Marketing relevance is crucial to a brand’s success and its ability to attract and retain customers. The pendulum has swung back and forth between transactional marketing and brand-building initiatives, but finding the sweet spot between the two is crucial. Differentiation and relevance are two of the most important pillars of the Brand Asset Valuator model, which evaluates the value of a brand and its future potential. With consumers making purchasing decisions based on their rapidly changing needs, it’s vital for brands to be relevant and meaningful to them.
To ensure customer relevance, brands must check in with their customers by being introspective about their brand’s lifecycle and the prospect’s journey. One way to do this is to measure customer usage and offer support if usage decreases. A fintech company that offers a lower-cost option for credit analysis on public companies provides an example of relevance being the key factor in driving loyalty and retention. The company faced limitations with its price-sensitive audience and had to find ways to become more relevant. Offering a low-cost option to larger companies could have resolved the low-usage problem, reduced attrition, and provided more upsell and cross-sell opportunities.
Relevance is critical in marketing, and brands must always put the customer at the forefront of their marketing strategy. By checking in with customers and being introspective about their brand’s lifecycle, they can fine-tune their marketing approach and ensure relevance is always at the forefront.
As we face the uncertainty of a potential economic downturn, it can be tempting to cut back on marketing and technology budgets. But as industrialist Warren Buffett once said, “The best chance to deploy capital is when things are going down.” And history has shown that boosting advertising during a recession can lead to improved financial performance for up to three years after the recession is over.
A famous example from the 1920s is the battle between Kellogg and Post, two leading breakfast cereal brands. When the Great Depression hit, Post cut back on advertising while Kellogg doubled their ad budget and introduced a new cereal, Rice Krispies. The result was a 30% increase in Kellogg’s profits, while Post’s sales declined.
This idea is supported by numerous studies, including a large academic study by two professors at Oregon State University, who analyzed the performance of 3,000 companies over twenty years through five distinct recessions. The study found that companies that increased advertising during recessions had better financial performance compared to those that cut back.
In the 1990s recession, McDonald’s cut back on advertising and saw a nearly 30% drop in sales, while competitors Taco Bell and Pizza Hut grew sales by 40% and 61% respectively by increasing advertising. Jif and Kraft Salad Dressing also grew sales by 57% and 70% respectively through increased advertising.
And in 2009, despite the downturn, Amazon’s sales shot up 28% due to the launch and promotion of the Kindle. This shows that even during tough times, there are opportunities for growth through smart marketing strategies.
Recessions can create more opportunities for challengers, as dominant brands tend to prioritize protecting what they have over growth. So, instead of cutting back on marketing, companies should embrace the opportunity to stand out and make their mark.
But I understand that making the decision to increase marketing spend during a recession is not an easy one. That’s why it’s important to have a clear strategy and focus on areas that will provide the most impact and return on investment.
One way to do this is by focusing on customer engagement and loyalty. By prioritizing customer satisfaction, companies can build strong relationships that will last through the ups and downs of the economy. And by providing valuable content and experiences, companies can establish themselves as thought leaders in their industry and attract new customers.
Another strategy is to take advantage of new technologies and platforms. By incorporating new and innovative tools into your marketing strategy, you can reach a wider audience and connect with them in new and meaningful ways.
And finally, companies should always be looking for ways to improve their operations and become more efficient. By streamlining processes and reducing waste, companies can lower costs and allocate more resources towards marketing and growth initiatives.
In conclusion, while a potential economic downturn may seem like a time to pull back, it’s actually an opportunity to invest in marketing and set your company up for long-term success. By embracing new technologies, prioritizing customer engagement and loyalty, and improving operations, companies can come out ahead during tough times.
So let’s not get depressed about the marketing downturn, but instead, let’s get creative, innovative, and strategic. And together, we can emerge stronger and better prepared for whatever the future may bring.
Meta Platforms, the parent company of Facebook and Instagram, saw its revenue dip 4% year-over-year in the fourth quarter of 2022, marking the third consecutive quarter of decline. Despite ad impressions rising 23% YoY during this period, the average price per ad dropped 22%. Despite this, Facebook reported 2 billion daily active users in Q4, which CEO Mark Zuckerberg attributed to advancements in AI and the short-form Reels format.
In 2023, the focus at Meta will be efficiency as the company aims to create a leaner organization. Meta’s total expenses for 2023 are forecasted to be between $89 billion to $95 billion, which is lower than previous projections. The company’s stock performance improved in premarket trading after it announced share buybacks totaling $40 billion.
Reels, a short-form video format similar to TikTok, remains a focus area for Meta, with 40% of Meta advertisers using it across its apps. However, Reels are not yet as monetized as other areas of Meta’s business, meaning higher engagement could result in lower revenue. Zuckerberg expects Reels to be in a revenue-neutral place by the end of 2023 or early next year.
Meta is betting on AI to boost its ad operations and counteract the impact of changes to Apple’s iOS that make targeting and measuring mobile campaigns more challenging. In Q4, advertisers saw a 20% increase in conversions compared to the previous year, which Zuckerberg attributed to AI advancements. This, along with a lower cost per acquisition, resulted in a higher return on ad spend.
The company’s long-term ambitions are focused on the metaverse, a blend of physical and digital experiences. Reality Labs, the Meta division responsible for developing its metaverse products, recorded a $4.3 billion operating loss in Q4, raising questions from investors about the mainstream appeal of this experimental space.
As the world continues to look for ways to transition from fossil fuels to electric power, General Motors (GM) and Netflix have come together in a strategic alliance to promote electric vehicles (EVs). The partnership is about more than just product placement, although that is a component. In addition to EVs being included in various Netflix productions, such as “Love is Blind,” “Queer Eye,” and “Unstable,” the streaming giant will take steps to ensure more sustainable productions, including optimizing energy use and pushing for decarbonization.
The two brands are working on a 60-second Super Bowl ad that features actor Will Ferrell and GM’s EVs appearing in Netflix hits, including “Stranger Things,” “Squid Games,” and “Army of the Dead.” The campaign is designed to accelerate the world’s transition to EVs, and as GM Global CMO Deborah Wahl noted, “The more that we see EVs show up in this type of binge-worthy content, the faster everyone gets used to the change.”
Netflix has committed to getting EVs into every production, behind and in front of the camera, and will work with creators to determine how EVs fit the story, without paying for product placement. The partnership also means that GM vehicles will be featured often in Netflix productions, but the streaming giant will also feature EVs from other automakers in their content.
This alliance between GM and Netflix is part of both companies’ efforts to rewrite their marketing playbooks as GM shifts towards an all-electric future and Netflix evolves its offerings for consumers and brands. The partnership is a win-win for both brands, as it helps engage consumers around culture and educates them about EVs, while also providing Netflix with a new way to partner with brands. As the streaming landscape continues to evolve, this partnership between GM and Netflix is a sign that the world is moving towards a more sustainable future, powered by electric vehicles.
eBooks have become an increasingly popular tool for businesses looking to generate demand and attract new customers. They offer an opportunity to provide value and build trust with potential customers through the sharing of information and knowledge. However, effectively using eBooks for demand generation requires a careful balancing act between promoting the book itself, highlighting the company behind it, and including a clear call-to-action (CTA).
When creating an eBook as a demand generation tool, the focus should primarily be on the book itself. This is the product you are offering, whether people are buying it with money or simply exchanging their time and information for it. The majority of the “micro-yeses” should be focused on the book. The micro-yeses for the company and the author behind it provide credibility for the book and establish “Yes, I believe” and “Yes, I want this from you.”
The CTA, of course, is the final micro-yes. It is important to be clear about what customers have to trade in order to get the book and to emphasize how the perceived value is greater than the perceived cost. The language used in the CTA, such as “get” rather than “enroll,” can also impact the perceived value.
There is no one set formula for balancing the various elements on the eBook landing page. However, it is generally recommended to allocate about 80% of the page to promoting the book, 15% to the author and company, and 5% to the CTA. This is just a rough estimate and may vary depending on the specific circumstances.
When it comes to selling books, authors often offer information and value to people who may never actually buy or read the book. The key to generating demand through eBooks is to “sell by serving.” This means that the focus should be on how to provide value to potential customers, rather than simply trying to sell them on the book.
In this sense, the eBook landing page doesn’t necessarily have to be a traditional landing page. For example, an article or interview could be used to promote the book and build interest in it. This approach could be tested against a traditional selling landing page to see what resonates best with your target audience.
One important factor to consider when promoting eBooks is the credibility of the author and the company behind it. A powerful brand, such as The Wharton School, can provide instant credibility, making it easier to generate demand. However, it is important to strike a balance between promoting the book and the company and author behind it.
The principles of value proposition (VP) for eBooks are the same as for any other lead generation offer, such as infographics. The goal is to get potential customers to perceive more value than cost in order to say “yes.” However, the extent of work required on each side of the equation may vary depending on the specific offer.
It is important to understand how your target audience views the eBook as a cost or value proposition. The best way to determine this is through testing. For example, if you are offering an eBook on automating work processes to save time, a 109-page book may be seen as more of a cost than a value. In this case, quick checklists may be a better demand generation tool. On the other hand, if you are offering an eBook on how to find the right person to hire, the depth of information in a 109-page book may be seen as more valuable.
In order to optimize thought sequences and generate demand, it is important to enter into a conversation with potential customers and guide them towards a value exchange. The funnel is a tool to facilitate this conversation and make the value exchange as seamless as possible. As Flint McGlaughlin, CEO of MECLABS Institute, says, “If you’re trying to persuade someone to take a specific action, it’s important to understand their thought sequence and meet them where they are in that process.”
In conclusion, eBooks can be a powerful tool for businesses looking to generate demand and attract new customers. However, it’s important to balance promoting the book, highlighting the company behind it, and including a clear call-to-action in order to effectively use eBooks for demand generation. Understanding your target audience’s perception of the eBook as a cost or value proposition, as well as entering into a conversation with potential customers, are key to optimizing the thought sequence and making the value exchange as seamless as possible. By following these principles and taking a “sell by serving” approach, businesses can use eBooks to build trust, establish credibility, and ultimately drive conversions.
In recent years, data privacy has become a highly debated topic in the advertising industry, with tech companies like Google and Apple introducing policies to respond to consumers’ demands for more control over their personal information. As a result, lawmakers in various international markets are also implementing laws that give consumers more influence over the collection, storage, and sale of their data. This year, five new state-level data privacy laws are set to go into effect in the US, and the Federal Trade Commission is in the process of creating new privacy regulations for businesses.
In response to these developments, the Association of National Advertisers (ANA) and the American Association of Advertising Agencies (4A’s) have expressed support for these changes and called for innovation in the industry to help create new privacy-respecting technology. However, these two organizations recently issued a joint statement disagreeing with David Cohen, the chief executive at the Interactive Advertising Bureau (IAB), on his recent comments at the IAB’s Annual Leadership Meeting.
Cohen’s remarks have caused a stir in the advertising industry, as he used political rhetoric to criticize policymakers and tech companies that are advancing consumer data privacy initiatives. He referred to privacy industry leaders as “extremists” and compared data privacy to war, saying that privacy advocates are “attacking” the marketing and advertising sector “from the inside out.”
In response to Cohen’s comments, the ANA and the 4A’s stated, “We do not believe that the IAB’s posture is sufficiently balanced.” The organizations rejected the “acerbic tone, texture, and prescriptions offered by the IAB” and criticized Cohen’s arguments for favoring “the short-term sugar highs of polarizing political rhetoric” over “the art of nuance and listening” on the issue of consumer data privacy.
“We reject the demonization of lawmakers and privacy industry changemakers,” the ANA and 4A’s said in their joint statement. “Instead, we call for more productive collaboration and problem-solving around the issue.” The groups pointed to “examples of leadership” – such as the Media Ratings Council, the Children’s Food and Beverage Advertising Initiative, and the Digital Advertising Alliance – as examples of organizations that have effectively addressed other challenges in the industry through “responsibility” and “self-regulation.”
In response to Cohen’s remarks, the ANA and the 4A’s emphasized the importance of finding a balance between privacy and advertising. “As responsible marketers, we need to continue to put forward reasonable recommendations that provide balance for marketers, agencies, platforms, media, ad tech and… consumers. We can’t just duck our heads and hope that no one will notice. That is most relevant with respect to the issues surrounding privacy,” they said.
Cohen, however, stands by his comments and believes that the IAB’s stance on data privacy is necessary. “Data privacy is not a luxury. It’s a right. But with rights come responsibilities,” Cohen said in a statement. “The advertising industry, including the IAB, has a responsibility to ensure that consumers’ personal information is protected and used responsibly.”
According to Cohen, the industry needs to find a way to balance privacy and advertising, but he argues that it should not be at the cost of the industry’s growth. “We cannot let extremists push us into a privacy bunker where all personalization, innovation and creativity are stifled,“ he added. “The industry needs to come together to find a solution that protects consumers’ privacy while still allowing the advertising industry to thrive and grow.”
Cohen’s statement highlights the need for the advertising industry to find a balance between protecting consumers’ privacy and allowing for innovation and growth. However, his use of political rhetoric to criticize privacy advocates has caused controversy in the industry and sparked criticism from the ANA and the 4A’s. The organizations have called for a more productive approach to finding a solution, rather than using polarizing political language.
“The advertising industry has a long and proud tradition of self-regulation,” the ANA and 4A’s said in their joint statement. “As responsible marketers, we need to continue to put forward reasonable recommendations that provide balance for marketers, agencies, platforms, media, ad tech and consumers. We need to take a collaborative approach to finding a solution that protects consumers’ privacy while still allowing the advertising industry to thrive.”
In conclusion, the debate surrounding data privacy in the advertising industry is far from over. As consumers demand more control over their personal information and lawmakers implement new privacy regulations, the industry needs to find a balance between privacy and advertising. While Cohen’s comments have sparked controversy, the ANA and 4A’s have called for a more productive and collaborative approach to finding a solution. The industry must work together to find a way to protect consumers’ privacy while still allowing for innovation and growth in the advertising sector.
It looks like Jimmy John’s and Yung Gravy are bringing a new twist to this year’s Valentine’s Day celebrations. They’ve partnered up to release a limited edition red velvet cookie and promote it in a reality show-style ad that’ll leave you saying, “I can’t believe this is real.”
For those unfamiliar with the term, Yung Gravy refers to the moms he admires as “MILFs,” a label that has been around for the past 20 years. But Jimmy John’s is putting a new spin on it, with the acronym standing for “Moms I’d Like to Feed.” And what better way to feed them than with their new sweet and savory red velvet cookie?
It’s not just the cookie that’s causing a stir though, it’s the ad campaign that’s got everyone talking. Parodying “The Bachelor,” Yung Gravy offers select women, ranging in age from their 40s to 70s, a red velvet cookie instead of a rose. With his confident personality, Yung Gravy declares, “If you give a MILF a cookie, she’s going to ask for Gravy.”
While some may find this label disrespectful, others see it as endearing. Either way, the ad has sparked a fan reaction that can be best described as a mix of disbelief and laughter.
However, despite the attention the ad has received, feedback on the actual cookies has been positive, with one reviewer calling them “nice and soft,” and rating them a “7.1 out of 10.”
So whether you’re a fan of Yung Gravy, or just looking for a sweet treat for your Valentine’s Day celebration, Jimmy John’s and their limited edition red velvet cookie is worth checking out. And for those who are part of Jimmy John’s Freaky Fast Rewards program, you can unlock even more benefits by trying the cookie.
Now, excuse me while I go download the Jimmy John’s app and try out this cookie for myself.
Terence Kawaja, CEO of Luma Partners, gave a controversial presentation at the 4A’s Decisions conference, where he compared agencies to cockroaches.
During the presentation, Kawaja discussed the media transparency issue that arose in 2016 after media agency veteran Jon Mandel made a speech at an ANA conference, alleging that many major holding company agencies had institutionalized various forms of rebates, kickbacks, and indirect payment models from media suppliers that were not disclosed to agency clients.
To make his point, Kawaja showed a short video from the movie “Pulp Fiction” that was redubbed and altered. The clip depicted agency executives as cheaters and portrayed them being punished for their wrongdoings. In the video, agencies were represented by a character who was strapped to a chair and shot to pieces by hitmen.
Kawaja then went on to offer some advice for agencies to survive in the industry, including embracing complexity, turning client opportunities into reality, and sharpening data and tech capabilities.
However, despite offering this advice, Kawaja made it clear that he does not have much care for the future of agencies.
In conclusion, Terrence Kawaja’s presentation at the 4A’s Decisions conference was a bold statement on the state of the agency industry and a call to action for agencies to change their ways and embrace the changing landscape. While some may take offense at Kawaja’s comparison of agencies to cockroaches, the presentation serves as a reminder of the need for transparency and accountability in the industry.
Marketing is a constantly evolving field, and with the rise of technology, marketers now have access to a wealth of customer data and insights.
From social media analytics to customer feedback platforms, there are numerous ways to gather real-time information on customer behavior, preferences, and engagement.
However, it’s essential for marketers to use this data effectively and keep a few best practices in mind.
Don’t Rely Solely on Past Marketing Information Marketers often begin by analyzing the performance of past campaigns and the messaging used. This information can provide valuable insights and inform future strategies, but relying solely on past data can lead to outdated insights. The B2B market, like many other markets, is constantly changing with shifting trends and consumer behavior. To stay ahead of the curve, marketers should complement previous campaign insights with real-time customer feedback and insights.
Run Real-Time Feedback Tests and Involve Customers Marketing teams have the ability to run real-time feedback campaigns and encourage customer participation in the marketing process. For instance, if a marketing team is revamping its website, it can ask prospects for their preferences in terms of website layout and features. This will not only provide real-time customer insights but also make customers feel valued as their inputs are being considered.
Utilize Real-Time Consumer Insights to Prevent Marketing Mishaps Using real-time customer trends and preferences earlier in the marketing process can reduce the marketing cycle and prevent potential mishaps. For example, by A/B testing an ad campaign, marketers can determine what type of design, messaging, and call-to-action resonates with a particular audience. These insights can then be used to inform future marketing campaigns and reduce the customer journey lifecycle. Furthermore, real-time feedback can also help prevent problems down the line by allowing marketers to make informed decisions and adjustments in time.
Encourage Customer Feedback and Engagement Marketing teams should actively encourage customer feedback and engagement through various channels such as surveys, focus groups, and social media. This not only provides valuable insights into customer behavior and preferences but also strengthens the relationship between the brand and its customers. Encouraging customer feedback can also help identify areas for improvement and inform future marketing strategies.
Integrate Customer Data into Marketing Automation Tools To effectively leverage customer data and insights, marketers should integrate it into marketing automation tools such as customer relationship management (CRM) systems and marketing platforms. This allows for easy access to customer information and insights, streamlining the marketing process and enabling teams to make informed decisions in real-time.
With the plethora of data sources and customer insights available to marketers today, it’s essential to use this information effectively to enhance marketing campaigns and increase customer engagement. By keeping these best practices in mind, marketing teams can leverage real-time customer feedback and insights to stay ahead of the curve and drive business growth.
The world of marketing and advertising has evolved rapidly in the digital era, where consumers are more informed than ever before. Demand generation, a combination of marketing tactics, strategies, and programs aimed at creating awareness and driving interest in a product or service, has become a critical aspect of the sales process. The ultimate goal of demand generation is to fuel the sales pipeline, shorten the sales cycle, and generate revenue by delivering the right information to the right people at the right time.
Dennis Yu, a renowned social marketing expert, has developed a groundbreaking strategy called “Dollar-a-Day” that has already made him famous in the world of Facebook marketing.
The strategy, as the name suggests, doesn’t require businesses to spend a fortune advertising on social media to generate significant ROI. Instead, the strategy involves testing your content for $1/day to determine which posts perform best and then scaling up ad spend on the best performers.
The process starts with boosting a post for seven consecutive days, followed by Dennis’ benchmarks for killing and keeping posts. The idea is to kill 90% of the posts that don’t perform well and add $30 for 30 more days if the posts perform well. The next step is to identify the “unicorn posts” by testing new audiences and higher budgets.
Once you’ve identified your unicorn posts, you can throw more money on them as the return on ad spend is worth it, provided you don’t hit more than 10% of the available audience.
Dennis’ strategy is simple and easy to follow, as long as you document your process and develop “repeatable excellence.” Taking notes, creating checklists, and following them can help replicate the tested success. The strategy works equally well on Twitter and Facebook, as the lower quality of traffic on Twitter is offset by the lower cost of ad spend.
The “Dollar-a-Day” strategy allows businesses to test their content at a low cost and scale up to the limit of the available demand they can profitably sell to. The strategy is particularly useful for short snippets of text and video organized into three pieces: “WHY” (top of the funnel), “HOW” (middle of the funnel), and “WHAT” (bottom of the funnel).
The dollar-a-day strategy is a cost-effective approach to demand generation marketing that involves spending a small amount of money on advertising each day to drive traffic to a website or landing page.
By spending just a dollar a day on advertising, companies can reach a large number of potential customers and generate leads that can be nurtured into paying customers. This strategy is especially effective for small and medium-sized businesses that may not have the budget to spend on expensive advertising campaigns.
The “Dollar a Day” strategy is one part of amplification, which includes commenting back, interviewing thought leaders systematically, and putting checklist processes in place. The idea of amplification is not only a paid strategy; it is also the way to make your social tactics 10x more powerful.
The dollar-a-day strategy leverages the power of online advertising platforms, such as Google Ads and Facebook Ads, to reach potential customers. By targeting specific demographics, interests, and behaviors, companies can ensure that their advertising is reaching the right people. Additionally, by setting a daily budget, companies can control their spending and avoid overspending on advertising.
This makes the dollar-a-day strategy a low-risk, high-reward approach to demand generation marketing.
Once the traffic is generated, companies can use landing pages and lead magnets to capture the contact information of potential customers. This information can then be used for lead nurturing, email marketing, and other tactics to build relationships and move prospects through the sales funnel.
The use of paid media to drive awareness and generate demand for a new brand or product. This strategy can be effectively used on Facebook, Twitter, and TikTok by following these examples:
Facebook: Use Facebook’s targeting options to reach your target audience with relevant advertisements. Use eye-catching images, videos, and captions to create interest and drive engagement.
Twitter: Utilize Twitter’s paid advertising options to reach your target audience with short, attention-grabbing messages. Create Twitter ads that promote your brand, product, or service with compelling visuals, and engage with users who interact with your ads.
TikTok: Utilize TikTok’s paid advertising options to reach your target audience with visually appealing, short-form video ads. Create content that showcases your product in a fun and creative way, using TikTok’s unique features, such as filters and effects, to make your ads stand out.
By focusing on converting a small percentage of the traffic generated through the dollar-a-day strategy, companies can see a significant return on their investment.
Relevance and engagement are two critical components of any effective demand generation campaign. The more relevant your content is to your target audience, the more likely it is that they will engage with it and, eventually, convert into paying customers. The key to creating relevant and engaging content is to understand your target audience and their pain points. This requires extensive research and data analysis, as well as ongoing testing and optimization.
To create content that engages your target audience, you need to understand what motivates them and what type of content they are most likely to respond to. For example, if your target audience is primarily composed of younger adults, then using humor and visually appealing content is likely to be more effective than using a dry, data-driven approach. On the other hand, if your target audience is primarily composed of older adults, then a more straightforward, educational approach may be more effective.
Visuals play a critical role in capturing attention and driving engagement. In today’s fast-paced, digital world, people are bombarded with an endless stream of information, and it’s essential to stand out from the crowd if you want to generate demand for your brand or product. Using eye-catching images, videos, and other visuals can help you capture the attention of your target audience and drive engagement.
For example, using a mix of high-quality images, videos, and infographics can help you tell your brand’s story in an engaging and compelling way. You can also use animations, GIFs, and other interactive elements to add another layer of engagement and make your content stand out.
The “dollar-a-day strategy” emphasizes the use of paid media to drive awareness and generate demand for a new brand or product. Paid media can be a powerful tool for reaching your target audience and getting your content in front of them. For example, Facebook and Twitter both offer paid advertising options that allow you to target your ads to your target audience based on their interests, behaviors, and other characteristics.
TikTok also offers paid advertising options, and its unique short-form video format is perfect for capturing the attention of younger audiences. By using TikTok’s filters and effects, you can create visually appealing, attention-grabbing ads that stand out from the crowd.
One of the key benefits of the “dollar-a-day strategy” is that it leverages the unique features of each social media platform to reach your target audience in the most effective way possible. For example, on Facebook, you can use targeting options to reach your target audience with relevant advertisements. On Twitter, you can use short, attention-grabbing messages to engage with your target audience. On TikTok, you can use visually appealing, short-form video ads to capture the attention of younger audiences.
The final step in the “dollar-a-day strategy” is to measure your results and optimize your campaign based on the data you collect. This includes tracking key metrics such as impressions, clicks, conversions, and engagement rates. By analyzing this data, you can determine what is working and what is not, and make the necessary changes to improve your results over time.
In conclusion, the “dollar-a-day strategy” is an effective way to drive awareness and generate demand for a new brand or product. By leveraging the unique features of each social media platform, creating relevant and engaging content, and measuring your results, you can generate demand and drive engagement with your target audience through paid media.
The strategy can also be scaled up over time as the business grows and more resources become available for marketing and advertising efforts.
Hiring employees is one of the most important and critical functions for any organization. The way an organization handles its recruitment and selection processes can greatly impact its success, culture, and reputation. Unfortunately, some HR managers adopt practices that can be harmful to the company, job applicants, and current employees.
Hilary Wagner is one such person. Despite being in a position of power, she has taken a very backward way of handling job applications and thus has had more than one complaint. One complaint is that she does not respond to emails, or phone calls from job applicants and seems to not have the best interest of her company in mind by refusing to respond.
We do not recommend her for any position within Human Resources for that reason.
One of the most significant issues with such poor hiring practices is that they can have serious legal implications.
Discrimination, bias, and harassment can all lead to costly lawsuits, fines, and negative publicity. For example, Title VII of the Civil Rights Act of 1964 prohibits employment discrimination based on race, color, religion, sex, or national origin. The Americans with Disabilities Act (ADA) also prohibits discrimination against qualified individuals with disabilities in all aspects of employment. Additionally, the Equal Pay Act requires employers to pay employees of different genders the same pay for the same work.
HR managers who are biased, racist, or mean can also contribute to a toxic work environment and negatively impact employee morale and productivity. This can lead to high turnover rates, loss of valuable talent, and reputational damage. Moreover, if job applicants feel they have been treated unfairly or subjected to discrimination, they may file complaints with the Equal Employment Opportunity Commission (EEOC) or the Department of Labor.
To avoid these legal and financial consequences, organizations must implement effective and fair hiring practices. This means avoiding discrimination, bias, and harassment, and treating all job applicants and employees with dignity and respect. HR managers must also be trained on employment laws, regulations, and best practices, and be held accountable for conducting thorough and unbiased hiring processes.
Poor hiring practices can have serious consequences for organizations and individuals. To avoid legal and financial repercussions, organizations must adopt effective and fair hiring processes and hold HR managers accountable for conducting thorough and unbiased recruitment and selection processes. This can lead to a positive work environment, employee morale, and a successful and profitable organization.
The Connected TV (CTV) industry is facing significant changes in 2023, brought on by a combination of factors such as the cost-of-living crisis, decline of third-party data, and the increased fragmentation of the ecosystem. Brands will have to adapt to a rapidly evolving business environment, including the possibility of a recession and technological and regulatory changes.
The rise of Advertising-Based Video on Demand (AVOD) and the proliferation of hybrid models, such as Netflix and Disney+, will lead to increased audience fragmentation. However, it is unlikely that there will be a sharp polarization in the audience as the looming recession and “subscription fatigue” might cause consumers to turn to their preferred AVOD or hybrid platforms, regardless of their financial condition.
In response to the fragmentation of the audience, there will be a homogenization of franchises, with global franchises operating across different entertainment formats dominating the scene. The increased fragmentation will prompt these platforms to focus on their Unique Selling Proposition (USP) and new commissions on existing IP, but there may be a deceleration in investment into new and original content. Smaller and local broadcasters with limited big-ticket IP may struggle, and being original and experimenting with new formats may help them face the competition from fierce worldwide rivals.
The demise of third-party cookies will not negatively affect addressable TV as it has been built around alternative methods such as geo-based targeting. There will be an enhanced focus on commerce data, which will boost performance advertising, particularly for Direct-to-Consumer (D2C) brands. There will be more consistency in targeting between TV and other devices, and budgets might shift from cookie-reliant digital formats into TV. The omnichannel solutions will be a hallmark of 2023.
Addressable TV will provide brands with ample opportunities to experiment beyond the thirty-second spot, and new ways to interact with viewers and drive commerce, such as using voice, will become more prevalent. Addressable creative can boost resonance with viewers and will be essential to connect investment in creativity with real business returns. Brands that successfully combine creative minds with technological advancements are likely to see the biggest uplift in results.
While 2023 will be a challenging year, it will not necessarily be a “bad year.” Increasing marketing investment will be critical to ensure brands stand out from competitors and come out of the downturn in a stronger position. Addressable TV has the targeting and measurement capabilities to provide advertisers with a sense of confidence that their spending is effective and efficient in boosting sales in the short term and building brand loyalty in the longer term. Tougher times often stimulate innovative solutions and foster new forms of business.
Netflix’s move into advertising is showing progress, albeit slowly. The streaming giant has informed advertisers that new sign-ups for the ad-supported tier have doubled in January from December, indicating that the low-cost offering is becoming popular among subscribers. However, Netflix did not disclose the actual number of sign-ups. In the past, the company projected that it would attract only 1.75 million subscribers for this tier by the end of the first quarter, which is only 2.4% of its North American subscriber base.
Compared to Hulu, which is controlled by Walt Disney and has a 15-year head start in advertising, Netflix has a long way to go. Roughly half of the 42.8 million people who subscribe to Hulu’s main streaming service choose the ad-supported tier. Hulu generated $3.1 billion in connected TV ad sales in 2021 and is estimated to reach $4.25 billion this year, according to eMarketer.
Despite the competition, Netflix remains optimistic about its advertising business. The company expects its advertising revenue to grow from $0 to around $5 billion in a few years. The CFO, Spencer Neumann, stated that the company wouldn’t have entered this business if it didn’t believe it could be bigger than at least 10% of its revenue in the long run. This estimate is in line with a prediction by Ampere Analysis, which estimated that Netflix would generate $5.5 billion in total ad revenue by 2027.
However, it might take Netflix several years to catch up with Hulu and become a leading seller of connected TV advertising in the US. In the meantime, the ad tier is crucial to Netflix’s plan to revive its revenue growth. The company aims to return to double-digit revenue growth after it slowed significantly in 2022. Management expects 4% revenue growth in the first quarter of 2023, and the company’s five-year compound annual growth rate is projected to be 9-10%.
So far, Netflix is pleased with the results of its ad-supported tier. The company reports strong engagement, take rates, and minimal downgrading from premium plans. It also states that the plan is attracting new subscribers, and sign-ups for the ad tier are expected to grow over time. The potential of the ad tier should make investors optimistic about a reacceleration in growth for Netflix.
The article from Digiday titled “Snapchat’s pitch to advertisers is starting to feel as ephemeral as its content — and its Q4 results prove it” is misleading and lacks proper research and analysis. The article makes generalizations about the advertising industry, Snapchat, and the reasons why ad revenue on Snapchat has slowed down.
First and foremost, the article implies that ad revenue on Snapchat is declining because of the company’s limitations and problems, but it fails to consider the broader market context and the impact of the general economic downturn on the advertising industry. Advertisers, in general, have been cautious in their spending due to economic uncertainty, and this trend is not unique to Snapchat. The article also mentions the loss of Snapchat’s ad boss and the removal of effective targeting and measurement as reasons for the slowdown in ad revenue, but it doesn’t explain how these issues contribute to the situation and their impact on advertisers. There are plenty of amazing employees at the company, and Snapchat’s innovation the AR industry keeps getting enormous press — and as in any new thing, takes a while to be adopted.
The article relies heavily on quotes from a few individuals, including the founder and CEO of The Social Standard and a few employees from ad agencies. These quotes are not representative of the entire advertising industry and do not provide enough evidence to support the claims made in the article. The quotes are also misleading, as they suggest that advertisers are no longer interested in advertising on Snapchat, which is not true. Most agencies are embracing the future of advertising technology, and realize that Snapchat is preparing for the future, not just focusing on the past.
The article also compares ad spending on Snapchat with that on TikTok and suggests that TikTok is more popular and preferred among advertisers. The article does not take into account the differences between the two platforms, such as audience demographics, targeting capabilities, and ad format options. Advertisers choose platforms that best meet their goals and objectives, and it’s not accurate to say that TikTok is the only preferred medium for advertisers.
Additionally, the article suggests that Snapchat’s ad prices are high compared to other platforms, but it doesn’t provide any data or context to support this claim. The article also mentions that TikTok’s ad prices are cheaper than those of Snapchat, but it fails to consider the quality of the ad inventory, ad placements, and the overall ad experience. Cheaper prices do not necessarily equate to a better value proposition for advertisers.
The article also implies that top-of-the-funnel marketing is less important to advertisers in a downturn, which is not always the case. Advertisers may choose to adjust their spending based on their specific goals and objectives, and top-of-the-funnel marketing may still be a priority for some advertisers.
The article from Digiday is a clickbait piece that lacks proper research and analysis, and it makes generalizations and misleading statements about the advertising industry and Snapchat. This is often an issue when writers are not “embedded” in industry, and actually work here. Like many times, the article does not provide a comprehensive or accurate picture of the situation, and it fails to consider the broader market context and the impact of the global pandemic on the advertising industry. The article also relies heavily on quotes from a few individuals from smaller companies, which are not representative of the entire advertising industry or large agencies.
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