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Nextdoor Empowers Small Businesses With the Launch of New Nextdoor Ads
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Nextdoor (NYSE: KIND) has launched Nextdoor Ads, a self-serve advertising platform aimed at helping small and medium-sized businesses (SMBs) engage with local audiences. This user-friendly system is designed to create effective ads quickly, allowing SMBs to build brand recognition within their communities. With approximately 69 million neighbors globally and nearly 1 in 3 U.S. households actively using Nextdoor, the platform supports local economic growth. The full rollout is expected in the coming weeks, further enhancing business outreach possibilities.
Positive
Launch of Nextdoor Ads enhances SMB advertising capabilities.
Access to a large audience with 69 million neighbors globally.
User-friendly platform promotes quick ad creation for SMBs.
Negative
None.
New, easy-to-use advertising platform helps SMBs grow their business, achieve their marketing goals, and take part in an active valued community
SAN FRANCISCO--(BUSINESS WIRE)--
Today, Nextdoor (NYSE: KIND) announced Nextdoor Ads, an easy-to-use expansion of Nextdoor’s proprietary self-serve campaign management platform, designed to help small and medium-sized businesses (SMBs) advertise on Nextdoor. By providing a guided experience for creating and managing effective ads on Nextdoor, Nextdoor Ads empowers SMBs to build stronger brands with local audiences, turn neighbors into customers, and grow their business through advertising on the neighborhood network.
Introducing Nextdoor Ads, an easy-to-use, self-serve advertising platform to help small businesses. (Photo: Business Wire)
“Neighborhoods are one of the most important communities in our lives and when local businesses thrive, neighborhoods thrive,” said Kiran Prasad, Head of Product at Nextdoor. “Small businesses need a simple solution to reach customers in their local area at scale. On Nextdoor, small businesses are a trusted and core member of an active valued community – it’s where they can engage neighbors when and where it matters most, and ultimately grow their business.”
The launch of Nextdoor Ads supports the company’s broader product strategy of building an active valued community where neighbors, businesses, and public services can trust and depend on each other to exchange valuable information, goods, and services. From home services to restaurants, SMBs can leverage this platform to reach active, local customers.
“Nextdoor has helped me grow my business exponentially and about 50-60 percent of my customers are through Nextdoor,” said small business owner, Bill Evans, of Flowing Current Electric based in Clayton, NC. “Running a small business keeps me quite busy, so being able to easily create an ad once and having that ad yield so many new customers has been amazing.”
Nextdoor is a powerful platform for SMBs looking to grow locally. Nearly 1 in 3 U.S. households are already on Nextdoor and these neighbors are motivated to support local businesses. Pre-pandemic, 88% of neighbors* frequented a local business at least once a week. Now, 72% of U.S. adults** are making it more of a priority to support local businesses compared to before the pandemic. Nextdoor neighbors also love to spread the word — they’ve already shared over 55 million local business recommendations on the Nextdoor platform. Nextdoor not only connects businesses with this active audience of neighbors, but also helps them build trusted relationships with a uniquely engaged local audience and grow their word-of-mouth reputation.
"Small businesses are at the center of thriving neighborhoods. We are excited to deliver an ads solution suite for small businesses that removes the barrier to entry in campaign management, enables ad creation in just a few steps, and reaches neighbors in their immediate neighborhood and beyond," said Heidi Andersen, Head of Revenue at Nextdoor. "The majority of neighbors that visit Nextdoor at least once a month do not regularly use other social networks. With Nextdoor Ads, small businesses can increase sales and reach real people in the neighborhoods that matter to them."***
Nextdoor Ads is slated to fully launch in the U.S. in the coming weeks, enabling SMBs to quickly and easily create advertising campaigns to engage with their neighbors and grow their businesses on Nextdoor. To start advertising, SMB users with a free Nextdoor business account can login to select their goal, build their ad, choose their target audience, set their daily budget and ad duration, and publish. Campaigns can be launched in just a few clicks, delivering their brand and message directly to targeted neighbors and neighborhoods. SMBs can then easily track campaign performance from their Nextdoor Ads dashboard.
Nextdoor provides a user-friendly ads platform and is also home to a multitude of marketing resources to aid SMBs in variety of business sectors including:
Today, Nextdoor is the neighborhood network, delivering scale with 69 million neighbors globally as of the end of Q4 2021. The expansion of Nextdoor's campaign management platform with the launch of Nextdoor Ads will provide businesses of all sizes, including SMBs, with access to the same ad inventory on Nextdoor.
*Figure from Nextdoor survey conducted in February 2020. Total sample size was more than 2,000 Nextdoor users in the US.
**Figure from YouGov Plc on behalf of Nextdoor. Total sample size was 14,904 adults (of whom 2,469 were US adults). Fieldwork was undertaken between August 31, 2021 – September 17, 2021. The survey was carried out online. The figures have been weighted and are representative of all US Adults (aged 18+).
***According to the Q4 2021 U.S. data from GWI, 76% of neighbors who visit Nextdoor at least once per month don’t visit Snap, 69% don’t visit TikTok, and 58% don’t visit Twitter.
About Nextdoor
Nextdoor (NYSE: KIND) is where you connect to the neighborhoods that matter to you so you can belong. Kindness is core to our purpose: to cultivate a kinder world where everyone has a neighborhood they can rely on. Neighbors around the world turn to Nextdoor daily to receive trusted information, give and get help, get things done, and build real-world connections with those nearby — neighbors, businesses, and public services.
We believe connecting with others is a universal human need. That truth, and the reality that neighborhoods are among the most important communities in our lives, have been guiding principles for Nextdoor since the beginning.
Today, neighbors rely on Nextdoor in more than 285,000 neighborhoods around the world, including the United States (nearly 1 in 3 U.S. households), the United Kingdom, Germany, France, the Netherlands, Italy, Spain, Sweden, Denmark, Australia, and Canada, with many more to come.
Nextdoor is based in San Francisco. For additional information and images: nextdoor.com/newsroom.
Forward-Looking Statements
This press release contains forward looking statements regarding our future business plans and expectations. These forward looking statements are only predictions and may differ materially from actual results due to a variety of factors including: our anticipated growth, including our ability to scale new neighbor growth, our ability to grow engagement by our existing neighbor base, and our ability to increase monetization of our platform; our ability to scale our business and monetization efforts; our ability to expand our business operations abroad by opening new and expanding within existing neighborhoods outside of the United States; our ability to respond to general economic conditions; our ability to manage growth effectively; our ability to achieve and maintain profitability in the future; our ability to access sources of capital to finance operations and growth; the success of strategic relationships with third parties; and the effect of COVID-19. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 15, 2022, which is available on the SEC website at www.sec.gov, and other documents filed by us from time to time with the SEC. In addition, please note that the date of this press release is April 7, 2022, and any forward looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
