The Vantage Buzz – February 2024

Hi,

Spring’s around the corner according to Punxsutawney Phil, the famous groundhog! Earlier this month he made his prediction that there will be an early spring.

Are you ready to change your campaigns and strategies based on the new season that’s fast approaching? We always suggest that by continuing to appeal to your customers, highlighting your products benefits in relation to the seasonal change is impactful. Staying relevant to the time of the year is important when showcasing your brand.

Your monthly ad-Vantage reading below:


Business:

Active social media user identities have passed the 5 billion mark (over 60% of the world’s population). What were key points from this article that stand out to a digital marketing agency?

  • The average social media user spends almost 2.5 hours per day on their social platforms.
  • Social media users spend their time on almost 7 different platforms each month, which makes for many digital advertising possibilities.
  • Over the past 12 months, Facebook grew its global ad reach by 10.5% year-over-year.
  • Instagram is said to be the ‘world’s favourite social platform’ this year, which means that dialled-in images and video ads have never been more crucial to your brand.

Click HERE for more on the latest social media and digital trends worldwide.

We often ask our clients to provide us with specific KPIs to help us with our digital marketing efforts. We are especially keen to know what some of our client’s Key Performance Indicators are, so that we can assist in growing their new customer acquisition, customer retention and customer lifetime value. These are just a few of the many KPIs we take into consideration when building and managing ad campaigns.

There’s much more to an ad campaign’s performance than initial return on ad spend (which can count multiple touch points for the same sale). We strive for long term growth and for the retention of loyal customers with the brands we work with.

Check out THIS article by Shopify, which outlines key metrics to use in monitoring your online brand’s performance.

E-commerce:

With uncertainties surrounding our economy, given the state of the World right now (wars, the Red Sea shipping chaos and the looming US election this year), we’re noticing an uptick in the Amazon Subscribe and Save option our clients offer their customers.

Customers are not only looking for solid, meaningful and trustworthy brands, but are also looking for brands who take an interest in customer retention by way of personalized cost-saving loyalty programs… such as subscriptions.

You can create a very effective subscription business model on or off Amazon. Shopify has come out with an article which highlights some of the most effective subscription business models. Find out which model may work for your brand and learn about the benefits of recurring, predictable revenue!

Have you heard of MER? What is Marketing Efficiency Ratio and why is this metric just as important as ROAS (return on ad spend) to marketing agencies?

We know that customers typically interact with more than one ad campaign, medium, or channel before buying. MER takes into account the value generated from ALL parts of the marketing strategy (total revenue divided by total spend) and works out how lucrative marketing efforts are as a whole.

We’re interested in our client’s long term growth by striving for an increase in customer retention, along with an increase in customer LTV (lifetime value). In order to do this, we need to focus on not just short-term ROAS, but longer term MER goals and growth as well. Are you ‘MER’ curious? Check out this article HERE.

General Intrigue:

The future is here. Now. What do you think of the new Apple Vision Pro (‘spacial computing’)?