In terms of digital marketing this week, TikTok is establishing social media's rules, CPG companies are charging consumers more, and holiday marketing is now in full swing.
TikTok Is Setting The Ground Rules For Social Media
TikTok ads are seen by 18% of adult internet users. 885 million individuals, to be exact. They are also using TikTok for longer (44 minutes per user per day), breaking Facebook's previous record of 38.9 minutes, and defying expectations that usage would fall as countries came out of lockdown.
Instagram will resemble TikTok much more than it already does. The transition of Facebook from a conversational to mostly visual platform is expected to continue. The encouraging news for marketers Short form video has been referred to as "snackable." It seems to be created for younger, less patient consumers.
In reality, though, the audience is spending more and more time consuming ever-increasing volumes of these foods. In fact, keeping it brief increases interest. TikTok is already a useful marketing medium as a result of this.
Brands’ Cost-Cutting Moves Are Costing Them Customers
Customers are outraged by CPG firms who reduce quantity or quality to increase profits. According to a recent Gartner report, 62% of consumers said they will cease doing business with firms who act in this way.
56 percent of consumers said they have observed shrinkflation (cutting the size or quantity of packaged goods without lowering the price) in food and grocery stores. In comparison to the next highest category, domestic products, this is 15% greater.
Revenues in the CPG sector are expanding at their fastest rate in 20 years (4.8 percent per PwC). Pricing strategies intended to maintain those earnings may result in severe market share loss. If you'd want to witness an alternative strategy, go to your local convenience store. A variety of AriZona iced tea products are available there. Costing 99 cents is its enormous 23 oz. can. Since the company's founding thirty years ago, that pricing has not altered. How is that conceivable when the price of high-fructose corn syrup has tripled in the last 20 years and the price of aluminum has doubled in the last 18 months? The company's founder and CEO, Don Vultaggio, claims there are instances when making less money is acceptable.
No Matter The Time Of Year, There’s A Holiday You Should Be Planning A Campaign For
A multi-activation holiday marketing plan that starts months in advance will be effective. This is due to the fact that consumers are also extending the celebration season by arranging elaborate holiday preparations. According to a research of customers and effective marketing strategies by visual discovery site Pinterest, 80% of shoppers indicated they plan more "mini moments" over these holidays, coming up with fresh ways to celebrate.
Here are the peak periods for ads, by holiday:
As we saw from the recent Amazon Prime Day promotion, shoppers are ready to take advantage of sales. The early timelines from Pinterest suggest that in July many of these shoppers are already thinking about holidays.
This allows a longer runway for digital marketers to launch holiday campaigns, with evidence that a robust strategy with multiple activations will pay off throughout these festive occasions.
Only 11% Of US Businesses Fully Comply With CCPA Privacy Law
According to a recent survey, only 11% of US businesses completely comply with the standards of the California Consumer Privacy Act (CCPA). Actually, this is greater than the 6% of businesses that fully adhere to the EU's General Data Protection Regulation (GDPR).
Google, British Airways, H&M, and Marriott are just a few of the firms that have received fines of $10 million or more under the GDPR, which has the power to issue fines of up to 4 percent of annual sales. For each deliberate violation, the CCPA may impose a fee of up to $7,500 per record. Just direct financial costs, there. The harm to a brand's reputation is probably considerably greater. Consumers have been fairly understanding when data theft occurs. If a business has been intentionally exploiting it, this won't be the case.
Some of this information will be useful to your company, while some will not. This is where we can help you. We can sort through these updates and determine which ones are most significant to you and your company. Contact us for a consultation!
Summer has tons of experience in all realms of marketing. Her favorite is Search Engine Optimization and trying to figure out what Google is up to next.