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Pinterest Reports Slowing User Growth in Q2, More Engagement Among Younger Audiences

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Pinterest Reports Slowing User Growth in Q2, More Engagement Among Younger Audiences

Pinterest has published its Q2 2023 performance update, which shows some concerning signs for overall platform growth, though it is growing, which is a positive trend.

First off, on users. Pinterest added 2 million more users in Q2, taking it to 465 million monthly actives.

That’s Pinterest’s slowest growth rate in a year, though again, it is growing, which in itself is welcome news after the platform suffered a decline in usage following the pandemic bump.

In Q1 2021, at the height of the COVID lockdowns, when everyone was seeking alternative shopping options, Pinterest rose to 478 million users, before sliding back over the next year to 431 million. Since then, it’s been steadily regaining its footing, so while its growth has slowed in this quarter, it is maintaining an upward trajectory, though slower growth will logically spook the market.

What’s particularly concerning in this respect, however, is that Pinterest is actually losing ground in its most lucrative user markets. U.S. growth has stagnated, while European usage declined, with all of its new users coming from the ‘Rest of the World’ category.

Which just doesn’t generate as much revenue for the app.

Pinterest Q2 2023

Pinterest is clearly reliant on the North American market, and while global expansion will facilitate new opportunities, as you can see in these charts, the revenue impact of such pales in comparison to its key centers.

The fact that EU users are seemingly losing interest is a concerning sign, while Pinterest needs to see at least some growth in the US to boost its revenue potential. It hasn’t increased its US user count for essentially a year now, and that’s something that’ll come under more scrutiny as analysts look to project the app’s future potential.

But right now at least, Pinterest is maintaining revenue growth, posting a 6% year-over-year increase to $705 million for the period.

Pinterest Q2 2023

It’s steady, and it’s not going to blow anybody away. But along with cost-reduction measures, Pinterest is maintaining its margins, and growing its business opportunities, which will see it hold firm for now amid shifting market conditions.

In terms of usage, Pinterest says that sessions, impressions, and Pin saves all grew faster than MAUs, which it claims is indicative of it ‘deepening engagement with our user base’. In other words, while Pinterest may not be adding a heap of new users, those that are using the app are engaging for longer, and more often, so it’s in a better position to monetize its most engaged audience.

Though again, you would want more of these users to be in the U.S. and EU, but 465 million engaged shoppers is still a very valuable audience, which many retailers, in particular, will be interested in.

Pinterest also notes that it’s seeing solid growth in usage among younger audiences:

“In Q2, Gen Z were our largest contributor to overall engagement growth and the fastest growing cohort, growing double digits and accounting for a larger portion of our overall mix.”

That’s also a good indicator for future success, but a lot of this is projecting forward, with the immediate results reflecting more of a holding pattern for the app.

Pinterest also says that it’s seeing engagement growth in various key verticals, including men’s fashion, autos, health, and travel, again highlighting expanded opportunity.

Auto marketing has emerged as a bigger focus for the app, in a niche that many wouldn’t expect, and it’s worth highlighting in this context, as Pinterest does see a lot of engagement in several verticals that are outside of its normal DTC focus.

So what do these results suggest for marketers?

Pinterest remains a potentially valuable consideration for a wide range of brands, and really, you need to explore the app for yourself to understand your opportunities, and how brands in your niche are performing.

465 million users is a big audience, with a wide range of interests, and you can use tools like Pinterest Trends to get a handle on what people are engaging with, and how that relates to your business.

It’s not exploding with new users, and some of the growth numbers here are a concern. But with such a big group of users coming to the app with shopping intent, there are still significant opportunities for the right brands.

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YouTube Adds New Analytics Cards, Simplifies its ‘Product Drops’ Feature

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YouTube Adds New Analytics Cards, Simplifies its ‘Product Drops’ Feature

YouTube’s making some updates to its Product Drops feature within live streams, while it’s also adding some new analytics cards, and testing a new format for its TV app.

First off, on Product Drops. YouTube’s changing the requirements for Product Drops in live streams so that more creators will be able to include drops to highlight their items.

Up till now, Product Drops have only been available to creators who’ve connected their Shopify stores, or have access to Google Merchant Center, while creators have also had to plan Product Drops in advance, and schedule them via Live Control Room. But now, YouTube’s giving more creators more ways to access the feature.

As per YouTube:

“Any creators who have connected to their first party stores, or are participating in the YouTube Affiliate Program can set up Product Drops in the live control room on YouTube. This means that more creators will be able to use Product Drops to boost sales and engagement on their live streams.”

YouTube will also now enable creators to implement Product Drops at any time during a live stream, eliminating the pre-planned requirement.

“This will give creators more flexibility to react to the moment, and drive excitement in real time.”

YouTube says that many creators have seen good response to their Product Drops, with the interactive, engaging process helping to drive hype, and spark more response from viewers.

Product Drops are available via the Live Control Room in YouTube Studio. You can read more about how they work here.

YouTube’s also updating its Community Posts creation flow, in order to simplify the process, and ideally get more channels posting text-based updated in the app.

Community Posts remain a lesser element, though YouTube’s been working to make them a bigger focus throughout the year, by adding additional engagement elements like pollsquizzesdisappearing updates, and more.

Simplifying the creation process is another step in boosting awareness, and potentially driving more interaction with you YouTube audience.

YouTube’s also adding some new revenue analytics cards, including “Total Members” insights (which includes subscriber data) and “Where Members Joined From”, which will provide more insight into what’s driving channel growth.

YouTube’s also adding new data on why users have canceled their membership within the insights tab in YouTube Analytics.

YouTube analytics cards

As you can see in this example, the new card will show the reasons why people have opted to stop their subscription to your channel, based on responses provided in the cancellation flow.

Finally, YouTube’s also experimenting with a new format for its TV app, which will make it easier to access different elements.

YouTube TV app

As you can see in this example, shared by 9t05Google, the new format will include bigger buttons to access different elements, and further customize your YouTube experience on the bigger screen.

Connected TV is the fastest growing viewer segment for YouTube, with more and more people now looking to consume YouTube content on their home TV set. As such, it makes sense for YouTube to roll out more updates aligned with big screen viewing in order to feed into this usage.

Some handy updates, across various elements, which are worth noting as you go about managing your YouTube presence.

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Musk regrets controversial post but won’t bow to advertiser ‘blackmail’

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Elon Musk's comments at the New York Times' Dealbook conference drew a shocked silence

Elon Musk’s comments at the New York Times’ Dealbook conference drew a shocked silence – Copyright GETTY IMAGES NORTH AMERICA/AFP Slaven Vlasic

Elon Musk apologized Wednesday for endorsing a social media post widely seen as anti-Semitic, but accused advertisers who are turning away from his social media platform X of “blackmail” and said anyone who does so can “go fuck yourself.”

The remark before corporate executives at the New York Times’ Dealbook conference drew a shocked silence.

Earlier, Musk had apologized for what he called “literally the worst and dumbest post that I’ve ever done.”

In a comment on X, formerly Twitter, Musk on November 15 called a post “the actual truth” that said Jewish communities advocated a “dialectical hatred against whites,” which was criticized as echoing longtime conspiracy theory among White supremacists.

The statement prompted a flood of departures from X of major advertisers, including Apple, Disney, Comcast and IBM who criticized Musk for anti-semitism.

“I’m sorry for that tweet or post,” Musk said Wednesday. “It was foolish of me.”

He told interviewer Andrew Ross Sorkin that his post had been misinterpreted and that he had sought to clarify the remark in subsequent posts to the thread.

But Musk also said he wouldn’t be beholden to pressure from advertisers.

“If somebody’s gonna try to blackmail me with advertising, blackmail me with money?” Musk said. “Go fuck yourself.”

But the billionaire acknowledged that there were business implications to the advertiser actions.

“If the company fails… it will fail because of an advertiser boycott” Musk said. “And that will be what will bankrupt the company.”

Musk, who met with Israeli Prime Minister Benjamin Netanyahu during a visit to Israel earlier this week, insisted in the interview that he holds no discrimination against Jews, calling himself “philo-Semitic,” or an admirer of Judaism.

During the interview, Musk wore a necklace given to him by a parent of an Israeli hostage taken in the Hamas attack on October 7. The necklace reads, “Bring Them Home.”

Musk told Sorkin that the Israel trip had been planned earlier and was not an “apology tour” related to the controversial tweet.

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TikTok Encourages Creators To Make Longer Videos, With Focus On Ad Revenue 11/30/2023

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TikTok Encourages Creators To Make Longer Videos, With Focus On Ad Revenue 11/30/2023

With a need to expand its advertising business, TikTok is now fully focused on the output of long-form videos.

A new report by The Information shows the company’s recent efforts to convince
creators to put out longer videos in order to provide more room for ad placements.

According to the …



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