01 Aug First User Growth, Now Revenue Growth Falters at Twitter | Social You Should Know
Imagine that your company made $600 million in just three months, up 20% from a year ago, but everyone was mad about it. That was Twitter’s week. Check it out here, plus more about Reddit and Social Fresh, in this week’s Social You Should Know.
Twitter Revenue Stalls, Just Like User Growth
Twitter reported a revenue increase of 20% for this last quarter, amounting to whopping $602 million, but they missed their analyst expectation of $606.8 million. They also predicted revenue of $610 million for this quarter which is well below what analysts expected at $678 million. Also, their stock fell 11% this quarter and the networks user base grew only 1%, to 313 million monthly actives. Twitter’s attempt at a turnaround? A new ad campaign explaining what the platform is to its users, you can check it out here. However, there are two concerns with this: A) Social networks don’t grow because of ad campaigns; and B) More than 700 million people have already tried Twitter and quit. It’s going to be tough to get them back, but they are trying.
— Twitter (@twitter) July 25, 2016
Reddit, Famously Tough to Market To – Offers a New Ad Unit
Most social networks have a personality and community norms, but few have been as difficult for marketers to understand and crack as Reddit. Help may be coming, from Reddit, as they introduced a new ad unit called a ‘Promoted User Post’. Now brands don’t need to post their own stuff. They can find a “good” user post and pay to boost it in a sponsored unit. Could be a clever way to spread messages in Reddit without alienating users.
Keep your Social Fresh, at Social Fresh
One of my very favorite social media marketing conferences (and I don’t have many) is Social Fresh. Jason Keath has done a very good job with this for years now, and this year’s event (August 18th – 21st in Orlando) will be no exception. I’ve been to several of these and really recommend you register. You won’t be disappointed. But I’d do it quickly before prices go up. Use this special Ignite link to register now and save $150.
That’s about it. Except if you do social media marketing for a living, this blog post from Buffer is a must to bookmark. It has nice tips and spreadsheets that you can steal. Have a great week.