Hey there! John Cobb here, CEO and co-founder at VuePlanner. I’m excited to share our freshest VuePoints newsletter with you. In this edition, I delve into the significant advancements in AI, adverting forecasts, brand suitability, YouTube, and more. I’ve curated essential updates from our industry’s ever-evolving landscape this week to keep you in the loop with the latest happenings. I’m confident these insights will be incredibly beneficial for you.
Strong Advertising Trends In 3Q23 Indicate Better-Than Expected Full Year 2023 and 2024
In the third quarter of 2023, US advertising experienced substantial growth at 8.1%, surpassing earlier rates of 4.6% in the second quarter and 1.6% in the first. This WALL & MADISON, LLC. articles explains that this acceleration was anticipated but exceeded initial expectations, partly due to favorable figures from the previous year. Digital platforms were the primary drivers of growth, with significant increases seen in search, social media, and commerce media platforms, while national TV witnessed a decline of approximately -3.2%, particularly in traditional broadcast networks. Despite positive momentum in the advertising industry, challenges persist for traditional media like local TV, print directories, and direct mail, showing declines in the face of digital advancements. Learn more.
Holiday Shopping Insights: Keep Momentum with Devoted Shoppers
As the holiday season winds down, enthusiastic shopping persists into January, attracting individuals seeking deals and personal indulgence. This article from Think with Google discusses how brands can seize this post-holiday momentum, as demonstrated by $47 billion spent in the two weeks following December 25, by understanding the evolving shopping mindset. This phase witnesses an uptick in self-gifting (57% of purchases) and deal-seeking behavior, with a surge in interest in loyalty programs (50% increase in searches) during January, indicating a ripe opportunity for long-term brand loyalty. Moreover, consumers increasingly engage with various digital platforms post-holiday, creating an opportunity for brands to maintain connections through diverse digital touchpoints, including Google properties like Search, Maps, and YouTube , thereby enhancing their visibility and engagement with these devoted post-holiday shoppers. Learn more.
Marketers Reflect On Generative AI As ChatGPT Turns One
In its first year, it’s reached milestones like accumulating 100 million weekly users and facing criticism for potential biases and misuse. Despite recent controversies at OpenAI, the tool has significantly impacted the advertising industry, empowering marketers to utilize generative AI for various tasks. In this Ad Exchanger article, industry experts foresee AI evolving to mimic brand voices, enhance efficiency, and automate tasks like content creation and performance marketing. They also anticipate improvements in virtual fitting technology and cultural trend identification, underscoring the potential for AI-driven advancements in marketing strategies. Learn more.
Amazon Introduces Q, an A.I. Chatbot for Companies@
This article from The New York Times discusses how Amazon recently entered the chatbot arena with its workplace-focused AI assistant, Amazon Q, designed for corporate tasks like document summaries and internal support. Unlike consumer-oriented chatbots, Q prioritizes data security and privacy, allowing tailored access to corporate information while integrating with external platforms like Slack and Gmail. Utilizing an Amazon platform named Bedrock, Q combines various AI systems, including Amazon’s Titan, Anthropic, and Meta. Priced at $20 per user monthly, it competes with Microsoft’s and Google’s enterprise chatbots, reflecting Amazon’s push into AI, evident in its investments in Anthropic and its partnership with Nvidia for AI supercomputers using Arm-based chips, posing challenges for dominant microprocessor suppliers like Intel and AMD. Learn more.
This week’s Post of the Week spotlight goes out to Lauren Wiener , Managing Director and Partner at Boston Consulting Group (BCG). In one of her most recent posts, Lauren discusses how women are being overlooked in the areas of health and wealth, despite representing half of the population. Lauren continues by sharing a segment of Washington Post Live’s Global Women’s Summit, in a mainstage segment titled ‘The Untapped Economic Opportunity of Women’s Health & Wealth’ in which some of her colleagues participated.
Despite concerns, there’s optimism thanks to women leaders demanding action and driving positive change. Read Lauren’s full post and watch the full segment she references here.
This week, I really enjoyed listening to the latest episode of the Matt Waller Podcast in which he interviews the CEO and Co-Founder of Tracer, Jeffrey Nicholson. This podcast discusses growth in e-commerce, data management, tech debt and more. I encourage you to go listen for yourself here.