#174 HTE - TikTok Trouble: Bummer for Business? 🤯
👋 Good morning, gorgeous readers!
Today is all about conquering and slaying, and we've got just the spell book to help you do it - Almund's newsletter! From dominating the DTC world to beyond, we've got a smorgasbord of thrilling topics to sink your teeth into.
Let's get this party started! 🎉
In this edition, we'll cover the following:
💰 Tencent's Online Ad Revenue Awakens from Year-Long Slumber with Epic Growth Spurt!
💻 Boost Your Website's Conversion Rate with Gander's No-Code UGC Integration
🔒 Protect Your Customers and Build Trust: Tips for Choosing the Best Privacy Tool for Your eCommerce Business
🎥 Video Bites: All Things DTC! Credit One Bank
📉 TikTok's Fate in the US: Will Businesses Take a Hit?
📕 Top Reads Of The Week
⚙️ Plenty Of Jobs Await You!
So, scroll down to THE VERY END & read up on what’s yet to come your way! 💫
Tencent's Online Ad Revenue Awakens from Year-Long Slumber with Epic Growth Spurt!
Chinese tech giant Tencent, that's who! They reported some seriously impressive quarterly revenue on Wednesday, partly thanks to their "video accounts" business.
Revenue on Point
Tencent brought in 144.95 billion yuan ($21.07 billion) in overall revenue for the quarter ended Dec. 31, beating the estimated 143.89 billion yuan predicted by FactSet. Online advertising revenue also grew by a whopping 15% to 24.7 billion yuan, beating out FactSet's estimate of 22.18 billion yuan. Looks like someone's got their finger on the pulse!
Video Accounts Are Where It's At
So, what's Tencent's secret weapon? Video accounts! These bad boys have nestled within the WeChat messaging and social media app, allowing individuals and businesses to share short videos and live streams on the platform. With the average monthly users of WeChat in China and overseas rising by 3.5% from a year ago to 1.31 billion accounts in the fourth quarter, it's clear that video accounts are where it's at.
The cherry on top? In-feed ads for video accounts generated over 1 billion yuan in revenue in the fourth quarter alone. That's some serious moolah! Tencent said user time spent on video accounts was more than 1.2 times that spent on WeChat Moments, similar to Facebook's News Feed. James Lee, U.S. and China internet analyst at Mizuho Securities, said that this advertising unit allowed Tencent to "unlock revenue coming from e-commerce, which has done pretty well."
It seems like Tencent's shareholders are happy with the news, as shares of Tencent in Hong Kong were trading 5% higher on Thursday, at HK$366.40. We can practically hear the cha-ching!
Boost Your Website's Conversion Rate with Gander's No-Code UGC Integration
Is the conversion rate on your website too low? Meet Gander: Through a no-code install, Gander can embed UGC onto your site and help increase your CVR by 15 - 40%. Wanna see how it works? Just click here.
Protect Your Customers and Build Trust: Tips for Choosing the Best Privacy Tool for Your eCommerce Business
Privacy is a top priority for any eCommerce business looking to build trust with their customers. That's why it's important to choose the best privacy tool for your business needs. Here are some tips to help you find the perfect fit:
Tip 1: No-Code API Integration
Who needs a tech whiz when you can have a privacy tool that offers no-code API integrations? This way, you can easily connect to data sources and manage customer data without needing any technical expertise.
No more headaches or long hours spent trying to figure out complicated integrations.
Tip 2: Emphasis on Automation
A great privacy tool should make data privacy rights management a breeze. Look for a tool that can automate the process of changing, deleting, or anonymizing customer data, without adding any extra work for your team.
Plus, it should also be able to provide easy-to-read reports so you can show compliance and ace that next audit.
Tip 3: Data Security
Customers expect their data to be treated with the utmost care and security. That's why choosing a privacy tool prioritizes data security is crucial.
A reliable privacy tool will help you protect your customers' data and make it easier to share your security measures and privacy processes with them. With consent management and a single platform for data management, your customers can trust that their information is in good hands.
Remember, choosing the right privacy tool is crucial for building trust with your customers and ensuring the success of your eCommerce business. So, follow these tips and find the perfect fit for your needs!
Video Bites: All Things DTC! Credit One Bank
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TikTok's Fate in the US: Will Businesses Take a Hit?
Ban Could Benefit Social Media Rivals💰 TikTok's possible ban could be a gift to its beleaguered rivals in the digital ad market. Platforms like Facebook, Instagram, YouTube, and Snapchat could be "huge beneficiaries" of a TikTok ban, according to Needham analyst Laura Martin.😎
👨👩👧👦TikTok's Popularity with Teenagers Drives Digital Advertising Market📈 Two-thirds of U.S. teens use TikTok, making it a major player in the global digital advertising market. While it controls only about 2.3% of the market, it's still a major force to be reckoned with.😲
📈TikTok's Rapid Growth Leaves Other Platforms in the Dust💨 As of 2023, an estimated 834 million users access TikTok at least once per month, representing almost a fifth of all internet users worldwide. TikTok has grown rapidly in the last few years, while other platforms have struggled to keep up.🚀
📹Facebook's Reels Could Be The Big Winner🏆 Facebook's short-form video platform, Reels, is a direct competitor to TikTok and could benefit the most from a potential ban.
While Meta has yet to generate consistent revenue from Reels, the company expects the platform to be revenue-neutral by the end of 2023 or early 2024.🤞
Instagram's Reels feature and Snapchat's Spotlight tool, similar to TikTok's format, could also see a boost in usage.📈
Top Reads Of The Week
US retail sector leads corporate defaults: S&P Global
After 150 years, Bloomingdale names its first-ever chief merchant
Nike touts ‘tremendous progress’ on inventory as sales grow 14%
DSW parent undergoes layoffs as the company ‘pares back every line of spending possible’
Petco added 1M customers in 2022
IN NEED OF A JOB? WE'VE GOT PLENTY AWAITING YOU!
E-Commerce Marketing Manager - Nature's Bakery
E-commerce Architect - Aston Carter
E-Commerce Supervisor - Whole Foods Market
Senior Analyst, E-Commerce - Starcom
E-Commerce Department Lead - Kroger
CHOOSE SUCCESS below, and have a great weekend! Get that DTC business runnin’.