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Neighborhood-based social network Nextdoor is enlisting Sprinklr to help manage its sponsored posts and other marketable services.
Nextdoor is betting that the partnership -- expected to be announced on Tuesday -- will encourage more brands to bake its platform into their social strategies.
“Given our verified household identity, Nextdoor is uniquely positioned to solve location-based advertising challenges,” said Lauren Nemeth, chief revenue officer at Nextdoor.
Nemeth is referring to the fact that Nextdoor uses people’s addresses to verify where they live before letting them join community groups.
With its local focus, Nextdoor has succeeded in differentiating its service from Facebook, as well as scaling its product. Stateside, the network is now available in about 85% of all neighborhoods, while its services are accessible in roughly 200,000 neighborhoods in the U.S., U.K., Netherlands, Germany and France.
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More recently, Nextdoor has been investing more on monetization efforts. Last year, for example, it rolled out in-stream native advertising.
Thanks to those efforts, Nemeth said that Nextdoor has already generated more revenue in the first half of 2018 than it did in all of 2017.
To date, Nextdoor has now partnered with nearly 1,000 advertisers from AT&T to State Farm Insurance.
More broadly, media consumption trends appear to be working in Nextdoor’s favor. For example, Nielsen recently reported that a majority (51%) of video streamers report watching local news and using an app to access local news.
Additionally, 40% of U.S. respondents now completely or somewhat agree that it’s important to use social media sites for local information, Nielsen reported.
Second only to companies with tools related to ad quality and brand safety, social media management providers like Sprinklr are leading industry growth, according to recent analysis from Pivotal Research Group.
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August 21, 2018 at 08:26AM
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