Wednesday Morning, Issue 27 (8/7/24)

Reddit's daily active unique users have grown 51% YoY, your brand may be sleeping on Snapchat and 1.5 million pieces of content are shared on LinkedIn per minute.

Meta removes detailed targeting exclusions, citing that a worldwide test showed brands had a 22% higher conversion rate when these exclusions were removed. This is just another move in the direction of ‘just let us do it for you, we know best,’ a POV we see represented in many recent ad platform shifts.

Instagram is still winning — as the top channel for both brand awareness and conversion campaigns among CMOs polled for Digiday’s new CMO Strategies Report. Report excerpt: “Marketers said Instagram is the best social platform for branding and for driving conversions. Instagram is particularly effective for growing organic brand reach, with more tools for engagement and a focus on images and videos which can inspire comments, likes and shares. Likewise, engaged users are more apt to convert on Instagram.”

Reddit’s number of daily active unique users have grown 51% year-over year, according to the company’s 2nd quarter earnings report: the platform saw an average of 91.2 million “daily active uniques” in the second quarter of 2024, an all-time high.

Feel overwhelmed by your personal LinkedIn echo chamber? Brace yourself: LinkedIn shared in its Q2 earnings report that 1.5 million pieces of content are shared every minute on the platform and video is now the fastest growing format on LinkedIn, with uploads up 34% year-over-year.?Additionally, LinkedIn has added a new verification badge for brand pages, so put this on your ask list for your rep.

Two nudges that many brands are sleeping on a very active, invested audience on Snapchat:

Snapchat now has 11 million paid subscribers. For context, here’s how this stacks up to paying subscribers across other social channels (source: SocialMediaToday.com).

Snapchatters have a stronger shopping mindset than non-Snapchatters, according to a recent report from National Research Group.

Pinterest is testing a new program that allows news outlets and publishers to sell ads on its platform using an auction system, with revenue sharing for publishers.

Threads reaches 200 million monthly active users, put in context that’s 40% of X’s audience. This is on our radar because Threads ads are on our radar.

?? RESOURCES:

A new 2024 Quarterly Digital Advertising Campaign Performance Trends Report from Skai gives lots of great intel into larger media buying shifts and performance benchmarks across channels. Here’s a snapshot I found particularly helpful, but recommend you view the full report here.

Related to the headline about video uploads being up 24% YoY on LinkedIn, here’s a great infographic on how to make your LinkedIn video content stand out (via Lindsey Gamble).

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