Let’s see what this week’s numbers say about online advertising, shall we?
- According to this article, marketing leaders are optimistic about their wealth in 2023, but some changes need to be made. The most oft-cited priority functional areas for the leaders’ marketing departments next year are marketing systems/technology (38.4%), digital transformation (36.2%), advertising and customer insights/data (33.9% apiece), and customer loyalty (33.3%).
- This very interesting report by Insider Intelligence on purchases via social media shows that only 38% of US social users had made a purchase on social media in the 12 months preceding our June 2022 survey. Even among Gen Z and millennials, there was a roughly 50-50 split between buyers and nonbuyers.
- TikTok has become the world’s most downloaded app in 2021 and added an additional 100 million users this year. According to a study by Dash Hudson, were tens of thousands of TikToks shared by top brands were analyzed, it was found that true engagement is strongest in the first 250,000 views of a TikTok. While smaller accounts with around 10,000-100,000 followers on Instagram boast an engagement rate nearly 50% higher than larger brands (500K+), TikTok sees larger brands generate an engagement rate that is 20% higher. This trend can be attributed to both the quality of content being produced by larger brands, and to the sophistication of TikTok’s algorithm. red more in this article by Adweek.