Our weekly social media news roundup helps marketers to stay on top of every social platform’s latest updates, insights, campaigns and more.
UK Ad Buyers Remain Unconvinced About Snapchat
Digiday reported on Wednesday, that UK ad buyers have doubts about Snapchat’s ability to bring a better return on spend for advertisers, compared to Facebook and Instagram.
Why it matters: Snapchat launched in the UK two years ago but hasn’t seen much growth since. The company user base has only grown from 11.2 million to 14.8 million, according to eMarketer. And while the majority of the platform users are young—31 percent of them were aged between 18 and 24 years old in 2018—Snapchat’s isn’t big enough for many advertisers.
The details: Although the updates to Snapchat’s self-serve tools and pixels made it easier to target and measure audiences on Snapchat, they also became more comparable to the app’s competitors, such as Facebook and Instagram. In addition, one of Snapchat’s biggest remaining issues is viewability because ads are still easily skippable which leads to low viewability rates.
WeChat Is Launching Games Platform
A Chinese media platform and mobile payment app, WeChat, debuted its “Mini Games” program in the U.S. at the Game Developers Conference in San Francisco on Wednesday.
Why it matters: “Mini Games” will enable game developers to create and distribute games on WeChat’s platform, help the platform users to find new games and will expand possibilities for content creation.
The details: With over 1,082 million monthly active users, WeChat introduced new opportunities for game developers and advertisers by opening access to current API and localizing developer documentation to facilitate development and publishing.
Here are some key takeaways:
- The Mini Games platform has grown to more than 400 million monthly active users
- The 7-day user retention rate of some the most popular Mini Games has already rocketed to 54%
It is also important to note that WeChat had recently introduced “Creativity Incentives,” which allows a developer to increase value using creativity. Any developer with creative gameplay, art, music or story can apply to join the program and will receive a “Creativity Certified” label, on top of 20% higher revenue share compared to other Mini Games. This incentive also offers creativity protection and protection against copyright infringement.
LinkedIn Introduces Lookalike Audiences, Interest Targeting
LinkedIn announced in a blog post the launch of the three new ways to help marketers easily target the right audiences.
Why it matters: The new features: lookalike audiences, audience templates and the addition of Microsoft Bing search data are designed to increase the scale of marketing efforts and improve ROI.
The details: According to LinkedIn, the new additions will help marketers to grow business by, “reaching high-converting audiences, getting results at scale and engaging new target accounts.”
Also, audience templates should help with finding the right audiences. They give marketers a selection of more than 20 predefined audiences at the moment, which includes audience characteristics, such as member skills, job titles, groups and other.
Instagram Launches “Checkout with Instagram” In-App Shopping Feature
Instagram launched the “Checkout” feature in the US on Tuesday, with more than 20 top brands participating already, including Adidas, Kylie Cosmetics and Warby Parker.
Why it matters: The brands will no longer have to direct customers to their website to shop their products. Also, it is possible that Instagram’s ad business will see the boost because Checkout may convince brands that the social network produces better ROI because it requires fewer steps before purchase.
The details: An Instagram spokesperson told TechCrunch “We will introduce a selling fee to help to fund programs and products that help make checkout possible, as well as offset transaction-related expenses.” But, the company isn’t sharing the amount of the selling fee, “We are testing a selling fee with businesses during the closed beta. It will not change the price of the items for consumers,” the spokesperson said.
Checkout tags will be accessible on feed posts, as well as “Stories,” and “Explore” features. Now, when the user will tap the post to reveal product tags and open one, the “Checkout with Instagram” button will be visible, instead of the “View on Website” button.
New York Restaurants Use WeChat To Boost Business In Manhattan
WeChat, a Chinese media platform and mobile payment app is becoming more popular in the US, as some restaurants are successfully using the app to promote their business.
Why it matters: The app provides an opportunity to localize and market products to specific, niche customers. Eater’s editor, Serena Dai said, “Having a loyal audience of Chinese foodies means restaurants can offer more authentic Chinese food from all regions of China, not just dishes that appeal to Western tastes.”
The details: Dai said many Chinese students are opening restaurants in New York.
“They are not only running the restaurants and cooking the food. They’re also the audience for it. So, they’re also the diners and the ones running the WeChat accounts and following the WeChat accounts. So, it’s this entire network of super-influential young Chinese people who really love food and are making a huge mark on the New York City dining scene.”
According to Dai, the influencers on WeChat get paid to review a certain restaurant, however, she said this doesn’t repel the followers.
“They really just want to hear from people who understand their palate and understand where they’re coming from.”
Analyst Says IG Stories Could Generate $2B In Revenue This Year
According to The Motley Fool, an analyst at Nomura, Mark Kelley, believes Instagram Stories will outsell Snap this year, by a longshot.
Why it matters: Marketers are opting to buy media on Instagram instead of Snapchat, the analyst claims the former will grow four times faster in 2019.
The details: The Nomura analyst believes Instagram Stories will generate $2 billion compared to Snapchat’s $1.5 billion.
“While the ad products that Snap and Facebook make for their respective Stories products are very similar, Facebook has several advantages over Snap for marketers. First of all, marketers are already familiar with Facebook’s ad buying platform. Over 7 million businesses advertise across Facebook’s family of platforms. There’s no need to learn a new system or dedicate a team to buying ads on a separate platform. That reduces marketers’ overall costs, allowing them to pay more for Instagram Stories ad placements compared to Snap Ads.”
TikTok Parent Company Joins Mobile Gaming Scramble
According to Abacus News, ByteDance, the maker of TikTok, is planning to enter the gaming space.
Why it matters: No word yet on how ByteDance would incorporate gaming into their platforms, if at all, but this is an interesting move as Snap and Facebook move the chess pieces for their own gaming verticals.
The details: The article states, “ByteDance…reportedly bought a gaming company called Mokun Technology…Mokun is known for mobile games Flick Up and Fighter of the Destiny. The purchase was revealed by public records on business registration, but ByteDance still hasn’t confirmed the news, telling Abacus that it doesn’t comment on market rumors.”
Editor’s Note: Our weekly social media news post is updated daily. This installment will be updated until Friday, March 22. Have a news tip? We’re looking for changes to and news surrounding social media platforms as they relate to marketing. Let us know at email@example.com.