TikTok plans to introduce in-app shopping
TikTok wants a bigger slice of the e-commerce pie. We reported last month that TikTok is working on new ad formats for e-commerce retailers.
Not enough: It appears that the social network’s goal is not only to drive traffic to e-commerce sites, but also to be the e-commerce site itself.
According to Bloomberg, TikTok is testing in-app shopping in an attempt to compete with Facebook.
Why they’re doing it: One of the main reasons is that Duyin, TikTok’s Chinese cousin, processed $26B in e-commerce transactions in its first year of operation. TikTok would love to replicate that success abroad.
Who’s getting access so far: The social media platform is working with European retailers on an in-app shopping experience for streetwear-type products.
What this means for you: If you’re looking for the next major e-commerce acquisition channel, TikTok appears to be the frontrunner. Over the last two months, they’ve released a slew of updates, including improved targeting, increased advertiser support, new ad formats, and now in-app shopping.
Keep the updates comin’, TikTok!
Yelp launches a major upgrade
Yelp just did a major upgrade of its ad targeting options. Here are the main updates that were introduced:
- Custom Location Targeting (CLT). Previously, you could only advertise within a certain radius of the business’s location. You can now select any location.
- A new Connected Audience Model: Yelp Connect is the Yelp equivalent of a Facebook post. Previously, you could only target people who had followed or bookmarked your Yelp listing. With this update, you’ll be able to also target people who have engaged with businesses or searched for relevant categories on Yelp.
- Updated budget recommendations: Previously, you could see information such as “what budgets are popular for similar businesses.” Yelp is now using additional AI magic to provide you with more tailored recommended ad budgets.
The main theme of these updates is increased reach. You will no longer be restricted to targeting specific locations or interests, but will be able to reach the entire Yelp network.
60% of marketers say this is the highest ROI channel and it’s not email
You know what we are talking about, right?
It’s a 300 year old channel that has been proven to generate billions of dollars in sales. We’d say it’s still underused and it can be your blue ocean strategy as an online business.
It’s direct mail baby!
OK, so why do we know 60% of marketers say direct mail is their highest ROI channel? Because we asked the experts at Lob, a company that helps businesses automate their direct mail campaigns. And that stat comes straight from one of their research surveys.
Are you wondering if direct mail could work for you? Well, read here:
- 64% of businesses interviewed said that direct mail delivers the highest response rate of any marketing channel they use.
- Over half of all companies see response rates of 5% or greater across all types of campaigns.
- While direct mail can have higher campaign costs than digital channels, especially compared to email, respondents indicated that they are able to consistently realize high ROI from their campaigns. With 60% of them seeing in direct mail the channel with the highest ROI.
- 60% of respondents believe that within the next five years direct mail will become the easiest channel for targeting consumers.
And thanks to platforms like Lob, launching a direct mail campaign today is easier than ever. This channel could help you get three steps ahead of your competitors.
PS: Direct mail is also great for engagement, retention and advocacy. Take a peek at the free Retention Marketer’s Playbook to learn how.
Mark your calendar (again)
We mentioned this in yesterday’s newsletter, but we didn’t include the proper link for you to join. So, here’s a refresher:
If you want to know some of the people behind this newsletter, and if you’ve got any burning questions to ask, join us for an hour this Thursday, 12 May (open in the browser, not calendar app). We’ll be talking newsletters, marketing, and a sneak peek at some of the insights from next month’s deep dive.
What you need to enter: Nothing! No caveats or sneaky sales here. There’s also no registration required. Just add it to your calendar and find the Zoom link here.
Because of the Zoom plan we’re running, the call will be limited to 100 people. You’ll join with your mic and camera off so don’t worry about the call-joining awkwardness plague that we’ve been enduring for the past year.
And if you can’t make it but want to hear The Crew answer some questions, shoot us a reply to this email and we’ll do our best to get to them. We’ll share a recording of the call afterwards.
Marketing insights from the pharma industry
Recently, TheMarkup published a report in which they examined how the top pharma companies use Facebook targeting. There were some interesting discoveries and insights that could be useful in your own campaigns.
First of all, what you can’t do: You cannot use custom audiences in the pharma industry. This means you can’t upload an email list of people with a specific health condition and target them with ads. So instead, you turn to…
The Markup discovered that awareness of a disease was a frequent proxy for big advertisers’ targeting decisions.
GlaxoSmithKline’s Zejula drug, for example, is used to treat advanced ovarian cancer. So, the drug was targeted at Facebook users who had expressed an interest in “cancer awareness.”
Or take Piqray, another cancer treatment. It’s produced by Novartis, a Swiss pharmaceutical company. They served ads to users who were interested in “National Breast Cancer Awareness Month.”
Here are some other awareness targeting examples:
- “Stroke awareness?”, by Brilinta
- “Multiple sclerosis awareness?”, by Mayzent.
- “Chronic obstructive pulmonary disease awareness?”, by Trelegy.
It makes sense: If you’ve discovered that you have a medical condition, you’ll probably want to learn more about it. You’ll look at specific Facebook pages about it, visit specific websites, and possibly try to find different support groups.
The most important thing is to be sensitive and compassionate about these issues. Human health is something we all value and cherish, and the last thing we want is for someone to use exploitative advertising tactics to target those groups of people.
And finally, zooming out: This tactic can work for more than just pharma brands. Think about what interests your customers have, and advertise through those channels.
For example, if you have a wallet that’s targeted towards outdoorsy people, try sponsoring a Jeep page on Instagram. This zoomed-out approach can work wonders for your marketing.
SOCIAL MEDIA: What are the best times to post on Facebook, Twitter, Instagram, and LinkedIn? Sprout Social has analyzed data from over 20,000 users to provide you with the most accurate answer.
GOOGLE: The search engine will host a marketing livestream on May 27th. Snapchat is hosting one today.
ADVERTISING: This is why you should take industry research with a grain of salt. An audit discovered that Nielsen undercounted viewers during the pandemic.
APPLE: An insightful analysis of how Apple’s ATT update “robbed” Facebook of millions of dollars.
YOUTUBE: Prepare to see more TikTok-style videos in the YouTube app. YouTube has announced that certain parts of Shorts will be expanded globally.
I can be quick and then I’m deadly,
I am a rock, shell and bone medley.
If I was made into a man, I’d make people dream,
I gather in my millions by ocean, sea, and stream.
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.
Here’s Mark Zuckerberg’s goat
She’s adorable. Her name is…Bitcoin.
Yeah, we’re serious. Actually, Mark has 2 goats. The first one named Bitcoin, the second named Max.
Cute. Now let’s move on with our lives… Right?
Well, no, at least not according to crypto enthusiasts who have taken this on a whole new level. Is Zuckerberg a Bitcoin maximalist (because you know, one goat is named Max and the other Bitcoin…) Or maybe he wants to own the max amount of bitcoin?
Facebook has an annual shareholder meeting on May 26th and the Bitcoin community is speculating that Mark’s about to announce something.
Maybe he’ll even take his goats with him.