Welcome to the newest edition of Social Media Innovation List Email! Here are some resources to keep you up-to-date on the latest in Social:
Half of Business Executives Expect Social Marketing Budgets to Double in Next 3 Years
According to new research conducted by The Harris Poll, 91% of executives forecast some sort of increase to social budgets, while nearly half (46%) expect they will increase up to 100% in the next three years. Even more interestingly, only 44% of those surveyed feel “very confident” in their current social strategy. This recap of The Harris Poll findings also covers off on what social behaviors and audience insights are likely driving this trend.
Amazon’s Share of the US Ad Market Surpassed 10%
In 2020, the pandemic fueled online spending and e-commerce growth, benefitting Amazon and their advertising sales in a big way. This makes them the #3 ad publisher in the US behind Google and Facebook. In this report, eMarketer discusses the role Amazon plays in search today, and how the three platforms are likely to compete on the e-commerce front in the future. Separately, eMarketer released a related report this month detailing the resilience in search advertising in 2020 due to e-commerce ad spend, and what other retailers (like Walmart) are competing for search ad revenues.
Social Media Use in 2021
According to this report by Pew Research, a majority of Americans use YouTube and Facebook, while Instagram, Snapchat and TikTok is especially common among adults under 30. General social media usage has remained relatively steady at 7 in 10 adults using these platforms. .
Microsoft Launches Feed-based Audio Ads for Automotive
Similar to Facebook’s Automotive Inventory Ads, or Google’s Dynamic Remarketing Ads, Microsoft’s new ad unit is designed to reach car shoppers who might be close to making a purchase. The feed-based ads let you upload all of the attributes of inventory, and showcase different vehicles right on the SERP with a more automated ad unit. Steps to get started are included in this link, or of course Centro’s search team is happy to assist with next steps for any advertiser.
What Short Form Video Marketers Need to Know about UGC
eMarketer recently shared some very helpful tips marketers should consider when making UGC central to their short-form video strategy on platforms like TikTok, Snapchat or Instagram. For a case study example that brings some of these recommendations to life, I’d recommend a quick read through this AdWeek article detailing how Avon made TikTok a central part of their “digital transformation” strategy. You can also check out these tips Instagram recently shared to help brands understand how to use UGC.
Facebook Report: The Value of Performance Branding
This recent Facebook IQ Report discussing how advertisers are driving direct response outcomes while simultaneously building strong, memorable brands. In a study conducted in partnership with 34 different brands, they found there is a strong brand halo effect driven by performance media on the platform. The importance of creative in driving positive lift in sales and brand is also discussed here.
TikTok Launches New Video Creation Tools for Advertisers
Their new online smart editor gives advertisers access to TikTok-style editing features meant to make it easy to capture and produce native-feeling content integrated with the platform’s stylistic fonts, colors, music and more. It’s a great step toward making the platform more accessible for advertisers, who continue to be attracted to TikTok: especially as they remained the #1 most downloaded app in Q1 2021. For a sneak peak at some other new advertising features coming to the platform this year, you can also check out this recap from Social Media Today.
Google Launches Video Ad Experiments
Over the next several weeks, Google is releasing new tools to allow advertisers to better understand the value video creative has on brand lift or conversions results on YouTube. In studies run between 2019 and 2020, Google found that advertisers who used video experiments to optimize for lower funnel performance on YouTube saw 30% lower CPA’s on average, and those who used it to optimize for upper funnel impact saw 60% higher ad recall from the better performing creative.
Reddit “Ads Formula” Education for Advertisers
The platform recently launched a new advertiser resource hub with a range of guides, tips, case studies, and training materials. Also included are a range of stats on Reddit users/usage, and a monthly calendar to help advertisers plan how to engage around specific trending events. It’s easy to register for access to these free tools by clicking here!.
eMarketer Q1 2021 Social Media Update Report
This quarter’s report shows how time spent on social networks has changed post-pandemic, talks about the latest feature releases from each platform, and other important developments for Facebook, Instagram, Twitter and Snapchat. It’s a great recap of some of the more important happenings since the beginning of the year.