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Pinterest Rises to 459 Million Users, Posts Strong Revenue Result in Q4

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pinterest rises to 459 million users posts strong revenue result in q4

Pinterest has posted its latest performance update, posting a significant jump in revenue, and steady growth in overall usage.

First off, on users – Pinterest added 17 million more users in Q4, taking it to 459 million actives.

Pinterest Q4 2020

As you can see, that means Pinterest has maintained the same growth momentum from the previous quarter, which is a positive result, and underlines the platform’s ongoing progress.

Though it is worth noting that its growth has seemingly stalled in the US. Pinterest’s US monthly usage increased 11% YoY,  while internationally, the platform grew 46% in the same period. 

That’s not necessarily a bad sign, as it shows that Pinterest is expanding its offerings, but Pinterest is heavily reliant on US users for revenue, as shown in its average revenue per user stats.

Pinterest Q4 2020

Pinterest still has a way to go to adequately monetize its international audience, and it’s not growing that figure at the same rate. That does point to ongoing opportunity, and the overall increase in ARPU here is also a positive, but Pinterest will likely need to give this more focus in future – or look to boost its appeal in the US, in order to maximize its opportunities.

For the year, Pinterest added 124 million more users overall. 

Pinterest Q4 2020

For comparison, Snapchat added 47 million DAU in 2020, and Twitter added 35 million mDAU (thus far). Facebook added 299 million in the same period. Given Pinterest’s placement, that’s significant growth, which points to the rising utility of the platform.

Pinterest also notes that it saw higher growth among users under 25 in the quarter

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In terms of revenue, Pinterest brought in $706 million in Q4, an increase of 76% year over year compared to Q4 2019.

Pinterest Q4 2020

That’s a strong result, which underlines Pinterest’s growing connection to eCommerce, which saw a massive increase in 2020.

As per Pinterest:

“Revenue growth was driven primarily by an earlier and sustained holiday season and product improvements that helped advertisers scale budgets and achieve more conversions. Advertiser demand was broad-based as businesses have increasingly adapted to the COVID environment.”

Among the key additions in the period was the introduction of a new Shop tab on business profiles, along with improved product tagging, while Pinterest also jumped aboard the Stories train with Story Pins.

Pinterest story pins

Both product tagging and Story Pins are set to get more focus in 2021, with Pinterest looking to make it easier for more businesses to list their products on the platform, ensuring users can purchase more items direct from Pins.  

“We’re also taking important first steps to build a creator ecosystem around Story Pins where a new generation of creators can create great content to enrich the lives of Pinners.”

Which is the key impetus of Stories – with so many users, especially younger audiences, become more accustomed to the full-screen, vertical Stories feed, it makes sense for more platforms to be following the trend and adding their own Stories options. 

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Pinterest’s numbers underline the growth of eCommerce more broadly, while they also solidify Pinterest’s standing within that shift. And while its US growth was flat for the quarter, the expanded revenue opportunities, and connection to online shopping, hold the platform in good stead for further development and opportunity.  

Socialmediatoday.com

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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