According to Geoff Gates of Boathouse, the platform’s opportunities for market research, community engagement, and amplified reach make it a worthy player.
Few social platforms are met with as much unreasoned trepidation as Reddit. After a strong IPO, Reddit has continued to overdeliver, reporting a 48% increase in revenue in its first quarter of public trading. The platform boasts 73.1 million daily active users (DAUs) and over 100,000 active subreddits. This highly engaged audience isn’t afraid to express opinions.
So, where does the fear of activating on Reddit come from? Why are so many marketers missing out on what it has to offer? I’d argue it’s as simple as a lack of knowledge of the opportunities it presents to those looking in the right places.
Here are some potential benefits of being on Reddit, along with various ways you can use it to help your company or your clients.
The Opportunities
Community engagement
The community may be small, but it sure is mighty. Reddit users post an average of 1.2 million posts daily; they’re an active group. Reddit is fertile ground for building relationships with people. But check your brand hat at the door. They also sniff out advertising a mile away. Come in with a genuine viewpoint or advice—don’t hit them over the head with a sell.
Also Read: AI Revolution: How Businesses are Leveraging it for Success
Amplified reach
Reddit has 267.5 million weekly active users, about half of what X reports monthly. The audience on Reddit is greedy, creating and consuming content as much as or more than audiences on other platforms. When content resonates, the up-voting system takes over and can thrust content into more and more feeds. But before you post, research and learn what people on the platform are already discussing.
Market research
While Reddit did suffer its own API gate, as of today, third-party platforms can still access its API. This means that the platform can be scanned by social listening tools, which I think is one of the most valuable things you can do with Reddit. Look no further if you’re wondering what’s being discussed in a particular industry. Reddit is fantastic for gleaning industry insights and opinions that may help form your content or product strategy. Scans can be used in upfront research or consistently to get a feel for what people are discussing.
Feedback and innovation
Listen and innovate. Reddit users post their feelings and experiences with products and services frequently, and some of what they say can be beneficial for you to hear. Take into account their feedback where it makes sense. You wouldn’t ignore a customer if they came into a brick-and-mortar to chat, would you?
Partnerships
There are plenty of well-established presences on Reddit. To get your business off the ground on the platform, explore partnering with someone with a well-established audience. Having the backing of a trusted source will do wonders.
Levels of Reddit use
Still unsure what to do with all of this? I recommend choosing one of three levels of Reddit use: the creator, the engager, or the listener.
The creator
This approach actively creates content for Reddit. It will require the most work, resources, and knowledge but has the potential to bring you the most value. Create your channel and begin to post, but don’t forget to engage with community members and subreddits. If you’re not ready to be less “brand,” or you’re not ready to dedicate some creative resources to it, this option may not be best for you.
The engager
This approach doesn’t create content in the way we typically think of content, but engaging with users is nonetheless a form of content creation. This approach will have you living in subreddits and becoming an active member with a POV, the ultimate goal of which is to add value to Reddit users.
This is the perfect in-between approach for companies that want to have a presence while not having to dedicate as many resources to content creation.
Also Read: Hyper-targeting: The Secret Weapon for Laser-Focused Marketing
The listener
Companies can extract a ton of value simply by listening. Reddit is full of relevant, enlightening conversations, some of which may be about your company. Plenty of third-party tools are available that can assist in scanning Reddit, making the process of finding what you’re looking for even simpler.
Reddit is a hidden gem that deserves your time and attention — how much of each is up to you. Like all other social platforms, the best way to learn the ins and outs is to get in there and play around.