Here is our take on the most notable stories in Digital and Social Media Marketing from last week.
Last week, Twitter began testing an ad unit that may, or may not, be influenced by a popular Facebook ad type, Pinterest partnered with Oracle to help figure out how their ads are impacting in-store purchases, and the IAB announced that $16 billion was spent on digital marketing in the first quarter of this year, alone.
Social Media Today | June 4, 2016
Twitter is taking a play out of Facebook’s playbook and testing their own version of the carousel ad. The ‘Promoted Tweet Carousel' gives advertisers the ability to tell a story by compiling multiple tweets in this new, swipeable ad format. Advertisers can use their own regular tweets, tweets with videos and images, and tweets from other users (as long as they get permission from the user, of course).
The Tweet Carousel will allow for up to 20 tweets, but Twitter suggests using only five to seven.
Big news! Curate multiple Tweets in a single swipeable ad unithttps://t.co/l0WTGVtI4O— Twitter Advertising (@TwitterAds) June 3, 2016
The Promoted Tweet Carousel is definitely an interesting concept. While it is still in testing, we can see this quickly becoming one of Twitter's most used ad types. Twitter, maybe more than any other social media platform, is driven by sharing and by influencers. This ad type will allow brands to combine their great, tweeted content with tweets from major influencers that highlight their brand/product(s) in a positive light.
Social Media Today | June 8, 2016
Pinterest has partnered up with Oracle to measure the connection between Pinterest's digital ads and in-store purchases. According to Oracle’s findings, users who saw an ad on Pinterest were five times more likely to purchase the product in-store. Additionally, CPG brands were able to reach their customers three times better than the national average.
Not surprisingly, Oracle also reported that individuals are more likely to engage with a brand when they have purchased from that brand in the past.
Even though Pinterest has a relatively new advertising platform, it is becoming obvious that if you’re a marketer hoping to capture the attention of female consumers, Pinterest is definitely worth consideration. To further the case for Pinterest, a study conducted by Millward Brown revealed that 93% of active ‘Pinners’ use the platform to plan their purchases, and 87% have made a purchase after seeing a product on Pinterest. Here is the full demographic breakdown for Pinterest users, according to Pew Research:
Media Post | June 9, 2016
The Interactive Advertising Bureau [IAB] has reported that digital advertising revenue hit $15.9 billion in the first quarter of 2016. As a comparision, in the same quarter last year "only" $13.2 billion in ad revenue was seen. The executive vice president of the IAB stated that this year could be the biggest year in digital ad spending, ever.
It's quite amazing that even with all the news around ad fraud, ad blocking, and viewability, there seems to be no slowing down the digital ad industry. From our estimation, the combination of ease, the potential for reach, its relative inexpensiveness, and the fact that marketers don't want to be left behind as the world becomes ever-more digital is what will fuel this industry despite these aforementioned issues.
As the industry matures, publishers who address these issues the best will be championed by marketers. Right now, we are seeing such a shift to Facebook because of their ability to handle these issues. Their "Walled Garden" environment deters ad fraud and ad blocking, while their stance on viewability is up to IAB's highest standards.