The following is a transcription of the Tailwind Flash Briefing published April 28, 2019. To listen activate through the Amazon Alexa Skill store.
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Tailwind Digital Minute Flash Briefing for April 28, 2019
From Tailwind in Tempe, Arizona, it's the week of April 28, 2019 and this is your Digital Minute. I'm Leslie DeMent.
Instagram Testing Like Hiding
Your favorite picture posting app may be seeing some slight tweaks in the future. Instagram is internally testing a new feature where Like counts across feeds are hidden to the masses, but available to the original sharer. In an effort to reduce social competition and comparison, Instagram also feels the change could encourage many users to post more authentic content. Tailwind's Bri Larkin shares her thoughts.
"Currently, in the eyes of public, a large like count signals really great content creation and reliability for the the company. Taking away this number can make it difficult for both consumers to see the reputation of the brand, as well as make it hard for the brands to compare themselves to other competitors who are also on the platform.
If Instagram really does get rid of Like counts, it begs the question of whether or not other metrics will replace the Like count and the stigma behind it. We may see Comments, or maybe Following get more traction and gain more attention. In this case, it would be very important for brands to really continue to engage with their customers through comments, DMs, stories, and be able to present themselves as a reputable brand."
While this is only an internal prototype today, it does point to Instagram's focus on getting away from the pressures of Like counts. Only time will tell how social networks like Instagram and Facebook continue to address issues pertaining to envy, low self-image, and narcissism in the upcoming future.
Cameras Being Vetted for In-Store Advertising
In other news, it looks like traditional brick and mortar retailers are taking a tip from their younger digital counterparts and implementing martech innovations. Soon, buyers MAY be perusing store shelves housing cameras geared at identifying user sex, age, and mood as shoppers walk by. What does this mean for advertisers? Director of Search, Ryan Gudmundson, weighs in.
"I'm really excited about this type of thing. The idea of having customized ads within my in-store buying experience. And granted we're going down the path of what type of information do we want companies or businesses to ultimately have on us, but at this stage, even if they're just trying to make assumptions on who we are, it's still quite a bit more targeted than seeing ads that have no relevance to us.
I could see in the future where there might be facial recognition, there might be accounts trying to link to ours, and that maybe seems more encroaching, but the idea for traditional stores to be in this place and be just a little bit more correlated to their end users is really intriguing."
.. and while demographic correlated advertising isn't new by any means, for traditional retail stores, it is. So, the next time you're checking out at your local Frys or Safeway, and you're feeling a bit tired, don't be surprised if that ad for a RedBull or Starbucks Doubleshot pops up right in the nick of time.
Slack Announces an IPO of Their Own
Finally, in financial news, while it seemed like Zoom and Pinterest only went public with their IPOs last week, which they did, Slack Technologies, the organization behind our favorite instant messaging platform, has posted documents with the SEC on Friday in an IPO of their own.
After hitting the 10 million daily user mark this year, the company will be looking at ways to maximize efficiency and revenue growth while keeping overall costs down. With over 80% of Slack's 600,000 organizations still utilizing the free version of the service, the company already has started seeing improved financial performance. Growing from approximately $105 million to $400 million in total revenue over a 36 month period, Slack's inevitable course to profitability will now have assistance in the form of this year's potential IPO.
At the end of the day, don't be alarmed if additional cost tiers make their way into Slack's pricing model, especially at price points geared for smaller teams or groups. We'll be watching this as well as the other tech IPOs closely this year here at Tailwind.
Well that about covers it for this weeks edition of the Digital Minute. To learn more about some of the topics we've covered today, join us over at FindYourTailwind.com/blog for a full transcription of the Digital Minute as well as links to further resources and information. Until next week, I'm Leslie DeMent.
Be sure to check out last weeks edition of the Digital Minute.