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.
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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.
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.
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
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.
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.
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See you next week.
