Social in Short: May 2020
Platforms have continued to make updates that benefit their creators, advertisers and users.
Get the highlights below, and visit the Nomadic Agency blog for more updates and our take on the biggest changes.
Facebook acquires GIPHY
Facebook has acquired GIPHY, the internet's preferred choice for GIFs. in an effort to fold the platform into Instagram. GIPHY partners include Snapchat, Twitter, Slack, Skype and Telegram.
Our take: On the surface, this acquisition makes a lot of sense - 50% of GIPHY's traffic comes from the Facebook portfolio. But when you take a look under the hood, it could be a data goldmine for Facebook. GIPHY's partners are some of Facebook's biggest competitors, and by owning the data pipeline on GIF usage and users, they could conceivably increase their ad targeting database. Plus, by owning such a large GIF provider, they will have access to GIF libraries from HBO, ABC, and the NBA. Remember - just because the GIF is available, does NOT mean you have the legal right to use it. All parties (think actors, networks, rights holders) need to approve use before a brand can utilize a GIF on their own social channels.
TikTok tests creator call-to-action buttons
TikTok is testing a revenue-sharing model for creators to feature call-to-action buttons on their videos. While 'shop now' has been available for advertisers, this will be a first-of-its-kind for creators on the platform.
Our take: TikTok continues to take steps in the right direction for gaining advertisers and creators. The Creator Marketplace allows brands to research creators for partnerships, and with an additional call-to-action for the creators themselves, branded partnerships become more appealing for all involved. We continue to watch for opportunities for brands to get involved with TikTok, from an advertising and influencer marketing standpoint. Just remember that there are still data privacy issues with the platform, so we recommend airing on the side of caution when it comes to using TikTok as a channel for advertising,
LinkedIn adds poll feature
LinkedIn recently launched a native poll function to help users and companies gather additional insights and increase engagement on the platform.
Our take: As users continue to search for jobs, LinkedIn's reach continues to soar. Any opportunity to drive additional engagement in this marketplace is beneficial. We recommend using it to gain audience insights on new products or events, or using the data collected for a blog post of the same nature.
Twitter allows users to limit replies
As discussed at January's CES, Twitter has begun to roll out the option to limit replies to tweets. Users can select whether the tweet can be replied to globally, by followers, or by those mentioned in the tweet.
Our take: Similar to Instagram allowing verified accounts to turn off comments, this feature can help balance brand safety on the platform. For example, when a brand shares a piece of news, Twitter trolls could previously hack the comments, diverting questions from the initial announcement. By removing the ability to reply (as Twitter has cheekily done) or limiting replies to followers, brands can better monitor for real-time engagement opportunities. We also see an opportunity for clean Twitter chats, allowing only the tagged user to reply.
Snapchat adds new ad units
Snapchat introduced a new ad unit, 'First Commercial,' for its Snap Originals videos, along with a vertical video conversion tool.
Our take: While Snapchat has taken a backseat in the media to TikTok, they're slowing increasing their offering for advertisers. There are more than 60 Snap Originals series, reaching millions of users each month. The variety of targeting options are promising for brands looking to reach the older Gen Z audience.