Where traditional marketing emphasizes the creation of novel material, social media marketing is all about finding creative ways to refresh all of the amazing content that already exists out there on the internet. And based on their most recent updates, the giants of social media are finally catching on.
As new statistics indicate that influencer marketing has a huge impact on women’s shopping habits and video content is now more popular than ever, Reddit plans to let brands get in on the UGC action, and Pinterest expands its video advertising options on mobile. Instagram is rolling out what we predict to be one of many new video platforms, and Facebook continues to introduce more targeting options for developers.
Read more below for the full scoop!
Women’s purchasing influenced by social media
What: The convergence of mobile, social media and personal advocacy is leading female consumers to new products and brand discovery.
Key stat: 86% of female adults agree with the following statement: “Social media content has become a chief source of online research when I’m thinking about making a purchase.”
Challenge: Despite its promise, however, social media has been slow to carve out a significant share of the ecommerce market. As of 2014, social media channels—including Facebook, Twitter, Instagram, and Pinterest—contributed to just 1.7% of total ecommerce sales, according to research firm Custora.
Facebook adds action-based bidding to mobile app install ads
What: Advertisers can further target ads based on those who are most likely to add something to their shopping cart, make a purchase, or complete a level.
Why: Developers have been asking for these new bidding options for a while now.
Bidding options: Advertisers can bid on specific actions such as level completion, launching the app, adding payment information, completing registration, making a purchase, rating, searching, spending credits, and viewing content.
Instagram copies Snapchat’s Live Stories
What: Instagram is adding another video-focused channel to its Explore feature, this time aiming to highlight multiple perspectives on live events. The new channel is eerily similar to Snapchat’s “Live Stories,” givings users access to other posts related to an event or location.
Why: Since the total time Instagram users spend watching video increased by 150% over the past six months, Instagram is putting more focus on video, and looking at how to capitalize on that demand.
What’s next: Is live video streaming next for Instagram? With this latest update, Instagram demonstrates that it is intent on becoming a video platform.
Pinterest launches mobile-only video advertising
What: Because of the interest and popularity of video (74% of all internet traffic will be video in 2017), Pinterest has just added a new option which allows businesses to use video for marketing purposes.
How it works: Called “Promoted Video,” this option offers businesses the ability to expand video and list relevant products in a separate tab below the video content. Promoted Videos on Pinterest can be as long as 5 minutes, and business advertisers can choose which of the frames to show while users scroll their Pinterest feed.
Availability: Currently, Promoted Video is available to US and UK businesses that work with a Pinterest Account Team, but Pinterest is planning to roll it out to everyone in the future.
Reddit lets brands promote user posts
What: Marketers now have the ability to promote and sponsor organic posts they find relevant to their brand or product.
How it works: “If someone creates a giant replica of a Taco Bell hot sauce packet, for example, and shares it on Reddit, the restaurant chain could step in and sponsor that post. In turn, Reddit will display it in different parts of its website and target specific users that the brand wants to reach.” (h/t AdAge)
Downside: Potential backlash from the Reddit community. The typical Reddit user is skeptical of corporate interference, so this change may not go down so well.