As a publicly listed company looking to grow its revenue, Reddit is working to gain the attention of more businesses with new in-app tools including a “Trends” tab, third-party brand-safety controls via DoubleVerify and IAS and an Ask Me Anything (AMA) ad format.
Reddit Pro, the social discussion platform’s free suite of tools for brands, will soon include Trends, which allows businesses to track virtually any keyword or phrase -- “their brand name, product name, category, or even the latest viral trend” -- and see when, where, and how users are discussing the topic.
According to Reddit's announcement at the Consumer Electronics Show in Las Vegas on Tuesday, there are over 100,000 pre-programmed “smart” keywords and phrases.
The Trends tab will consider the keywords and offer brands a related visualization of Reddit conversation volume over time, a list of communities mentioning the keyword, a feed of conversations mentioning the keyword and a list of related keywords for further exploration.
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Reddit says Reddit Pro Trends has led to 12% more posts created by businesses participating in early tests, including Wayfair and the NBA.
As a conversation and news-based social platform, Reddit is exploring ways in which it can attract more businesses through branding opportunities with an authentic feel.
Ask Me Anything (AMA) sessions, which have been popular on the platform, are now being transformed into an ad format (AMA Ads), allowing businesses to promote AMA sessions directly from Reddit Ads Manager. In sparking conversation through community-directed question-and-answer initiatives, brands will now have a “Remind Me” button, and will be able to track the number of RSVPs received from the promotion.
The company says Sephora has utilized AMA Ads in early beta tests, bringing in the company's Beauty Directors to answer consumer questions about gifting, skincare routines, and makeup and skincare support.
Since going public last spring, Reddit has been focused on growth, bringing on its first vice president of ads product, and significantly expanding its ad products, including a suite of generative-AI ad creation tools, Dynamic Product Ads, and has shared plans to increase its presence in international markets like the UK, Brazil, India, and the Philippines.
Overall, Reddit had a successful fiscal year, reporting over 100 million daily active users for the first time – a 47% increase from the previous year – and 68% year-over-year growth in Q3 2024, achieving profitability.