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Consumer confidence improves in UK; Meta expands ads on Reels; Microsoft rolls out predictive targeting; Key content dates for July, Best Ads & More

Welcome to this week’s Digital Discovery.

Each week we cover the latest developments and everything you need to know in the world of digital marketing. This week we cover:

  • Consumer confidence improves in UK, but marketers urged to exercise caution
  • Meta expands ads on Reels to more marketers on Instagram
  • Digital media more effective than offline channels for brand building, survey finds
  • Two quick reporting updates you need to know
  • Microsoft rolls out predictive targeting to all advertisers

Plus we look at some of the best ads discovered and look ahead at key content dates coming up in July.

Don’t forget to subscribe to this newsletter and follow me on LinkedIn.

Ok, let’s dive into this week’s update… 

Consumer confidence improves in UK, but marketers urged to exercise caution

Consumer confidence in the UK improved in June 2023, according to the latest data from GfK. The overall index score increased by three points to -24, which is the best showing for the past 17 months. However, the index is still in negative territory, which means that consumers are still feeling less confident about the economy than they were before the pandemic.

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The biggest improvement was seen in people’s view of their personal financial situation over the coming year, which increased by seven points to -1. This marks the third consecutive month of improvement and means it is just shy of returning to a positive position.

Marketers are advised to continue exercising caution, as the economic situation could worsen. To navigate the rocky road ahead, they must continue to deliver on brand promise and offer value for money. The best marketing will show that it understands how the average consumer is fighting to adjust to the cost-of-living crisis.

Even the most loyal customers might be tempted to change brands if there’s a financial rationale for doing so. However, consumers are showing remarkable resilience in the face of inflation.

Overall, the news is positive for consumer confidence in the UK. However, marketers should continue to exercise caution and be aware of the challenges that consumers are facing.

Meta expands ads on Reels to more marketers on Instagram

Meta is expanding its Ads on Reels pilot to a wider pool of marketers on Instagram. The initiative was previously exclusive to Facebook before being rolled out to some marketers on Instagram in May.

Now, Instagram Ads on Reels is being expanded further so that more advertisers can try the product on the social networking platform.

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Image ads are displayed to Instagram users directly on Reel content, so there is no interruption to the person watching the Reels. These ads are designed specifically to seamlessly blend into Reel content, meaning the user experience isn’t compromised.

The expansion of Ads on Reels comes as the format continues to grow in popularity. In the last six months, the number of people re-sharing Reels has doubled to over 2 billion times a day.

Meta hopes that by expanding the pilot, more advertisers will be able to reach a wider audience on Instagram. The company is also testing new features for marketers, such as app promotion ads and music optimisation.

 

Digital media more effective than offline channels for brand building, survey finds

A new survey by Marketing Week and Kantar has found that digital media is more effective than offline channels for brand building. The survey, which polled over 1,300 brand-side marketers, found that 86.7% of respondents believe that digital channels are effective for building brands, compared to 80.1% who think the same of offline media.

The survey also found that there is a growing belief among marketers that digital and offline strategies should be separate and distinct. More than 45% of respondents said that they believe offline and digital strategies should be different, while only 40% said that they believe the same approach can be used for both channels.

There are a few possible explanations for this shift in thinking. One possibility is that marketers are simply becoming more aware of the benefits of digital media for brand building. Digital media offers a number of advantages over offline channels, including the ability to target specific audiences, track results, and measure the effectiveness of campaigns.

Another possibility is that the shift is being driven by budget constraints. As budgets for marketing have become tighter, marketers may be turning to digital media as a more cost-effective way to reach their target audiences.

Whatever the reason, the survey results suggest that digital media is becoming increasingly important for brand building. Marketers who are not already using digital media to build their brands should consider doing so, as they may be missing out on a valuable opportunity.

 

Ads of the week

Nice collaboration with Beavertown and Queens of the Stone Age

Full video here: https://www.youtube.com/watch?v=sL4HpIixKiI

Protein cereal brand SURREAL release more risky billboards

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Philadelphia Advert – You’ve Got a Friend in Philly

Two quick reporting updates you need to know

1.     Google adds INP (Interaction to Next Paint) report to Search Console

2.     Google Performance Max adds Store Sales reporting, bidding

 

Microsoft rolls out predictive targeting to all advertisers

Microsoft has rolled out its predictive targeting feature to all advertisers on the Microsoft Audience Network. The feature uses machine learning to help advertisers find new audiences that are more likely to convert.

Microsoft says that advertisers who have used predictive targeting have seen an average increase of 46% in conversion rates.

To use predictive targeting, advertisers need to toggle on an ad group setting in the audience campaigns. They can also choose to expand their reach beyond targeted audiences by applying a marketing list or an in-market audience.

Microsoft has identified best practices to help advertisers achieve the best results with predictive targeting. These include using clear and descriptive ad copy, making sure the landing page provides a good user experience, and using predictive targeting in combination with automated bidding.

Dig into the detail here

 

KEY CONTENT DATES

01 July 2023: Tour de France (1st-23rd) Begins, Canada Day, International Joke Day

02 July 2023: World UFO Day

03 July 2023: Wimbledon (3rd to 16th) Begins

04 July 2023: Independence Day (US)

07 July 2023: World Chocolate Day, British Grand Prix (7th-9th) Begins

11 July 2023: World Population Day

12 July 2023: Simplicity Day, Malala Day

13 July 2023: International French Fry Day

14 July 2023: Bastille Day, National Mac and Cheese Day

15 July 2023: Give Something Away Day, World Youth Skills Day

16 July 2023: National Cherry Day, Ice Cream Day

17 July 2023: World Day for International Justice, World Emoji Day

18 July 2023: Nelson Mandela International Day

19 July 2023: National Hot Dog Day

20 July 2023: FIFA Women’s World Cup (20th July to 20th Aug) Begins, Get to Know Your Customers Day (Third Thursday of every quarter), International Chess Day

24 July 2023: National Tequila Day

28 July 2023: World Hepatitis Day

30 July 2023: International Day of Friendship

31 July 2023: National Avocado Day

Thanks for reading!

I hope you enjoyed this week’s newsletter 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.

See you next week.

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