This Week in Digital Advertising: August 7th, 2020
Hello, Bidtellectuals! Wow, it’s August! What a summer.Congratulations to Star Bidtellectuals Jonno Burden, Todd Green, and Lysa Vincent for their mega team power!
Goodbye TikTok? Hello Instagram Reels.
President Trump signed an executive order on Thursday banning transactions withByteDance, the parent company of popular app TikTok. The order takes place in 45days and makes any transactions between ByteDance and U.S. citizens outlawed for national security reasons. It’s not a direct ban, but this would mean a halt in advertising and likely a removal of the app from app stores.
A similar order was passed banning transactions with WeChat, which has a smaller presence in the U.S., compared to TikTok which had a majority of its market in the United States. The social media platform was doing great so much so that many businesses seemed to have considered jumping on the bandwagon of video creation; there were even a few who are known to have considered improving their brand awareness by purchasing followers and likes on the platform using Tikdroid.
Alas! that window seems to have been closed by none other than the President of the Country. As a result, many businesses and influencers are reported to have resorted to other digital platforms, namely Instagram and Facebook (whose market value has also increased due to this).
TikTok has threatened legal action, saying the executive order was “issued without any due process” and would risk “undermining global businesses’ trust in the United States’ commitment to the rule of law.”
Right on time, Instagram launched its TikTok competitor, Reels, on Wednesday in 50markets. It would most likely also expand to Facebook by 2021. In addition, people can also download facebook videos (reels and normal ones) using various platforms on android and PCs. These short and long videos can be used by marketing agencies and businesses to effectively promote their brand and products. It’s yet another example of parent company Facebook’s typical “if you can’t buy it, copy it” strategy, wrote Adexchanger. And honestly, if you haven’t checked it out, sometimes I scroll through it and accidentally think I’m on TikTok instead of Instagram. This will certainly pique the interest of those who love social media and want to use it in multiple ways to connect with their audience and grow their following. Doing this may bring more people to the platform as well as combining it with an Instagram growth service so that influencers are able to widen their range and get more people viewing their content.
Remember Cookies? This is Still a Thing.
Coronavirus may have clouded the collective industry memory, but the shift to a cookie-free future is still rolling. Firefox and Safari browsers have blocked third-party cookies. Google Chrome will do the same by 2022. Contextual targeting (targeting based on the information available on the page or site of the ad space, rather than user data) and Universal ID (a unique, shared identifier amongst the industry – see TTD 2.0 one) solutions will be jumping-off point. Read more here so you know what’s happening and the steps we’re taking.
“Better be Nice to the Boomers” Says eMarketer
eMarketer’s latest report on the state of spending by generation points to some obvious ones: Gen Z and Millennials have significantly increased their digital spending during the pandemic (65% and 63% increase, respectively), which is great news for digital advertisers. So have Baby Boomers, but at a lower rate: 47% have increased their online spending during the pandemic. Even though that’s less than their younger cohorts, they hold the largest share of wealth, are least likely to be affected by the current high unemployment, and are more likely to own their own homes – so they are above-average-spenders.
It’s time to adjust messaging and targeting to get a greater share of that Boomer money. The targeting aspect could probably be achieved with the help of an seo expert and social media marketing guru. As the pandemic forced many people to get their needs fulfilled through online resources, it also created pressure on the eMarketers to be visible to their potential customers. It could also be the reason behind the increase in digital spending as the trend seems to suggest.
What Are COOKIES Used For Anyway? Digital Advertising, Privacy, & Cookie-Free Future
Google’s DV360 Testing Out Programmatic Audio
Google launched new programmatic sales capabilities for audio publishers in their Ad Manager on Thursday. This is their first time they’re venturing into audio after growing interest from publishing partners. Is this the future? Maybe.
Good News: Beyoncé, Roger Federer, and the Other Cookies
Last week we were obsessing over Taylor Swift, this week it’s been all Beyoncé. I mean how stunning is her visual album? TGFNMFQDAP (Thank God For New MusicFrom Queens During a Pandemic – yes, I obviously made that up). If you’re looking for a wholesome feel-good-can’t-stop-smiling-moment, watch Roger Federer surprise the two junior tennis players who went viral for playing tennis across their roofs in Italy. The trio hit some balls then eat some pasta together because…it’s a Barillacommercial. Finally, New York’s favorite bakery, Levain, will soon sell its famous cookies in grocery stores. Yes!
Want more need-to-know info? Subscribe to our monthly Bidtellectual newsletter!
Charlotte Otremba is Sr. Manager of Communications and Marketing at Bidtellect.