Facebook Knows What You Bought This Summer
Once upon a time, Facebook was a simple social media site designed exclusively for students to keep in touch and stay in the know about their friends’ lives. That was then.
Nowadays, as most of us know, the social platform has been populating headlines for its innovations in the digital advertising space, as it should be, considering a cool $3.3 billion of its revenue comes from ads.
And we’re not just talking any kind of digital advertising, either. That’s right, we’re talking mobile — the buzzword of the year(s) and the frontier that has companies across all verticals scrambling to innovate on.
Facebook is at the forefront of that innovation, announcing today yet another way that the social platform is changing the entire shopping journey as we know it, with its Offline Conversions API and the Store Visits metric in its reporting tools. How? Thanks to beacons, Wi-Fi, GPS tracking, radio signals and cell towers, Facebook can essentially track consumers’ online and offline behavior. Businesses will have access to insight into everything from demographic data to the effectiveness of digital campaigns on consumer behavior outside the digital space.
Don’t think Facebook’s forgotten about the consumer, either. While these big changes are primarily on the back end of things, a Store Locator feature is also being rolled out, to make Facebook a one-stop shopping destination.
And we know what you’re thinking — what does Google have to say about this? Between retargeting ads on mobile sites and this blatant attempt at capturing the Google Maps market, it’s gettin’ hot up in this digital space. We’ll be keeping an eye out for a response from Google, but for now it’s radio silence on the battlefield.
Retail is changing, but the death of brick-and-mortar may not be so imminent after all.
Snapchat 2.0: Not Another Teen Trend
By now, Snapchat has become a household name. With roughly 150 million daily active users (about 15 million more than Twitter), it’s hard not to be. Whether you like it or not, know how to use it or not, or think it’s a complete waste of time (or not), you know it exists, and you know that it’s taking the world by storm.
Snapchat knows this, too, which is why it announced a major revamp of its ads offering, a clear and present “come at me, bro” to digital advertising leaders such as Facebook, Google and Twitter. The move also could be the push Snapchat needs to move away from venture capital funding and into a possible IPO.
Among the many offerings that it announced alongside the app update are registered partners for both ad tech development and creative, expandable “snap ads,” and ads between snap stories, to name a few.
Overall, Snapchat is making its giant user base increasingly more accessible to businesses, offering a unique ad product that will be hard to disrupt. For retailers, it’s an effective way to reach an audience with over $200 billion in annual buying power — so long as they’ve got the cash to do it.
A Kingdom of Amazon
A few weeks ago, we touched on Amazon’s latest addition to its e-commerce empire: Amazon-branded consumer product goods. Amazon’s foray into the manufacturing space left few people surprised, with the announcement coming around the same time as its leasing of a fleet of planes, hitting the $100 billion revenue milestone and a growth potential that could make it the biggest company in the country by 2020 (casual).
However, our executive chairman Scot Wingo sees the opportunity as a much more strategic move. When looking into the top selling Western products on Tmall, China’s leading marketplace, most of them fall into the exact categories as Amazon’s private-label goods.
An imbalance of supply and demand of these Western products combined with an internationally renowned brand like Amazon make a strong entry into the Chinese market a no-brainer. Nicely played, Mr. Bezos.
Blog post by Anna Torres, social media and blog specialist, ChannelAdvisor