Cross-Channel Marketing Drive Up to 31% Conversion Rate
49%
Tailoring marketing strategies to resonate with regional audiences while maintaining a cohesive global presence is essential, according to a CleverTap report on cross-channel marketing. The study highlights the importance of understanding local and industry-specific nuances to optimize omni-channel strategies, with businesses seeing up to a 49% increase in conversion rates when using four or more channels. The report also shows that email dominates in the US and UK, SMS is strong in China and the US, and WhatsApp is a key channel in South America and Asia, impacting engagement, conversion, and onboarding rates across industries.
55%
Data from 10 Fold and Sapio Research stated that the majority of B2B marketers in the U.S and Europe aim to grow their social media content by 46% and video by 41% in 2024. This trend is driven by the growing influence of Gen Z B2B buyers who rely on social media for product information. Additionally, 55% of B2B marketers worldwide believe short-form social videos deliver the highest ROI, with LinkedIn video uploads expected to increase by 45% year over year, supporting its new connected TV ad platform.
87%
StatCounter data indicates that due to privacy and data security issues 87% of US browsers are likely to transition to a cookieless environment in the long term. A July 2024 survey reveals that only 17% of US consumers consistently accept third-party cookies. With Google’s new consent-based model and Microsoft Edge’s plan to deprecate cookies by the end of 2024, only about 10% of US browsers may remain trackable via third-party cookies. As a result, advertisers and publishers will need to focus on cookieless strategies like Google’s Privacy Sandbox and data clean rooms.
2.6%
Target has experienced a surge in Q2 sales by 2.6% to $25 billion and the company’s total earnings hit 43% to $1.2 billion. Comparable sales grew 2%, driven by a 0.7% rise in store comps and an 8.7% increase in digital sales. Same-day services made up more than two-thirds of digital sales resulting in $2 billion in Q2 and exceeding $4 billion in 2024. Target saw positive trends in apparel, beauty, and food, with consumer spending driven by value and deals.
56%
The ad industry’s optimism from early 2024 is expected to persist, with many advertisers planning to maintain or increase spending across all channels, according to Mediaocean’s H2 market report. 56% of Connected TV (CTV) and streaming, 55% of generative AI, and 47% of TikTok/social video are top priorities for marketers. The report, based on input from over 1,200 professionals, shows a strong focus on AI for data analysis and market research, with omnichannel media investments, especially in social media, digital display/video, and CTV, continuing to grow in the latter half of the year.
21.45%
Spotify has rebranded its self-serve ad platform from Spotify Ad Studio to Spotify Ads Manager to enhance its advertising capabilities and attract more programmatic ad buyers. The updated platform now includes video ad units and a more advanced targeting system, with audience segments expanded to over 100. This move aligns with Spotify’s strategy to diversify revenue streams, with ads projected to account for 21.45% of its revenues by 2025. The rebranding reflects Spotify's commitment to simplifying the ad process and attracting a wider range of advertisers through improved tools and programmatic partnerships.
1%
Advance estimates of U.S. retail and food services sales for July 2024 surged 1% in July, far exceeding the 0.3% estimate, with gains driven by motor vehicle and parts dealers, electronics stores, and food outlets. Excluding auto-related items, sales rose 0.4%, also above expectations. Meanwhile, weekly jobless claims fell to 227,000, below the 235,000 forecast, indicating continued labor market strength. The positive sales and employment data come as inflation pressures eased slightly in July, supporting better-than-expected consumer spending.