Welcome back to another week of What's Working in Marketing, a weekly newsletter where we share what's working outside your own four walls across the digital marketing landscape so you can be more effective.
Welcome back to another week of What's Working in Marketing, a weekly newsletter where we share what's working outside your own four walls across the digital marketing landscape so you can be more effective. If you enjoy reading this,follow me on LinkedInor create aFREE Insight Library account, our team is publishing tons of free research that you won't want to miss.
This week we're breaking down:
The Highlights:
Unwrapping Meta's report on key factors influencing customer decisions
Trending Research:
Learning how the bike and bike accessory industry increased ad spend by +63% in Q3 2022
#MarketingTwitter
Diving into three Tweets about simple social media strategies, how Airtable is leveraging search intent and why you shouldn't be restricting your influencers
KEY FACTORS INFLUENCING CUSTOMER DECISIONS
Meta has released a report diving into the key factors that impact customer decisions. The report focuses on the benefit of an omnichannel strategy but through the frame of key touch points. The touch point report aims to understand the effectiveness of brands in South East Asia highlighting brand efforts that customers remember having specific engagements and encounters with.
Here are the main points from the report:
Video has the highest engagement rate of all content types. Whilst TV is considered the most influential video touch point, Facebook is one of the most efficient video channels due to accelerated digitization and increased mobile video consumption.
As a brand it's time to expand beyond traditional TV activations and engage more in online video production.
Ride the rise of the social commerce trend to drive product discovery and lower funnel objectives with online marketplaces.
Use social media to reach customers anywhere and at any time.
Provide a frictionless shopping experience - take customers from your Instagram or Facebook page, directly to your online shop
Capitalize on recommendations to drive purchase decisions by investing in Influencer Marketing on social media, especially when reaching Gen Z.
The study results show that in general Gen Z is more responsive to social media and influencer recommendations when it comes to making purchase decisions.
Maximize impact of long term brand health by creating synergies with owned and paid media.
Focus on first optimizing and leveraging your owned social media channels before diving too deep into paid ads. Develop your online brand, then be selective and open to testing when it comes to social ads.
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HOW THE BIKE & BIKE ACCESSORY INDUSTRY INCREASED AD SPEND BY +63% IN Q3 2022
SPORTING GOODS & OUTDOOR
The Bikes & Bike Accessories industry increased ad spend significantly in July 2022 with a +77% increase MoM in the United States.
Key Takeaways
Ad Spend — By Platform: Ad spend on Facebook, Display, Instagram, and YouTube has continually increased since January 2022, with Facebook experiencing the most significant increase in Q2 2022. Facebook received the highest ad spend ($11.6M) followed by Display ($3M) and Instagram ($2.8M). 48% of the total OTT spend was allocated to streaming services other than Hulu, Pluto TV, Peacock, Tubi and Paramount. The top publishers for display ads were Bicycling ($297K) followed by Drudge Report ($215K).
Ad Spend — By Brand: The top advertiser in the Bike & Bike Accessories category was Aventon ($6.3M) followed by Lectric eBikes ($2.5M) and Rad Power Bikes ($1.5M).
It's full of strategy tear-downs and examples from fast-growing brands that have already helped thousands of marketers identify content opportunities, focus on the right whitespace channels, improve their media strategies, and benchmark against competitors.
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