If there’s one thing to learn from the first month of 2021, other than how hard it is to stick to Dry January during lockdown, it’s that despite the feeling like the world’s come to complete a stand-still, the land of social media never stops evolving.
Since welcoming the beginning of a new year, we’ve seen some exciting social media trends and updates be introduced! So, to kickstart the year, here’s a roundup of the most important and useful updates that took place last month from the likes of Linkedin, Facebook, Twitter, Instagram, YouTube and TikTok.
The launch of LinkedIn Marketing Labs
In January, to help marketers harness the full potential of LinkedIn ads, the platform launched an online-learning centre called LinkedIn Marketing Labs.
The update provides extensive training for users on LinkedIn ad tools through video courses that cover a variety of topics such as; how to use LinkedIn ads, effective ad targeting, how to improve lead generation whilst also covering how to report on analytics.
Courses are not only free, but can be done at the users own pace, allowing marketers to fit this around their already very hectic schedules.
Facebook overhauls its privacy setting
Facebook have revamped their ‘Access Your Information’ tool, helping users navigate their way through the abyss of data it provides on how they use the platforms services.
Having previously split the data into only two categories, ‘Your Information’ and ‘Information About You’, it’s now broken down further into eight categories. These then split into even more specific subcategories, making it more user-friendly and transparent.
If users still struggle to find specific data, for example, why that same fast food ad appears every time you pass it on the way to the gym, the platform has added a search functionality feature. Users can type in specific terms, for instance ‘location’, and the tool will generate suggestions on how Facebook has personalised their experience using data its collected on them.
YouTube analytics added a new ‘First 24 hour’ data metric
For the first time ever, YouTube Studio analytics have added a metric that allows users to measure how well their video has performed during the first 24 hours after upload. Previously, the platform only allowed users to see the public view count- so this is a huge update for the platform!
Whilst providing key insights into how content is resonating with their audience, users also have the option to compare the first 24 hour performance of two videos, side-by-side. They can then see a breakdown of traffic sources into five categories, browse features, notifications, channel pages, external and direct, allowing marketers to gain greater insight into what’s working on their YouTube and what can be improved on next time.
This update will be essential to those who monetise their video content, as the insights show how much revenue the video has earned as well as showing whether users have lost or gained followers within the first 24 hours of upload.
TikTok and WPP announced global agency partnership
TikTok, yet again, made another bold move within the world of social media marketing as they announced their first ever global partnership with creative transformation company, WPP.
This nifty partnership will allow WPP agencies such as MediaCom, Ogilvy and Wavemaker to gain early access to advertising products in development. Agency clients will also benefit as they’ll receive, exclusive opportunities for collaborations with select advertisers, unique access and capabilities on the app – whilst also being at the forefront of TikTok’s new innovations.
Social ad spend skyrocketed in Q4 2020
So, it appears in Q4 2020, brands devoted way more budget to ad spend than before- and quite rightly so! A report from Socialbakers revealed that worldwide spend on social media advertising increased by 50.3% during the height of the 2020 Christmas holiday season, in comparison to the same period in the previous year.
The report also revealed that investment behind video content, particularly live streaming e-commerce, had grown massively. The momentum surrounding live video content highlights the importance social media has as a revenue generation tool for brands and creators.
Apple iOS 14 privacy features may impact ad targeting on Instagram
The new iOS 14 update could potentially have detrimental effects for marketers when it comes to ad targeting on Instagram.
The iOS operating system could soon restrict the amount of data Facebook and Instagram collect for targeted advertising. Users will have to opt-in for data tracking with the new ‘App Tracking Transparency’ feature.
Facebook have argued that these measures could be ‘devastating for small businesses’, as they rely heavily on personalised ads and data tracking.
Twitter acquired newsletter platform Revue
Our final update for January is that Twitter acquired Revue – a Dutch-based newsletter publishing start-up that facilitates writers to publish and monetise email newsletters. Revue already have several high-profile users of its service, including Vox Media and The Chicago Sun Times.
The platform have claimed that by acquiring Revue, it will accelerate their work to help people stay informed about their interests, whilst also giving writers a way to monetise their audience, whether it be one they built themselves, through Twitter, or elsewhere.
Shortly after the acquisition, a “Newsletters” option began appearing in some navigation sidebars. So, keep your eyes peeled, as this rapid move reveals that the platform may soon give writers additional ways to make money through paid subscriptions.
At Prohibition, we work with a range of brands across all sectors to create engaging social media marketing strategies that allow brands to stay up to date with the latest trends and updates. Get in touch today to find out how we could help you: email@example.com.