Marketing Trend Tracker - Series 12
This edition of Trend Tracker examines the highs and the lows happening for social media platforms. Companies like LinkedIn are introducing new opportunities, such as sponsored newsletters, offering alternative channels for brand promotion and engagement. Meanwhile, major brands are reducing their TikTok ad spending reflecting the growing uncertainty about TikTok's future and prompting a strategic reevaluation of digital advertising investments. Navigating these changes is crucial as brands seek to adapt and thrive in a shifting digital landscape. At SparkShoppe, we work to bring you the latest marketing news. Read below to learn more!
Major Brands Decrease Their TikTok Ad Spending
Ahead of TikTok’s potential upcoming ban in the United States come January 2025, major brands have begun reducing their spending on advertising.
Some of the brands with the biggest declines
are Target, DoorDash, Bayer, and Procter & Gamble. Although TikTok could avoid this fate if its parent company, ByteDance, sells the company before the U.S. government’s deadline, it remains to be seen whether this will happen. Read more about TikTok news on our
blog.
Companies are shifting focus to other outlets due to the uncertainty in TikTok’s future. If TikTok does get removed from U.S. users, brands will need to move to different platforms in order to reach their target audience. These brands have been proactive in their approach to the potential TikTok ban, but is that the right decision for everyone?
The TikTok paradox looks at
two situations: on the one hand, TikTok is very popular and contains a wide audience,
reaching 1.92 billion users worldwide in 2023, making the social media platform a logical choice for many brands to include in their digital marketing budgets. On the other hand, relying on a social media platform that may soon disappear is a calculated risk. Even though advertising on TikTok may mean more reach, brands should start to integrate other platforms into their advertising strategy if they have not done so already.
Sponsored Newsletters: A New Feature of LinkedIn
Recently, LinkedIn announced that it was changing its sponsored articles ad option
to include sponsored newsletters. These will serve as another method for brands to generate leads on the social media platform. Interestingly, the newsletters have had significant growth and could be a noteworthy opportunity for promoting your brand.
