Meta's ad business on the rise again

Hey 👋

Pipe Rise - where learning about tech and performance marketing is a laugh-a-minute experience.

In Today's Email:

1. Meta's ad business on the rise again

2. Biden's letter to the Wall Street Journal: A love letter to tech reform

3. TikTok introduces Talent Manager Portal: The matchmaker for brands and creators

WHAT SMART PEOPLE ARE TALKING ABOUT TODAY 👀

#1 - Meta's ad business on the rise again

Meta, the social media giant, is in a bit of a pickle. You see, Apple went and changed the rules of the game with their privacy update and Meta lost a whopping $10 billion in ad revenue last year. Ouch.

But Meta being Meta, they weren't going to take this lying down. They decided to invest in AI and turn their ad business around. And it looks like it's working! Advertisers are saying that the AI-powered measurements and features are so enticing, they're planning to spend more on the platform this year.

Andrew Foxwell, co-founder of Foxwell Digital, said that advertisers moved 20% to 30% of their Meta budgets to test TikTok a couple of years ago, but now they're moving that money back to Meta. Why? Because Meta's ad products have gotten way better. Foxwell said, "There's still no other channel that exists with the volume as Meta in reference to bringing in new customers."

So, Meta's been using AI to show advertisers that people actually take action, like buying a product or visiting a website, after seeing an ad on their platforms. And it's paying off! They reintroduced a metric called 28-day attribution windows and a feature called Advantage+ that uses Meta's AI to find relevant audiences for ads.

But don't get too excited yet, Meta still has some challenges to face, particularly with their core Facebook property which looks set to drop in ad revenue this year to $72.4 billion according to analysts. But with all the money they're pouring into AI, we're sure they'll figure out how to stay at the top of the game.

#2 - Biden's letter to the Wall Street Journal: A love letter to tech reform

President Joe "Big Tech Buster" Biden recently wrote a letter to the Wall Street Journal, giving the tech giants a piece of his mind.

He starts off by thanking them for their hard work, but then goes on to say that he's not too happy with their shenanigans.

He's concerned about how they're using our personal information for their gain, making things worse for certain groups of people, and making it hard for new companies to compete.

He wants the government to step in and give these tech giants a good old-fashioned spanking by making new rules about privacy, making sure they're responsible for protecting our personal information, promoting fair competition, and giving new companies a chance to shine. He also mentions that this isn't the first time people have talked about these issues, but he hopes that this time they'll finally shape up and stop messing around.

So tech giants, you better shape up or you'll be getting a trip to the principle's office.

#3 - TikTok introduces Talent Manager Portal: The matchmaker for brands and creators

Are you a brand looking for the perfect TikTok creator to elevate your campaign? Look no further, because TikTok is introducing a new service that will make it easier for you to work with its "megastar" creators. Introducing the Talent Manager Portal, a new addition to the TikTok Creator Marketplace, where brands and agencies can connect with 800,000 qualified creators around the world.

This new service is like a matchmaker for creators and brands, but instead of swiping right, talent managers can log in with creator authorization to manage deal flow, negotiate contracts, and handle the creative feedback on behalf of their talent.

Think of it like having a personal agent, but instead of Hollywood, it's for the TikTok-verse. This way, even TikTok stars like the D’Amelio sisters, who have become famous for their videos, can have their reps handle the brand inquiries and negotiate deals for them.

The Talent Manager Portal is currently in alpha testing and already has several agencies signed up. TikTok notes that the talent managers will have access only to their client’s Marketplace accounts not the creators’ actual TikTok accounts, so don't worry about your personal data being shared.

In conclusion, TikTok has once again raised the bar for creator monetization and made it easier for brands to find the perfect creator for their campaigns. So, brands, go forth and find your TikTok-ing soulmate, and creators, sit back and let your talent manager do the heavy lifting.

CHUCKLE OF THE DAY 😂

President Joe "Big Tech Buster" Biden is coming for you guys

Another day another Pipe Rise. That's a wrap for this week. Catch ya'll next week 🤞