After a flurry of updates through August, the Digital Marketing landscape is quieter right now. Perhaps it’s the calm before the storm of the US election? Either way, Snapchat provided some interesting updates this week and yet more bad news for X.
Let’s get to it!
What’s going on at Snapchat?
Snapchat is a remarkable social platform. Around a decade ago, it was almost unavoidable and seemed only a couple of small moves away from being a dominant player. And then, well, TikTok came along and pushed it in line.
Yet, over the last year or so, Snap has continually released updates stating that it’s seeing steady growth, both in terms of revenue and usage. However, constant and slow growth isn’t particularly enticing for shareholders, with share prices lagging behind competitors.
It’s amid this context that this week, Snap CEO Evan Spiegel stated, “You may be wondering why, with all of the progress we’ve made in our business over the last year, our share price performance has lagged the overall market. The answer is simple: our advertising business is growing slower than our competitors.”
So, with that in mind, Snap has announced that its core goals are to grow its ads business, double down on augmented reality, and develop smart glasses. With advertisers doubting whether TikTok makes sense as an investment, it might be an interesting time to examine Snap’s offerings.
There were a couple of tangible updates to accompany this—first, the company is testing a simplified version of the platform, and second, it will be introducing sponsored snaps into inboxes alongside messages from friends and followers. Away from platform announcements, there was also the news that it’s overtaken Instagram in terms of social shopping usage.
While I wouldn’t be throwing out your TikTok strategy and planning just yet, it’s certainly worth keeping an eye on Snapchat and the broader social landscape ahead of what’s likely to be a disruptive 18 months or so.
X banned in Brazil
Speaking of that disruptive 18 months in the social media landscape, the last week saw X banned in Brazil, and then further fallout as to whether or not Starlink (also owned by Elon Musk) would ban access to the platform in the country as well.
I don’t know whether other governments will follow suit, but it isn’t exactly a great look for X or, indeed at all reassuring for advertisers. I’d certainly look to avoid investing any significant ad spend on there for the time being.
Further Reading
Instagram has announced that it’s rolling out comments in Stories. Initially, these will only be viewable by followers. Also, it was the most downloaded app in the world in July!
With the US election campaigning ramping up, TikTok has announced enhanced security measures and a centre within the app that aims to provide accurate news and updates.
Meanwhile, WhatsApp has announced that it’s working on a way to interact with Meta’s AI tools via voice chat.
Finally, there is an interesting long read about Tesla’s upcoming Robotaxi reveal in The Verge this week. One for your next lunch break!
That’s it! If you found this interesting, I would really appreciate it if you shared it with your friends and colleagues.
If you’re feeling particularly generous, then I won’t stop you from buying me a coffee. Have a great weekend, and I’ll see you next week!