Each week, we compile some of the hottest news in digital marketing, so your small business can stay in the know and on the cutting edge. This week: from Facebook and Instagram to growth in podcasts, we’ve rounded up some interesting developments that will help you get your message in front of a broader audience in new and exciting ways!
Facebook implements new Marketplace Ads
According to TechCrunch, Facebook has decided to monetize Marketplace Ads. This new feature will allow users to purchase directly from a Marketplace Ad. Facebook states, “We recently started to expand Marketplace to include businesses, so people can browse products and services from people in their local communities.”
Brands can now select “Automatic Placement” which will allow their ads to be shown on News Feed, Instagram, Messenger, Audience Network, and Marketplace. Additionally, all advertisers targeting US and Canadian audiences can run ads in the Marketplace.
Facebook’s new implementation will give small businesses ample opportunities to reach their target audiences. In fact, Facebook has already seen results: Thread Wallets, an accessories company, generated more than 300 additional purchases from Marketplace Campaigns. Overall, Facebook’s Marketplace Ads will allow your ads to reach a larger audience, giving you a better return on your Marketing efforts.
Instagram expected to launch Long Form Video Hub
Instagram is expected to launch a new feature on June 20th: a long-form video hub. With this new feature users will be able to upload full screen, vertically oriented videos, in 4K resolution. Additionally, videos will no longer be subject to a 60 second time limit, but can range from 5 to 15 minutes. A swipe-up option is also expected to be added, which will drive traffic to user’s website or e-commerce stores.
This feature will be available to any user, from large brands and influencers to small businesses and average users. he long-form video hub will allow small businesses to create and post more meaningful content, with a greater opportunity to reach a wider audience.
U.S Podcast Ad Revenues Skyrocket to $314 million in 2017
A new study by IAB (Interactive Advertising Bureau) and PwC U.S. has discovered that the U.S. podcasting industry reached $314 million in revenue, which is up 86% since 2016. Their research predicts revenue to triple in the next 3 years.
Some of the top advertisers for podcasts include financial services, direct to-consumer retailers, and arts and entertainment. PwC spoke about their study and said, “Whether at home on a smart speaker at work on a PC, or somewhere in between on a mobile device, more and more Americans are listening while they live, providing a robust podcast platform where advertisers can connect with today’s customers.” Additionally, IAB commented on their research and stated, “These strong numbers speak to advertisers’ increasing recognition that podcasts provide a powerful platform for reaching and engaging audiences.”
With the strong growth in podcast consumption among todays consumers, small businesses are now offered another medium through which to distribute custom, original content—engaging potential customers and demonstrating their industry expertise.
Stay tuned each week for more digital marketing insights and developments that can shape the way your business does business.