Report#5: It’s All about the Algorithms!
Week: 12 Sep 2022 - 16 Sep 2022
In a nutshell,
Instagram Streamlines Platform Commerce Features
Twitter Adds Podcast Support & New Audio Options
Meta Provides Clarity in Video Content Analytics
Snap Outlines Goals for the Future After Staffing Shifts
Twitter Shares Insight into Football Conversations Ahead of Season Start
Let’s get social!
1. Instagram Streamlines Platform Commerce Features
This happened
Instagram has announced they’ll be scaling back some of their in- platform shopping features in order to streamline the experience for social media shoppers. It’s reported that the platform may eventually remove the ‘Shop’ tab from home feeds in favor of platform products that offer more direct advertising functionality. It’s rumored that some of the impacted features may include removal of messaging ‘bot’ services, the ‘Shop Explore’ page, and livestream commerce options.
The Lesson
While we saw shopping trends change dramatically during the pandemic, it seems that buyers are partially reverting to their pre- pandemic habits, focused more on in-person and traditional e- commerce platforms to drive purchase. We’ve seen social shopping take off in Western markets, fueled by platforms like WhatsApp so it’s safe to say that this consumer sentiment is growing slowly - but brands should be strategic in understanding how their product and audience are engaging.
2. Twitter Adds Podcast Support & New Audio Options
This happened
Twitter has announced that they’ll be officially integrating podcasts into the platform as part of their recently-designed Spaces tab. First available to English-speaking audiences globally, the platform will introduce personalized hubs, or ‘stations’, that aggregate audio content across media types relating to specific topics like news, music and sports. Users will see recommendations based on their unique interests, and can give the content a thumbs up or down to personalize their algorithm. Along with suggested content, users can also see top curated content and upcoming Spaces events planned.
The Lesson
Twitter has slowly been moving into the audio vertical as their Spaces feature has continued growing in adoption. As audio conversations are already happening on the platform, it’s natural for Twitter to offer alternative content types like podcasts for anyone who may have missed a live conversation event. As Twitter plans to position the platform as an “all-in-one audio destination”, we’re likely to see new advertising units introduced, as well as paid subscription tiers for creators.
3. Meta Provides Clarity into Video Content Algorithms
This happened
After recent high-profile conversations around Facebook and Instagram’s new focus on video content and Reels, Meta has released an overview to give creators more insight into how the algorithm supports the popular content type. With video content accounting for 50% of the time users spend on Facebook, Meta is pushing creators to prioritize video creation with best practices to help ‘capture and retain attention.’ Some direction includes creating original content, providing new information, and optimizing for mobile-first viewing.
The Lesson
With video content servicing many of Meta’s audience on both Instagram and Facebook, it’s clear that the company is focused on pushing more original video content to compete with creator-first platforms like TikTok. With this new report, Meta is clearly outlining that there’s plenty of opportunity for creators and brands to reach or monetize their audience, but that they should be mindful that viewing habits here may differ from competitive platforms.
4. Snap Outlines Goals for the Future After Staffing Shifts
This happened
After announcing department cuts across some of their experimental and Web3-focused teams, Snap CEO Evan Spiegel shared insight into how the company will focus on new goals to help grow their user base by 30% and increase revenue to $6 billion in 2023. Through a detailed plan distributed via internal memo, Spiegel outlines that revenue increases are expected from the paid subscription offering, and new users growth will rely on increasing penetration in new countries and demographics.
The Lesson
While some of these changes will impact Snap’s innovation-focused teams, Speigel was adamant that AR will remain a crucial growth area for the platform. Leveraging their best-in-class visualization, Snap aims to grow time spent on the platform, develop more AR-based advertising options, and ultimately grow the number of people interacting with AR capabilities regularly. This approach leans into Snap’s differentiating element, that could prove to bring in more audiences and people look to new, engaging ways to interact with brands and creators.
5. Twitter Shares Insight into Football Conversations Ahead of Season Start
This happened
As football gears up to return in full force, Twitter has released a report of insights to help creators and brands understand how the channel is utilized in real-time during the season. The platform released some staggering facts, including that one NFL season has the same Tweet volume of 19+ Super Bowls, with major growth being made in College Football conversations as well - growing up to 75% YoY. It was also mentioned that 45% of football tweets happen outside of gameday, with 73% of brand mentions happening outside of the games themselves.
The Lesson
Twitter is taking huge strides this year to ensure brands and advertisers have full clarity into audience behavior on the app, with incredibly detailed and insightful reports relevant to the cultural moments that make up the platform’s content. As more sports fans flock to the platform, we’ll continue to see new and larger conversations here - not only across sports like football, but within micro and macro communities across all interests.
That’s all for this week - See you again!
Source: Social & Connections - Grey New York, The Verge, Twitter, Social Media Today and TechCrunch