Alternative Social Opportunities: Reddit, Threads & Snap

This week - we're honing in on social media platforms outside the top 4. More niche platforms present unique opportunities, with fewer brands utilising them meaning that cut through is easier to achieve. Advertisers are beginning to recognise this and are including them more commonly in media plans for targeting, brand building and testing.?

Threads widens the gap with X

At the end of 2023, Threads had surpassed 130 million monthly users and it has now been confirmed that downloads are far exceeding X’s, with three times as many people installing the app each day. While we cannot equate the number of app downloads to usage, this gap seems to be increasing and brands must be alert to the potential market shift.

Threads have been adapting the app and introducing updates to win back the attention of users and appeal to wider audiences. Just recently, new highly demanded features have been added – users will now be able to save drafts and take pictures within the app.

In the long run, this shift might extend to affect the number of monthly active users as well. Should this scenario unfold, Threads could emerge as the preferred microblogging platform for the majority of users, surpassing X’s longstanding dominance in this field.

Although paid advertising is not yet available on Threads, Meta are sure to monetise this growing platform if its success continues. Until then, brands can utilise the developing community here by becoming active members themselves. Read more.

Warner Bros. teams with Snapchat for AR ‘Dune: Part Two’ Campaign?

This week, Warner Bros. and Snapchat have teamed up to appeal to young consumers ahead of the release of Dune: Part Two. ?

According to the NRG, Snapchat users are 1.7 times more likely to see a movie on opening weekend than non-Snapchat users, which makes this Snapchat the perfect channel to partner with. The platform has also now reached 414 million daily active users and reaches over 90% of 13–24-year-olds.?

The Dune partnership shows that advertisers are increasingly?recognising this power, which was also signalled by a 5% YoY increase Q4 earnings for the company. As larger brands prove the effectiveness of digital advertising beyond Meta, we may see others follow to invest in the platform, especially when targeting younger consumers. Read more.

Reddit and Google strike $60m annual data-sharing deal?

Reddit has struck a deal with Google granting the tech giant exclusive access to its data for use in Search and Generative AI projects, reportedly valued at $60 million per year. This partnership will enable Reddit to leverage Google's Vertex AI for enhancing search and other capabilities on its platform.

Google's VP Rajan Patel stated that the collaboration aims to make Reddit content more accessible across Google products and facilitate easier participation in Reddit communities. The number of times Reddit shows up in Google search results has doubled since the deal became public.?

As platforms like Reddit continue to enhance their offering, advertisers will increasingly include them in media strategy. Wake The Bear has recently utilised Reddit for our client, Marshmallow, by targeting key Subreddits, relevant to their product offering. This enables us to reach the niche migrant audience that Marshmallow serves, without significant wastage.?Read more.

Pinterest invites advertisers to its platform with new campaign

Pinterest has launched a new international campaign, titled “The P is for Performance”. The Brand utilised mini-movies to showcase how ads on Pinterest can drive results, especially targeting the Gen-Z audience that tends to favour the platform.?

Pinterest’s focus on performance advertising is emphasised, with the campaign highlighting products aimed at boosting conversion rates and increasing traffic for advertisers. These include mobile deep links, direct links, the Pinterest API for Conversions, and shopping ads. ?

By the end of 2023, the proportion of Pinterest’s revenue generated from advertisers utilising a minimum of three of their performance tools rose from 2% to 23%. The clear play to drive this revenue stream further positions Pinterest as a platform for performance marketing, and not only raising brand awareness. ?

This has clear benefits to?the revenue of the platform, with performance marketing often reflexively being relied on by brands over brand building. Appealing to the lower funnel of marketing campaigns, as well as upper, will see more brands adding Pinterest to their media mix, especially those trading in fashion, decor and health industries. Read more.

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