Interesting Reads. Industry news that you may have missed.
Benchmark marketing involves observing competitor and industry metrics to identify shortcomings in a brand’s strategy. To begin, identify 3-5 KPIs and conduct evaluations from there. Use third-party tools such as Google Analytics, SEMrush, and Twitter Analytics to gather data. Finally, review results and establish new goals (such as optimize ad spending).
As the ambiguous metaverse begins to take shape, brands are carving out space within it. Wendy’s put a mascot lookalike into a scene in Fortnite, eliminating a restaurant’s freezers as part of their “fresh, never frozen beef” commitment. Creating avatar goods (direct-to-avatar) shows promise as the future of retail. In addition, massive interactive live events (MILEs) are an opportunity to engage broad audiences in one venue.
As third-party cookies phase-out, contextual advertising is on track to take its place. Contextual advertising takes into account the content viewed by a user, propagating relevant ad images. Integral Ad Science found that 73% of users prefer ads that reflect the respective article.
With online commerce on the rise amid the pandemic, Netflix and Walmart have debuted a shopping hub. This partnership rides the coattails of Netflix’s mega-hits like “Stranger Things” and “Squid Game,” enabling fans to purchase merchandise. This hub will incorporate interactive features, such as Netflix Fan Select, which allows fans to vote for preferred product designs.