok is not able to share the names of testers at this time. It's worth noting that the talent managers will have access only to their client’s Marketplace accounts not the creators’ actual TikTok accounts.
TikTok Creator Marketplace, which was first launched in 2019, plays a key role in the growing creator monetization ecosystem, joining similar platforms offered by Facebook, Instagram, Snap and YouTube that aid creators in developing relationships within the influencer marketing space. Beyond being a destination itself, the Creator Marketplace also introduced an API in 2021 that allows marketing companies like Captiv8 and Influential to tap into its first-party data within their own systems.
In light of heavy competition from other tech giants, TikTok is taking steps to retain top talent on its app by making it easier for creators to monetize their content. Brands who work with creators on TikTok see a 26% lift in brand favourability and a 22% lift in brand recommendations. Additionally, 71% of TikTok users say that a creator’s authenticity is what now motivates them to make a purchase from a brand.
This move also reflects the changing dynamics of the influencer marketing industry, where creators are becoming more savvy about their brand partnerships and are looking for representation to help them navigate the increasingly complex landscape. By providing a platform for talent managers to connect with brands and agencies, TikTok is positioning itself as a one-stop-shop for creators and the brands that want to work with them.
The Talent Manager Portal also gives brands more control over the creators they work with, by allowing them to select creators based on specific parameters such as audience size and makeup, and by giving them access to detailed performance metrics and reports. This helps brands to make more informed decisions about their influencer campaigns, and ultimately leads to more effective partnerships between brands and creators.
In summary, TikTok's Talent Manager Portal is a welcome addition to the Creator Marketplace, which gives brands and agencies an easy way to connect with top talent, while also providing creators with more professional representation. It also provides brands with more control over the creators they work with, which results in more effective partnerships. As the influencer marketing industry continues to evolve, TikTok is positioning itself as a leader in this space, by providing a platform that caters to the needs of both brands and creators.