đź“° Growth Daily - Friday, Feb 17

Firday's news, tips, & tools you need to know

February 17, 2023

đź‘» Snapchat Hits 750m Monthly Active Users

đź“° TL;DR - At yesterday’s Snapchat Investor Day the company announced they just recently hit 750 million monthly active users, up 25% from April last year. That’s a huge jump!

đź’ˇ Insight - The interesting thing to note from this Investor Day is the fact that Snapchat now has 750m monthly active users and 350m daily active users meaning about 50% of their total users check it every day. How does that stack up against other social platforms? About 67% of monthly active Facebook users user it every day so Snap doesn’t have as much of a habit built like Facebook does. But that means perhaps we should be a bit more patient with our Snapchat ads ROI? Regardless, Snapchat remains a wildcard marketing opportunity for most brands but it’s good to know they are still growing amid all the negative press.

🎓 An Easy Way To Learn Pinterest

đź“° TL;DR - If you have never ever run a Pinterest ad before, lucky for you Pinterest just introduce the “Pinterest Academy” an e-learning platform to help advertisers learn the ins and out of the ad platform. It’s totally free and if you complete all of the training you get a nifty “Pinterest Advertising Essentials Badge” to show potential clients.

đź’ˇ Insight - We wish more ad platforms did this! YouTube is not always the best place since the videos can be old or strategies can change at any point. If any decent percent of your target audience is women you should absolutely be investing in Pinterest ads! Maybe calendar block some time to check out the Academy next week and get an ad live?

đź’Ą Tik Tok Punches Back

đź“° TL;DR - We have been keeping you all up to date on the fight for content creators between YouTube, Instagram, and Tik Tok. As if Tik Tok didn’t have enough on its hands with the US Government threatening to ban them, new reports show user growth (& subsequently, creator fund payouts) are way down. One technique they will be using to combat this is increasing the payouts to creators. They hope that will keep creators’ attention on creating content unique to Tik Tok versus other platforms.

đź’ˇ Insight - Although the video format is the same across IG Reels, YT Shorts, & TT it turns out that the type of content that does exceptionally well on one platform rarely does well on another. Content Creator Henry Belcaster regularly gets millions of views on his YouTube videos but when he posts the exact same videos to Instagram they get just a few thousand views.

So with that in mind, it makes sense that Tik Tok would be trying to get creators to focus on creating content unique to the platform by increasing their payouts to them. Do we think it will work? Nope! We are bullish on YouTube and IG over Tik Tok in the long wrong but certainly still post to TT while you can.

🛍 Also From Tik Tok: They Are Try To Find Gold Where Instagram Couldn’t

đź“° TL;DR - Yesterday we reported that Instagram is shutting down its live shopping features as Americans haven’t been adopting live streaming over the last few years. Well, today Tik Tok announced they are doubling down on their live shopping features by launching a new streamlined purchase process for certain retailers in the app. AdAge reported a small number of Tik Tok accounts from US retailers now have a new in-stream shopping tab on their profiles.

đź’ˇ Insight - Much of Tik Tok’s roots are in live shopping so it makes sense they are doubling down on it. We never understood why Instagram didn’t allow for a video feed on brands’ profiles that would let people check out right from IG and they would get a percentage of the revenue… Now it seems like Tik Tok is the first to market with this! Something to keep an eye on for all e-commerce brands, no doubt. Who doesn’t love another revenue stream?

đź’¬ A Quick Sales Tip From Bruno

đź“° TL;DR - Bruno is one of our favorite twitter follows because he always provides short sales & marketing tips. Well 2 days ago one of his tweets dropped som real wisdom about how to handle the most common sales objective, see below…

đź’ˇ Insight - We love this because it helps us understand how to peel back the layers of the buyers’ mind to see what’s really going on.

We are marketers (or sales people) need to over-provide proof and testimonials and answers so that they feel overwhelmed with info to purchase ASAP. The moment they have to “think about it” means you have lost them and you didn’t do enough to help them make sure they aren’t going to make a “bad decision” by buying your product or service.

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