Good morning, Marketers, is social spend consuming more of your ad budget every year?

According to a recent report by media agency Zenith, social media ad spend is predicted to grow 20% by the end of this year, peaking at $84 billion and surpassing print spend for the first time in history.

While TV and paid search still dominate as the top channels for ad spend, the sophisticated targeting capabilities and sheer ubiquity of social advertising have made it a significant category for ad dollar allocation. In fact, Zenith’s data indicates that social advertising could account for 13% of total global ad spend in 2019 and rank as the third-largest advertising channel – behind TV and paid search.

The capabilities and reach of digital advertising continue to cut into traditional advertising efforts, which bodes well for digital advertisers. If Zenith’s report tells us anything, it’s that social advertising is here to stay – and it will continue showing its value as ad investment swells.   

Keep scrolling for more news, including Reddit’s latest integration with Snapchat, why Facebook’s Libra currency is losing steam, and a new ad test from YouTube. 

Taylor Peterson,
Deputy Editor

 
 
 
Pro Tip
 

Is your social media policy agile?

“Social media is by its very nature meant to be two-way communication and its critical that even large, regulated companies are able to trust and empower people to react and respond in real time,” explains Stacey Ackerman of Agilify. “If employees are required to get approvals, communication is delayed and customers will feel ignored and undervalued. If you have a legal team that is used to responding to all of the company, a better structure in agile marketing is to have a representative affiliated with teams.”

“While social media policies began as ways to protect the company and controlling how we respond, we need to loosen the reins and take into account the risk of not being there for our customers. It’s time to focus on relationships with our customers and tearing down the guard rails we’ve put up during the last decade.”

Learn More »

 

Webinar: 7 New Trends for Better Email and Mobile Marketing

Sponsored by Acoustic

Are you delivering the email and mobile experiences your customers expect? Are you measuring your performance the right way? Attend this webinar and learn about industry and geographic factors that influence message engagement, key metrics for diagnosing design and copy shortcomings, and simple tips to improve unsubscribe and hard bounce rates.

Learn More »

 
Social Shorts
 

Reddit gets cozy with Snapchat and Facebook Libra loses steam

Reddit opens up its content to Snapchat. Reddit announced a new Snapchat integration, making it easy for users who have Snapchat downloaded on their mobile device to share Reddit posts on the app. “Simply tap the ‘share’ icon on an image, text or link-based post on Reddit’s iOS app and select the Snapchat option. Then choose a few friends to send the post to, or add it to your Story,” writes Reddit on its Upvoted Blog. Once posted to Snapchat, the content will include a sticker with the Reddit logo and source information. This is the first content-sharing integration for Reddit. Sharable content is limited to posts from “Safe for Work” communities and communities in good standing on the platform. At launch, the feature is only available on iOS, but will be rolling out on Android devices soon. 

More bad news for Facebook Libra. Things are not looking good for Facebook’s Libra cryptocurrency project. Last week, PayPal announced it was pulling its participation in the network, and now eBay, Stripe, Visa and Mastercard are following suit. According to Gizmodo, the only two remaining payment platform partners are Mercado Pago and PayU. Visa said it would continue to evaluate the project and that its ultimate decision would based on the Libra Association’s ability to meet regulatory expectations. 

“Visa’s continued interest in Libra stems from our belief that well-regulated blockchain-based networks could extend the value of secure digital payments to a greater number of people and places, particularly in emerging and developing markets,” a Visa spokesperson told CNBC

When Facebook initially launched the Libra Association, it had 28 companies that had agreed to be part of the group. That number is now at 22 — with each member agreeing to pay a $10 million fee to be part of the association and have voting rights. The Libra Association is scheduled to meet next week in Geneva to review the charter and appoint board members, reports CNBC.

 

Behind The Scenes At SMX East

Search Marketing Expo – SMX East – is coming to NYC November 13-14! This show features the BIGGEST agenda we’ve ever assembled. With 100+ search marketing presentations covering SEO, SEM, agency operations, multi-location search, video, content, analytics, and beyond, picking one thing to be excited about is no easy task. But that’s exactly the question we asked the Search Engine Land editors and SMX agenda programmers…

Read More »

 
 
 
What We're Reading
 

We've curated our picks from across the web so you can retire your feed reader

5 Tips to Measure the Relevance of Your Content – CMS Wire

Why The Marketing Industry Trust Crisis Lingers On – Forbes

It’s time for advertisers to reconsider the legacy agency relationship – Marketing Dive

With the apocalyptic black hole event, Fortnite’s storytelling has grown increasingly ambitious – The Verge

Facebook: Automation is a ‘blunt instrument’ for interpreting context around banned content – VentureBeat

The Complicated Balancing Act Of Video Distribution – AdExchanger