Earlier this year, Tinder rolled out a campaign with Budweiser allowing users to swipe left or right to see a video and opt in for the beer brand’s #upforwhatever campaign. The collaboration, however, was a rarity and largely experimental.
However Rad, speaking at the Web Summit in Dublin today (4 November) said this will soon change and Tinder will up its work with brands.
“If done right advertising can add amazing value to Tinder and we’ve only really scratched the surface of its potential,” he told delegates.
“Our ad business is still in its infancy but we are experimenting and creating a bigger team as we get more serious. There will be a major push on our advertising business next year but when we work with brands we want to ensure that their advertising doesn’t take away from the delight of the user’s Tinder experience. It must be authentic.”
His comments echo Tinder’s VP of advertising Brian Nogard, who said earlier this year that while its ‘like’ and ‘pass’ system offers an “amazing signal” for advertisers it must balance that with the consumer experience.
Rad also spoke about Tinder’s growth revealing that it now generates 1.5 million dates per week. To date it has produced 9 billion matches and now sees 1.8 billion swipes per day.
“We’re bringing the world closer together and no other social platform has been able to do that to our scale,” Rad claimed.
He explained that Tinder will soon roll out “huge changes” to its algorithms in a bid to create “more meaningful connections” and also gave his thoughts on social media platforms trying to replicate the Tinder model
““Everyone wants to be the next Tinder but that is a bad business model, brands must think for themselves.”
Facebook on keeping brands secure
Facebook’s chief security officer Alex Stamos said the social media giant was making moves to ensure brands are better protected from hackers.
Facebook now operates a system called Threat Exchange and has 130 big businesses signed up.
Stamos explained: “If say one brand is exposed to malware we then upload it to Threat Exchange and it ensures that 130 other brands are instantly protected from exposure to the same hacker or virus,” he explained.
“We want this to become the standard tool for security and protecting against leaks. In 2009, 35 major companies were all hacked by the same malware at once due to Operation Aurora, so initiatives like Exchange can stop that from happening again.”
And after high profile hacks on personal information at the likes of Sony and TalkTalk, Stamos believes brands must move past the password model.
“Passwords have to go. It’s a paradigm that came out of the 1970s that makes no sense in 2015 and there are now safer ways to authenticate such as through touch.
“But it won’t happen over night and we will need to make mistakes before we learn how to change things completely.”
Insisting that Facebook does not give any “secret backdoor access” to governments on its user’s personal data, Stamos also revealed what he considers to be the biggest single threat to security.
“My biggest concern is mobile devices. Android, for example, has been a huge success in generating creativity on smartphones but hundreds of millions of its devices have subsequently never been patched and are vulnerable to bugs. An unpatched mobile device is the biggest threat for consumers right now.”
Brands should embrace VR video
With virtual reality devices such as Oculus Rift and Playstation VR set to launch to consumers in 2016, Nick DiCarlo, VP of virtual reality at Samsung America, urged brands to embrace video on the devices.
“People spend more than 150 hours per month watching video and VR can make the experience more immersive than ever before as nothing else can offer 360, spherical video,” he said during his presentation on the content stage.
He said it “won’t be easy” to convince people to buy devices they strap to their face from an aesthetic standpoint but urged brands to take themselves away from the YouTube mentality when exploring VR video.
“You won’t get the same value from VR as YouTube as it isn’t about money linked to clickthroughs or autoplays.
“You have to remind brands that somebody is watching your content for four minutes and is truly engaged – marketers have to change their mindset or their VR video will not be authentic.”