Read our roundup of the latest marketing news to help with your social media marketing mix.
LinkedIn Unveils Service Marketplace Globally Following Beta Launch
The platform best known for matching employers with their permanent workforce is getting into the freelance space. The service marketplace, a new feature that allows individuals to advertise themselves for short-term opportunities launched globally last week following the U.S. Beta tests that saw more than two million participating users. The marketplace features over 250 job categories, with plans to expand to 500, and closely aligns with how the Microsoft-owned company sees the future of work. This feature launches alongside other key platform updates, including the ability to filter jobs by remote, hybrid and on-site and view companies’ vaccination requirements. These features will allow the company to continue to meet market needs around job searching, according to LinkedIn, which has already seen confirmed hires increased by 160% in 2021.
Snapchat Ad Revenue Hurt by Apple’s Privacy Changes
“Do You want to allow this app to track your activity across other companies’ apps and websites?” It’s a notification iPhone users are used to seeing after Apple’s rollout of iOS 14.5, which requires all apps to ask for permission to show targeted ads and share your data with third-party organizations. Snap has shared that the update has hurt its ability to target and measure its digital advertising, which caused shares in the company to plummet by 25% following their earnings call on Oct. 21. However, it’s not all bad news for the social-media org: Daily active users rose 23% year-over-year to 306 million, beating analyst estimates of 301.9 million. Analysts will watch closely to see how the privacy changes might affect the typically lucrative four quarter holiday ad blitz.
Twitter Tests In-Conversation Ad Placements
Looking to increase their relatively small share of the online ad market, Twitter has announced the testing of new ad placements within conversation threads on their iOS and Android apps. Users will begin to see promoted tweets in either the first, third or eighth reply under a given tweet. The move has been met with a negative response, with the placements being called “intrusive and annoying”. Twitter lags well behind giants like Amazon and Facebook when it comes to ad revenue, earning $1.05 billion to the other two’s $10.4 billion and $8 billion respectively in Q3 2021, so it’s not surprising to see the tech firm looking for ways to expand their inventory.
Pinterest Hops on the Creator Bandwagon with ‘Pinterest TV’
Pinterest has signaled its intentions to transform from an inspiration destination to a purchasing powerhouse with “Pinterest TV,” a live shopping broadcast set to launch in its app on Nov. 8. The weekly episodes will focus on categories including food, home fashion, beauty, DIY and more. With these efforts, the company is hoping to attract a younger audience- they’ve already embraced short-form video with the creation of a Tik-Tok-esque “watch” tab on their app- and gain a larger share of the ecommerce space. For now, Pinterest is tapping creators to host its content, and offering a $20 million Creator Rewards platform to further help them with monetization. It remains to be seen if paid ads will become a part of their broadcast strategy, but advertisers should definitely keep a close eye on their evolving efforts.
TikTok Shares Holiday Shopping Insights
Is your brand thought through its Black Friday strategy? TikTok would like to be a part of it and has shared their platform’s strengths in their latest business report for advertisers. According to the company, 70 percent of TikTok users expect TikTok to inspire them to make a purchase during Black Friday this year and a whopping 80 percent of users who bought something on Black Friday last year said TikTok played a role. The product categories TikTokers are most likely to buy on the platform include gaming devices, personal care items and clothes. You can read their full report, which includes tips for successful campaigns, here.