Weekly Marketing Rundown - July 28th, 2023

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Weekly Marketing Rundown - July 28th, 2023

Hi everyone,

In this week's edition of Kavanah Media's Weekly Marketing Rundown, we'll talk about X (aka Twitter), TikTok's new ad library, and more. Let's dive in. 


Twitter is Now "X"

Twitter, in a much-anticipated move, has officially rebranded its platform to "X". This is a significant step in Elon Musk's vision to turn what was formerly known as Twitter into an all-in-one super app, similar to WeChat in China.

This move does not come without complications. Twitter doesn't own the rights to the name "X" - currently Microsoft and Meta own trademarks for it in two separate categories within the United States. Elon and the X legal team are likely in for a long legal battle in multiple countries around the world to protect their brand.

While many new features appear to be on the horizon, for now, the only changes are the logo. All functionality remains the same as it was on Twitter.

X is making an effort to regain ad partnerships and emphasize the advantages of X ads. Twitter is struggling with low ad intake, despite offering 50% discounts and threatening to remove checkmarks from brands that don't spend regularly. The company is meeting with ad partners to maintain relationships to improve revenue intake with big brands and remain confident in its ability to return to even footing and take the platform to new heights.

For more on this, read the articles below

https://www.socialmediatoday.com/news/the-x-era-gets-underway-the-app-formerly-known-as-twitter/688814/

https://www.socialmediatoday.com/news/x-offers-50-discounts-ad-packages-seeks-reignite-advertiser-interest/689092/


Facebook Passes 3 Billion Monthly Active Users

We've all heard people say a phrase along the lines of "Nobody uses Facebook anymore". The marketing analytics have proved this isn't true for a while now, but recently released numbers from Meta have blown that assumption out of the water. According to Meta's Q2 report, Facebook has now passed 3 billion monthly active users (MAU) on the app. Daily active users (DAU) are over 2 billion as well.

Other key metrics are looking good for Meta too. Their entire suite of platforms (Facebook, Instagram, WhatsApp, and Threads) have 3.88 billion monthly active users. Reels boasts 200 billion daily video plays across all platforms as well.

For more on this, click to read the article below

https://techcrunch.com/2023/07/26/facebook-3-billion-users/?guccounter=1


TikTok Launches New Ad Library

Recently, TikTok released a new feature for advertisers called the ad library. Similar to Meta's, TikTok's ad library allows users to see ads that have run through a certain page.

TikTok's ad library appears to have a bit more sophistication involved compared to Meta's. You can search and filter down by ad target country, ad type, ad published date, and advertiser name or keyword. It gets even better from there. From there you can see some extremely detailed settings, such as the ads reach, gender and location targeting, as well as potential audience size.

For more on this, click the link below

https://www.linkedin.com/posts/bramvanderhallen_tiktok-competitoranalysis-digitalmarketing-activity-7087748289952919552-k2zN/?utm_source=share&utm_medium=member_desktop


Threads Has Seen a Significant Decline in Usage

Threads, an app created by Meta to rival Twitter, has seen a decrease in user activity since its launch. This may be due to its limited features, lack of options for posting, and absence of a desktop app or account-switching functionality. However, if new features are added, it could still become a strong competitor to Twitter. Despite the recent drop in interest, the app has still managed to attract 117 million users who have created profiles. It remains to be seen whether Threads can regain its popularity. Daily active users are currently sitting around roughly 13 million. 

For more on this, click the link below

https://www.socialmediatoday.com/news/threads-sees-significant-decline-usage-opportunity-disruption/688715/


Thanks for reading this edition of Kavanah Media's Weekly Marketing Rundown! For more up-to-date insights into digital marketing, make sure to follow us on our social media channels using the links below. 

Facebook: https://www.facebook.com/kavanahmedia 

LinkedIn: https://www.linkedin.com/company/78328025/

Twitter: https://twitter.com/KavanahMedia

 

Authors: Sean Ralls and Joel Overstreet

Article Published: July 28th, 2023

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