As the year ends and the festive ambiance fills the air, December introduces a whirlwind of excitement in the realm of digital marketing. Amid the holiday cheer, this month witnessed spirited shifts in the industry, unveiling new data insights, platform updates, and features that mark the end of 2023. Continue reading for this month’s digital marketing and industry highlights! Social Media Updates YouTube Reinforces Brand Safety for Growing Shorts Format YouTube is stepping up its game in brand safety for Shorts videos, teaming up with Integral Ad Science (IAS) and DoubleVerify. IAS will provide its brand safety and suitability measurement tool for YouTube Shorts, ensuring ads show up in content that’s brand-friendly. DoubleVerify is also broadening its YouTube brand safety tools to cover Shorts, building on features introduced in July for monitoring viewability and valid measurement. As Shorts continues to surge in popularity with over 2 billion users and 70 billion daily views, these measures aim to attract advertisers and enhance monetization opportunities, emphasizing brand safety and transparency. TikTok is Moving the Needle on Social Commerce Social commerce sales in the US are set to soar past $100 billion by 2025, driven by Gen Z’s growing embrace, increased spending from existing customers, and TikTok’s robust efforts to ramp up sales. TikTok, a key player in the social commerce arena, unveiled its TikTok Shop in September and heavily invested in its logistics network. The platform is gaining ground in sectors like personal care and beauty, contributing to 85% of TikTok Shop sales in September. However, hurdles include dealing with counterfeit products and a reliance on low-cost items from China. In contrast, platforms like Pinterest and Meta are prioritizing shoppable ads. While TikTok has the potential to elevate social commerce, particularly among Gen Z, it may encounter challenges competing with retail giants like Amazon for essential and bulk purchases. 1 in 3 Gen Zers Have Bought from an Influencer-Founded Brand in the Past Year In the past year, 33% of US Gen Z consumers have made purchases from brands founded by influencers, outpacing millennials at 29%, according to a Morning Consult survey. 1 in 3 Gen Zers have bought from an influencer-founded brand in the past year and have evolved beyond being brand advocates and are now establishing themselves as standalone media channels with diversified platforms and revenue streams. The success of influencers in this space is attributed to authentic alignment with their brand and a massive reach. Notable influencers among US teens in fall 2023 include Alix Earle and MrBeast, with the latter already selling his products, and Earle in the process of launching her brand. The data suggests that brands can consider collaborating with influencers to stock and sell their products, recognizing the trust that Gen Z places in influencers. New Report Finds Facebook and IG Reels Outperform TikTok Clips in Driving Views Emplifi’s recent dive into video performance points to the perks of adding more Reels into your content mix for 2024. The analysis, spanning various posts on Facebook, Instagram, and TikTok, unveiled Instagram Reels as the winner in terms of brand content view counts, especially those going beyond 90 seconds. Surprisingly, Facebook Reels also stole the show, clocking over three times more median views than other video content on the platform. Despite Reels stealing the spotlight, Emplifi highlights that Stories still dominate Instagram. This suggests a potential opportunity for brands to rethink their content strategies, considering up-and-coming formats like Reels for broader reach and engagement across Meta’s apps. Industry News 79% of Top Marketing Executives Report Boost in ROI Using AI Tools According to BrightBid, the ad tech platform for Google Search, 84% of marketing leaders are currently using AI tools in their digital advertising strategies. These tools are a hit, with 79% saying they’ve had a positive impact on their return on investment. The main uses for AI include automation, efficiency improvement, and getting better results. Among the AI technologies, Generative AI, especially ChatGPT, is the crowd favorite. However, 8% of marketers aren’t using AI tools at all, mainly due to concerns about data quality, budget constraints, and lack of familiarity with the technology. About 71% of respondents are worried about the ethics of using AI, highlighting the importance of open discussions on regulation. These insights come from an exclusive survey of 200 marketing leaders in the UK and are detailed in BrightBid’s white paper, “The truth about AI tools: insights from a UK marketer’s point of view.” Advertisers Will Ramp Up Spend on Creators in 2024, IAB Forecasts A report by the Interactive Advertising Bureau (IAB) and TalkShoppe shows that 44% of surveyed advertisers plan to spend more on content creators in 2024, with an average increase of 25%. The creator economy, valued at $250 billion this year, is expected to hit $480 billion by 2027. Advertisers are increasingly interested in creators because of their vibrant and engaging content that resonates with what consumers like. The report points out that ads around creator content are effective in different stages of the shopping process, including consumer research, consideration, brand loyalty, and advocacy. Creator content is a big reason why people are watching more digital videos. Ads around creator content make a bigger impact on the consumer journey than studio content, signaling the growing importance of the creator category in advertising. 12+ Predictions for the Tech Marketing World in 2024 Coinbound, a tech-focused agency, predicts exciting trends for the tech marketing world in 2024. Expect increased personalization through AI, a rise in immersive technologies like AR/VR, a focus on voice search optimization, and a spotlight on sustainability and ethical marketing. Video content takes center stage, and the expansion of 5G promises faster internet for data-heavy strategies. Decentralized web and Web3 marketing, along with increased data privacy concerns, will shape the marketing landscape. Interactive content, performance-led marketing rooted in analytics, and AI-driven content creation are key players. Influencer collaborations, virtual events, and webinars continue to shine, while a shift to value-driven messaging and an evolution in e-commerce marketing provide fresh perspectives. The future of tech marketing is ever-changing, and Coinbound is ready to adapt, innovate, and deliver. Here’s What Marketers are Wishing for this Holiday Season Marketers are sharing their holiday wish lists, and at the very top is a dream for a universal platform to handle and track advertising across different channels. With the increasing number of ad networks, attributing success and managing data has become a bit of a puzzle. They’re also crossing their fingers for standardized data, especially in walled gardens like Meta, Amazon, and Google, so that comparing and reporting can be a breeze. Another wish is for generative AI to step up its game and find more practical uses beyond just creating social content. And amidst all the budget concerns, marketers are yearning for a return to creativity, underscoring the importance of engaging ads over excessive automation. Looking to elevate your brand’s digital footprint? Contact our team of marketing experts to implement these trends and insights!
Leave a Reply