Good morning,
After a long week of tech layoff announcements, Google warns job cuts will continue in 2024.
Keep an eye on the tech space and potential changes to ensure you’re aware of any possible impacts for your brand.
Here’s what you’ll find in today’s DTC:
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Many DTC founders and execs have embraced “omnichannel” as the word of 2024, but remember…
Each new marketing channel has knock on effects — some positive, some neutral, and some (like coupon sites) can even be parasitic to your profitability.
You want to know the halo effect of a potential direct TV campaign on your Amazon sales?
You want to know the point at which your Meta Ads budgets hit negative returns and you start burning cash?
Want to drive a more predictable P&L?
That’s why Keen created their modern media mix analysis platform that helps you plan, measure, optimize, and forecast your marketing investment.
With models trained on 40 years of academic research and 10 years of metadata, Keen ingests your data and produces a predictive profit model for your future revenue.
See The Platform In Action and Start Your Free Trial Today
Are you looking to maximize your performance using Advantage+ Shopping Campaigns?
The Pilothouse team shares how Meta’s Creative Shop team’s insights can be applied to your business.
*These insights are based on over 70 official split and/or conversion lift tests.
Top 5 Creative Insights Boosting Performance in ASC:
1️⃣ Diverse Ad Creatives Improve Performance
Meta’s case study on eyewear brand Caddis demonstrates how results can differ when you run similar ad creatives versus diverse ad creatives which use a variety of ad formats like video and photo.
As a result, the brand saw a 13% lift in purchases when running its diversified ad creative. 🚀
2️⃣ Mixing Hi- and Lo-Fi Assets
Campaigns that incorporate both high and low-fi creative elements see better results.
Subscription-based skincare brand Agency saw a 7% improvement in CPAcompared to campaigns using either hi-fi or lo-fi assets exclusively.
3️⃣ Mixing Static & Video in ASC
Campaigns featuring a mix of static and video elements demonstrated an 8% improvement in CPA compared to campaigns using static assets exclusively.
4️⃣ Mixing Promo & Evergreen Assets in ASC
Successful creative differentiation has been achieved by blending evergreen and promo specific creative.
Campaigns that incorporated promo creative (promo featured on the asset) alongside evergreen assets experienced a 10% improvement in CPAcompared to campaigns exclusively using evergreen assets.
5️⃣ Creative Volume in ASC
In ASC, increasing asset volume positively impacts performance.
The sweet spot is 17 to 20 assets which consistently outperform those with only 4 to 6 assets (with one exception where the product's high price point played a role).
This prompts an interesting question about the necessity for different strategies when selling high-priced products in ASC. Consider exploring this aspect in your 2024 testing plans if applicable.
The takeaway?
If you want to maximize your performance with Advantage+ Shopping Campaigns, use these valuable insights to enhance your advertising strategies.
As we move further into 2024, these proven strategies can elevate your ASC campaigns and stay competitive.
Is your marketing team ready for this new era?
Northbeam, the industry leader in marketing attribution, put together this free 2024 Marketing Preview to help you prepare for profit this year.
Q1 2024 is a make or break moment for marketers, and a lot of us have a few questions, like:
Those and other critical queries were researched, compiled, and answered in Northbeam’s free 2024 Marketing Preview.
Download it for free right now, and set yourself up for success.
Get The 2024 Marketing Preview
Or, reach out to Northbeam and discover how first-party attribution can transform your marketing team into a lean, mean, profit driving machine.
Don’t miss out on key holidays like the Lunar New Year (Feb 10th) when creating your Q1 marketing calendar.
More than 1.5 billion people in the world celebrate this holiday, so why not capitalize on this time that’s centered heavily around gift giving.
If you have a huge customer base that celebrates the holiday, or want to widen your reach, this is a prime opportunity to see a lift in sales. 📈
Here are some tips and tricks to put together a culturally appropriate Lunar New Year campaign that helps increase your AOV and turn first-time customers into repeat buyers.
1. Use a positive color like red
Just like how red and pink are colors often associated with Valentine’s Day, the color red is strongly associated with the Lunar New Year since it symbolizes good fortune and joy.
Brands can use this color as a way to connect with consumers who celebrate Lunar New Year by using it in their product packaging, product photography or through their ad creatives.
(Also doesn’t hurt that red is a powerful color and easily recognizable.)
2. Incorporate the zodiac animal into your product or messaging.
For 2024, the Year of the Dragon symbolizes strength, good fortune, and success which makes it a great fit for many product categories, especially health and wellness. 🐉
Be creative with how you use this figure in your packaging and your limited edition product offerings.
The luxury leather goods brand Delvaux incorporates this zodiac animal into their unique limited edition Nano Lunar New Year bag.
3. Drive return customers with red envelopes
Red envelopes are customarily exchanged during the Lunar New Year and are commonly stuffed with cash and well wishes printed on the front. 🧧
For retailers, gift your shoppers with a red envelope once they reach a minimum spend to help increase your AOV and encourage return shoppers. 💰
Beauty retailers like Sephora have gifted customers in the past with red envelopes containing $8 off vouchers.
4. Numerology is important when setting your prices
This might seem like a small detail, but numbers are important in Chinese culture, so avoid using the number four in your campaign (which sounds similar to the word for ‘death’ 😨).
When determining your selling price, stick with lucky numbers like 2, 3, 6, and 8.
8 sounds similar to the word fortune and is an attractive number to use when you are setting your price for your product or bundles.
5. Make sure your campaign shows cultural appreciation and not cultural appropriation
Spanish luxury brand Loewe did an excellent job this year of creating a very thoughtful LNY campaign. 👏👏👏
Rather than resting too heavily on the color red and a dragon design, they took it one step further, and worked with Chinese jade carvers to come up with new designs specifically for LNY.
They also released a behind-the-scenes video about how these master jade carvers created these unique pieces.
Consider these Lunar New Year campaign tips when you craft your marketing strategy.
Colors, numerology, and zodiac signs should be kept top of mind. Be creative to capture customer attention and keep your campaign message focused on bringing in good luck for the New Year. ✨
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DTC Newsletter is written by Rebecca Knight and Frances Du. Edited by Eric Dyck.
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