SOCIAL MEDIA ADVERTISING
TikTok | June 21, 2022
At a talk on Monday in Cannes, Blake Changless, TikTok’s president of global business solutions, said that hundreds of thousands of small and medium-sized businesses buy ads on the platform. “We want millions,” he added.
Every platform wants millions of advertisers, especially since Meta, which owns Facebook and Instagram, boasts of more than 10 million advertisers.
At Cannes, TikTok executives opened the first day of the advertising festival at the festival headquarters in a discrete event space across from the Palais, the main center of action for the conference. They discussed the tools that the platform is putting in place, such as live shopping, building brand safety and technology amidst challenges, and the impact of Apple’s privacy rules on the whole ad ecosystem and the creator economy. On a lighter note, Ray Cao, TikTok’s managing director and global head of monetization product, strategy and operation, touched upon the challenges of losing his luggage upon arriving in Nice, France.
They discussed content and its importance in contextual targeting. “A lot of people are thinking about contextual targeting, especially for an in-feed environment like TikTok,” Cao said.
“A lot of people are thinking about contextual targeting, especially for an in-feed environment like TikTok,” Cao said.
Safety considerations also came up where Chandlee discussed how TikTok is developing ad products to keep brands comfortable with their service. The company also made an announcement on third-party tools that measure suitability and provide a few ad controls through companies like OpenSlate, Zefr and Integral Ad Science. “When we review content it’s not just the images,” said Francis Stones,TikTok’s head of Europeanbrand safety. “It’s the sounds. It’s the text. It’s emojis, comments.”
About Apple’s policy, Chandlee said, “The iOS 14 changes that were made last year had a huge impact on the industry, Chandlee said. “The industry built on data and knowledge and optimization against that data.” He added, “The industry had to come back a little bit to contextual,” Chandlee said, which we think is a very, very powerful way to approach and advertise and communicate with audiences.”
On the platform’s impact on live shopping, Sofia Hernandez, global head of business marketing for TikTok said, “We caused a national feta cheese shortage,” Hernandez said, referring tothe baked feta pasta trendon TikTok. “Those of us who have been marketers for years know that you don’t shoot food that way, it’s always highly styled,” she added.
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SOCIAL MEDIA ADVERTISING
Snapchat | June 06, 2022
Snapchat has launched its Dynamic Travel Ads product to help brands create different ads according to their products and services.
The social media platform says it will serve the most relevant ads to "Snapchatters" interested in travel, whom it claims are 37% more likely to book travel after seeing an advertisement.
Snapchat says the ads have a number of unique benefits for travel advertisers including targeting according to a Snapchatter's interest in travel and locally relevant campaign delivery using the company's visitation data.
The company says Etihad reduced the cost per flight search fourfold using the dynamic ads product and achieved "a 307% increase in ROAS (return on advertising spend) as well as a 76% decrease in cost per purchase compared to their non-dynamic campaigns."
Phil Dodwell, marketing media lead for Etihad, says the airline was able to "maximize relevance by matching customers to specific destinations, dramatically improving performance metrics across the booking funnel in the process."
Phil Dodwell, marketing media lead for Etihad, says the airline was able to "maximize relevance by matching customers to specific destinations, dramatically improving performance metrics across the booking funnel in the process."
He adds: "The prospecting solution in particular is currently the best-in-class catalog solution for dynamic travel ads on social, and we are extremely pleased with the results we have been able to achieve. We look forward to building on this approach in Q2 and beyond.”
Meanwhile, Booking.com also reduced its advertising costs by using images from its product catalog to present locally relevant listings to the audience based on previously viewed products.
Sharon Silverstein, head of U.S. verticals at Snap Inc, says, "Snapchatters are a particularly salient audience for the industry, with many eager and more likely to travel than users of other platforms."
The company says 76% of Snapchatters are making plans or have already returned pre-pandemic travel behavior.
It adds that the platform has more than 600 million monthly active users and 332 million daily active users.
Many travel brands are experimenting with social platforms with their millions of users as a way to extend reach and boost engagement beyond more traditional marketing channels.
In addition, a number of travel brands have made their own media moves recently with Marriott, for example, launching a media network in partnership with Yahoo that enables other advertisers to target its audience.
Initially, brands will be able to target Marriott customers via the hotel company's website and mobile application expanding to in-room television screens and its Bonvoy loyalty program later.
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SOCIAL MEDIA ADVERTISING
Facebook, Meta | June 02, 2022
On June 1, Sheryl Sandberg’s journey with Facebook (now Meta) came to an end. The longtime second-in-command at Meta stepped down as the chief operating officer. She leaves behind a complicated legacy. Javier Olivan, Meta’s chief growth officer, will now fill in her big shoes.
Sandberg made a post on Facebook to make her resignation official.
“When I took this job in 2008, I hoped I would be in this role for five years,” Sandberg wrote. “Fourteen years later, it is time for me to write the next chapter of my life. I am not entirely sure what the future will bring—I have learned no one ever is.”
“When I took this job in 2008, I hoped I would be in this role for five years,” Sandberg wrote. “Fourteen years later, it is time for me to write the next chapter of my life. I am not entirely sure what the future will bring—I have learned no one ever is.”
Since Sandberg joined Meta, it transformed from an almost no ad revenue platform to an advertising giant. In 2021, Meta brought in a whopping $115 billion in revenue through advertising. In addition, it has a portfolio of apps that reach 3.6 billion people in a month.
Sandberg joined when the company was still just Facebook but brought in Instagram in 2012 and went public. It now owns Messenger and WhatsApp.
Sandberg will remain on the Board of Directors, Mark Zuckerberg said in a Facebook post on Wednesday. "You've architected our ads business, hired great people, forged our management culture, and taught me how to run a company," he added.
Talking about Javier Olivan, Zuckerberg said, “Javi will become our next Chief Operating Officer since he will now lead our integrated ads and business products in addition to continuing to lead our infrastructure, integrity, analytics, marketing, corporate development and growth teams. But this role will be different from what Sheryl has done. It will be a more traditional COO role where Javi will be focused internally and operationally, building on his strong track record of making our execution more efficient and rigorous.”
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