What Happened in October – Viral Octopus Monthly Marketing Insights

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Fresh news for CMOs - Handpicked by our experts

Our Viral Octopus experts, Pietro, Silvia, and Adele have been in the thick of another busy news month, and despite having TONS of news to choose from, they’ve whittled it down to the nuggets that matter most. With eCommerce continuing to explode in popularity, so are the ad offerings by social media platforms and online advertising services. However, the beginning of a return to normal life after the pandemic is beginning to show a slight shift back to brick-and-mortar commerce. The industry is already hard at work to predict the balance between the two. Platforms are also now starting to make policy changes to address online bullying, harassment, and even mental health issues. Instead of running from growing issues, many platforms are attempting to face it head-on. By far, the biggest news this month comes from Facebook. The company has announced a name change to realign itself with its vision of an online world, or metaverse, where we all work, communicate, and play in a digital space. Let’s get into the fresh news for October. This is what our experts think CMOs need to know from the past month.  

# 1 Facebook

The big news this month has come from our favorite social media heavyweight – Facebook. The platform has seemed to be in the headlines the entire month. In an effort to amalgamate its different arms under a single, united title, and to reinforce its dedication to the so-called Metaverse, Facebook has changed its name to Meta. The company’s apps, Facebook, Instagram, and WhatsApp, will retain their names. Facebook has also made a few key policy changes this month. The platform has made changes to its harassment and bullying policies in an effort to protect people facing online abuse. For the purposes of ad metrics, Facebook has also changed the way it counts users. Previously, if a Facebook and an Instagram account were linked, they were considered to be one person. Now, each account will represent an individual. Towards the beginning of the month, Facebook also experienced some negative backlash because of a whistleblower who accused the platform of subverting democracy and putting its own profits ahead of public safety. The very next day, Facebook suffered its largest outage ever, as a faulty configuration change to its backbone routers caused a massive, worldwide outage that affected users, businesses, and advertisers alike.  

#2 Twitter adds new features and ad types, and improve video quality

Twitter is playing with two new ad types to accommodate the rapidly expanding online ad industry. Carousel ads will now have multi-destination functionality. Advertisers will be able to diversify their messages by using unique headlines and URLs on each carousel card so that users can engage with multiple images or videos and click through to different destinations. Twitter is also testing a new ad format in Tweet conversations where ads will be served after the first, third, or eighth reply under a Tweet. The feature may allow for new monetization options on Twitter, as creators of viral Tweets could partake in the revenue generated by ads placed on the Tweets. Twitter has announced quite a few changes over the past month. Users will now be able to remove someone from their followers list without blocking them entirely. Called a ‘soft block’, removed users will still be able to DM and will be able to re-follow an account unless they’re blocked. Twitter has begun a broad rollout of its Spaces tab in an effort to help improve Spaces discovery. The new Spaces tab is being rolled out to English users on iOS, with Android to follow. The platform is also finally improving the quality of video uploads to create a better experience for all users. The update will only affect new uploads, however, not previously uploaded videos.  

#3 Connected TV (CTV) is the fastest-growing advertising platform

CTV is now the fastest-growing advertising medium. A survey by Leichtman Research Group says that over 80% of TV households have at least one CTV, a higher penetration rate than cable TV. It also found that 39% of adults watch streaming video content daily and 60% watch weekly. Young adults are the heaviest viewers of CTV. Even as broadband connections plateau, more ad dollars are being spent on CTV. With that in mind, YouTube is expanding its video action campaigns, Google’s interactive ad types for video, to include CTVs with the goal of making YouTube ads more shoppable. Viewers who see a video action campaign on their TV will be invited to continue shopping through a URL displayed at the bottom of the screen. Users will be able to shop without interrupting their viewing sessions.  

#4 YouTube and Google cut off ad money for climate change deniers

Google is putting its foot down on climate change deniers. Google has announced a new monetization policy for advertisers on its platform that will prohibit ads for, and monetization of, content that contradicts well-established scientific consensus around the existence and causes of climate change. The company will use a mix of automated tools and human reviews to enforce the policy. Banned content includes references to climate change as a hoax, and claims denying global warming and greenhouse gases.   You have more important things to do than filter through thousands of news sources to find the information that really matters. Let Pietro, Silvia, and Adele do the leg work for you! Why should you trust our experts? Simple – their diverse backgrounds, interests, and international locations leave them perfectly placed to monitor the industry from all possible angles. Subscribe to our Viral Octopus CMO Daily News Feed and we’ll deliver their fresh, hand-picked news, summarized in bite-sized chunks, every day of the workweek, completely for free. Start your workday off right. Start it with the Viral Octopus CMO Daily News Feed. Click here to subscribe. Let us know what you think of our CMO Daily News Feed. Have suggestions to make it better? Let us know and help us grow. From every arm of the Viral Octopus team – thanks for trusting us as your source for fresh CMO news. See you on the feed! Your Viral Octopus Team.

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