Check out this TribeTalk from our Marketing Specialist, Kathryn Betancourt chatting with our Co-founder, Josh Sturgeon.
Instagram Launches TikTok Clone
Apparently to compete with TikTok, Instagram has launched a new feature called Instagram Reels. It will be found in your Instagram Stories shutter options.
Taking a similar approach to how Facebook/Instagram expanded its Stories first to countries where Snapchat was not yet popular, they are releasing Reels to a country that TikTok penetration is not very big yet: Brazil. It’s the perfect country to test as Brazil has a ton of Instagram users already and a very musical culture.
🎬 Reels released to US Instagram users amid TikTok concerns. →
Instagram will be able to monetize this right away since they already show ads in Stories and the Explore tab. It will be interesting to see how this could change the Instagram culture from more serious autobiographical to silly videos for entertainment.
If you haven’t already definitely check out the “TikTok” we made in the TribeTalk recording. All of you shine bright like a diamond!
Instagram Hiding Likes
Remember way back in our very first Tribetalk, when we discussed Instagram hiding likes? Well, months after Instagram tested hiding like counts in many other countries, CEO Adam Mosseri announced that Instagram users in America can expect like counts to be hidden from public view as they start testing this week.
Instagram says they are doing this in an attempt to be the safest place on the internet. Mosseri says, "It means we’re going to put a 15-year-old kid’s interests before a public speaker’s interest. When we look at the world of public content, we’re going to put people in that world before organizations and corporations."
This may be great for the everyday user but how will digital advertisers measure engagement? If likes go away for good, we’ll have to adapt and use other measurements such as video views, comments, etc., to determine non-bottom-line success.
Uber Ads
That’s right, Uber is entering the ad space by starting to sell ads in their Uber Eats app!
We think this is a no-brainer for Uber and honestly wonder why it took them so long. It will help improve the apps profit margins significantly. Now, Uber only takes 10.7% of gross bookings as adjusted net revenue because it pays to restaurants and drivers.
Here’s an example of where you might be able to see ads.
This will be a great place to advertise for those in the food industry, and perhaps others. We are excited to see what Uber comes up with as they are just now hiring to make this happen.
Adidas Admits To Over-Investing in Digital Advertising
Not something many in the digital advertising space would like to admit, but Adidas admitted to over-investing in digital advertising.
It basically came down to having the wrong focus. They were too hyper-focused on ROI, and brand-building suffered. Adidas’ Global Media Director, Simon Peel said the company was too focused on lowering costs, which caused them to not make the best decisions about what was right for the brand.
While Adidas thought only performance drove eCommerce sales, brand activity was driving 65% of sales across wholesale, retail, and eCommerce. The advertising was split into brand (23%) and performance (77%). They are now moving to 60% brand and 40% performance.
One of our core values at EmberTribe is “results are not enough”. Although ROAS can be a good metric, this is a great example of having good ROAS but over-investing because that’s all you are focused on. Make sure you are looking at the full picture around attribution.
Adidas is now changing up their attribution model to what might be the right fit for them. Peel thinks it will include econometrics and a test-and-learn approach.