đź“° Growth Daily - Thursday, Mar 2

Thursday's news, tips, & tools you need to know

Author

Nicole Tabak
March 02, 2023

đź’° Michaels Now Has a Third-Party Seller Marketplace

đź“° TL;DR - Arts and crafts brand Michaels has joined the ranks of other retailers opening up their websites to curated third-party sellers. With this addition, Michaels is increasing its product assortment from 250k to 1M+ SKUs. Michaels joins the ranks of Hudson’s Bay, Bed Bath & Beyond, Macy’s, and Walmart in opening up their inventory listings to marketplace sellers.

đź’ˇ Insight - As more and more brands open up their own third-party marketplace, brands are seeing an increased opportunity to reach a unique demographic. Michaels opening up a third-party seller marketplace gives brands another avenue for product sales, and a good one at that given that Michaels’ website sees 10+ million visitors per month.

Gone are the days of targeting look-a-like audiences when you can simply target the exact audience by listing products on a marketplace… but expansion too quick can risk diluting your brand. It’s up to each brand to determine… is it worth it?

🗞️ Why Brands Still Craft Clever Print Ads in The Age of Digital Marketing

đź“° TL;DR - It’s the year 2023 and brands are still investing time and energy in print ads… why? Because witty, clever ads within newspapers still warm a place deep within our marketing hearts. UK supermarket brand Asda recently released such an ad in daily UK newspapers with the headline “Romaine Calm” relaying their corporate response to supply chain issues causing shortages at their stores. The ad apparently took only 48 hours to turn around and was initially discussed via Whatsapp to jump on public scrutiny of the company’s empty shelves and in-store chaos.

đź’ˇ Insight - This isn’t to say that you should go convert all of your Google ad dollars to print ads (please, absolutely do not do that). But print ads aren’t as far from digital marketing as you might think. These ad examples are all witty and fun – which is why they draw so much public attention. The ads have the potential to be shared on social media, a total win in the eyes of organic social marketers everywhere.

So, if you’re looking to shake up your marketing, consider whether you could flex your creativity off the screen. You know how the saying goes… if you build [a clever ad campaign], they will [share it on social media without your intervention].

*Want to get in front of our audience of Founders & Marketers? Click here…

🎯 Meta’s Automated Ad Targeting Tools Drove 32% Increase in ROAS

đź“° TL;DR - Meta released a new report on their Advantage+ AI-guided ad campaigns from 2022 Q4. Advertisers saw over 20% more conversions than in the year prior, while recent tests found that advertisers using Advantage+ shopping campaigns are seeing a 32% increase in return on ad spend. The AI campaigns work with advertiser targeting preferences to optimize for the right buyer and messaging.

đź’ˇ Insight - If the metrics truly are as good as Meta’s reported them to be, Advantage+ seems like a no-brainer for eCommerce brands. Many ad pros have voiced concerns that the targeting leans too heavily on AI recommendations. Of course, it remains important to have a human touch when strategizing around ad campaigns. But this AI isn’t just making loose recommendations for kicks and giggles… it’s pulling upon countless data points we don’t even have access to as advertisers. Definitely worth a test to see how the power of AI can transform your ad strategy.

🤝 How To Incorporate First-Party Data Collection Into Experiential Activations

đź“° TL;DR - Running a successful in-person event is great, but realizing you didn’t plan a post-event lead conversion funnel isn’t great. Morning Brew collected thoughts from expert experiential marketers about their tips for capturing first-party data at branded events. Here’s their top 3 tips:

  1. Consider when and where you’ll implement initial lead capture. How do you plan to reach people before or after the event? When you do deepen that connection?

  2. Make data capture feel natural (and not too sales-y). If it feels out of place and has the potential to disrupt the experience, maybe opt for a different approach.

  3. Be more human with your approach. Being transparent about what data you’re collecting and how it’s being used is getting increasingly more important. Also sending customized, tailored messaging instead of generalized post-event email blasts can make a huge difference.

🤔 Why Not Consider OOH Advertising?*

đź“° TL;DR - AdQuick seamlessly connects advertisers to out-of-home (OOH) media owners anywhere in the U.S. and abroad, and makes it easier than ever to plan, buy, and measure every kind of outdoor advertising –– from static billboards to hand-painted murals. If you’ve run online ads you’re used to the speed of deployment and accountability provided via analytics. AdQuick provides the same experience digital marketers are used to to the OOH space.

đź’ˇ Insight - With AdQuick, advertisers gain immediate access to over 1,400 premium OOH media owners, can execute OOH buys 10x faster, launch OOH campaigns in as little as 48 hours, and unlock unprecedented measurability.

** If you also want to get in front of our audience, fill out this short form.

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