The 4% | Edition 011
So you take 1 month off and everything goes crazy!
Think I'll do a couple of quick fire back to back editions; today will focus on the world of eCommerce, with the very sad announcement from Shopify on job layoffs, due to the slow down in eCommerce trajectory post-pandemic. Next week, can try and decode the Insta-tok changes and their impact for advertisers.
eCommerce Trajectory back to the trend line
Shopify's bet and many eCommerce aficionados saw the jump in eCommerce during the pandemic as the inevitable acceleration. The reality of this '5 years in 1' moment saw the limitations that still exist on manufacturing and logistics, with many brands having a horror run of keeping products in stock and fighting rapidly inflating shipping, eCommerce went from the most convenient, to the most frustrating .
YouTube Launches Shopping
Big news for YouTube and Shopify store owners on the direct integration of your feed to play under YouTube videos, the live shopping trend hasn't taking off in Australia, however we're most excited to see this play out for regular advertising.
If you have a Shopify store, recommend connecting and testing while it's fresh.
YouTube most trusted?
Now whether this is because Meta makes it impossible to trust them, and TikTok well....or possibly this is some nice PR to follow the announcement above. Anyway as we continually tell all our clients, YouTube is the most under utilised channel with the amount of reach + audiences available. It continues to miss out on advertising dollars due to a new shiny always being available. In the lead up to Q4, again highly recommend testing this channel.
Pushing the Cookie down the road
On the back of their heartfelt Google Marketing Live events on the importance of privacy and call to arms for advertisers to brace themselves for 2023 with first party data, have now announced an extension to blocking 3rd party cookies. It's now 2024.
Potentially this is Apple's fault? Creating the best bait & switch ever, promoting their privacy credentials, then follow up with their own DSP, brilliantly evil.
Benchmarking
Who doesn't love torturing themselves and their agencies with some generic benchmarking figures.
The Conversion Rates are purely looking on bottom of funnel Search activity, but it's a solid moment to question yourself on onsite performance or hit up our friends at Conversionry or MintMetrics to organise a CRO Audit.
Plus some eCommerce ROAS benchmarks which are always fascinating to see how low the US ROAS numbers are, don't think our agency would exist if we delivered those numbers for clients.