The way companies communicate with their customers is changing drastically, and Facebook’s head of Messenger says his company’s app creates a space for them to have a better dialogue. David Marcus joined Cheddar CEO Jon Steinberg from the WPP Stream conference in Ojai, California Friday. He points out that no one ever seems to call companies anymore. Not only is the process tedious, he says, but it’s not the way clients prefer to communicate. Marcus thinks Messenger is a more viable and effective option than even traditional texting. This push for consumers and companies to communicate via Messenger, which was created in 2011, comes at a time where communication apps are on the rise. Data research firm Statista projects that by 2019 2.19 billion people will be using mobile phone messaging. Marcus said in September that Facebook Messenger had 1.3 billion active users every month. The company’s other product, WhatsApp, has over 1 billion daily users on the platform. According to Statista, WhatsApp is the most popular option worldwide, and Messenger ranks #3. Marcus argued that the number of people choosing to communicate via Messenger continues to increase. “As a result [the app] becomes a great platform for businesses as well,” he said. He points to a survey Facebook conducted found that over 64 percent of people across demographics would prefer to communicate with a brand via a platform like Messenger. But there is a generational difference. A study by Goldman Sachs found that 34 percent of millennials like a brand more when it uses social media, but that number drops to 16 percent in individuals over 36. Facebook has sought to monetize Messenger through advertising. “We have ‘Click to Messenger’ ads … you can buy ads that direct people to opening more conversations with your brands inside of Messenger.” Integrating a system where brands and consumers can increase communication is reminiscent of Facebook’s active advertisement strategy. The tech behemoth one of the two dominant players in the advertising industry -- the other being Google. It rules display advertising with a projected market share of 39 percent this year and revenues at $16.33 billion, according to eMarketer.

Share:
More In Business
Stocks Close Lower, Treasury Yields Hit Pre-Pandemic Highs
Stocks closed lower Tuesday with investors initiating a broad sell-off, leading the Dow to have its worst day of 2022 so far as it had its biggest decline since November. Investors are eyeing treasury yields, which have surged to pre-pandemic highs, as well as looking ahead to the Federal Reserve's path forward when it comes to raising interest rates. Meanwhile, as earnings season kicks off, Goldman Sachs shares are under pressure after a lackluster earnings report. Goldman is weighing on bank stocks as a whole. Jeff Buchbinder, Equity Strategist for LPL Financial, joins Cheddar News' Closing Bell to discuss today's close, why treasury yields are ticking higher toward pre-pandemic levels, big bank earnings reports, and more.
Crypto Expert Sees Price of Bitcoin Eventually Reaching $100,000
Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, joins Cheddar News' Closing Bell, where he says he believes we'll eventually see Bitcoin reach the $100,000 mark despite its recent struggles, and explains why Bitcoin will be less volatile than the Nasdaq.
Strella Biotechnology Uses Sensors to Interpret Shelf Life of Produce, Monitor About 15% of U.S. Apples
Food waste is a major contributor to greenhouse gas emissions in the United States. Strella Biotechnology is trying to solve the problem by introducing new technology to a business that's been around for generations -- farming. The 24-year-old CEO created hi-tech sensors that interpret the shelf life of produce and alert farmers when fruits and vegetables are ready to be sent to supermarkets. The company says the process can help farmers make money, reduce food waste and increase the quality of produce. Strella Biotechnology's co-founder and CEO Katherine Sizov and co-founder and COO Jay Jordan joined Cheddar Climate to discuss.
Research Shows Financial Institutions Weakening Fight Against Climate Change
Adele Shraiman, Campaign Representative for the Sierra Club’s Fossil Free Finance Campaign, joins Cheddar Climate, where she explains how Wall Street and climate change are related. She also elaborates on how decisions made by financial institutions are actually hurting the ability to reduce carbon emissions.
Breaking Down the 5G Deployment Disconnect Between Airlines and Telecoms
Hugh Odom, founder and president of Vertical Consultants, shared his expertise on telecommunications with Cheddar on the safety issue raised about 5G deployment by airlines. The installation was partially delayed again on Tuesday as the airlines warned of potentially catastrophic delays in a letter to the Biden administration. Later, both Verizon and AT&T relented and put a pause on some of the implementations. "The first thing the Biden administration needs to do is get everybody in the room and say, look, aviation industry, identify the problem — wireless industry, come up with a solution," said Odom.
Microsoft Acquisition of Activision a Step Towards Leading on the Metaverse
Microsoft announced on Tuesday it's acquiring video game publisher Activision Blizzard for nearly $70 billion in cash, a company that's is known for big titles like "Call of Duty" and "World of Warcraft." Lyron Bentovim, Glimpse Group president and CEO, and Dan Ives, managing director and senior equity research analyst at Wedbush, sat down to talk about what Ives called "a shot across the bow" towards the competition. "This is pretty exciting for the industry as a whole because another one of the big players is coming to the metaverse," said Bentovim. "Microsoft using metaverse in the quote from their CEO in their press release shows the importance of this deal."
What Netflix Investors Should Look for as Streaming Competition Grows
Netflix may not be staying at the top of the streaming wars, according to some wary investors, as competition heats up and it raises prices yet again. Tuna Amobi, director and senior equity analyst at CFRA Research, spoke with Cheddar about what investors should be considering should they stick with the streaming pioneer or drop the investment. "I think it's always mostly about the subscriber growth for the Q4, which is going to be an indicator of how the company has been navigating the speed bumps that we saw early in the year," said Amobi.
L’Oréal Leans Into High-Tech Innovations for Home Hair Coloring
L’Oréal is doubling down on its investment in tech. The French beauty giant unveiled two new high-tech products ahead of CES 2022, aimed at simplifying the hair coloring process. Guive Balooch, global vice president of L’Oréal Technology Incubator, joined Cheddar's Opening Bell to discuss the company's innovations for hair coloring, including the Colorsonic application device and the Coloright AI diagnostic tool.
Load More