1 00:00:03,990 --> 00:00:07,020 Speaker 1: Welcome to the FEAR & GREED Business interview. I'm Sean Aylmer. 2 00:00:07,110 --> 00:00:11,039 Speaker 1: When we talk about social media, it's usually about Facebook, 3 00:00:11,039 --> 00:00:15,569 Speaker 1: Insta, TikTok, X, the household names of the sector, but 4 00:00:15,570 --> 00:00:18,989 Speaker 1: there are other very big, very powerful players out. There's 5 00:00:18,989 --> 00:00:22,050 Speaker 1: some with hundreds of millions of active users that have 6 00:00:22,050 --> 00:00:25,290 Speaker 1: been around just as long and in some cases, even 7 00:00:25,290 --> 00:00:29,160 Speaker 1: longer. One of those is Reddit, R- E-D- D- I- 8 00:00:29,160 --> 00:00:32,070 Speaker 1: T, Reddit. Today, I wanted to learn more about the 9 00:00:32,070 --> 00:00:34,919 Speaker 1: platform, how it works, who uses it, and how businesses 10 00:00:34,949 --> 00:00:37,770 Speaker 1: are engaging with it. Yvonne Quinn is the head of 11 00:00:37,770 --> 00:00:41,430 Speaker 1: Business Marketing, Europe and Australia for Reddit. Yvonne, welcome to 12 00:00:41,430 --> 00:00:42,090 Speaker 1: FEAR & GREED. 13 00:00:42,570 --> 00:00:43,740 Speaker 2: Thanks, Sean. It's so great to be here. 14 00:00:44,790 --> 00:00:47,759 Speaker 1: We love Reddit at FEAR & GREED because if any of 15 00:00:47,759 --> 00:00:50,639 Speaker 1: our shows or stories end up on Reddit, it is 16 00:00:50,639 --> 00:00:54,510 Speaker 1: amazing the audience, it attracts, but for many people, they 17 00:00:54,510 --> 00:00:56,400 Speaker 1: probably don't know Reddit like they know some of those 18 00:00:56,400 --> 00:00:59,610 Speaker 1: other social media platforms. Give me a 101 on Reddit. 19 00:00:59,760 --> 00:01:01,620 Speaker 1: It's about individual communities, isn't it? 20 00:01:02,490 --> 00:01:06,209 Speaker 2: It really is. I think the best way to encapsulate 21 00:01:06,209 --> 00:01:09,359 Speaker 2: Reddit is the home of community. So it's a place 22 00:01:09,360 --> 00:01:13,438 Speaker 2: where people go to find people just like themselves, connected 23 00:01:13,438 --> 00:01:17,250 Speaker 2: by interests, and a place where people can be completely 24 00:01:17,250 --> 00:01:21,119 Speaker 2: connected to similar things and shared a really on- date 25 00:01:21,120 --> 00:01:24,210 Speaker 2: experience online that's different like anywhere else on the internet. 26 00:01:25,469 --> 00:01:27,870 Speaker 1: Some of the topics, I mean, I was browsing it 27 00:01:27,870 --> 00:01:33,120 Speaker 1: before this interview, and it's from house explosions in the 28 00:01:33,120 --> 00:01:38,250 Speaker 1: US through to sport, through to incredibly serious topics like 29 00:01:38,250 --> 00:01:42,299 Speaker 1: domestic violence and things like that. It is extremely broad, 30 00:01:42,300 --> 00:01:43,169 Speaker 1: isn't it, Yvonne? 31 00:01:43,499 --> 00:01:46,798 Speaker 2: It's so broad. The way that I love to look 32 00:01:46,799 --> 00:01:50,310 Speaker 2: at it is Reddit is almost like a representation of 33 00:01:50,310 --> 00:01:54,840 Speaker 2: humanity. There is so many different topics of discussion, whether 34 00:01:54,840 --> 00:01:58,320 Speaker 2: it is helping you make major life decisions, whether it 35 00:01:58,320 --> 00:02:01,889 Speaker 2: is helping you through crisis moments in your life, or 36 00:02:01,889 --> 00:02:04,830 Speaker 2: whether it's just helping you find a new hairdryer or 37 00:02:04,830 --> 00:02:10,350 Speaker 2: find a new skincare routine, interests across all spans of humanity. 38 00:02:10,860 --> 00:02:13,710 Speaker 1: Now, I might have this wrong but I think of 39 00:02:13,710 --> 00:02:17,309 Speaker 1: my social media platforms as very, very personal. Facebook is 40 00:02:17,309 --> 00:02:20,549 Speaker 1: about me. X is about my view on the world. 41 00:02:21,210 --> 00:02:23,820 Speaker 1: Insta is just how good- looking I am, Yvonne, those 42 00:02:23,820 --> 00:02:27,330 Speaker 1: sorts of things. Whereas Reddit, I don't know, it's less 43 00:02:27,330 --> 00:02:28,169 Speaker 1: about self, I find. 44 00:02:29,430 --> 00:02:31,230 Speaker 2: I think you're so right, and I think it's really 45 00:02:31,230 --> 00:02:35,610 Speaker 2: interesting that you view other platforms, as you say, you 46 00:02:35,610 --> 00:02:39,839 Speaker 2: view Facebook as about you. And I think that's really 47 00:02:39,839 --> 00:02:42,510 Speaker 2: interesting because the way that we like to think about 48 00:02:42,510 --> 00:02:47,790 Speaker 2: things is other social platforms is a place where you're 49 00:02:47,790 --> 00:02:52,290 Speaker 2: connected by friends or by family or people you went 50 00:02:52,290 --> 00:02:55,919 Speaker 2: to school with or just by people that you've known 51 00:02:55,919 --> 00:02:59,669 Speaker 2: in your life. So it's a representation of how you're 52 00:02:59,669 --> 00:03:03,570 Speaker 2: connected to people. But what makes Reddit really different is 53 00:03:03,570 --> 00:03:06,360 Speaker 2: Reddit tends to be a true reflection of who you 54 00:03:06,360 --> 00:03:11,010 Speaker 2: really are as a person. So for example, if you 55 00:03:11,010 --> 00:03:14,159 Speaker 2: think about your experience on other social platforms, it's where 56 00:03:14,160 --> 00:03:17,160 Speaker 2: you start to share things that happen in your life, 57 00:03:17,609 --> 00:03:19,889 Speaker 2: and it's where you connect with people that are in 58 00:03:19,889 --> 00:03:23,639 Speaker 2: your life. So you can post something on Instagram and you 59 00:03:23,639 --> 00:03:26,518 Speaker 2: can have your colleagues or your coworkers or your families 60 00:03:26,520 --> 00:03:29,758 Speaker 2: react to it. But is that a true representation of who 61 00:03:29,758 --> 00:03:32,969 Speaker 2: you really are? All of your interests across everything that 62 00:03:32,969 --> 00:03:37,830 Speaker 2: you love to do on Reddit, you're not connected through 63 00:03:37,980 --> 00:03:40,140 Speaker 2: the people that you know in your life. You're actually 64 00:03:40,140 --> 00:03:43,290 Speaker 2: connected with the things that you're most passionate about. So 65 00:03:43,950 --> 00:03:47,610 Speaker 2: on Instagram, you might not post a picture about trying 66 00:03:47,610 --> 00:03:51,089 Speaker 2: to really nail that exact temperature of the coffee that 67 00:03:51,089 --> 00:03:54,089 Speaker 2: you want because you're a coffee lover. But on Reddit, 68 00:03:54,090 --> 00:03:57,630 Speaker 2: you'll join coffee communities and you'll understand the best coffee, 69 00:03:57,630 --> 00:04:00,840 Speaker 2: the best regions the coffee can come from, what temperature 70 00:04:00,840 --> 00:04:03,780 Speaker 2: to really get the milk at to make the most 71 00:04:03,780 --> 00:04:07,050 Speaker 2: perfect cortado, can you tell him a coffee enthusiast, guys? 72 00:04:07,139 --> 00:04:09,239 Speaker 1: Oh, look, I've got to tell you, Michael, our producer, 73 00:04:09,240 --> 00:04:12,029 Speaker 1: he literally in the last week posted on Instagram a 74 00:04:12,060 --> 00:04:15,510 Speaker 1: photo of him making a coffee because we have a 75 00:04:15,510 --> 00:04:19,140 Speaker 1: great coffee sponsor, and the design he put on top 76 00:04:19,140 --> 00:04:21,569 Speaker 1: of the coffee and he posted it on Instagram. So this 77 00:04:21,570 --> 00:04:23,279 Speaker 1: is actually hurting me, this conversation of mine, but I 78 00:04:23,279 --> 00:04:27,238 Speaker 1: get your point, I get your point here. Tell me, 79 00:04:27,270 --> 00:04:30,330 Speaker 1: how many people use Reddit globally, and what about in Australia? 80 00:04:31,289 --> 00:04:33,960 Speaker 2: So we don't tend to break down country by country, 81 00:04:34,020 --> 00:04:37,290 Speaker 2: but across the world, we have such a highly engaged 82 00:04:37,290 --> 00:04:41,759 Speaker 2: audience and we see over 70 million daily active unique 83 00:04:41,759 --> 00:04:45,750 Speaker 2: users coming to the platform every day connecting in over 84 00:04:45,750 --> 00:04:50,190 Speaker 2: 100,000 active communities across a variation of interests. 85 00:04:50,700 --> 00:04:52,650 Speaker 1: Stay with me, Yvonne, we'll be back in a minute. 86 00:04:58,980 --> 00:05:03,928 Speaker 1: I'm speaking to Yvonne Quinn from Reddit. So is there 87 00:05:03,928 --> 00:05:04,860 Speaker 1: a typical user? 88 00:05:06,150 --> 00:05:09,599 Speaker 2: No. Again, I think as I mentioned, Reddit is truly 89 00:05:09,600 --> 00:05:13,380 Speaker 2: a representation of humanity. So in the way that you 90 00:05:13,380 --> 00:05:16,170 Speaker 2: will get lots of different people in the human race 91 00:05:16,170 --> 00:05:19,678 Speaker 2: with lots of different interests and lots of different niche 92 00:05:19,678 --> 00:05:24,240 Speaker 2: interests or collective interests, you will find a huge range 93 00:05:24,240 --> 00:05:28,020 Speaker 2: of users on our platform connected by various different things. 94 00:05:28,020 --> 00:05:31,860 Speaker 2: So you can be a football or a soccer fan, 95 00:05:31,920 --> 00:05:34,080 Speaker 2: and no matter what region you come from, you can 96 00:05:34,080 --> 00:05:38,459 Speaker 2: find a community that is completely focused on football in 97 00:05:38,460 --> 00:05:41,969 Speaker 2: its own right as a British or an Australian word, 98 00:05:42,029 --> 00:05:45,210 Speaker 2: or you can find soccer fans during that same sport 99 00:05:45,210 --> 00:05:50,250 Speaker 2: experience united in soccer communities. You can also find people 100 00:05:50,250 --> 00:05:53,880 Speaker 2: that are truly enthusiastic about cocktails or- 101 00:05:54,300 --> 00:05:56,128 Speaker 1: Coffee, perhaps, coffee. 102 00:05:57,779 --> 00:06:01,260 Speaker 2: Coffee, yeah. I could speak about coffee all day. I am a huge coffee enthusiast, and if 103 00:06:01,260 --> 00:06:05,400 Speaker 2: you looked at me on Reddit, you would really understand 104 00:06:05,400 --> 00:06:09,029 Speaker 2: how passionate I am about getting the right coffee in 105 00:06:09,029 --> 00:06:09,568 Speaker 2: my life. 106 00:06:09,990 --> 00:06:12,089 Speaker 1: Clearly, that's where I'm going after this interview. What are 107 00:06:12,089 --> 00:06:15,029 Speaker 1: the topics and content or what topics and content is 108 00:06:15,029 --> 00:06:15,810 Speaker 1: most popular? 109 00:06:16,680 --> 00:06:19,380 Speaker 2: I don't think there's anything that's most popular. I think 110 00:06:19,380 --> 00:06:22,260 Speaker 2: there's a wide range of interests. So typically, a lot 111 00:06:22,260 --> 00:06:25,650 Speaker 2: of people have a perception that Reddit is a home 112 00:06:25,650 --> 00:06:30,539 Speaker 2: to people that are enthusiastic about gaming or technology or 113 00:06:30,690 --> 00:06:36,238 Speaker 2: crypto. But honestly, there is such an abundance of communities 114 00:06:36,270 --> 00:06:39,089 Speaker 2: around a variation of topics. So we have people that 115 00:06:39,089 --> 00:06:42,900 Speaker 2: come to the platform that are seeking legal advice or 116 00:06:42,900 --> 00:06:46,800 Speaker 2: financial advice. We have people coming to the platform because 117 00:06:47,490 --> 00:06:50,248 Speaker 2: they're a growing family and they're trying to figure out 118 00:06:50,610 --> 00:06:53,549 Speaker 2: what car suits their needs as a growing family. So 119 00:06:53,549 --> 00:06:56,730 Speaker 2: they jump into communities like R/ what car could I 120 00:06:56,730 --> 00:07:01,409 Speaker 2: buy? Or again, they are makeup addicts and they're coming 121 00:07:01,410 --> 00:07:04,049 Speaker 2: because they're looking to see the latest trends or the 122 00:07:04,050 --> 00:07:07,738 Speaker 2: latest contouring techniques because they want to get their face 123 00:07:07,740 --> 00:07:11,459 Speaker 2: and their makeup routine in a completely flawless way. I 124 00:07:11,459 --> 00:07:16,410 Speaker 2: think there's not a popular community. We classify Reddit as a 125 00:07:16,410 --> 00:07:17,430 Speaker 2: home for everyone. 126 00:07:17,910 --> 00:07:21,480 Speaker 1: Okay. We are a business podcast. I forget that sometimes. 127 00:07:21,480 --> 00:07:23,309 Speaker 1: How do businesses use Reddit? 128 00:07:24,389 --> 00:07:26,759 Speaker 2: I think there's so many ways in which businesses can 129 00:07:26,759 --> 00:07:29,429 Speaker 2: use Reddit, and I think if we start with the 130 00:07:29,430 --> 00:07:33,450 Speaker 2: why, why businesses come to Reddit? So for us, communities 131 00:07:33,450 --> 00:07:39,810 Speaker 2: offer something really different because the consumer behavior within communities 132 00:07:39,840 --> 00:07:43,710 Speaker 2: is a different opportunity for brands. So as I mentioned, 133 00:07:43,710 --> 00:07:48,150 Speaker 2: Reddit is a place where people can be found in places 134 00:07:48,150 --> 00:07:51,600 Speaker 2: that are meaningful to them, in ways that will actually 135 00:07:51,600 --> 00:07:55,290 Speaker 2: resonate with them. And because of this, we've seen that 136 00:07:55,290 --> 00:07:58,439 Speaker 2: when brands start to activate Reddit as part of their 137 00:07:58,440 --> 00:08:03,719 Speaker 2: media plan, they see really successful result with maximum returns 138 00:08:03,719 --> 00:08:07,020 Speaker 2: against their spends. So I'll use myself as an example 139 00:08:07,020 --> 00:08:10,710 Speaker 2: in this, as a standard media buy or in other 140 00:08:10,710 --> 00:08:14,640 Speaker 2: platforms in the internet, I tend to be my demographics. 141 00:08:14,700 --> 00:08:19,230 Speaker 2: I'm a gender, I'm my age, I'm my location. And 142 00:08:19,230 --> 00:08:22,410 Speaker 2: if a business is trying to reach me elsewhere on 143 00:08:22,410 --> 00:08:25,800 Speaker 2: the internet, they'll know me as Yvonne. They'll know me 144 00:08:25,800 --> 00:08:30,570 Speaker 2: as a thirty- something woman, living in London. But what 145 00:08:30,570 --> 00:08:33,420 Speaker 2: can that really tell you about me? And will that 146 00:08:33,420 --> 00:08:37,980 Speaker 2: information help you as a business see the maximum returns 147 00:08:37,980 --> 00:08:41,910 Speaker 2: if you want to convert me with your campaign? But 148 00:08:41,910 --> 00:08:45,059 Speaker 2: if you find me on Reddit, because our users are 149 00:08:45,059 --> 00:08:49,440 Speaker 2: organized around their passions in communities where they're completely passionate 150 00:08:49,440 --> 00:08:53,340 Speaker 2: and sharing those interests, you're able to get much more 151 00:08:53,340 --> 00:08:58,440 Speaker 2: information about the people and the audiences you're trying to reach. So 152 00:08:58,708 --> 00:09:02,400 Speaker 2: on Reddit, I'm not Yvonne, I'm not thirty- something, I 153 00:09:02,400 --> 00:09:05,700 Speaker 2: may or may not live in London. I'm actually Wandering 154 00:09:05,700 --> 00:09:09,270 Speaker 2: Scott, which is my username, I go by. As you 155 00:09:09,270 --> 00:09:12,208 Speaker 2: know, I'm a coffee lover but I'm also a dog 156 00:09:12,210 --> 00:09:16,919 Speaker 2: owner. I'm really interested in new experiences and traveling. I'm 157 00:09:16,920 --> 00:09:20,640 Speaker 2: trying really hard to refine my 30+ skincare routine because 158 00:09:20,640 --> 00:09:23,040 Speaker 2: that changes when you pass a certain milestone in your 159 00:09:23,040 --> 00:09:25,348 Speaker 2: life. And please don't judge me. 160 00:09:26,040 --> 00:09:28,978 Speaker 1: I haven't got one yet. I'm well past you. I'm 161 00:09:28,980 --> 00:09:31,800 Speaker 1: going to have to start going to Reddit to find my skincare routine. 162 00:09:31,920 --> 00:09:34,799 Speaker 2: R/ skincare advice can really be your new best friend 163 00:09:34,799 --> 00:09:35,279 Speaker 2: if you're living with- 164 00:09:37,380 --> 00:09:39,300 Speaker 1: I suppose the point here is that the data is 165 00:09:39,300 --> 00:09:41,880 Speaker 1: richer. So what you are saying is if you're an 166 00:09:41,880 --> 00:09:47,340 Speaker 1: advertiser, the information on Wandering Scott is richer than it 167 00:09:47,340 --> 00:09:48,660 Speaker 1: might be on another platform. 168 00:09:49,380 --> 00:09:52,049 Speaker 2: It absolutely is. You can understand much more about who 169 00:09:52,049 --> 00:09:54,360 Speaker 2: the person is and a place that they want to 170 00:09:54,360 --> 00:09:57,540 Speaker 2: be found. Therefore, you stand a higher likelihood of being 171 00:09:57,540 --> 00:10:00,360 Speaker 2: able to convert them. And if you're a brand, there's 172 00:10:00,360 --> 00:10:02,550 Speaker 2: so many ways in which you can do that on 173 00:10:02,550 --> 00:10:06,330 Speaker 2: Reddit. So first and foremost, you can simply pull up 174 00:10:06,330 --> 00:10:09,179 Speaker 2: a chair and you can listen to customers within each 175 00:10:09,179 --> 00:10:13,350 Speaker 2: community. You have that opportunity to do social listening. So 176 00:10:13,350 --> 00:10:15,570 Speaker 2: if you're a new brand who's looking to find gaps 177 00:10:15,570 --> 00:10:18,840 Speaker 2: in the market, or you're a big brand who's just simply looking to 178 00:10:18,840 --> 00:10:23,069 Speaker 2: improve products or services or reach new audiences, Reddit's a 179 00:10:23,070 --> 00:10:27,239 Speaker 2: platform with people actively sharing opinions and perspectives that can 180 00:10:27,240 --> 00:10:31,050 Speaker 2: be really incredibly useful to you in order to understand 181 00:10:31,050 --> 00:10:34,650 Speaker 2: consumer needs. But then more traditionally, there's loads of different 182 00:10:34,650 --> 00:10:39,420 Speaker 2: advertising formats where brands can tap into to be able 183 00:10:39,420 --> 00:10:44,939 Speaker 2: to build campaigns that are more centric around their individual 184 00:10:44,940 --> 00:10:47,968 Speaker 2: needs or their campaign objectives. And we have a whole 185 00:10:47,969 --> 00:10:51,179 Speaker 2: range of products within our product suite from the typical 186 00:10:51,179 --> 00:10:57,809 Speaker 2: formats you might expect, ranging from promoted posts and promoted videos, various different 187 00:10:57,809 --> 00:11:01,230 Speaker 2: styles of takeovers that you can do, whether it's front 188 00:11:01,230 --> 00:11:04,949 Speaker 2: page takeovers or category takeovers, which are really great for 189 00:11:04,949 --> 00:11:10,380 Speaker 2: brands looking to get awareness and drive campaign efficiency. And 190 00:11:10,380 --> 00:11:15,029 Speaker 2: then we also have conversation placements, opportunities for brands and 191 00:11:15,030 --> 00:11:18,929 Speaker 2: advertisers who want to understand the heart of Reddit users, 192 00:11:19,410 --> 00:11:22,350 Speaker 2: the interactions that they have and the exchanges that they 193 00:11:22,350 --> 00:11:26,250 Speaker 2: have. I think there's a range of different product opportunities 194 00:11:26,250 --> 00:11:29,250 Speaker 2: that can help you be more targeted in trying to 195 00:11:29,250 --> 00:11:31,290 Speaker 2: find the audience that is right for your brand. 196 00:11:32,099 --> 00:11:34,140 Speaker 1: Yvonne, thank you for talking to FEAR & GREED. 197 00:11:34,679 --> 00:11:35,370 Speaker 2: Thank you, guys. 198 00:11:35,790 --> 00:11:38,458 Speaker 1: That was Yvonne Quinn, head of Business Marketing, Europe and 199 00:11:38,460 --> 00:11:41,520 Speaker 1: Australia for Reddit. This is the FEAR & GREED Business interview. 200 00:11:41,520 --> 00:11:43,890 Speaker 1: Join us every morning for the full episode of FEAR & 201 00:11:43,890 --> 00:11:48,420 Speaker 1: GREED, Australia's best business podcast. I'm Sean Aylmer. Enjoy your day.