Why higher funnel investment is an absolute must-have
Alphabet (Google's parent company) exceeds expectations at Q2 earnings
Netflix goes all in on growing ads tier
Dive in!
🔒 Google delays 'deprecating third party cookies' in Chrome
Despite Google's initial plans to replace third-party cookies with Privacy Sandbox tools, the tech giant has announced that cookies will not be deprecated in Chrome.
Google's change of heart brings temporarily relief to advertisers - but we shouldn't expect a tracking free-for-all - quite the opposite.
Google is now giving users more control over their privacy, similar to Apple's privacy measures, allowing users to opt out of cookies.
This change simply gives marketers more time to adapt to a cookie-less future.
Advertisers should continue seeking privacy-safe attribution methods and leveraging first-party data where possible.
📊 If you're a bigger brand, higher funnel isn't a nice-to-have - it's essential
💰 Fospha's analysis of 70+ brands revealed that larger brands ($60M+ in revenue) allocate an average of 18.5% of their budget to Awareness and Consideration.
💡 This spending aligns with the best-optimized brands in Meta (18% in UF) and TikTok (22% in UF).
🤔 Why is this important?
🚫 Brands lacking a full-funnel approach face difficulties in generating demand as they scale, leading to increased Customer Acquisition Costs (CACs). So for growing brands, investing in the higher funnel is crucial.
Meta reportedly plans to cut the budget for its Reality Labs division by 20% through 2026, saving approximately $3 billion. This move aligns with the shift to production mode for upcoming VR and AR hardware, including the Quest VR headset and Ray-Ban smart glasses. Meta’s focus on cost-effective innovation could offer new opportunities for marketers. Performance marketing took lion share of ad spend in Q1 According to WARC & Advertising Association's latest data, UK ad spend increased by 9.3% in Q1 2024, totaling £9.2 billion. 79.7% of spend went to performance marketing. Spend in search grew by 12%, while online display (including social media) grew by 12.8%. Netflix reaches new highs as ad tier grows by 34% in Q2 Netflix just reached 278m member households in Q2 - reporting $9.6b in revenue, with 34% growth in its ad-supported tier. The company continues to expand its in-house ad tech platform, eliminating its Basic plan in key markets and partnering with platforms like Magnite, The Trade Desk, and Google DV360. Amazon Prime Day drove record sales numbers Amazon Prime Day drove $14.2 billion in online sales across U.S. retailers, a 11% increase YoY. The event also prompted rivals like Walmart and Target to launch their own deals, turning July into a key pre-peak shopping season. For marketers, this demonstrates the power of major sales events to drive massive consumer spending.
📈 Google Q2 earnings top estimates, reporting $24b quarterly profit
Revenue and Profit: Alphabet's Q2 revenue hit $84.7 billion, surpassing analyst expectations of $84.2 billion, marking a 14% increase year-over-year. Net income was $23.6 billion, slightly below Q1's record of $23.7 billion.
Earnings Per Share: EPS came in at $1.89, beating forecasts of $1.84.
Advertising Dominance: Approximately 75% of revenue came from ads, with $49 billion from Search and $9 billion from YouTube.
Stock Performance: Shares rose slightly post-announcement; Alphabet’s stock has surged over 50% in the past year.
⚽ Athlete <> brand partnerships evolving
With the Olympics just around the corner, all eyes are on Sports marketing.
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