Industry Quick Links for the week of July 8:
Teens and young adults are spending time each day on Instagram (64.59%), YouTube (62.48%), Snapchat (51.31%) and Facebook (34.19%), according to a Business Insider/Survey Monkey study of 1,884 Americans ages 13 to 21. Apparently, newer social platforms are resonating with this demographic as some 30% are giving up on Facebook entirely.
Marketers are expected to direct 52% of their global ad spend toward the internet by 2021, up from 44% in 2018, says a Zenith report. While this is a new milestone, online ad spending is predicted to slow from 17% growth last year to 9% by 2021, and online video and social media are projected to be the winning categories, with double-digit growth due to upcoming 5G mobile technology.
Understanding and relating to individuals and managing online interactions are key components to boosting social intelligence and brands can use that information and dialogue to capitalize on sales opportunities and gather data to enhance targeting and customer experiences, writes Luke Fitzpatrick. Fashion retailer ASOS and business apparel company Cintas are highlighted by Fitzpatrick as businesses that have successfully used social intelligence to refine their marketing and competitive intelligence strategies.
Instagram engagement rates for brands have fallen over the last six months and influencers are also affected with decreased engagement, Trust Insights reports using two graphs. The trend is worryingly similar to the decline of organic reach experienced by marketers on Facebook and brands should ensure they focus on target audiences to make the most of the platform, Andrew Hutchinson writes.
California lawmakers rejected AB 873, which would have eased restrictions to its privacy law for marketing firms. Various business groups had supported the amendment “arguing that only data that can in itself identify people — like names or Social Security numbers — should be covered by the new law,” Wendy Davis writes.
App Annie reports that Facebook dominated downloads worldwide in the second quarter, with its Messenger, Facebook and WhatsApp apps the top three downloads, followed by TikTok, Instagram and Snapchat. Meanwhile, Tinder, Netflix and Tencent Video were tops in consumer spending