🗞️ Links & Thinks from 2023.03.02
Mood Check
More ad spending is down talk. Though it’s comparing to last year, which was a good year. Silver lining (with an interesting second bit):
agency execs say that it’s down roughly 10%, a smaller percentage than many had expected earlier in the year — and marketers are holding onto dollars longer and seeking more flexibility rather than longer-term commitments.
This has the vibe of big agency with big client stuff (remember the splintering) but still worth a read if you’re in the agency world.
The juicy tidbit:
marketers are hedging their bets and spending on more performance marketing rather than brand building efforts
Repeat after me: when marketers move away from an effort it leaves an opportunity behind.
Numbers Games
Worldwide retail growth is forecast at 4% this year, which honestly isn’t bad news. 6% would be better, but things aren’t necessarily great out there and China’s engine status is less V12 and more 4 cylinder these days (spark plugs could be iffy too).
The next few years will see low growth by historic standards but not to a disastrous extent.
Meta Says That its Automated Ad Targeting Tools Have Driven a 32% Increase in ROAS. Fuel on the automation fire burning on Hacker Way.
More Ads in More Places
Pinterest has a swanky (read: expensive) new ad format: Premiere Spotlight. It’s like a masthead video on the search page with a CTA button that runs for 24 hours. Check the link for a screenshot.
File this away for your planning sessions:
But many Pinterest users don’t open the app to browse the feed, nor are they looking for a specific product. Instead, they head to the search page to type in a more general query. Today, 97% of searches on Pinterest are unbranded, company data indicates.
Amazon is testing ads in audiobooks on Audible. Instead of paying for a book you get podcast-style ad breaks, which seems inevitable in this era of ad-supported streaming media tiers.
TikTok Tidbits
TikTok Earned $205 Million More Than Facebook, Twitter, Snap And Instagram Combined On In-App Purchases In 2023. Chinese apps are built around in-app purchases vs. ads, so this will be interesting to watch (its ad business is doing fine). Maybe The Clock App can crack the code elsewhere.
TikTok sets new default time limits for minors, and will add screen time limits more broadly (a la Apple and iOS). Will this impact app engagement?