Get the latest social media insights through a digital marketing lens.
💸 Pinterest Fashion & Beauty Creators Recieve $1.2 Million in Funding 💸
In a huge expansion of their Creator Fund program, Pinterest has committed to highlighting underrepresented creators in the fashion and beauty world through a $1.2 million investment into creator resources.
Sponsored in part by L’Oreal USA, this investment follows the huge success of Pinterest’s initial creator funding phase, which resulted in both Pin impressions and overall views increasing on the platform. After a focus on fashion and beauty creators, the funding will also be rolled out to lifestyle, wellness, home and food creators.
With this announcement presumably attracting more skilled talent to the platform, fashion and beauty brands have all the more incentive to tap into the Pinterest influencer market for advertising. Pinterest has worked hard to create a representative and inclusive platform for users and creators to collaborate and connect—could Pinterest become the go-to for building brand trust? Watch this space 👀
💥 TikTok Announces New Measurement Framework to ‘Drive Full-Funnel Business Impact’💥
If you weren’t already been convinced that TikTok is the place to be for brands right now, their latest move might finally convince you. TikTok has announced the rollout of new measurement tools for marketers to calculate and track campaign performance via TikTok Businesses Centre.
The platform has announced they are working to build an ecosystem of measurement tools that will ‘help brands make smarter advertising decisions on TikTok.’
The framework will consist of three main components:
- Be safe and be seen → emphasising brand safety and viewability
- Build performance → tracking both web and app events via TikTok pixel
- Analyse impact → focusing on brand lift studies and media mix modelling
Big players like Adidas and Mcdonald’s have already implemented the framework. Interestingly, Mcdonald’s reported a 3.32% increase in in-store traffic through their re-engagement group. I guess their ‘oddly satisfying’ video of unravelling a cinnamon roll must have some impact. 🤷♀️ You can read the full report here.
TikTok is clearly looking to attract more marketers to its platform. Maybe they should finally make the good sounds available to business accounts… just sayin’.
🎯 New Research Suggests Facebook’s Interest Targeting Delivers Inaccurate Results More Than 30% of the Time 🎯
Facebook’s interest targeting might not be as accurate as we all previously thought. A new study from North Carolina State University set out to examine the specific performance of Facebook’s interest tracking and how it allocates behaviours and topics to users.
Their key findings revealed that over 30% of Facebook’s inferred interests were inaccurate or irrelevant. This, of course, has a significant impact on ad spend when running targeted campaigns.
It’s important to note that compared to Facebook’s 2.9 billion monthly active users, this study had a fractional sample size by comparison. However, Facebook’s data-gathering capabilities have often been touted as the most comprehensive tracking system ever created by a social media platform. So, if they’re producing a 30% error margin, how could this be impacting advertising performance?
So, what can marketers do?
Using look-a-like audiences and similar matching could improve accuracy—putting all your faith into singular topic matching based on Facebook’s system is always a risk. We can only hope that Meta works to iron out these errors during the learning phase. You can read more about the study here.
Thanks for tuning into another weekly round up. We’ll be back next week with more social media news!
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