Meta and LinkedIn Q3 Breakdown

Plus, 📊 BFCM 2023 Insights to Boost 2024 Sales

October 31, 2024


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META AND LINKEDIN

📊 Meta and LinkedIn: Divergent Q3 Growth Paths
Insights from Social Media Today

Meta and LinkedIn’s Q3 results showcase two unique trajectories in user engagement and revenue generation. Meta’s strong revenue performance contrasts with slower user growth, while LinkedIn sees increased user interaction and steady engagement gains.

The Scoop:

Meta has reported modest growth in daily active users, reaching 3.29 billion across Facebook, Instagram, and WhatsApp. Growth in regions like North America and Europe has leveled off, signaling potential market saturation. However, Meta’s revenue has climbed to $40.59 billion, primarily driven by successful advertising ventures. Focused on advancing its tech capabilities, Meta is investing heavily in AI and virtual reality to expand its influence beyond social media into new digital interaction spaces.

In comparison, LinkedIn, part of Microsoft, has recorded “record engagement” in Q3, with daily user interaction reaching new highs. LinkedIn’s success can be attributed to its continuous platform improvements, like language translation and expanded content accessibility, boosting growth in international markets. The platform’s steady revenue growth reflects successful monetization strategies tailored to a professional audience.

Strategic Shifts and Market Responses

Both platforms are strategically adapting to market conditions. Meta is refining its ad framework to stay competitive and offset user growth limits, while LinkedIn is adding features to enhance user experience and relevance within professional communities. These approaches highlight each company’s focus on its core audience and distinct market goals.

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BFCM

📊 BFCM 2023 Insights: Data-Driven Strategies to Boost 2024 Sales
Insights from Jake Abrams

For DTC brands, gearing up for Black Friday and Cyber Monday (BFCM) is essential to optimize holiday season sales. Drawing from the 2023 performance of nine brands, Jake Abrams analyzed metrics such as campaign length, ad budget adjustments, and ROAS trends. Here’s how these findings can shape a strategic approach for a profitable BFCM in 2024.

🗓️ Optimal BFCM Promo Duration

Insight: BFCM campaigns in 2023 were, on average, longer than anticipated.

Data Points:

  • Average Campaign Length: 23 days

  • Longest Duration: 61 days

  • Shortest Duration: 4 days

Takeaway: Extending BFCM promotions beyond the standard four-day span often proves advantageous. Running a multi-week campaign captures a broader audience, allowing potential buyers more time to finalize their purchases. A 20-30 day sale period gives ads the time to reach different segments and expand overall campaign impact.

💸 BFCM Ad Budget Expansion

Insight: Brands significantly ramped up daily ad budgets during BFCM.

Data Points:

  • Median Increase in Ad Spend: 124%

  • Largest Increase: 714%

  • Smallest Increase: 64%

Takeaway: Scaling ad spend is key to meeting BFCM demand. Brands often doubled or even tripled their ad budgets, with some spending spikes reaching 700%. The data suggests brands should plan for at least a 100% increase in daily budgets, while remaining flexible to further boost funding if ads perform well. Prepare in advance by securing an extra budget or tapping into flexible funding to maintain momentum through high-traffic days.

📈 ROAS Lift: Emphasis on Reach Over Efficiency

Insight: ROAS trends showed variability, with some brands achieving significant increases while others saw declines due to broad targeting.

Data Points:

  • Median ROAS Increase: 37%

  • Highest ROAS Jump: 119%

  • Lowest Change: -25%

Takeaway: BFCM often focuses on maximizing reach, even if that means less efficient ad spend. While some brands achieved notable ROAS improvements, others prioritized scale over cost-efficiency, which can dilute returns but drive higher revenue through wider reach. This approach underscores the importance of prioritizing volume and reach during BFCM to capture maximum holiday spend, even at the expense of short-term ROAS stability.

Final Thought: Extend, Scale, and Capture Volume for a Strong BFCM

For a successful BFCM in 2024, brands should aim for a longer promotional period, flexible ad budget increases, and a strategy that prioritizes reach and volume. Implementing these data-backed tactics can help your brand make the most of the holiday shopping season, ensuring maximum visibility and sales potential.

GOOGLE

🔗 Google Launches Business Links for Smarter Search Ad Engagement
Insights from Search Engine Land

Google Ads has introduced “Business Links,” an innovative feature designed to improve engagement by allowing search ads to address multiple customer intents through tailored link assets.

The Scoop:

Business Links Overview Business Links bring a new level of flexibility, enabling advertisers to add multiple headlines to individual ad links. This allows ads to better cater to varied user intents, expanding beyond standard site links. Powered by Google’s AI, these ads now adjust automatically with relevant headlines and optimized content, though advertisers can choose to disable AI enhancements if desired.

Key Benefits and Configuration Business Links enhance engagement by helping users navigate different aspects of their search journey directly from ads. Advertisers can create up to six Business Links per campaign, customizable with up to three headlines, a short description, and a link for each. This feature is available at the account, campaign, or ad group level, making it adaptable for various campaign goals.

Managing and Tracking Links Performance for Business Links can be tracked under the Assets > Associations tab in Google Ads, where advertisers can access insights on approval and track link origins. Links can also be paused or adjusted as needed, offering a flexible approach to ad management.

Implementation Tips and Future Potential Google advises creating multiple headlines and activating AI enhancements for optimized engagement and relevance. Currently in testing, Business Links offers a promising new tool for advertisers aiming to better connect with diverse audience segments.

Google’s pilot of Business Links demonstrates its focus on using AI to enhance customization in search ads, providing a new way for advertisers to address varied user intents. Advertisers interested in exploring this feature can reach out to their Google account representative for more information.

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🔗LinkedIn has introduced a "Lead Generation" objective for boosted posts, enhancing lead generation efforts. Users can now select this goal while boosting posts, alongside the existing reach and engagement options allowing for budget and audience targeting, and attaching lead forms to campaigns. 

🪡Meta's Threads app has grown to 275 million monthly active users (MAU), up from 200 million in August, with a notable addition of 100 million users in just three months influenced by user concerns about political content on Elon Musk’s X. If this growth continues, Threads may approach X’s 500 million MAU by mid-2025.


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