SOCIAL MEDIA ADVERTISING
Emplifi | August 05, 2022
Emplifi, the leading unified customer experience platform, revealed the findings of its Q2 2022 analysis of social media spend across thousands of brands worldwide.
The report findings highlight a rebound in median monthly global ad spend compared to the same period last year, a decrease in the median monthly click-through rate (CTR), a slight uptick in median monthly cost-per-click (CPC), and steady engagement on Facebook and Instagram. The data also shows a slight decrease in brands’ response rate to customers who ask questions on social media.
Brands increase investment in paid social media
After seeing a notable post-holiday drop in Q1 2022, median global monthly ad spend among brands rebounded by 18% in Q2 2022, climbing back above USD 4,200 – a figure close to the year-high level that was seen in Q4 2021. With this quarter's rebound, median monthly ad spend has increased 19% YoY, suggesting that brands are allocating more budget to reach their target audiences via paid social.
Click-through rate (CTR) continues to decline
Emplifi data shows that median monthly CTR has been steadily decreasing over time, dipping below the 1% mark in Q1 2022. This past quarter tells a similar story, with CTR lowering to 0.93%, signaling a 11% drop YoY. Despite this decrease, businesses can continue to depend on social media advertising to return value, as engagement remains fairly stable when consumers interact with paid social posts.
Median cost-per-click (CPC) remains stable
While CTR has steadily decreased, Emplifi data shows that CPC remains relatively stable despite some fluctuations in recent quarters, hitting $0.20 in Q2 2022. With average CPC rebounding this quarter after seeing a drop at the beginning of the year, it will be interesting to see whether this is a quarterly fluctuation or the start of an upward trend.
Instagram still dominant in engagement
After seeing a steady decrease since Q2 2021, median Facebook post interactions saw a slight bump quarter-over-quarter, reaching their highest level since Q3 2021. However, Q2 2022 levels remain notably lower than Q2 2021, with brands generating approximately 5.2 interactions per 1K impressions on Facebook, a 15% decrease year-over-year. When it comes to industries, the strongest performers for engagement on Facebook were brands in the Industrial (9.79) and Accommodation (9.04) sectors, while the lowest performers were Ecommerce (2.80), Retail (3.64), and Fashion (3.90).
Instagram continues to show much stronger engagement than Facebook, with about 32 interactions per 1K impressions in Q2 2022, which is on par with what has been seen across the past year. Brands in the Beverages (47.37), Alcohol (46.83), and Software (45.11) sectors saw the highest levels of engagement, with Retail (17.71), Telecom (21.58), and Ecommerce (22.81) brands lagging.
TikTok versus Instagram
In an analysis of sister TikTok and Instagram accounts across 330 brands from January-June 2022, Emplifi data shows that brands post more often on Instagram (68%) than on TikTok (32%) in relative posting frequency. While reach and interactions were higher on Instagram, video content had greater engagement on TikTok. Either way, both platforms have shown an upward trend over six months in terms of engagement rate, peaking in June 2022, reconfirming user interest for engaging video content.
“Brands need to connect with their audiences where they are and social media is an integral part of the marketing mix,” said Emplifi CMO, Zarnaz Arlia.
“Brands need to connect with their audiences where they are and social media is an integral part of the marketing mix,” said Emplifi CMO, Zarnaz Arlia. “It’s no secret that TikTok's surge in popularity is continuing – we’ve found that brands post more often on Instagram than TikTok, and video content has higher engagement on TikTok. It will be interesting to see how this trends in the months ahead. What is certain though is that in today’s world, having and maintaining a solid presence on both TikTok and Instagram is essential.”
Twitter shows the fastest response times to questions
Emplifi data shows that median response rates for brands answering questions on Facebook and Instagram decreased slightly in Q2 2022. On Twitter, after some mild fluctuations, response rates have returned to a similar level from the same time last year. When looking at engagement by industry, Beauty, FMCG Food, and Home & Living brands had comparatively higher response rates to user questions on social, while Automotive brands had lower response rates across all three social media platforms.
In terms of the time it took for brands to respond to questions, Instagram and Twitter saw slight bumps quarter-over-quarter, while Facebook saw a decrease for the second straight quarter. Examining the data by industry, some brands have the slowest response times on Facebook (alcohol, beauty, FMCG food, home & living, service), while for other brands, it's on Instagram (automotive, ecommerce, electronics, fashion, retail). However, except for one industry (FMCG food), Twitter typically sees the fastest response times among the three networks examined.
Emplifi's analysis is based on Q2 2022 data and year-on-year comparisons downloaded at the beginning of July 2022.
Emplifi is the leading unified CX platform that brings marketing, commerce, and care together to help businesses close the customer experience gap. More than 7,000 brands, including Delta Air Lines, Ford Motor Company, and McDonald's, rely on Emplifi to provide their customers with outstanding experiences at every touchpoint. For more information, visit www.emplifi.io.
AD NETWORKS,ADVERTISER PLATFORMS
Veritonic | August 10, 2022
Veritonic, the industry’s comprehensive audio research and analytics platform, announced today that Ranieri & Co., the ANZ podcast company launched by former TRIBE executives Rob Ranieri and Nick Randall, has selected its audio Attribution solution to enable the company and its clients to accurately track and measure podcast ad performance. In Australia and New Zealand, Ranieri & Co. exclusively represents leading local podcasts such as The Byron Cooke Show, The Mind Muscle Project, The Fitness and Lifestyle Podcast, Single Minded, and The Junkees with Dave O'Neil and Kitty Flanagan. This year Ranieri & Co. also released its first two original podcasts, Motherlode and The Long Haul. The company will use Veritonic’s attribution solution to understand the impact and prove the value and ROI of the company’s audio creative for the podcasts it represents.
“Veritonic’s end-to-end measurement and analytics capabilities will allow us to gain actionable insights that further the ROI on our client’s advertising dollars, . “This holistic picture of how our client’s audio is performing and the actions it’s driving enables us to truly understand, optimize, and maximize the performance and ROI of our podcast advertising.”
Rob Ranieri, Co-founder and CEO of Ranieri & Co
As a key component of Veritonic’s suite of Campaign Performance tools which also includes Brand Lift, Attribution enables brands to understand the impact of their audio creative across any app, hosting platform, or listening device. The solution allows users to glean actionable insights on how audio is driving action on a given landing page, including site visits, cart activity, transaction data, and more. The attribution data can also be enhanced with benchmarks, norms, and unparalleled second-by-second engagement and brand lift data to provide the industry’s most comprehensive set of lifecycle audio measurement analytics available today.
“At Veritonic, we understand that data is everything when it comes to making informed marketing, brand, and advertising decisions,” said Scott Simonelli, chief executive officer of Veritonic. “By deploying our Attribution solution, Ranieri & Co. is providing the podcasts it represents with unparalleled insights to understand and optimize the performance of their advertising campaign investments. We look forward to building a partnership with one of Australia and New Zealand’s leading podcast companies to help validate investments, optimize audio assets, and ensure increasing ROI for its clients.”
World-renowned brands, agencies, publishers, and platforms rely on Veritonic’s comprehensive audio research and analytics platform to research, test, and measure the ROI of their audio assets and campaigns pre-market, in-market, and post-campaign. The resulting insight enables clients to gain confidence in their audio investment, mitigate risk through optimization, and increase their return as they engage consumers with compelling audio experiences. For more information, visit https://www.veritonic.com.
About Ranieri & Co
In Australia and New Zealand, Ranieri & Co. exclusively represent leading local podcasts such as The Byron Cooke Show, The Mind Muscle Project, The Fitness and Lifestyle Podcast, Single Minded and The Junkees with Dave O'Neil and Kitty Flanagan. Ranieri & Co. also makes custom branded podcasts that hit the sweet spot between what brands want to talk about and what audiences are genuinely interested in. Stories that inspire, inform, and entertain. Ranieri & Co.'s first two original podcasts, Motherlode and The Long Haul, are out now. Find out more at www.ranieriandco.com
AD TECH AND MARTECH
Waymark | August 12, 2022
Waymark, a pioneer in using artificial intelligence to scale up video production, has launched a revolutionary AI-powered tool that allows users to create ads in minutes with no creative expertise required. Waymark AI Video Creator empowers local media companies to instantly create high-quality ads and get them to air quickly, shortening sales cycles and creating new opportunities for growth with local businesses.
Users input a few keywords into a web-based interface, and Waymark AI Video Creator automatically generates every element of the ad, from script to imagery to branding. At the heart of the product is an artificial intelligence engine that processes a local business’ online profile and translates it into a natural-sounding script, with relevant imagery and brand elements, to create professional-grade spots.
“AI-produced content is the future of advertising, and it gives companies that work with local businesses a huge competitive advantage,” says CEO Alex Persky-Stern.
“AI-produced content is the future of advertising, and it gives companies that work with local businesses a huge competitive advantage,” says CEO Alex Persky-Stern. “Waymark AI Video Creator makes it so fast and easy to create compelling commercials — with no experience required — that it’s now possible to show every potential client exactly how good their business could look with a professional spot. Users just choose from a wide selection of video templates, AI does all of the heavy lifting, and then customers can easily make edits, share previews, and download the approved files. It all takes just a few minutes and helps you shorten sales cycles and earn more business. It’s radically changing the economics of the creative process, and allows companies to get campaigns on the air literally in a matter of minutes, rather than weeks.”
Waymark is a creative AI company harnessing the power of breakthrough technology to make video production faster and easier than ever before. With a radically simple natural language interface, Waymark makes it possible for anyone to produce professional quality commercials for any platform — including TV and OTT — in a matter of minutes. The company is based in Michigan and is privately held.