As we dive into the dynamic world of marketing in 2024, we wanted to share some pivotal insights that are reshaping how brands approach growth and engagement.
In this edition of our newsletter, we're peeling back the layers of some of the most significant trends and updates that are set to influence your strategies this year.
It’s what every leading marketing publication will tell you – in 2024, brands are shifting away from click-based measurement. This comes as no surprise. When using a tool made for a different age, it’s impossible to keep up with the competition, especially considering how quickly the industry is developing. ⚡
In Fospha’s newly released Q1 State of eCommerce Report, the data confirms that Google Analytics under-represents most channels, particularly those that are impressions-led such as Paid Social. 💥
This is no good for brands who want to assess the real impact of Paid Social – it’s part of why this channel groups remains hugely under-invested, and leaves brands missing a substantial opportunity. 💸
The latest IPA Bellwether report is in: Marketing budgets are soaring to their highest levels since 2014, with 26% of businesses ramping up investment.
But here's the twist: The UK might face a shallow recession in 2024, with a projected 0.1% GDP decline. 📉
Despite economic uncertainty, companies are staying optimistic on their financial outlook and advertising investments. The key in these uncertain times? A solid measurement strategy to guide smart investment choices and ensure marketing & finance teams are on the same page. ✨
🔗 Curious about Performance Marketing World's insights on this? Click here for more.
Get this: Advantage+ campaigns on Meta delivered a whopping 160% higher return on ad spend in 2023 compared to standard shopping campaigns. And the cost? Just $5 to $5.50 CPM. Read more.
2023's challenges have pushed businesses to prioritize growth and profitability, spotlighting the Chief Revenue Officer role. Why? They're the maestros of aligning marketing and sales. Read more.
Here's a twist: Meta ads may not always top last-click returns on Google Analytics, but they're ace at sparking consumer discovery. The Drum reveals how Meta’s ‘custom conversions’ are unveiling this hidden potential. Read more.
Google has recently made significant changes to its Chrome browser's Incognito mode, including a critical update to the disclaimer that users see when opening an Incognito window, to address concerns and settle a $5 billion lawsuit. 🔍
What's the buzz about? It's all about data transparency. As ad platforms are increasingly held to account for data privacy, marketers need to pivot quickly. 🤔
🛡️ A solution is adopting an entirely privacy-safe measurement solution, to remain on top of your marketing analytics in light of new regulations.
🔗 Intrigued about Google’s shift? Click here for the full scoop.
Nicola Mendelsohn, Meta's Group Head, reveals a game-changer: Ads on Meta's apps, powered by AI, are seeing a staggering 32% increase in return on investment. 📈
But that's not all - these AI-driven ads are also cutting acquisition costs by 17% and
2022 was a rollercoaster for retail, pushing many to pivot from chasing growth to honing in on profitability strategies. Nest's January Readout offers a treasure trove of insights for eCommerce brands navigating these changes. 🛒
🔍 Key Highlights:
Surprisingly high CPM spikes.
Rising success with Reels.
A strategic shift towards full-funnel performance.
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