Goodbye, Facebook “Potential Reach”. Welcome “Estimated Audience Size”
Facebook will rename “Potential Reach” to “Estimated Audience Size” on October 5, 2021.
There’s more to this change than just a play on words: Facebook was involved in a scandal back in February after a leaked document revealed that its “potential reach” metric was inflated and included fake and duplicate accounts.
Goodbye, numbers. Long live ranges! The new “Estimated Audience Size” metric on Facebook will be a range, not a specific number estimate like “Potential Reach.” Facebook will also switch from numbers to ranges for its Campaign Planner and interest categories.
Why Facebook is avoiding number estimates: The official reason is to “provide metric consistency.” The real reason is (likely) to dodge another lawsuit.
What will change for marketers: In terms of functionality, not much. In terms of having less headaches, a lot…
We’re sure you know the feeling when you start a campaign and a client complains about low traffic because “Facebook promised us bigger (potential) reach!”.
Let’s hope this update will make these squabbles a thing of the past.
Is Augmented Reality the future of shopping? Snapchat and Etsy think so
Imagine you find a cool pair of sneakers online. Instead of going to the store to try them, you put on your AR glasses and have them projected onto your feet.
According to Snapchat’s Head of Marketing, Jacqueline Rutgers, this is the future of shopping. And it is seven times more powerful than influencer marketing. Rutgers also stated that 94% of shoppers who’ve used any AR features say they would do it again.
Etsy seems to agree, having just launched “The Etsy House”, an augmented-reality experience where shoppers can walk into a digital home filled with curated Etsy items.
The best part about this (for Etsy at least) is that the entire house is shoppable. When you hover over a specific item, a pop-up with a link to purchase will appear.
Why do we care: Well think about it…who doesn’t want higher conversion rates? It’s one thing to show a picture of the shirt you’re selling. It’s a whole other thing to show a real-time 3D model projected onto your shopper’s torso.
Be honest, which method do you think will sell more?
Do you buy ads? Here’s some cash for ya!
Once upon a time, a wise media buyer decided to… Nope!
We were trying to come up with a good story – we heard they work – to tell you why you should try dash.fi (formerly known as FunnelDash).
But screw that, life’s too short.
The reason why dash.fi is so good is as simple as it gets:
And everybody likes that.
Here’s the deal: Every time you spend a dollar on advertising, whatever the ad network, you get up to a 3% cashback.
If you spend $100k per year, you get $3000. If you spend $1M, we’re talking $30k.
You can use them to buy a Toyota or a crazy weekend in Tulum. Whatever you prefer.
- Unlimited free virtual debit and credit cards.
- Advanced spend, budget, and pacing controls.
- Built-in fraud protection and bank-level security.
- No interest or annual fee.
The holiday season is getting close, and we suppose you’ll spend a lot on ads.
The secret sauce behind Harry’s successful launch
77,000 free email addresses.
That’s the secret.
Okay, wait. We actually do have a little bit more to add to that…
Let’s build some context first: The Harry’s we are talking about isn’t the iconic bar in Wall Street. It’s a DTC brand and their UVP (unique value proposition) will get you an idea of what they sell:
“Quality Shaving & Grooming Products, at a Fair Price”.
The company was launched in 2013. In 2019, it was acquired by Edgewell Personal Care for $1.4B. (That’s a lot of moolah.)
Alex Garcia explained here how they had a successful launch that helped them gain that initial traction necessary to become a 10-figure mammoth in just 6 years.
The week right before their launch, Harry’s collected 100k emails.
According to their co-founder, Jeff Raider, 77% of those emails were acquired at no cost to them.
How did it happen?
Most companies use a funnel to generate customers. However, the problem is that to get more leads and customers you need more traffic.
Instead, Harry’s used a growth loop.
Think of a growth loop like a closed ecosystem; it feeds itself. In Harry’s case the growth loop was a referral system. And it worked like this:
Ads → Squeeze page to get an email subscriber → Referral page to get the new subscribers to invite new people.
This makes the growth exponential rather than proportionate to the traffic you generate.
With this method, every new subscriber brought Harry’s 2 new additional subscribers, reducing their overall cost per lead three-fold.
Why was the referral system so freaking successful?
Gamification! Harry’s did a few things to help incentivize their subscribers:
- Each new subscriber was told that he could get Harry’s goods for every new subscriber he referred.
- There was a progress bar on the referral page showing how many points one generated.
- With enough referrals, subscribers could start shaving with Harry’s products for free.
They also made it easy for subscribers to refer other people by using ready-to-share referral links and a pre-populated message subscribers could share on social media.
Users didn’t even have to think about what to tell their friends. Harry’s did it for them. They even tagged themselves in the message to help build popularity on social platforms.
E-COMMERCE: Last chance to join The Black Friday Summit – a 100% virtual, 100% live, and 100% free event. Savannah Sanchez, Chase Dimond, and Nik Sharma are just 3 of the 50+ speakers. Expect 10+ Black Friday Cyber Monday topics across 3 days, between October 2-4. Grab your free spot.*
PPC: Bye bye, unexpected spending. Google is making it easier to see how much you spend on ads for the day (and month).
FACEBOOK: Donation ads on Facebook are here. If you’re a non-profit, this might be the best thing since sliced bread.
PINTEREST: Halloween is near. While it’s too early to be scared of scary pumpkins, you should be afraid if you’re not aware of the Halloween trends. They are quite different from previous years, according to Pinterest.
PPC: Tracking non-click conversions is hard. Google’s enhanced conversion tracking to the rescue! The company announced they’ll be rolling out enhanced conversions in beta to eligible advertisers.
E-COMMERCE: It seems that accelerator programs designed for e-commerce companies are popping up more and more. ShipHero’s program is the most recent addition to the list.
SHOPIFY: Your favorite Shopify app may soon get more cool features. Shopify released an October 2021 version of their API.
TOOLS: Cloudflare keeps turning things-that-were-difficult-and-expensive into things-that-are-easy-and-cheap. This time, they did it with live streaming.
*This is a sponsored post.
What 5 letter word typed in all capital letters can be read the same upside down?
You can find the solution here.
Cool tech, (funny) business, lifestyle and all the other things marketers like to chat about while sipping cocktails by the pool.
Google says Bing’s top search term is… Google
Who doesn’t like rivalries?
This time, Google is taking on Microsoft.
The EU is currently suing Google for antitrust issues (surprise surprise). To defend itself on Tuesday, Google said it’s, um, the most-searched term on Bing.
Why Google did this: Apparently, because they think this proves that “people use Google because they choose to, not because they are forced to.”
Not the first time: Three years ago, Google’s CEO, Sundar Pichai, published a similar post about Android, arguing that “Android has created more choice, not less”. Google was still fined with $5 billion.
Let’s see if history repeats itself.