Okay, you may have noticed us being a little quieter than usual over the past couple of weeks. Again.
Which as you've probably noticed by now, means we're up to something - and it's a cross team effort!
Anyway, back down here on earth for a moment.
There's been a lot going on recently across our favourite social platforms - and a couple of bits from us too. So, this week we thought we'd round up the news you need to know this month!
What's new with Instagram?
Instagram seems to be fast becoming Facebook's strongest asset.
Despite being owned by Facebook, Instagram remains relatively untarnished by the recent bad press of its big (blue) brother.
Instagram is the preferred place for brands to reach Gen Z
In Piper Jaffray's bi-annual Taking Stock with Teens survey, 70% of Generation Z said that Instagram is their preferred choice when it comes to brands contacting them via social.
This makes Instagram ripe for the picking when it comes to selling to Gen Z online, not only for e-commerce, but now for social commerce too...
Instagram launches Checkout
Remember when we covered Hootsuite's Social Trends 2019 webinar?
One of the key trends predicted for 2019 was Social Commerce, aka the act of buying directly within social.
With Social Commerce already booming in China, it's seen less of an uptake in the west - but Instagram is ready to change that.
Checkout on Instagram allows users to tap on an ad to view the available products. From the product page, they can choose their desired colour/size etc. before checking out, within the app.
Shipping and delivery notifications are then delivered as push notifications from Instagram.
Sounds great, when can I start?
As exciting as this undoubtedly is, Checkout on Instagram is still in closed BETA, with a grand total of 23 notable brands getting to play with it.
For consumers, it's also currently restricted to the US only.
We'll have to wait and see how consumers and advertisers alike respond to this before we can expect a wider rollout...
What's new with Snapchat?
While Instagram is on the rise, we can't forget that many of its most successful features come from Snapchat.
So how is the OG destination for Stories getting on?
Snapchat is the favoured social destination for Gen Z
In the same Talking with Teens survey, 41% of Generation Z named Snapchat as their favourite social media channel. Instagram received 35% of the vote.
It was also named their 2nd preferred method for brands to get in contact. So whilst Snapchat is still great for your ads, don't forget your organic content too!
Side note - Who cares about Gen Z?
Yes, you might be wondering why we're talking so much about Gen Z at the moment - and as with many things, it comes down to money. Oh, and influence.
Generation Z are on track to become the largest generation of consumers by the year 2020.
They currently contribute around $830 billion to retail sales in the US each year, and that spend is up 6% from fall 2018.
They're also of course one of the first generations to have grown up with social media - and social advertising. They carry an awful lot of influence over what's in and what's out. Household spending is also heavily influenced by this demographic.
There's a great Forbes article on Gen Z's financial influence that you can find here.
Snapchat Audience Network Announced
We wondered whether this might happen...
Yes, Snapchat is joining Linkedin and Facebook in offering advertisers the option to extend their ads beyond the platform.
Snapchat announced the launch at the Snap Partner Summit in LA last Thursday, with the network due in the 'coming months'.
Presumably this will take the form of a tick box (as in LinkedIn) or as an editable placement (as with Facebook). It essentially means that should you want your Snapchat ads to reach people off Snapchat, they now can!
Or at least will be able to soon...
What's new with Facebook?
Perhaps the least exciting news of the bunch, what you need to know with Facebook this month is mostly related to metric changes.
RIP Facebook's Relevance Score
Well, sort of.
The current Relevance Score will be replaced - by 3 'Ad Relevance Diagnostics':
- Quality ranking: How your ad's perceived quality compared with ads competing for the same audience.
- Engagement rate ranking: How your ad's expected engagement rate compared with ads competing for the same audience.
- Conversion rate ranking: How your ad's expected conversion rate compared with ads that had the same optimisation goal and competed for the same audience.
Will these impact your ad's performance?
No - but they're there to indicate why your ad might be performing badly - and what you can do to improve.
- A low quality ranking might show a need to improve your creatives.
- A low engagement rate ranking might highlight a need to alter your targeting or message.
- A low conversion rate ranking (with high quality and engagement rate ranking) would show you need to improve your landing pages.
Wave goodbye to 6 more metrics
Along with Relevance Score, Facebook is getting rid of six more metrics. If you use any of these, they've also advised which to use instead..
Here's what's going:
- Offers saved - Replaced by Posts Saved
- Cost per offers saved
- Messaging replies - Replaced by New Messaging Connections and Messaging Conversations Started
- Cost per messaging reply
- Mobile app purchase ROAS - Replaced by Purchase ROAS
- Web purchase ROAS - Replaced by Purchase ROAS
Facebook's Ad Library goes global
Remember when we reported on Facebook's Here Together Campaign?
We wrote about how your ads are now on show - to everyone. They just have to visit your page and head to 'Info and Ads'.
Well that's not the only way they can do it anymore. All of your active ads will now be searchable and visible on Facebook's Ad Library.
Once reserved only for political ads, Facebook has thrown the gate wide open. Simply search for a business and you can view all of their ads, in any country - that are currently live.
Thankfully archived ads and spend information is only available for ads related to political issues.
Worth knowing - it's great that you can see what the top brands in the world are up to - but remember you're also on show...
What's new with TrustAds?
Thanks for asking!
Well whilst we've got a few things in the pipeline, here's some things we can share at the moment:
Improved Frequency and Scheduling
Following our recent frequency and scheduling additions, we've cleaned up the rule creator.
We want the tool to be as easy to use as possible, so you'll feel confident with your new controls!
To help you safely scale your manual bids, you're now able to set a bid change limit.
This means that no matter how aggressively you scale, whether by % or amount - you can ask TrustAds never to increase beyond your chosen figure.
The same works when decreasing your bid, so you'll never go below your set amount!
Remaining Budget Metric
We've added another metric as requested by our community!
The Remaining Budget metric means that you can add a caveat into your rules based on the amount of budget left in a campaign.
If you like to take into consideration how much budget is left in a campaign before taking action - this is the metric for you!
It all depends on how you prefer to work - and what your strategies are. This new metric is another layer you can add into your rules to more accurately reflect the considerations you make before taking action.
End of bulletin
Right, that's your lot for this week - if you have any queries about our new metrics or features drop us a line on firstname.lastname@example.org.
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- Marketing Dive "Gen Z prefers Instagram when hearing from brands"
- Instagram Press "Instagram launches Checkout"
- Business Insider "Piper Jaffray's Talking with Teens"
- Forbes "What you need to know about the financial impact of Gen Z"
- CNBC "Snapchat stock rises after audience network announcement"
- Facebook Business News "Update to Relevance Score - More actionable business insights"
- Facebook Help Centre "April 2019 Metrics Updates"
- Tech Crunch "Facebook rolls out Ad Library globally"