Reddit’s tantalizing potential for marketers is well-known, but brand safety concerns and a lack of ad inventory held the social network back from becoming a real player in the booming social ad space. However, in the last year, Reddit has taken steps to roll-out new policies, debut new products, redesign their app and website, and partner with brands. Is it enough? Should we start taking Reddit seriously as an effective driver of business results?
What this means for marketers: With more monthly active users (MAUs) than both Pinterest (300 mil MAUs) and Twitter (139 mil MAUs), the appeal of Reddit is easy to understand. The more-relevant stat for marketers is the level of engagement/loyalty within the platform. Alexa reports that Reddit consistently ranks as the sixth most visited website in the U.S., with daily time spent on site at 10:14 – longer than the average time users spend on Google, YouTube, Facebook, Instagram or Twitter.
Reddit boasts over 130,000 active communities – providing a way to reach niche untapped audiences through targeting various subreddits. In fact, Reddit has data to show that a large portion of their audience isn’t even on other social platforms with 1/3 of their audience NOT on Instagram or Twitter and close to half not on Snapchat or Pinterest. 20% of their audience is not on Facebook, which is close to 7 million people.
Harmelin has found success leveraging Reddit’s new app install ads with third-party attribution options and tracking capabilities as well as positive results with the CPC units and sponsored-text ads.