This week we're breaking down:

• The Highlights:
  • Discussing the best ways to decide if you should prioritize TikTok or Instagram in 2022
• Trending Research:
  • Breaking down how brands appeal to parents and teens in the growing family banking industry
• Time To Get Listening:
  • Learning about how marketing can break down different silos using language with John Huntinghouse of TAB Bank

• The Watercooler:
  • Embracing taking a step outside of your marketing comfort zone
• #MarketingTwitter:
  • Diving into three threads to understand heuristics in email marketing, scaling & adapting digital marketing agencies & generating $30M from influencer marketing

TIKTOK OR INSTAGRAM?

TikTok and Instagram are undeniably two channels that can hold a lot of potential for your businesses in an organic, cost-effective way. The question many marketers are facing is, which one do we focus on?

Marketing Dive gave a few elements to consider:

👋 Audience: If you are targeting the Gen Z community, TikTok is the place to prioritize. The community is getting broader with 689 million monthly active users but the younger community currently prevails on this platform. (Side note) Age diversity is growing with 50% of TikTok users now reported to be 30 years old and beyond.

⌛ Resources & Time: TikTok is known for its unpolished and organic nature compared to the curated platform that Instagram represents. Due to TikTok's algorithm, going viral and reaching the right people is likely to happen a lot faster and easier than going viral on Instagram & Reels. If you are working with lower budgets and time, TikTok would also be the place to start.  

📲 Content Creators: Historically, TikTok influencers have only been included in 6.8% of social media campaigns with a major focus and priority on Instagram influencers. This presents what we at RightMetric like to call a whitespace opportunity to pave the way for TikTok collaborations in a way that suits your product or service. 

🤝 Community: Again, due to TikTok's algorithm, building a community on TikTok can happen faster than on Instagram, however a combination of both social media platforms will be the best way to optimize your reach and relationships with end-users. Focusing on the value of what you're content is trying to do can relate to broader concepts surrounding your company and why people are flocking to you.  Building a community around those concepts is a great way to engage people even more. 

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HOW BRANDS APPEAL TO PARENTS & TEENS IN THE GROWING FAMILY BANKING INDUSTRY

FINANCIAL SERVICES

The family banking category saw a +143% increase in web traffic from 2019 to 2021, with more new entrants joining the category. In this research, we looked at six fintech companies providing family banking services to 13 to 18-year-olds and their parents.

Key Takeaways

Budget Allocation

• The Category Has Seen a 4X Increase in Advertising Budgets From 2019 to 2020: The brands in the competitive set amplify their advertising efforts before the beginning of the school year and during the holiday season. When it comes to advertising platforms, the majority of the family fintech companies invest in Facebook, Instagram, and paid search.

Messaging

• Family-Oriented Fintech Companies Tend to Target Parents More Often Than Teenagers: Only two companies (Step and Jassby) advertise directly to teenagers. When setting up their ads, the brands tend to target more mothers rather than fathers — about ~70% of brands’ Facebook ad budgets are invested to capture the attention of female audiences.
• “Learn” Is the Most Leveraged Call To Action In The Ads Targeted at Parents: Brands appeal to the value of teaching kids the value of money from early childhood by letting them earn pocket money for doing household chores and make their own judgment as to how to spend their allowance.

How Marketing Can Break Down Silos Using Different Language with John Huntinghouse

VP OF MARKETING AT TAB BANK

On this episode of What's Working in Marketing, John Huntinghouse discusses how marketing can break down silos in the corporate environment with some relatively basic principles he's discovered over the course of his career.

STEPPING OUTSIDE OF YOUR MARKETING COMFORT ZONE

Marketers often overlook new tactics in favour of ones that are familiar. It feels easier, and the common thought process is "let's test these until we know what’s working" – while that's admirable, that approach is wrong and there's a better way. ❌

Here's why the existing way doesn’t work…

👎🏼 Looking at your own past performance is great for things you've done before, but it won’t show you the right way to execute when you’re marketing on a new platform, trying a new strategy, or messaging to a new audience.

👎🏼 If you are keeping tabs on competitors and industry leaders, oftentimes it’s hard to isolate which part of their strategy is actually driving the growth they’re seeing.

👎🏼 Looking outside your own four walls for best-practice examples is a good step, but you need to be able to measure if what they’re doing is actually working for it to be reliable.

THREE TWITTER THREADS

A good strategy is a good strategy, no matter where you find it.

Here are three Twitter threads you should check out this week:

1. Using heuristics in email marketing to generate a +20% increase in clicks

2. Scaling a marketing agency & refocusing efforts to new channels

3. A step by step guide to how an influencer strategy generated $30M over 3 years

In case you missed any previous versions, check them out via the links below.

1. What's Working in Marketing - Don't Fall Behind on Influencer Marketing

2. What's Working in Marketing - It All Comes Down to Strategy

3. What's Working in Marketing - Let's Identify New Channels