Wednesday Morning, Issue 20 (5/2/24)
Reddit rolls out dynamic product ads, Meta says search ads aren't a focus and Nielsen's 2024 Annual Marketing Report is a must-read.
Hello and welcome to Wednesday Morning, a bi-weekly digest of the social advertising platform news and updates you need to know, along with occasional deeper dives, best-in-class ad examples and the resources we find truly helpful.
šļø JUST THE HEADLINES:
Reddit is rolling out dynamic product ads, citing the widely circulated among marketers stat that āredditā was appended to Google search queries over 32 billion times in 2023 as motivation for this ad offering.
Threads ad prep knowledge: the platform now has more than 150 million monthly active users and has started offering influencers $5k to post on the platform. Threads is (are) happening.
Meta says they arenāt working on search ads, but they are developing ad opportunities in AI chat environments.
X promises advertisers things are on the up and up, but the biggest X headline is Elonās tweet asking if he should bring back Vine (yes).
š©āš¾ IN THE WEEDS:
Keep a close eye on Meta Advantage+ campaigns, as glitches in spend pacing have become commonplace.
X says to trust its AI to set up your campaigns, but Iām personally going to keep taking the time to select manual inputs since these targeting opportunities are the only reason a client would add the platform into their media plan.
š RESOURCES:
Redditās advertiser case studies provide lots of great examples of how advertisers across industries are activating on the platform.
Nielsen published their 2024 Annual Marketing Report summarizing survey responses from over 2,000 global marketers on media spend/performance. Hereās a really great snippet about social spend/performance, but this is a report you should definitely dive into in full:
āSocial media, for example, continues to garner the biggest marketing increases among global marketers. Over the past three years, the average ROI of social media spending has been 36% higher than the average ROI across all media. Our brand impact data also illustrates that 75% of people who are exposed to social media ads say the ads made them more likely to purchase, use or consider the brandā¦ But results vary significantly across brands. The top 25% of brands from an ROI-generation perspective are 6x more successful than the bottom 25%. Comparatively, the average ROI of search, which is the second-most favored channel among marketers, has been 51% lower than the average ROI across all media over the past three years.ā
š£ NEW TRAINING PROGRAM: Last week, I polled LinkedIn for interest in a new training program that will help organic social experts learn paid social with an end goal of giving organic teams more agency over their organizationās paid social strategy. The answer was overwhelmingly, yes, with +150 organic organic professionals reaching out to secure spots. If youāre interested in joining, you can check out the curriculum here and sign up for a cohort here. Note: this training program will operate on a blended fee model, with the majority of professionals attending for free and payments only coming from professionals whose organizations will pay for the cost.
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