Here are the effects of Apple’s IDFA update
CPMs are skyrocketing. Lookalike audiences are dwindling. Contextual advertising is becoming more popular. And marketers are swearing at Apple.
While the last one depends on how many nerves you have left, the first three are some objective effects of Apple’s IDFA changes, as highlighted in a Customer Acquisition roundup post.
Here are some key figures for you stats nerds:
- On Facebook, the average CPM has increased by 47 percent.
- Unity, which captures 50 billion in-app events per day, has noticed a shift toward more contextual ad models following IDFA.
- Consent rates are as high as 40%. That may be good news, but it means that you’re missing out on properly attributing 60% of your traffic, which results in…
- Inflated organic attribution as users fall outside of the strict 48-hour SkAdNetwork reporting restriction.
What you can do to survive (and thrive):
- Create 20-50 new creatives (since 85-95 percent of new creative concepts fail).
- Remain consistent with creating (because creative fatigue is real). According to some reports, winning ads last only 10 weeks.
- Consider doing more contextual and interest-based advertising if you’re seeing diminishing returns from Custom and Lookalike audiences.
Get on this quickly. Those who adapt the fastest, survive.
TikTok is quickly becoming a full-fledged storefront
Out-execute everyone. This appears to be TikTok’s mantra, with new updates arriving at the speed of light.
The latest update, as reported by some Twitter users involves TikTok incorporating a fully shoppable e-commerce experience into its app.
To put it simply, everything you do within TikTok, from seeing an e-commerce product ad to purchasing the actual product, occurs within TikTok.
Why we care about this: In general, the easier something is to buy, the more people will buy it. TikTok is well aware of this and knows that many e-commerce merchants will flock to the platform once it goes live.
The Crew’s take: If you’re in B2C and haven’t tried TikTok yet, it might be a good idea to run some test ads to see if you can get some conversions. Then, when this comes out, you’ll just hook everything up and instantly increase your conversion rate.
Want a $50 gift card?
If your company is sending gift cards to customers and/or employees, WeGift will send you a $50 gift card when you take a demo of their platform – no joke.
Why should you check out WeGift?
Incentive marketing is powerful. People love rewards. And by sending them gift cards, you can stimulate purchases and boost loyalty.
WeGift makes it super easy to do just that. They are a gift card distribution platform designed to help companies send digital rewards at scale.
Perkbox, for instance, used WeGift to increase their sales by 50%. Vodafone leverages WeGift to build stronger relationships with their base of over 1.5 million customers.
Thanks to their powerful API, you can simply integrate WeGift with other systems to automate your gift card distribution process.
Not to mention, you can save up to 25% on gift cards from over 600 global brands. If recipients forget to redeem their gift cards, you can reclaim that unspent value and get your money back.
Sounds too good to be true? It’s not. See for yourself.
How to predict your short term company growth
How likely are your customers to recommend your company?
This is a simple question, but it can predict what will happen to your sales next quarter.
Chances are you heard about the NPS (Net Promoter Score) metric, a metric widely used by companies to predict sales.
NPS is based on one question:
“How likely is it, from 0 to 10, that you would recommend to a friend or colleague?”
People who answer 10 or 9 are considered “promoters”, 8 or 7 are “passives”, and 6 to 0 are “detractors”. The score is calculated by subtracting the proportion of detractors from that of promoters.
Thomas McKinlay from Ariyh discussed the effectiveness of the Net Promoter Score, and how you can use it in your business.
Let’s start with some data: An analysis of 193,220 NPS evaluations for 7 of the biggest US sports brands found that:
- A one-point increase in NPS predicted a 1.46% increase in sales the next quarter.
- NPS changes did not predict long-term changes.
- The absolute number of NPS didn’t predict changes in sales. So the static metric doesn’t help. You need to measure the metric several times and see the changes between different time frames.
Here’s how, according to Thomas McKinlay, you should use the NPS to predict your short term growth:
- Regularly survey a sample of all your potential customers – not only current customers.
- Measure the short-term changes in the score. A static NPS won’t help to predict your growth.
If your NPS increases, your sales are going to increase in the short term (i.e. the next quarter).
If it decreases, use it as a general health warning bell.
Here’s a calculator you can use if you want to try using the NPS in your business.
Bottom line: NPS can be an indicator of your brand’s health. It is best used for products that are bought frequently and have emotional involvement, like fashion goods.
Be mindful: The effectiveness of the NPS in predicting sales will depend heavily on how much data you can gather (and how you gather it).
Hence, your potential customers’ pool must be quite large to get significant data.
YOUTUBE: The world’s second-largest search engine is getting a makeover. You’ll now be able to see not only videos but also video chapters in search results.
WORDPRESS: Running SEOPress on WordPress? You might want to update this plugin. There’s a critical security flaw that puts 100k websites at risk.
AMAZON: What’s the fuss about Amazon banning many Chinese sellers? This article explains why.
ADVERTISING: What if all ad tracking mechanisms disappeared tomorrow? Cookies? Gone. IPs? Cloaked. Local storage? Removed. Your next best bet would (probably) be probabilistic attribution.
SECURITY: Secure your ad account to avoid something like this happening to you. Hackers are becoming so sophisticated that even PayPal will not believe you aren’t withdrawing $50,000 from your bank account to spend on Facebook.
Mike is a butcher. Everyone from the Crew loves him. He is 5’10” tall. What does he weigh?
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.
How do you get people to adopt animals? Put them on Tinder
Imagine you’re running an animal shelter. Getting people to adopt homeless dogs is hard enough. Then COVID hits and things get even harder. What are you supposed to do?
This German shelter came up with an ingenious plan: Get a professional photographer to shoot pictures of the animals they have and put them on Tinder.
The result? A purrfect match.
“The response is insane, it’s exploding everywhere.”, said Jullian Moss, a representative of the animal shelter. In other words, people are swiping right en-masse.
This just goes to show that a little bit of creativity goes a long way in marketing.