And this week on my podcast, we’re talking about fragmentation, consolidation, and advertising. Let’s get into the digital marketing news.
Have you heard of super-apps? In China, everyone uses a super-app called WeChat that you may or may not have heard of. It’s called a “super-app” because people use it for everything: from talking to friends and family, to paying for items on the street, to ordering food and groceries, to paying rent. It’s the one app that does it all.
If an app works this well in the East, would a super-app that provides this level of consolidation work here in the West?
In the West, VCs invest in a variety of different apps. But the market is so fragmented that I don’t know if it would work for us.
On the other hand, Amazon Prime is already consolidated. With Prime, you not only get discounts on online shopping, but you also receive free music and video streaming. Additionally, Amazon has a cloud-based photo app that backs up your photos for free.
WeChat may work so well in China because in that country, most people’s first contact with the internet is through their mobile device.
Speaking of consolidation, Google and Facebook are the two biggest ad platforms. And, as a result of their stranglehold on the market, they’re getting hit with antitrust and privacy lawsuits. A lot of ad inventory belongs to them. So that’s why Facebook, Amazon, and Google also are always under scrutiny.
Pinterest’s revenues hit $400 million for Q4 of 2019, growing 46 percent year-over-year.
While their U.S. monthly active users (MAUs) increased 8 percent to 88 million, Pinterest’s global MAUs increased 26 percent year-over-year to 335 million.
Pinterest went public in April 2019, their biggest year yet. They crossed the 1-billion-dollar revenue benchmark.
Does anyone use Pinterest? If so, please reply and let me know. I don’t use it personally. But if you’re a B2C industry, and you use imagery to sell your product, such as jewelry or home remodeling, I can see Pinterest as a viable platform.
Interested in more digital marketing knowledge? Check out this customer journey e-book.