Hey there,

Tomorrow’s our last issue of 2023. How time flies when you’re having fun growing businesses!

🧠 Stat Of The Day 🧠

YouTube is still teens’ top social network with 90% of users age 13-17 saying they use the video site and 70% of those users using it daily. (Source: Pew Research Center)

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⚡️Today’s Headlines⚡️

⚙️ Meta’s prompting FB Group admins to sign up for AI management tools

🖼️ X updated the way media content is displayed with new filters

📈 FB & IG Reels are outperforming TikTok Clips in views

🐦 Spill, the network from ex-Twitter employees, is now in open beta

🗒️ IG really wants people to use Notes with new feature incentives

 🚨 New Podcast Episode Alert:

I recently interviewed Payman Tie on the launch of his new product Visme Forms.

Check out the latest episode of The @MarketingMax Show “Scaling to 25m SaaS Users & Launching Visme Forms” now streaming on Spotify & Apple & YouTube

🛠️ Things Worth Checking Out 🛠️

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🧠 SPOTIFY PSYCHOLOGY - Spotify Wrapped is always wildly successful – think about how much you saw it all over your feeds on release day. This piece breaks down the psychology behind why it always goes viral.

🤷 HOW X IS DOING - It’s really hard to know how X is actually doing when its official accounts randomly drop vague stats. Social Media Today scoped out all the posts and came to conclusions…

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✨ Today’s Insight ✨

eCommerce businesses, prepare for returns

📰 TL;DR - According to sales stats, November retail sales were up nearly 6% YoY. Last year, the National Retail Federation put retail’s holiday return rate at 18% or nearly $171 billion.

Retail Dive breaks down how retailers and eCommerce businesses need to be prepared for mass returns this year, along with what it can mean for business.

💡 Insight - Recognize that there’s not much you can do ahead of time to avoid it. It might be worth considering a look at your return policies for the future to tighten those up. But if you haven’t changed it earlier, the damage is already done.

But everything comes with a cost. Studies show tight return windows or those requiring fees may discourage shoppers. According to Optoro, more than 60% of shoppers quit frequenting a retailer that charges return shipping.

Either way, don’t be shocked if you’re inundated with returns after the new year. Be prepared for the potential influx of customer service needs. Make sure everyone is equipped with the right messaging and protocol.

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