Our weekly roundups corral the news you can use.
Facebook is Looking for a Snapchat Filter
It seems almost weekly I write about the growth and maturity of Snpachat. Facebook tried to purchase Snapchat for a mere $3B a few years ago, but Snapchat passed. This week Facebook acquired Masquerade, an app the provides Snapchat-like filters, but for video.
“Masquerade has built a fantastic app, MSQRD, with world-class imaging technology for video. We’re excited to welcome Masquerade to our team and continue enhancing the Facebook video experience,” a spokesperson for Facebook said.
In other Facebook news, expect Instagram (a Facebook property) to start rolling out more Facebook-like features. Also, Facebook continues to make steps to getting the whole world connected. The Facebook-Lite app that was created for emerging nations with less access to data, has hit 100 million users.
New Advertising Feature Now Available on Pinterest
Enhanced targeting tools will soon offer 420 areas of interest on the platform (up from just 30) to help advertisers drill down into specific areas of pinning activity and find potential buyers.
Study: Social Media Advertising is Effective
Why are all of these platforms focusing on enhancing the advertising platform? Because that is how they make their money, and the better and more effective the platform, the more money they make. Anda recent study suggests that social media advertising continues to be more and more effective.
As revealed in the chart below (from eMarketer), 76% of B2C respondents use promoted posts (for example, boosted Facebook posts and promoted tweets and pins). Sixty-one percent of these users found promoted posts as effective, rating them either 4 or 5 on a 5-point effectiveness scale (3 is neutral).
Is There Hope for Twitter
I have been avoiding writing about the death knell of Twitter because I have been wrong in the past about Twitter’s inevitable demise. But there is no doubt that Twitter is going through a bit of an identity crisis. The founder, Jack Dorsey, returned as CEO in October. This week Forbes wrote ann article exploring the question how Jack Dorsey can save Twitter.
A jolt of electricity is exactly what Twitter needs. With stalled user growth, a stock trading at 30% below its IPO level, and a revolving door of executives, the past two years have been among the worst in Twitter’s history. And all the company’s missteps seemed to play out in public—especially on Twitter itself, where power users of the service pounced on every shortcoming and continually predicted its demise. “They’ve run out of eyes to be black,” says Chris Sacca, an early investor who still holds a substantial stake. “This is a company that has taken every punch possible and is still standing.” (Sacca believes Twitter’s worst days are behind it.)
It is a fast-moving, fickle social world out there. Longevity means nothing – it is all about continuous innovation. And that goes for all of us.