ADVERTISERS SPENT MORE HEAVILY FOR AMAZON PRIME DAY — HERE’S WHAT THE NUMBERS SAY
Key Point: Predictions that 2023 will see diminished ad spend may not be entirely accurate — if the results from Amazon Prime Day are an indicator. 2023 ad-attributed spending, average order value (AOV), and return on ad spend (ROAS) all fared surprisingly well.
Here are examples of the stats from this year’s (July 11 and 12) Prime Day event:
- Ad spend was up 409% over the previous 30 days
- Sales attributed to ads were up 486% over the previous 30 days
- Spending by marketers was up 65% over 2022 spend
- Ad clicks were up 226% over the previous 30 days
- Cost per click (CPC) rates were up 58%
You’ll find those and other metrics in this article, but be sure to consider the results with questions in mind: Is the data trustworthy? Why would Amazon Prime Day be such a hit when recession fears are rampant? What other factors are involved? How can this overview help you construct your next strategic marketing plan?
ELON MUSK’S BOLD STRATEGY FOR TWITTER’S REBRAND
Key Point: Elon Musk’s ambitions for Twitter aren’t a secret. Musk sees Twitter becoming a “Super App,” similar to WeChat in China. That’s not surprising for an entrepreneur who will likely never be accused of thinking too small, but what would Twitter look like if Musk’s vision plays out?
First, here’s some of what Musk said during his first presentation to the Twitter staff in June of 2022:
“Think of it like WeChat in China, which is great now, but there’s no WeChat equivalent outside of China. There’s a real opportunity to create that. […] You basically live on WeChat in China because it’s so helpful, so useful to daily life. I think if we achieve that or come even close to that with Twitter, that would be a success.”
Why the fascination with WeChat? The platform’s more than one billion monthly active users can do anything from sending messages, to engaging on social media, to paying bills … all from WeChat.
Can Musk pull it off, and will Super Apps become popular in the West?
An Insider Intelligence analyst had this to say about the idea: “Transforming Twitter into a WeChat-like super app would be a massive undertaking for Musk. Changing consumer behavior is hard — something that Meta (then Facebook) quickly discovered during its own super app ambitions.”
Considering that Musk gained 540 million active users when he bought the platform, though, maybe Twitter’s move to Super App status is possible. And if Musk’s past accomplishments are an indication, it may be imminent.
GOOGLE ANALYTICS LAUNCHES NEW AUDIENCE REPORT
Key Point: We reported last month that Universal Analytics is no longer useful. The move to Google Analytics 4 is complete on Google’s end (for non-UA 360 properties), but are you on board with the new analytics powerhouse yet?
The newly introduced Audience Report may give you reason to finish your setup and accept the change. Here are the metrics you’ll find in the new feature:
- Total revenue
- Views per session
- Active users
- New users
- Average session duration
The dimension selection is Audiences. Your job is to get the guide and get going with Google Analytics 4. All metrics are automatically tallied, except for Total Revenue. You’ll need to be sure to set that up correctly.
META’S THREADS USAGE DROPS BY HALF AFTER SEEING INITIAL SURGE
Key Point: Meta CEO Mark Zuckerberg’s comment that user retention on the new Twitter-like Threads app is “not perfect” … that a drop in initial users is “normal” … may end up being the marketing understatement of the year.
Or, will Threads turn around and take hold? The first five days of public availability garnered more than 100 million sign-ups — but a SimilarWeb report says the number of daily users was down to 23.6 million within 10 days.
This article says Meta is committed to making the app better and will eventually provide monetization avenues for marketers. Zuckerberg’s plans call for more “retention-driving hooks” to encourage the initial unimpressed users to return for another look.
Here’s something to consider: Given the advantage gained by first-to-market concepts, could it be that Twitter’s longtime popularity and desire to move toward Super App status can fend off the Threads challenge? Time will certainly tell.