Social media ad wars, TikTok's new talent management portal, awarding the retailer with the best customer experience, and more ...................................................................................................................................................................................
Where has the time gone? It's been another busy week in retail and e-commerce news with exciting developments from all corners of the industry. Here are some of our favorite stories that have caught our eye this week:
In an effort to shake up the TikTok monopoly, Google and Meta have emerged as formidable competitors in the social media sphere.
TikTok has recently released a Talent Manager Portal, offering managers an incredible opportunity to negotiate lucrative brand deals for their clients.
Boasting regular pay and restrained expenses, "zillennials" are becoming a powerful consumer base in the retail sector.
An exclusive poll revealed that Amazon, Tesco, and Asda offer the most satisfying customer experience out of all retailers.
Top Retail and E-commerce Stories
Who Will Win the Social Media War?: Google, Meta, and TikTok are all Vying for Control
Photo Credit: Chinnapong / Seeking Alpha
The social media sphere is heating up!WithGoogle and Meta throwing their hats into the ring, we have an exciting battle for social media supremacy on our hands. In 2023, Google and Meta are escalating the rivalry by introducing their respective short-form video products to counter TikTok's growing presence. Both companies are actively promoting these new tools in order to stay ahead of the competition.
Instagram Reels has been improved across the board, from its core algorithm to better integration with Meta's services and global improvement accessibility. Thanks to Instagram's steady growth - projected at 2.5 million monthly active users this year - more people are discovering and engaging with Reels, making it an increasingly attractive advertising platform for advertisers everywhere.
As Meta races to compete with TikTok, Google has now become a powerful player in the short-form video segment. The introduction of YouTube Shorts after Reels was met with enthusiasm from users around the world and is becoming increasingly successful. With both of these platforms striving for excellence and garnering attention, it looks like the social media war is far from over.
The best way to negotiate brand deals.TikTok is facilitating the collaboration between brands and their creatorswith an update to its Creator Marketplace, which now enables talent managers to administrate, execute and evaluate brand deals presented to their clients. This week, TikTok presented its Talent Manager Portal as a component of the Creator Marketplace. This platform permits brands and agencies to connect with more than 800,000 experienced creators globally. With this new resource available to them, businesses can now gain access to an even larger pool of talented people that they would not have been able to reach before!
The rollout of this innovative service allows talent managers, with the permission of their creator clients, to log into the Creator Marketplace and manage all aspects of deal flow. These agents can negotiate contracts on behalf of their talents, provide creative feedback and evaluate reports surrounding a campaign's accomplishments. With this expansion in place, TikTok can now ensure that even "celebrity-level" creators are fully supported - not just those who have tens or hundreds of thousands of followers.
It is shared that according to TikTok, "brands who work with creators see a 26% lift in brand favorability and a 22% lift in brand recommendations. In addition, 71% of TikTok users say that a creator’s authenticity is what now motivates them to make a purchase from a brand."
Your New Best Customers: "Zillenials" are Changing the Retail Landscape
It's a zillenial thing!This past week,a new consumer base - the "zillenials" - has become a powerful force in the retail sector. Nestled between the millennials and Generation Zs lies this small demographic that were born somewhere in the time range of 1990 to 2000, comprising about 30 million people who have never lived without digital technology and mobile devices. With their frequent need for economical living options, these buyers become an attractive group for companies targeting those involved with m-commerce specifically.
According to the ConnectedEconomyâ„¢ Monthly Series report titled "Meet the Zillennials," over a third of this generation (the oldest are 33 years old) -- roughly 11 million people -- still live with their parents and siblings, meaning they typically don't pay rent or utilities.
This demographic has both disposable income and a lack of expenses, giving them the spending power to purchase goods as well as experiences. In addition, over half (54%) are employed full-time and an additional 12% work part-time jobs; this indicates that "most zillennials have already made their way into the workforce with more money in hand." Furthermore, about 50% utilize gig platforms for job opportunities.
Who Offers the Best CX?:Amazon, Tesco, and Asda Lead the Consumer Experience Race
Photo Credit: Amazon.com
And the best customer service award goes to...Amazon! This exclusive poll revealed thatAmazon, Tesco, and Asda offer the most satisfying customer experienceout of all retailers. With Amazon's combination of a personalized interface, free shipping for Prime members, and its massive selection of products, it comes as no surprise that they are the leading retailer in terms of customer service.
"Easy" was the common response received when asking consumers how retailers are supporting them. With an increasing demand for swiftness and ease, Amazon has created a benchmark in providing a convenient shopping experience over the past two decades.
The investment in technology seems to be one of the main breadwinners for Amazon's success. As a company that prioritizes long-term gain over short-term profit, technology has none other than escalated its ability to provide "easy" and swift results. It is shown, "for example, in response to the pandemic, labor shortages, and unsustainable courier costs, Amazon doubled the number of parcel lockers in the UK, to 5,000, in the past two years."
Even as prices continue to skyrocket, the focus on ease and simplicity is "something that our customers value every day, especially when budgets are tight, and we have always focused on the best possible customer experience."
Now that we're on the topic of social media war, let's take it to a poll! For you, which social media platforms do you use for paid short-form video ads? We'll post the results next week!
QUICK TIP
Try this. Customers who are referred from Instagram generate an average order value of $65.00, higher among other social media platforms such as Facebook ($55), Twitter ($46), and YouTube ($38).
FUN FACT
Engaging visuals can be incredibly powerful in boosting your engagement metrics; posts with photos receive 53% more Likes, 104% higher comments, and 84% greater click-through rates.
LISTEN UP
On this 68th episode of The E-Comm Show, our host and BlueTuskr CEO Andrew Maff talks about how to drive traffic beyond the initial sale. Tune in to buyer's remorse, the key KPIs you should (and shouldn't) be tracking, and how to properly re-target and re-engage your audience on this latest episode!
WAIT! If you didn't love this week's Click and Conversion, we're sorry! :( We hope that you'll give us another chance and see what next week brings. But, if you feel you must unsubscribe, you can manage your preferences below to make sure you still get all our other great content!
BlueTuskr, 844 East Street Road, #330, Westtown, Pennsylvania 19395, United States, (610) 753-5722
-3.gif?upscale=true&width=300&upscale=true&name=giphy%20(1)-3.gif)
