SNAP Shocks Industry with Warning
The year 2022 started off rough for social media companies, with cutbacks in digital ad spending caused by inflation, supply chain issues and the war in Ukraine.
Forecasts for the second quarter called for meager growth at best, and stock prices were taking a beating. Then came the bombshell: a series of bombshells, actually. First, it was revealed that a major social media platform had been hacked, with sensitive user data leaked to the public. Then, it was revealed that another social media company had been manipulating user data to influence elections.
The final nail in the coffin came when it was revealed that yet another social media company had been selling user data to the highest bidder. In the span of a few weeks, social media companies went from being under pressure to being in full-blown crisis mode. Their share prices plummeted, and their reputations were in tatters. It was a tough year for social media, and 2022 is shaping up to be even tougher.
SNAP.com CEO Evan Spiegel warned Monday of an environment that's worsened since his company reported quarterly results in April when guidance was already disappointing. SNAP stock is down 8% Tuesday.
SNAP will need to generate over $2 billion in annual revenue by 2022 to justify its current valuation, according to a Goldman Sachs note out Tuesday. "We think this is an aggressive target given SNAP's historical performance," the note said. Goldman Sachs has a $17 price target for SNAP, 60% below where it closed Monday.
SNAP did not immediately respond to a request for comment on the Goldman Sachs note. SNAP shares are down 66% from their IPO price of $24 and 43% from their all-time high of $29.44 in July 2018.
SNAP.com has been struggling to keep up with the rising popularity of TikTok and other social media platforms. As a result, their stock results have suffered, with SNAP.com down by -47% in 2020 and forecast to lose another -20% by 2022. This is a huge blow for the company, which was once one of the most popular social media platforms among young users.
SNAP.com is on a decline, and analysts are concerned about the advertising landscape. SNAP's stock results have been disappointing and the company is expected to fall even further behind in 2022. JMP Securities analyst Andrew Boone cut his price target on Snapchat Tuesday, saying that "the advertising environment is worsening and we have no clear view that this is the bottom."
SNAP.com is now desperately trying to regain its footing, but it faces an uphill battle against newer and more innovative platforms. Only time will tell if SNAP.com can make a comeback or if it will be left behind in the ever-changing world of social media.
Be the Smartest Person in Your Office,
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Three Common Pitfalls of
Social Media Marketing
by Pesach Lattin
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There can be no doubt that social media marketing is now an essential part of any successful marketing strategy. With over 2.3 billion people worldwide having social media accounts, it has become a primary venue for brands to connect with their audiences.
What is more, social media provides businesses with an unprecedented opportunity to gather data about their customers and tailor their marketing messages accordingly. To maximize the potential of social media marketing, businesses need to ensure that their strategies are well-planned and that they are constantly monitoring and adjusting their approach. By doing so, they can stay ahead of the competition and make the most of this powerful tool.
Remembering that social media is "social" is an important marketing strategy. As consumers become savvier, they are less likely to respond to traditional selling techniques. Instead, they want a brand experience that feels more personal and authentic. This means that marketers must be careful not to be too pushy or promotional in their social media interactions. Instead, they should focus on creating content that is interesting and engaging. By doing so, they
will be more likely to win over the hearts and minds of today's consumers.
Don’t Spread Yourself Too Thin
It’s tempting to try and be everywhere at once when it comes to social media marketing. After all, there are a lot of different platforms out there, and some marketers assume that if they can just cover them all, they will hit the right customers. However, this is not always the case. It’s important to remember that not every social media platform is right for every business. For example, a B2B company is unlikely to find much success on Snapchat, while a
fashion brand might struggle to stand out on LinkedIn. The key is to focus on the platforms that are most likely to reach your target audience. By doing this, you’ll be able to create more effective campaigns and see better results.
If you're targeting an older audience on Snapchat, you might want to reconsider your strategy. The platform is known for its fun and youthful filters, which can be a turn-off for more mature users. In addition, the ephemeral nature of Snapchat content means that it's often viewed as less valuable than other types of content. For a business or brand looking to connect with an older audience, Snapchat may not be the best channel. However, if you're looking to
reach a younger audience, Snapchat can be a great way to connect with them. Just make sure your content is appropriate for the platform!
Don’t Just Advertise, but Be Genuine
Internet users are inundated with advertising. They use their social media accounts for conversation, making connections, and developing relationships. They want entertainment and perhaps inspiration. What they don’t want is companies selling them stuff. So, if you’re looking to connect with potential customers online, don’t just advertise. Instead, try developing a rapport with your audience. Share interesting stories, give them something to laugh about, and be
genuine in your interactions. You may not make a sale every time you post, but you will build goodwill and establish yourself as a company worth doing business with. And that’s worth more than any ad campaign.
Ah, social media. The land of interacting with people you went to high school with but haven't seen in years, pictures of food, and memes. So how do you use this powerful tool to connect with your audience and promote your brand? Well, you could take a cue from some of the most popular social media users out there and follow suit. For example, one way to engage your audience is by sharing funny or relatable content.
But be careful not to overdo it - no one wants to be bombarded with posts every hour on the hour. Another way to connect with people is by being authentic and transparent. Showing the people behind your brand helps to create a sense of trust and connection. And finally, don't forget to listen to your audience! See what they're saying about your brand and adjust accordingly.
You Didn’t Get Your Audience Involved
Social media is a funny thing. Marketers post online all the time, but they very rarely involve their customers in the process. And yet, social media accounts are a proven method of success. Why? Because when customers are involved, they feel a sense of ownership and investment in the brand. They become advocates, and they help to spread the word about the company. Involving customers in social media is a win-win situation: it helps the bottom line and it builds
loyalty and goodwill. So next time you're planning your social media strategy, remember to involve your customers. It'll pay off in the long run.
There are so many ways to get your audience involved in social media, and when they get involved, they are more likely to share that involvement with their friends. Here are some ways in which you can involve your audience:
- Get them talking: Use social media to start a conversation with your audience. Ask them questions, solicit feedback, and encourage interaction. The more you get them talking, the more likely they are to keep coming back for more.
- Make it interactive: There are all sorts of ways to make social media more interactive. Use polls, quizzes, games, and other engaging content to keep people coming back for more.
- Go live: Live streaming is one of the most popular features on social media right now. Use it to your advantage by streaming live events, product demonstrations, or anything else that would be of interest to your audience.
- Be responsive: It's important to be responsive when people reach out to you on social media. Answer their questions, address their concerns, and thank them for their input.
So there you have it – three common social media marketing mistakes that can kill your online presence. Avoid these blunders, and you’ll be on your way to developing a successful social media strategy that engages followers and drives traffic to your site.
But what do you think? Are there any other mistakes that we missed? Let us know in the comments!
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ALL YOU NEED TO KNOW, CONDENSED ('CAUSE YOU DON'T HAVE THE TIME!)
1. Fox Corporation is turning its attention to streaming. In a wide-ranging interview this week, the company's head executive said that Fox Corporation intends to invest between $200 million and $300 million annually in its streaming ventures. This is a major
shift for the company, which has traditionally been focused on cable television. The move to streaming is a recognition of the changing media landscape, where more and more people are cutting the cord and going online for their entertainment. Streaming services like Netflix and Hulu have already taken the world by storm, and it's clear that Fox Corporation wants a piece of the pie. With its deep pockets and strong brand recognition, Fox Corporation is well-positioned to succeed in the streaming
wars. Only time will tell how this all plays out, but it's certainly an exciting development for media watchers.
2. The days of simply posting a photo or updating to social media and waiting for the likes to roll in are long gone. In today's hyper-competitive social media landscape, creators are the new currency, and platforms are working hard to sweeten the deal for top creative talent. From Vine to Instagram to Snapchat, everyone is vying for a piece of the action, and the competition is only heating up. The biggest names in social media are locked in a battle for supremacy, and creators are caught
in the middle. However, this is not a bad thing. The increased competition means that creators can demand more compensation for their work, and they also have more leverage when it comes to negotiating partnerships and deals. In other words, it's a great time to be a creator. So if you've got talent and an audience, don't be afraid to start cashing in. And today, Twitter’s taking its latest step in working to boost its creator appeal, with the launch of a
new Twitter Create mini-site, which will host a range of tips, insights and examples designed to help creators maximize their Twitter presence.
3. For the past ten years, Pepsi has been the exclusive sponsor of the Super Bowl Halftime Show, one of the most highly anticipated events of the year. From iconic performances by Beyonce and Bruno Mars to controversial appearances by Justin Timberlake and Lady Gaga, the halftime show has always been a must-watch event. However, Pepsi has announced that it will no longer be sponsoring the halftime show, and it is unclear who will take its place. This is a
disappointing turn of events for fans of the Super Bowl, who have come to expect a spectacular show courtesy of Pepsi. It remains to be seen what this change will mean for the future of the halftime show, but one thing is for sure: it will never be quite the same without Pepsi.
4. Heineken's recent foray into the world of metaverses has been an exciting one to watch. The company unveiled their new virtual brewery at Decentraaland in mid-March, and followed it up with the world's first "in real life" metaverse bar. The response from the metaverse community has been overwhelmingly positive, and Heineken is quickly becoming a leading player in this emerging market. There are sure to be many more exciting developments
from Heineken in the metaverse, so we'll all be watching with baited breath. Thanks, Heineken, for giving us something to look forward to!
5.Who would have thought that the YouTube ads would eventually make their way into the Shorts?I for one am surprised. I mean, I get that they're trying to branch
out and be more relevant, but this just seems a bit desperate. Is anyone really going to want to watch a commercial while they're trying to enjoy a short, funny clip?
6. Stripe is dipping into the app marketplace, which means we'll see familiar third-party business apps built into the platform's dashboard. Dropbox and DocuSign are already onboard. Stripe has always been known for its simple interface and great user experience, but now it's making a move to become even more user-friendly by integrating other popular business apps into its platform. This is a great move for stripe, as it will not only make its
own service more valuable to users but also help to promote the use of other applications that complement its own. stripe is clearly positioning itself as the go-to platform for small businesses, and with this latest move, it is sure to solidify its position as a leader in the space.
7.In these uncertain times, it seems that panic buying is the new normal. And as panic buying TrendWatching has noted, panic buying often goes hand in hand with panic googling and panic clicking. As a result, businesses that can take advantage of these trends can see a boost in their rankings. Of course, there's more to it than just increasing your click-through rate. But if you can get people to panic click on your links, you're well on your way to
panic ranking success.
8. As any marketer knows, data is essential for understanding your customers and crafting effective marketing campaigns. However, third-party data from the likes of Facebook and Google is becoming increasingly difficult to obtain, and it's often of questionable quality. As a result, brands are turning to first-party data to get a better understanding of their customers. This shift has several benefits. First, it allows brands to develop a deeper relationship with their customers. Second, it gives brands more control over their data. And third, it helps brands to avoid the problems associated with third-party data, such as inaccurate or outdated information. As brands move away from relying on third-party data, they will be better able to understand their customers and create
marketing campaigns that are more likely to succeed.
9. TikTok has been growing fast, and the app is notorious for pulling users in. In 2020, the platform shot past Facebook and Instagram, with users spending 38.6 minutes on TikTok, 4 minutes more than Facebook's 34.6 minutes, despite the social network seeing peek use. TikTok is a waste of time, and the app is notorious for pulled users in. In 2020, the platform shot past Facebook and Instagram, with users spending 38.6 minutes on TikTok, 4
minutes more than Facebook's 34.6 minutes, despite the social network see peak use. Time spent scrolling through TikTok has been growing fast. What else can you do in those 4 minutes? You could've caught up on world news, read a couple of pages from a book or even accomplished something productive. But no, you were scroll through an app filled with videos of people dancing or singing badly. And for what? Some virtual currency that you can use to buy other people's videos? Videos that you
could've just watched for free anyway. If you're one of those people who spend hours on TikTok everyday, ask yourself this: Is my time really that worthless?
10. While Klarna may be a big name in the fintech world, it seems that the company is not immune to the same financial struggles that have been plaguing other businesses during the pandemic. According to reports, Klarna has announced plans to lay off 10% of its workforce, which amounts to around 700 people. The company has cited the ongoing health crisis and the resulting economic downturn as the main
reasons behind the decision. While this news is certainly not ideal for those who are affected by the layoffs, it is a reminder that even the most successful businesses can be adversely affected by unforeseen circumstances. “I am no stranger to sharing good and bad news. However, today is the hardest one to date,” Klarna co-founder and CEO Sebastian Siemiatkowski wrote in a message shared with all employees. “As much as we may like it to be the case, Klarna does not exist in a bubble."
11. So far, Walmart has been testing drone delivery in Arkansas and Florida, and the company plans to expand to six more states this year. The idea is that drones will eventually be able to drop off packages at customers' homes, but the details are still being worked out. For example, how will the drones know where to land? And what happens if a package is damaged in transit? Clearly, there are still some kinks to be ironed out. But Walmart is
betting that drone delivery will be big business, and it's determined to get ahead of the curve. So if you live in one of the six states where Walmart plans to roll out drone delivery, be on the lookout for buzzing overhead!
12. Amazon has long been a pioneer in the world of online shopping, but now the e-commerce giant is dipping its toe into brick-and-mortar retail with its first clothing store in Glendale, California. The new store combines the best of both worlds, offering shoppers a hands-on experience with the latest fashion trends as well as state-of-the-art technology. Amazon's signature blend of convenience and customer service is sure to be a hit with
shoppers, who are increasingly seeking out in-store experiences following pandemic shutdowns. With its new store, Amazon is once again setting the standard for retail innovation.
13. LifeStreet, a mobile-first programmatic marketing platform for performance advertisers, today announced the launch of Nero, its re-engineered demand-side platform (DSP). Nero pushes for greater transparency in ad tech by giving complete visibility into the full combination of variables involved with executing a programmatic media buy from a single user interface (UI).
14. The Federal Trade Commission has fined Twitter $150 million over allegations that it misled users by asking for their phone numbers and email addresses for security purposes, but then drew on the information for ad targeting. The ftc says that Twitter collected the information without getting users' consent and used it to sell targeted ads. This is a serious violation of user privacy, and the ftc is sending a strong message by imposing such
a high fine. Twitter has agreed to stop collecting this information and to delete any data that it has already collected. This is a victory for user privacy, but it's also a reminder that we need to be careful about what personal information we share online.
15. Advertising is far from perfect, and it seems like we're reminded of that on a daily basis. Last month, a headline in MediaPost read "The State Of Digital Advertising Is (Still) Bad." This seems to be the endemic narrative in ad tech, regardless of how much discussion and resources are dedicated to overcoming it.
If you're paying attention, you're reminded of it on nearly a daily basis. From issues like fraud to a general lack of transparency, there are many challenges that need to be addressed in the world of advertising.
16. Some people are researching products online and in stores. This is called "omnibuyers." Google talked about this at their Marketing Live event. They think that these people will keep using these habits in the future. There, I covered this like everyone else.
17. Marketing budgets are finally on the mend! They're reaching 9.5% this year, versus 6 before pandemic levels were reached in 2021 when it was 10%. The good news doesn't stop there though- according to Gartner's latest CMO spending and strategy survey from their symposium/Xpo event where they presented these findings at for all those
interested parties who couldn’t make it out live - marketers have been able not only recover but also increase their investments into marketing strategies with an eye towards achieving greater ROI than ever before or most companies can expect today."
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The Watercooler
Impress your Co-Workers with these useless facts about marketing
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Welcome emails are essential for businesses looking to engage with their customers and increase sales. And, with an average open rate of 82%, they offer a great opportunity to do just that!
Welcome emails are the first impression your business makes on a new subscriber, so it's important to make them count. Here are a few tips to help you maximize the impact of your welcome email campaign:
1. Keep it short and sweet: The last thing you want is for your welcome email to get lost in a sea of text. Keep your message clear and concise, and make sure the most important information is front and center.
2. Use engaging images: A picture is worth a thousand words, so make sure your welcome email includes eye-catching images that capture the attention of your audience.
3. personalize your message: Take the time to personalize your message for each new subscriber. Include their name, company, or other relevant information to show that you value them as an individual.
4. Offer a discount: Everyone loves a good deal, so consider offering a discount code or special offer in your welcome email. This is an excellent way to encourage new subscribers to take action and buy from you.
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All About Us & Advertising
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We want to help you succeed online - that's why we offer this information for free. It's our way of giving back to the community and helping people achieve their business goals.
Sign up now and gain access to our entire library of resources!
Want to advertise? Contact pesach@lattin.us
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