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Report: Social Media Update Q3 2020
This latest installment from eMarketer in their quarterly social media update series addresses the latest and greatest predictions for user behavior, updated user statistics, the latest ad revenue information, top trends for TikTok and other platforms, and new product releases. Key takeaways include: ecommerce as a continued bright spot since the pandemic began--leading to improved shopping tools across social networks, continued focus on providing accurate information and news to social users, and a brief discussion on each platform’s approach to the upcoming election.
Listen: Where Americans Socially Network (32:16)
In this eMarketer podcast “Behind the Numbers”, analysts Peter Newman and Blake Droesch discuss how the pandemic affected social network usage across all major platforms. They also briefly discuss some of the predictions from the Q3 updates report, and whether the new feature releases that have recently come out will be likely to sway usage across the different platforms in the near-term.
Report: Facebook Ranked #1 in AppsFlyer Performance Marketing Index
This report ranks various sources on their ability to retain, monetize, and retarget users on mobile devices. Facebook’s top spot indicates they are able to drive app installs through high-quality users. These rankings include scoring on in-app purchases as well as their ability to produce monetizable ads. In this recap of the report, Business Insider predicts Facebook’s US share of the mobile ad market will grow to 34.4% by 2022, while Google’s will fall to 25.7% as Amazon also gets in the mobile search market.
Reddit’s Role in the Path to Purchase
Reddit partnered with Vetro Analytics to release this report detailing how their users participate in the purchase journey, compared to on Facebook, Instagram, Twitter, Snapchat and Pinterest. TL;DR: Reddit purchase journeys tend to be faster, result in deeper research, generate 15% more spend, and create higher NPS ratings. Unlike on other platforms, Reddit users skip more quickly to the consideration stage and spend more time there seeking product and brand information. As a result, they feel confident about their purchases and tend to have positive experiences with brands once the purchase has been made.
Announcing Instagram Reels Updates
The latest round of Reels updates lets users create videos up to 30 seconds in length, adds new abilities to insert audio, and includes updates to native editing tools—all in an effort to continue to compete with TikTok’s native content formats. In a separate article, eMarketer also covered the platform’s future plans to integrate new e-commerce and shopping features in Reels later this year, showing how important they feel the content format will be to the future of their app. TikTok’s platform continues to evolve just as quickly, however: for example they recently improved the Duets feature to make it easier for content creators to collaborate and build off of each other’s posts. Additional coverage on the latest Instagram updates can also be found here.
Facebook Report: New Insights on Groups Usage
As this article recaps, the platform recently conducted a survey of 15,000 people who are members of online communities in order to understand how they are using groups since the pandemic. They also shared new statistics showing groups have become a more important tool used to help communities thrive online, as people look to engage around their interests, learn new things, be entertained and make new connections virtually. To help brands tap into these highly engaged audiences, Facebook has also expanded their Collab Manager tool to allow marketers to connect with group owners and collaborate on ways to promote their products and services to group members.
If you’re interested in learning more about how to maximize IGTV content, this is the article for you. Social Media Today breaks down how to create content for the channel, best practices including optimal dimensions, and a variety of tools that make it easy to create social video content—not just for IGTV, but for any format.
LinkedIn Redesign Features Stories
As another platform seeing a surge in usage due to the pandemic, LinkedIn is investing in making it easier for people to navigate working from home, finding connections and sharing the skills and content professionals want access to. While their new design features lots of softer elements such as updated color schemes and more streamlined search functionality, it also includes a full rollout of Stories to all users in the US and Canada. Heads up: Stories Ads should be coming by January, 2021!
Pinterest Announces New Pin Format: Stories
The platform has finally widely released their Story Pin format, giving creators the ability to use videos, images, voiceover and text overlay to design more interactive pin formats. Unlike on other platforms, these pins are found in the standard home feed as opposed to in a separate area, and they do not disappear after 24 hours. Also out now is a new Analytics dashboard that helps Pinners understand how their paid and organic content is performing over time. And finally, Pinterest recently released new shopping tools for Pinners and Advertisers: including ads in visual search results and deeper integrations with product catalogs.
Getting to Know the Snapchat Generation
In a recently released guide, Snapchat shares updated statistics on their user base, their behaviors, and how they engage via the platform. Did you know, for example, that 82% of Snapchatters believe they have a personal responsibility to create the change they want to see in the world? Or that they are 34% more likely than non-Snapchatters to buy from brands that support their local community? Read on for more information on this incredibly leaned-in user base. The timing for this report is perfect, as this quarter Piper Sandler research showed the Snapchat is still the #1 favorite social media platform for US teens, with TikTok following closely behind in the #2 spot.
In addition, here are a few other updated audience behavior reports that have been released in the last month:
And finally: like last month, I also wanted to send through some vertical specific resources that have been released recently via our social partners:
Snapchat + Sports Behavior Insights
And finally, just for fun: check out this heartwarming story of Ocean Spray responding to the originator of the TikTok “Dreams” challenge, in which participants sip cranberry juice as they skateboard to Fleetwood Mac.