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Impact of inflation on marketing, Pinterest and TikTok eCommerce updates, and is Google’s market share at risk?

Welcome to my first post. Each week I plan to give an update on all the things you need to know in digital marketing. Please subscribe, follow my account and let me know what you think of this week’s content.

Let’s jump straight in…

The impact of inflation and recession on marketing

Fears around inflation and the next recession are heightening. Along with the all too familiar noise about the need for busineeses to cut advertising spend and marketing budgets.

Last week news broke that a UK government campaign will be launched urging brands to slash prices by cutting back on marketing.

Oh, the irony of using marketing to trash marketing!

Clever businesses know that the key is to adapt rather than to blindly cut.

Research by the Harvard Business Review, published after the last recession, gives a good insight to the risks of cutting back and the opportunity for businesses to gain market share from those that do.

I expect this trend to hold true in PPC as well. We look forward to getting even lower CPCs and CPMs for our clients.

This week, two optimistic stories related to inflation caught my eye and remind us on the importance of remaining agile not fearful during economic turbulence.

Sainsbury’s: Premium sales remain resilient despite cost of living crisis

MarketingWeek reports that customers are trading down to cheaper, own-brand products as the cost of living rises – but premium sales are holding up.

Simon Roberts, CEO, said, “One of the really interesting things we’re currently seeing is that whilst customers are clearly very focused on value for money, they still want to treat themselves – particularly on special occasions,”

Read more here: https://www.marketingweek.com/sainsburys-premium-cost-of-living-crisis/

Currys to focus on loyalty over customer acquisition amid pressures of inflation

MarketingWeek reports: With 80% of UK households already shopping at Currys, group CEO Alex Baldock told investors the retailer isn’t actively looking to grow its customer base further. Instead, the business wants to create “customers for life”.

Read more here: https://www.marketingweek.com/currys-to-focus-on-loyalty-over-customer-acquisition-amid-pressures-of-inflation/

Pinterest and TikTok hit the news this week with their shopping features, but for very different reasons

Pinterest announced that it’s rolling out new merchant features, including product tagging on Pins and a Pinterest API for Shopping. The company says all of the new features are designed to make it easier for merchants to create engaging shopping experiences for users.

Read more: https://techcrunch.com/2022/07/07/pinterest-launches-new-shopping-features-for-merchants/

Meanwhile, TikTok disputes reports in the Financial Times that they are abandoning plans to roll out their live ecommerce feature in Europe.

TikTok Shop launched in the UK last year. It allows brands to broadcast live and sell products through the app – pretty cool stuff! Was you aware of this feature?

Read the full report here: https://www.prweek.com/article/1792156/tiktok-disputes-report-abandoning-live-shopping-expansion-europe

Is Google’s market share at risk?

According to Search Engine Journal, Google currently accounts for 90% of all internet searches worldwide.

In response to the Digital Services Act (DSA), Google rivals such as DuckDuckGo, Ecosia and Qwant presented 10 principles for fair choice in search engines and effective switching.

Adoption of these principles could see rival search engines claiming a more significant piece of the search engine market.

This could have a huge impact on digital marketing, especially SEO, as strategies would have to be radically adapted for multiple platforms and their algorithms.

Read the full report by Search Engine Journal here: https://www.searchenginejournal.com/duckduckgo-ecosia-qwant-pen-open-letter-on-fair-choice/456895/

Some more Google related news this week.

Google Search Console Insights For GA4 Properties Now Available

Google Search Console Insights now supports Google Analytics 4 properties, giving you access to more data. Given Google is sunsetting Universal Analytics next year (Please tell me you’ve made the switch already – it’s super simple!) this update comes as no real surprise.

https://www.searchenginejournal.com/google-search-console-insights-for-ga4-properties-now-available/456932/

The Google Play Store looks to be getting a new logo

Very subtle!

https://9to5google.com/2022/07/06/google-play-new-logo-2022/

Google-backed Glance to launch in US within two months

Apps and advertisers are coming for your lock screen. Apple recently made the iPhone’s lock screen a centerpiece of iOS 16. Now it looks like Android phones will be following suit.

I would rather not have adverts on my lockscreen!

Read more here: https://techcrunch.com/2022/07/05/google-backed-glance-to-launch-in-us-within-two-months/

Google News Showcase adds The Guardian to its roster of UK publishers

https://www.androidcentral.com/apps-software/google-news-showcase-expands-in-the-uk

Other interesting stories from the week

Twitter begins testing ‘CoTweets’ to allow users to co-author tweets

https://techcrunch.com/2022/07/07/twitter-cotweets-co-author-tweets/

Elon Musk’s deal to buy Twitter is in peril

https://www.washingtonpost.com/technology/2022/07/07/elon-musk-twitter-jeopardy/

Vodafone invites Snapchatters to connect with Emma Raducanu virtually

https://www.marketingtechnews.net/news/2022/jul/05/vodafone-invites-snapchatters-to-connect-with-emma-raducanu-virtually/

Ofcom eyes extending ad breaks in broadcast shake-up

https://www.marketingweek.com/ofcom-eyes-extending-ad-breaks/

Thanks for reading!

I hope you enjoyed this post and found it useful.

Please follow me and subscribe to my Digital Discovery newsletter. I’ll be posting each week about the digital marketing stories that matter.

Oh, and I’m considering doing this content as a video – a first step into video marketing. Think I should make the leap?

See you next week.

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