Meta plans to expand its Reels monetization program in the coming months, and increase the number of users with access to Reels ads. Currently, the program is invite-only and selected creators are able to display Reels overlay promotions. Meta is not yet ready to release full details, but it is encouraging users to switch on Professional Mode to access the upcoming features. Recent data from Meta has shown that while Reels engagement has increased, the creation of original content has declined, which reduces overall time spent creating content in platform. The expanded Reels monetization push and additional tools for creators to build online communities may help address this issue.
There is an opportunity for brands to partner with eligible creators and sponsor their Reels content. By doing so, they can reach a larger audience and potentially increase their brand awareness, engagement, and customers’ purchase intent. should also keep an eye on the expansion of the program to new countries and monitor changes to the eligibility criteria. If there is an increase in original content created for Reels as expected by Meta we should see an increase of in-platform traffic at the same time. AdParlor offers current and new clients the opportunity to work with highly engaging influencers. Reach out to your current Account Manager or contact us here for more information.
Instagram has announced a new feature, available now, that allows users to add up to five links to their Instagram profile bios. This will allow followers to be directed to other content such as online businesses, brands, causes and profiles on competing social platforms. This new feature is in response to creator demand for increased access to links-in-bio and is a challenge to other solution providers like Linktree and Beacons. The feature will be available to all accounts, including business and creator accounts. Links added to Instagram profiles will open inside the Instagram app and will need to be opened in a separate browser window if users want to move to their built-in browser.
This feature presents an opportunity to optimize brands’ Instagram profiles by adding links that lead directly to their website or other social media accounts. This can improve their Brand’s online presence and engagement by making it easier for consumers to navigate their content. There’s also potential value in using these links to measure last click attribution. AdParlor encourages brands to take advantage of this feature and update their Instagram profiles accordingly.
Brands concerned about the economy and cost-cutting are moving their ad spend to more attribution-friendly marketing channels, and Pinterest has taken notice. Pinterest’s function as a source of product discovery makes it difficult for brands to attribute sales to the platform, as many sales happen elsewhere. Pinterest launched an API for Conversions last year and a dedicated sales team in 2019 to help with attribution. The company is now beta testing a tool called Pinterest Premiere Spotlight that guides consumers to a purchase decision, and beefing up its attribution models to better support itself as accountable for purchases made by its advertising audience.
With these new attribution tools, advertisers may be better equipped to understand the ROI of Pinterest advertising, leading to better-informed, data-driven strategies on the platform. Brands should take advantage of these tools by reviewing their current attribution model and examining its benefits. After implementing the needed attribution changes into the ad campaigns, brands can better understand their customers’ behavior and make strategy tweaks to improve their ad performance, and even their paid media channel mix.
Snapchat+ now has 3 million subscribers, with CEO Evan Spiegel saying the company’s “medium-term” goal is to reach 10 million subscribers. In just six weeks, the Snapchat+ gained 1 million subscribers after launching in June 2022, but growth slowed until the release of MyAI, Snap’s generative AI chatbot, which was released to Snapchat+ subscribers on February 27. At Snap’s partner summit, the company announced that MyAI will soon be available to all Snapchat users for free. My AI will be able to answer questions, solve problems, make suggestions, and even
converse with users. Despite increasing competition, Snap has been able to consistently increase daily active user growth by 17% YoY. In addition, the company has announced agreements with HBO, Sony Pictures, NBCUniversal, and others to create exclusive content for the platform.
While there may have been a short term decrease in the growth of SC in early 2023, we should continue to see new ways to monetize as more consumers start to use the AI features publicly available. With the further shift to pushing paid exclusive content there should be more opportunities than ever to leverage Snap going forward. We expect to see new and existing users alike find novel ways to engage with the platform through these updates.
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