🗞️ Headlines for 2023.01.24
Mo' Money, Mo' Caffeine?
Caffeine consumption boosts hedonic purchase behavior.
We're talking 2x spend on more items than decaf shoppers. But mainly on impulse type purchases, planned purchases don't get a caffeine boost.
Taking it digital, maybe you should boost ad spend around caffeine consumption times. Or offer AM flash sales.
Growing Your 'Gram
Want to level up your Instagram numbers this year?
Focus on SEO and Reels.
Like Pinterest, Insta uses all available signals to figure out what your post is about. Use that to your advantage and spell it out for the robots.
It may not be "all Reels, all the time" anymore, but the format is still hugely important to the platform. Looking for direction?
Creator Olivia Noceda leverages trending audio with original storytelling to build a lasting community. And saw a 75% increase in follower growth after going Reels-only.
But don't try to go viral.
Stay true to you and the growth will follow.
It's Wally's World
Walmart released their earnings results for Q3 (the quarter ending with October 2022).
Global advertising business grew over 30%, led by 40% at Walmart Connect in the U.S. and strength in Flipkart Ads.
What helped drive this growth?
Switching to a second-price auction mechanic*: where the auction winner pays the bid of the second-highest bidder.
after June, once the second-price auction was introduced, some of Tinuiti’s clients saw dramatic improvements in ROAS, as well as 50% reduction in CPCs.
The trend of shoppers seeking value is helping their store traffic (along with other value-first grocers). Which has the chain focused on customer retention (retention is the new acquisition).
Oh, and the mega-retailer is launching a B2B ecomm site geared towards small businesses and non-profits. (You know, like Amazon Business Prime.)
Is LinkedIn Going After Substack?
LinkedIn will make your newsletter subscriptions visible to others from February 11, 2023. pic.twitter.com/iMK2C3TLPE
— Matt Navarra (@MattNavarra) January 23, 2023
The Playbook
Use Reddit and Twitter to see what your audience really thinks of you.
From Stacked Marketer:
- Twitter: search for tweets containing your company’s name or one of your competitors’. Look for tweets like, “Has anyone used [company name]?” or replies to tweets like “Anyone know a way to [do the thing your product does]?” Sometimes, customers write the copy for you.
- Reddit: See if you can find people talking about your product or similar products and focus on the things they care about.
- Google: People still write product reviews as blog posts. If you can find one for your brand, read what they’re saying.
Just The Headlines
- Ad spending forecast to grow 6% in 2023 as digital priorities shift (I'm tempted to take the over on this prediction, barring a big economic drop.)
- DOJ Poised to Sue Google Over Digital Ad Market Dominance
- Disney+ Announces Exciting New Ways to Show Ads to You and Your Kids (age, gender, and geo-targeting now, then the “full suite of targeting” options available on Hulu)
*I believe Google Ads used to employ this mechanic but has switched to a more dynamic auction system that takes into account ad quality and relevance, etc, so that auctions can be won by lower bids. Essentially rewarding "good" ads with discounts.