Instagram Ad Marketplace

[Stu_Hefner]

I see this being automated like an affiliate network model. Having managers set up ect.

The more we discuss, the more I want to get involved. I ran a shoutout biz briefly because I had large accounts. Andhad contact with various large accounts too for promotions.

 

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[James Fake]

@Stu_Hefner I love bundle of brittany haha

 

[Winning]

I'm sure they need or using some sort of patched together project management software.

Juggling things like that would be super time consuming.

Or they may just email back and forth which can be time consuming. Having a SaaS platform to manage this could be a product in its own I think.
Hmm...

 

[Winning]

You can still get large influence (500k+ followers) But these people have management and you would have to deal with direct to negotiate. Ofcourse, you could probably set up a platform that allows companies to pitch What and how they want influencers to promote their brand. then the influencer can accept the promotion. So basically you would be a mediator And Maybe hold payment till both parties obligations are met? And have great contracts written up for them?

I know it's difficult to get influencers o n board because I've worked with bundleofbrittany , a few pornstars (Don't judge lol) and various fitness and model personalities. It can be done. If you automate it, you will be killing it.

Yeah, I think that we would get some big influencers. We obviously cant get em all... (Cant catch em all.. pokemon reference lol)

Having managers set up ect.

What do you mean by this?

But yeah I really don't want to get in to the social media consulting business- I want the automation platform even if we don't get the huge clients. We will still fill a need.

 

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[Winning]

Update: Getting quotes on starting this marketplace. Quick question: would you say that getting a .com domain is important?

I found a pretty neat domain name that has a different extension uncommon from the usual .com, .net, .org, etc. It is sort of like a .ly, .io but I don't want to give it away too much. Kind of weird how they even have a .cool extension (i.e thefastlaneforum.cool) could be a domain.

 

[Winning]

I don't want this thread to get too off topic. But, this idea can be spinned with Youtube. Connecting youtube influencers to advertisers.

If I get this site built, and things don't go well (I hate to sound negative) but I know this project will cost thousands so a few backup plans

1. Use site code to spin it to Youtube ad marketplace
2. Sell site/code on Flippa, etc
3. Sell site to someone who knows how to take it further

I would obviously not do any of those without atleast a year of working on the Instagram platform.

 

[Winning]

Update: Interviewed a few website developers. Looking like this project will be quite expensive. I think of it as a one-time big investment to get it off the ground. Then, small investments for updates, etc. Will continue to interview. Have had bad experiences with devs overseas(esp India), so thats the reason quotes are high for here in the U.S.

Ohh, I also drew the main wireframes for the site. There is still more logic to frame out. (i.e buying process, etc)

 

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[James Fake]

Stay away from overseas devs!

 

[Winning]

Stay away from overseas devs!

Couldn't agree more. I've learned the hard way. Been burned a few times. No more of that.

 

[Alan at SE]

From our experience we always go direct to Instagram page owners and never had to resort to a middleman. A lot of IG pages are owned by kids who have no idea the value of money or the potential that exists. We've paid anywhere from $10 per shoutout ad to upwards of $250. It's been well worth it for growing our IG followers to over 100k and also gaining sales in return.

 

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[Winning]

From our experience we always go direct to Instagram page owners and never had to resort to a middleman. A lot of IG pages are owned by kids who have no idea the value of money or the potential that exists. We've paid anywhere from $10 per shoutout ad to upwards of $250. It's been well worth it for growing our IG followers to over 100k and also gaining sales in return.

Hi Alan,

Appreciate the response. I'm a reader at SE. Would you say that the process of contacting a page, negotiating prices, sending the media to be uploaded, etc could be simplified? Also, would it be easier to find new people to sponsor on a marketplace?

I guess some rather go straight to the Instagram user then through a marketplace. Same as like for website advertising (some like BSA, Adwords) but others like going straight to the websites.

Thanks!

 

[Alan at SE]

The way we do this is by finding relevant pages and usually they list their contact details. If not, send the owner a direct message. Usually they will have a price sheet but it always advisable to negotiate.

If there was a marketplace, then yes it would be definitely helpful but the problem is we don't go for big brands. It's not always about total follower count but rather relevance and engagement.

I have heard of a few IG marketplaces though but they don't come to mind at the moment.

 

[Winning]

The way we do this is by finding relevant pages and usually they list their contact details. If not, send the owner a direct message. Usually they will have a price sheet but it always advisable to negotiate.

If there was a marketplace, then yes it would be definitely helpful but the problem is we don't go for big brands. It's not always about total follower count but rather relevance and engagement.

I have heard of a few IG marketplaces though but they don't come to mind at the moment.

Got it, thanks for your input. Means a lot coming from someone who has gone through the Instagram ad buying process. That is my main fear going in to this huge project. Figuring out if there is really a need for this.

Some say yes, others say no. Maybe a Youtube ad marketplace is better.

 

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[Winning]

Update: I've found a few sites that charge a monthly fee to create your own marketplace. This can be a breakthrough for me. Won't have to spend thousands and can test the market with this type of service.

 

[Winning]

Quickly finding out that these "create a marketplace" sites are pretty limited to what we want to do.. I mean they are okay, but definitely need some customization to make them work out nicely. I don't know how much they can be customized. Will contact Support for these sites tomorrow.

 

[MJ DeMarco]

I searched but couldn't find anything similar for Instagram and connecting the Instagram top influencers to brands. What do you all think?

Love the idea.

It'd be nice to have a pool of all of the top Instagram accounts so brands could push content opportunities to them. It's a win-win: A monetization opportunity for the big IG accounts and a way for new brands to reach large audiences.

 

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[sitemaster]

Mobile Media Lab appears to be one company which is already operating an Instagram ad marketplace:

From their page:

The original creative agency that is shaping the way brands advertise with influencers and their audiences on Instagram.

Edit:
And here are several others:
tapinfluence.com
instafluence.com
brand-influencers.com
findyourinfluence.com
mediakix.com

 

[Winning]

Love the idea.

It'd be nice to have a pool of all of the top Instagram accounts so brands could push content opportunities to them. It's a win-win: A monetization opportunity for the big IG accounts and a way for new brands to reach large audiences.

Hey MJ, not sure if you saw my "The Start" thread. Would you say this Instagram marketplace is the best idea in your personal opinion? Thanks.

 

[Winning]

Mobile Media Lab appears to be one company which is already operating an Instagram ad marketplace:

From their page:


Edit:
And here are several others:
tapinfluence.com
instafluence.com
brand-influencers.com
findyourinfluence.com
mediakix.com

Thanks for the linkage to the other sites doing similar things. They operate as consulting agencies. We want to automate the ad buying process like BuySellAds.com does. Ours has a different take to it, but its good to see the consulting sites and what not because it shows there is a need and that companies want to advertise on Instagram.

 

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[Winning]

Update:

I've found two marketplace templates that can be customized and used for this Instagram ad marketplace. These templates have the core of what is needed to run this type of site. Messaging between advertisers/influencers, payment system, etc.

Links to demo versions of the template:
http://demo.fiverrscript.com/
http://orjinalshop.net/

What do you guys think? Do you like either of them? Keep in mind they have to be customized like I said, but it is a start and the core of the site.

 

[Davor]

Will you include twitter and pinterest as well? Twitter is very powerful, I owned fitness acc with 400k followers and worked with Bootea and Fittea and made nice money. Be careful on which Instagram accs u will accept because most of them destroyed their accs with doing promotions everyday for the companys that are not even in the same niche.

 

[Winning]

Will you include twitter and pinterest as well? Twitter is very powerful, I owned fitness acc with 400k followers and worked with Bootea and Fittea and made nice money. Be careful on which Instagram accs u will accept because most of them destroyed their accs with doing promotions everyday for the companys that are not even in the same niche.

I think we will only focus on Instagram as there are already other marketplaces for Twitter (myLikes, SponsoredTweets,etc). And yes, we will have to go through a selection process to try and have the best Instagram accounts on our marketplace. Thank you for sharing your thoughts.

 

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[thidr0]

What I'm imagining here is an advertiser will post a promotion request (with any collateral or details or whatever), and then instragrammers accept it, and then you facilitate money exchanges? If it's automated, how do you ensure that influencers follow through and actually post something, and post something acceptable to the advertiser? How do you set the prices? Auction style?

 

[Winning]

@thidr0 The website will list the influencers in our network and then the advertisers can purchase an ad from them. They pay, and then send the details to that influencer. If the influencer accepts, they will post the image to their Instagram account. If they don't accept they can work out modifications or the money will be refunded to the advertiser.

We handle all payments. If the influencers don't post the image, they don't get paid. The influencers set their own prices per post.

If you have any suggestions on improvements let me know. We are basically emulating a marketplace like BuySellAds.

 

[thidr0]

Okay I get it. I'm excited to hear what kind of validation your go through, what kind of research you do, etc. Your sales pitch and strategy to influencers and advertisers. And how the development of the software platform goes.

And if I may sideline the question, you said "we." Do you have a partner? How did all of that go down?

 

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