31/07/2023
Marketing Weekly Roundup - Week of July 30, 2023
Welcome back to another exciting edition of Marketing News Round Brought to you By NetGeekz.com! This week has been filled with major announcements and thrilling updates across various social media platforms. From rebrands and new features to AI advancements and shocking company revelations, we've got you covered on all the latest happenings in the world of marketing and technology. So, let's dive right in!
Top 5 Updates of the Week
1. Twitter Unveils "X": In a surprising move, Twitter has rebranded itself as "X," marking a bold new chapter for the social media giant. Along with the rebranding, they have also renamed their main features, including the iconic "tweets." What other changes does "X" have in store? Stay tuned for more details.
2. TikTok Introduces "Text Posting": Stepping up its game to compete with Instagram Stories and Twitter, TikTok has launched the "Text Posting" feature, allowing users to share written updates in addition to videos. The battle for social media supremacy just got even more exciting!
3. Meta's Revenue Skyrockets: In its latest earnings report, Meta (formerly known as Facebook) announced an impressive 12% increase in revenue. The company seems to be flourishing despite recent controversies, proving its resilience in the ever-changing digital landscape.
4. YouTube's CTV Ads Boost Revenue: YouTube's ad revenue experienced a 4% year-over-year growth, reaching a staggering $7.6 billion. The main factor behind this surge was the successful implementation of CTV (Connected TV) ads. Online streaming is undoubtedly shaping the future of advertising.
5. TV Ad Market in Recession: In stark contrast to YouTube's success, the TV ad market is facing its worst state ever, plummeting into a recession. Advertisers are grappling with the shifting media landscape, leading to uncertain times for traditional television advertising.
TikTok: Chinese E-commerce & Lawsuit Drama
TikTok is making headlines with its latest endeavors. The platform plans to launch an e-commerce program that will bring Chinese products to the US market, providing users with more shopping opportunities. However, not everything is smooth sailing for TikTok, as Activision Blizzard files a lawsuit over the misuse of a trending sound on the platform. Legal battles and commerce expansions are keeping TikTok in the spotlight.
Instagram & Threads: New Features & User Retention Strategies
Instagram's companion app, Threads, is about to get even more engaging with direct messaging support coming soon. However, it seems Threads has been struggling with user retention. In response, Mark Zuckerberg and Meta's CPO revealed upcoming features aimed at hooking users and enhancing the app's appeal. The addition of a chronological feed, post translations, a new quick follow button, and an approve follows feature are all part of the plan to keep users engaged.
Meta: New Research & WhatsApp's Video Messages
In the world of Meta (previously Facebook), there's exciting research suggesting that the platform's algorithm doesn't actually drive polarization, debunking some long-held beliefs. Meanwhile, WhatsApp has launched instant video messages, providing users with a more dynamic way to communicate. Moreover, Meta celebrates crossing a milestone of 3 billion monthly active users. But amidst all the triumphs, rumors of Meta Pixel's potential discontinuation have been causing a stir among advertisers on TikTok.
Twitter: Discounted Ad Prices & New Profile List
With its rebrand as "X," Twitter is shaking up the advertising landscape. Advertisers are now capitalizing on the opportunity to run ads for mere pennies due to the discounted ad prices. Additionally, Twitter is expanding its creator ad revenue share program, allowing more eligible users to benefit. And that's not all! Twitter is testing a new profile list exclusively for paid subscribers of an account, and they are working on hiding buttons and features on users' screens while scrolling, creating a more streamlined experience.
The familiar "Send" button is also getting replaced with the simpler term "Post." Plus, there's news of new hiring in the engineering department at Twitter, indicating more exciting developments on the horizon.
YouTube: Enhanced Media Quality & Studio Settings
YouTube is continuously improving its platform to enhance user experience and meet advertisers' demands. Double Verify expands media quality authentication to YouTube Shorts, providing a safer advertising environment. Additionally, YouTube Studio settings are getting updates to better cater to creators' needs.
Google: Ad Revenue Boost & Fight Against AI-generated Reviews
Google's search ad revenue has experienced a 3.3% increase, and Bing's ad revenue is up by an impressive 8%. Meanwhile, Google Merchant Center adds a new customer support feature to assist businesses effectively. On the AI front, Google takes a stand against AI-generated business reviews, aiming to preserve authentic customer feedback. Additionally, Google is experimenting with new search interface features, including product SERP layouts.
Reddit: Verification and Hiring Efforts
Reddit is testing a new verification mark and introducing accessibility features to enhance user experience. Additionally, the platform is ramping up hiring efforts for its advertising business, despite facing a drop in ad revenue after recent protests.
Microsoft: Bing AI Chat Expansion and Dark Mode
Microsoft is expanding the reach of its Bing AI chat to Google Chrome and Safari, increasing accessibility for users. Moreover, Microsoft Ads pilots a new UET insights dashboard, providing valuable traffic data to advertisers. To add a touch of aesthetics, Bing Chat, and Search are getting a dark mode, much to users' delight. The tech giant boasts an impressive milestone of over 1 billion Bing AI chat sessions, showcasing the popularity of its AI-powered chat service.
Pinterest: Volvo's Campaign and "Pinterest Present" Event
Volvo harnesses the power of Pinterest's denim trend to promote its latest campaign, combining fashion and automobiles in a creative way. Additionally, Pinterest announces "Pinterest Present," an exciting new event tailored for advertisers and agency owners, presenting opportunities for strategic collaborations.
Snapchat: User Growth and Special Automated Stories
Snapchat's user base reaches a staggering 397 million, attracting more advertisers to invest in the platform. However, ad revenue falls short of predictions, highlighting the challenges of monetizing the platform effectively. In celebration of International Friendship Day, Snapchat launches special automated stories, adding a personal touch to the occasion.
LinkedIn: AI Coach and Record Engagement
LinkedIn is testing an AI-powered "LinkedIn Coach" to assist users with job finding and app usage, providing personalized guidance. Additionally, the platform celebrates record user engagement and a revenue increase in the last quarter, solidifying its position as a leading professional networking platform.
Marketing (Media Updates): Netflix-Microsoft Deal, Pubmatic's Convert, and Twitch's Growing Watch Time
Netflix restructures its deal with Microsoft, resulting in lowered ad bidding prices to fuel further growth. Pubmatic launches "Convert," a new unified platform designed for commerce media, offering advertisers more seamless options. Vice Media's bankruptcy makes waves, and Intuit debuts a small business-focused media network to cater to this vital market segment. Meanwhile, Twitch's daily watch time sees an upward trend, indicating the platform's continued popularity.
That's it for this week's Marketing Roundup! Stay tuned for more exciting updates and developments as the tech and marketing worlds continue to evolve. Brought to you by NetGeekz.com. Until next time, keep on sharing, liking, and exploring the ever-changing landscape of social media and beyond!