This Week In Digital Advertising
Facebook Shares Cryptocurrency Plans
Facebook announced on Tuesday a new subsidiary called Calibra which provides financial services. The first product Calibra will introduce is a digital wallet for Libra, a new global currency powered by blockchain technology.
The idea is to make transferring money as easy as sending a message on Facebook. Calibra will allow users to send Libra to anyone with a smartphone. For many people financial services are hard to come by. The company is looking to tackle this challenge with Libra. Facebook also said they hope to add more features in the future such as billing payments or even getting a cup of coffee with Libra.
Even though they struggle with the handling of user data and have seen backlash about possible antitrust law violations the company wants to bring cryptocurrency to the mainstream.
Facebook says they will be working with experts to ensure the product is safe and private. They will use the same verification and anti-fraud processes used by banks and credit cards, along with automated systems to monitor activity and detect fraud.
Facebook has 2.7 billion users which could help with user adoption and acceptance overall. The company is looking to create a marketplace for small business as well, in the hopes that they will spend more on advertising on the platform in the future.
The wallet will be available in WhatsApp, Messenger, and a standalone app. Timeline for release is 2020, as they continue development. Having wide availability will help bridge the gap and make cryptocurrency not as intimidating for active Facebook users.
LinkedIn Announces Video Messaging, Photo Tagging, and other features
LinkedIn has added several new features. The social media platform continues to evolve with these changes in an effort to keep engagement numbers up. Microsoft has reported the platform has seen “record numbers” in engagement this year. LinkedIn has outlined some of the new features.
A photo-tagging feature has been launched to all users. In a blog post, the company outlined states “The world seems smaller and your community a little tighter when you let people know who is who.” Now when you see an image of a co-worker or someone you recognize, you can tag them in the image.
There is also a new feature that allows users to record video clips and send them in a message. “Millions of members have posted videos and shared them with their connections or in groups: sharing ideas, experiences, or simply a view into their working life. Now you can do the same in messaging, too.”
LinkedIn will keep messaging and posting availability within that app. This will keep things more organized and allow users to better manage profiles.
By clicking on your profile picture on mobile and on the right side of the feed on a desktop users can see hashtags they follow and view all groups they are apart of.
As LinkedIn continue to add more features to build engagement we will continue watching how this affects user interaction with ads on the platform. Video especially will continue to gain traction and continue to drive users.
