S.M.I.L.E. in February 2021
Welcome to the newest addition of Social Media Innovation List Email! Here are some resources to keep you up-to-date on the latest in Social:
Here’s a look at what each social platform is doing to support Black History Month and highlight content by black creators. Highly encourage you to check these out!
eMarketer recently released a new report discussing the US retail social commerce market, which platforms are most effective at driving social commerce, and which brands should consider investing in the social commerce environment. The report also includes a forward looking forecast at estimated social commerce growth, and states that by 2023 more than 101 Million Americans will have completed a purchase via a social channel. Read on for tips on social commerce strategy and for a better understanding of the opportunities this presents for marketers.
Shopify recently announced an expansion of Shop Pay that allows merchants selling on Facebook and Instagram to enable in-app payments and order fulfillment. With this integration, consumers will see Shop Pay as a payment option in Facebook Pay, which pre-populates their information and facilitates fast, secure commerce.
Speaking of eCommerce, TikTok recently highlighted some new eCommerce options coming to their app, which lets creators share links to products and earn commissions on sales, brands showcase catalogs of products, and facilitates “livestream” shopping where users can buy goods immediately after seeing them showcased by TikTok stars.
eMarketer’s Behind the Numbers podcast recently discussed Snapchat’s healthy Q4 performance. The big takeaway is that the platform’s revenue intake blew predictions out of the water, potentially due to their positioning as a more brand safe platform, but also an increase in user engagement around AR kept users engaged (an area Snapchat excels in.) They also discuss competition from TikTok, and how over 90% of the US Gen Z population are still active Snapchatters. And finally, what alternative platforms are likely to compete for attention in the future.
Rumor has it Twitter is looking for new ways to maximize revenue opportunities, as Bloomberg reported recently (via Social Media Today) that Twitter is considering letting users “tip” people in exchange for receiving exclusive content, in addition to charging for services like Tweetdeck (as social media management dashboard many marketers user to oversee posting across multiple twitter accounts.) This article speculates on what the future of Twitter might look like as a result.
According to Pinterest, they will use this event to “share a different vision for the future. A more inspired internet. Where the best of offline shopping comes online. Where conversions matter more than likes. A place that’s positive – for people and your bottom line.” You can register to attend here!
Pattern89’s AI-driven predictions report highlights what colors, copy, videos and imagery are going to lead to creative success this year. Here you’ll find ideas on the top performing creative for videos and Stories, based on billions of data points analyzed across Facebook and Instagram.
SocialInsider recently conducted a social media industry benchmark study in which they compared over 22 million brand posts on Instagram, Facebook and Twitter across 35 different industries. The analysis discussed the trending platforms of the moment, which industries are seeing the most engagement, and more.
TikTok’s new report details what topics have become important to users, and provides insight into what trends are likely to arise in 2021. Many different countries are covered in the report, but for a shortcut to the US insights, you can click here. One trending category discussed is cooking/food interest, which is interesting timing given TikTok also recently announced they are adding new recipe integrations. This could provide interesting opportunities for CPG advertisers, long term.
NetBase Quid discussed in this recent report why Instagram is such a crucial channel for marketers, and how you can take advantage of the platform to its full potential. Also covered in detail is Instagram’s rise as an ecommerce contender, and how they might compete with Amazon in the future. By harnessing data available to better understand how consumers are interacting with Instagram content, marketers can get a deeper understanding for how to drive maximum impact for your efforts on this platform.
Obviously a fan of a good meme, I found this interview eMarketer recently conducted with Candice Beck, senior manager of social and digital at Chipotle, to be very interesting. They use memes in day-to-day content, paid campaigns, and as a way to unlock new insights around social listening.