Social network Reddit announced today that it’s raised $300 million from investors and boasts a $3 billion valuation. (Not to brag, but we saw this coming way back in 2015, when Scott Galloway pegged the platform as a Winner…)
Less familiar to advertisers than Facebook or Instagram, Reddit has 330 million monthly active users, who share posts in various category-focused forums called “subreddits.” Crucially for marketers, half of those users are in the elusive 18-24 demographic.
Here’s what your brand should know about this up-and-comer:
Don’t underestimate Reddit’s ability to drive traffic… Last June, 70% of Domino’s social referral traffic came from one viral Reddit post. After the brand launched the Paving for Pizza program, which let citizens nominate a pothole in their town for Domino’s to repair for free, an image containing the “Oh Yes We Did” slogan on newly laid pavement appeared on Reddit, where it garnered over 120,000 upvotes and 4,000 comments.
…especially for brands targeting male consumers. Unlike womenswear shoppers, who tend to use Pinterest, men often frequent Reddit’s “Male Fashion Advice” subreddit, where questions range from “Shorts tips for skinny calves?” to “Is it acceptable to have a shirt longer than your down jacket?” Menswear brands in Gartner L2’s report gain nearly 20% of desktop social referral traffic from Reddit, reflecting both the rich array of content and the site’s primarily male user base.
It’s also good for brands that don’t lend themselves to visual content. While the bulk of Redditors may be male, beauty brands have found plenty of opportunities on the platform. In particular, skincare labels have seen success through the popular SkincareAddiction subreddit, where users ask questions about products, describe their routines, and confide worries about various skin problems like acne and eczema. Last year, 6% of desktop traffic to skincare brand CeraVe’s site came from Reddit.
Individuals can also use the forums to promote their personal brands. Reddit’s “Ask Me Anything” feature is a Q&A that lets individuals (often celebrities) tap into an involved fan base. At least, it worked for Scott.