Welcome to Social Media Buzz Weekly, your weekly bulletin of the latest social media updates. With the social media landscape evolving with each passing day, it can be challenging to keep a tab on the rapid developments. Well, not anymore, as we have taken it upon ourselves to keep you abreast of every happening in the social media space.
So, without any further ado, let’s look at some of the most significant developments from the last week in the world of social media.
1. Twitter Will Offer Cheaper Business Verification Packages for SMBs
Twitter’s been pushing for brands to confirm their official presence by signing up to the program, but according to Twitter chief Elon Musk, there’s also a cheaper version in the works for SMBs, which will also provide a form of in-stream verification for their account.
So it won’t cost $1000 per month for all businesses to get verified, just big businesses, as per Musk. Twitter’s push to make subscriptions a bigger source of revenue for the company isn’t currently going as well as Musk and Co. would have hoped, with fewer than 0.33% of Twitter users signing up to Twitter Blue, and few organizations willing to pay the hefty $1000 per month fee.
2. Twitter Reinstates Free API Access for Public Service Providers in the App
Twitter has announced that public utilities will be able to re-access Twitter’s API for free. Twitter increased the price of its API access last month, with many organizations and developers who had previously been able to access Twitter connectivity for free now being asked to pay upwards of $40k per month for similar access.
3. Snap Outlines New Ad Opportunities, Including Spotlight Ads and Promoted Links in My AI Chats
Snap’s looking to help advertisers tap into Stories with a new ‘First Story’ offering, which will enable ad partners to ensure that their ad is the first to be shown between friend Stories in the app on any given day. Snap says that this premium placement option will have the potential to reach over 50 million users, and will help to boost awareness for major campaigns in the app.
Snapchat’s also launching ads in Spotlight, its TikTok-like feed of short videos in the app. Spotlight ads will be displayed between clips, providing another opportunity to reach Snapchat users in a high engagement surface.
4. Instagram Updates Policies Around UGC to Expand Content Collaboration Opportunities
Instagram’s updating its policies around affiliate marketing, while it’s also renaming its Branded Content Ads to Partnership Ads instead, in order to better communicate its evolving approach on this front.
Instagram will also now enable brands to promote more types of user content in the app, not just the posts that use the Paid Partnership label. That’ll provide a new range of ways for brands to monetize UGC, while also giving creators more opportunities to form business partnerships by expanding the pool of potential ad partners that can connect with them based on their posts.
5. Instagram’s Testing a New Generative AI Sticker Creation Process In-App
Instagram is closing in on the launch of its first generative AI tools, with a new sticker creation process that will enable users to create visuals in the app based on text prompts.
Instagram’s developing a process that would enable users to create custom stickers in-stream, powered by generative AI. Users would then be able to share those visuals in app, providing another way to engage and create using Instagram’s native tools.
6. TikTok Announces Programming for Asian and Pacific Islander Heritage Month
May is Asian and Pacific Islander Heritage Month, and TikTok has announced a new line-up of special event programming, as well as a showcase of top API creators, to help promote and share the event with its user community.
TikTok will be running a range of themed live-stream events throughout the month, showcasing API artists, dancers, musicians, and more. TikTok will also highlight API musicians, with genre playlists to be boosted in the app. Moreover, TikTok’s launched its first-ever ‘API Visionary Voices’ group, which will see it promote a range of influential users from the API community throughout the month.
7. TikTok Expands ‘Creativity Program’, Providing More Monetization Opportunities for Creators
TikTok has announced a new expansion of its Creativity Program, which provides direct funding for top creators based on content performance in the app. First launched with selected creators back in February, the Creativity Program is the next evolution of TikTok’s Creator Fund, providing more monetization opportunities for the app’s top creators.
8. TikTok Announces Date for Third Annual ‘TikTok World’ Event
TikTok has announced the date for its third annual ‘TikTok World’ event, where it’ll share insight into its latest product developments, ad tools, and creator options, along with strategy tips and pointers to help grow your TikTok presence. TikTok World 2023 will be held on May 9th, with people able to tune in online to various information sessions and keynotes.
The event will feature TikTok product experts who’ll share the platform’s evolving strategy, ‘covering trust, efficiency, and simplicity’, as well as TikTok-first formats that drive value and results.
9. TikTok Announces Education and Funding Initiatives for Small Business Month
TikTok has announced a new set of workshops for Small Business Month, designed to help SMBs understand how to make better use of the platform for promotions.
First off, TikTok will be hosting a four-week long series of workshops throughout the month, which it’s calling the ‘TikTok TakeOff’ series. The webinar series will showcase stories of SMBs that have seen success in the app, along with tips and strategy notes to get you started.
TikTok’s also donating $1 million to the Hispanic Heritage Foundation to elevate entrepreneurship in the Latin community, along with another million to ‘Black Girl Ventures’. Moreover, TikTok will be highlighting small businesses throughout the month, and how they’re using the platform to best effect.
10. Meta Adds New Feedback Options on Reels to Better Align with User Preferences
Meta’s adding new, simplified feedback control options on Reels clips, so that you can register what you want to see more or less of in your feed.
There will now be a new ‘Show more’ and ‘Show less’ option at the top of the three dots menu on any Reels clip. Meta will also prompt users for direct feedback at the bottom of the screen, in order to better align their algorithmic recommendations with their interests.
11. LinkedIn’s Now Up to 930 Million Members, Continues to See Strong Engagement
LinkedIn has continued on its steady path, which has seen it progressively add more members, and boost user engagement. The social network is now up to 930 million total members, up from the 900 million it reported back in January.
LinkedIn continues to add more users around the world, with its biggest member gains over the last three months coming in India (+4 million), the US (+3 million) and Brazil (+2 million).
Wrapping Up
And that was a wrap of this week’s Social Media Buzz. We’ll be back next Monday with more news and updates for you from the social media world. Till then, stay tuned!
If you want to read more on the latest developments taking place in the social media space, take a look at ClickInsights’ Social Media Buzz, wherein we bring to you monthly reports on everything going on in social media, ranging from platform updates to policy changes that influence the way we market.