Social Media News Round-Up: 04/02/22
THIS WEEK’S SOCIAL MEDIA MARKETING NEWS AT A GLANCE:
Scroll down to read the full news stories
📉 Meta’s stock drops
🤳 Instagram tests new call options
⏬ Twitter expands downvote testing
🛋Pinterest adds new AR tools
Meta’s stock drops
Following a plateau in Facebook users for the first time in the history of the app, parent company Meta’s stock dropped on Thursday by 26%, losing $251.3 billion in market value.
‘That’s the biggest wipeout in market value for any U.S. company ever.’ Bloomberg writes.
Image Source: Bloomberg News
In the face of growing ‘unprecedented’ user competition from video based app TikTok, these developments beg the question: is Facebook losing its relevance on the social media market?
Responding to the downturn Mark Zuckerberg stated in a virtual company meeting the importance of focusing on Facebook’s new short video product.
This week Meta also launched improved 3D avatars for Facebook and Messenger and expanded their use onto Instagram, where users can now incorporate their custom avatars in Stories and Direct Messages.
Image Source: Social Media Today
Image Source: Social Media Today
Image Source: Social Media Today
Instagram tests new call options
Instagram has been seen testing new call options this week. The options include business accounts being able to use audio calls on the app and all users being able to leave a message if they’re unable to answer an audio or video call.
Twitter expands downvote testing
Twitter started testing reply downvoting for users in ** and this week expanded the test worldwide. In a tweet the platform explained that the downvotes weren’t public and that the app is using the test to understand the types of replies that users find relevant.
The move to global testing is a promising sign that Twitter will eventually introduce the downvoting function, enhancing users’ interactions on the app in a potentially more positive way.
Pinterest adds new AR tools
A new ‘AR Try On for Home Décor’ was introduced on Pinterest this week and allows users to virtually place potential furniture purchases in their homes. The feature also allows people to adjust the product within the camera view and see how well it fits within a space.
The app said in a statement:
‘This is our latest step in bringing together the worlds of augmented reality and shopping on Pinterest as people seek more immersive online experiences that help them make purchase decisions from the comfort of their home. Try On for Home Decor makes it possible to envision home decor and furniture items in your home and “try before you buy” from premier launch partners.’
Image Source: Social Media Today
Recently the platform also tested new Idea Pin highlights, which would allow users to showcase their best Idea Pins above existing content tabs rather than under the ‘Created’ tab in chronological order.
