Digital Digest #110
Core talks about The Growing Importance of Effectiveness in Online Advertising
As digital advertising investment surges in Ireland, it's imperative that brands ensure their online ads are effective. Ian Campbell from Zenith highlights that while digital ad spending is set to exceed €1 billion in 2024, its effectiveness often lags behind traditional media.
To address these growing concerns, Ian summarises the main challenges and their corresponding solutions below:
Low Effectiveness:
One of the primary concerns is the often lower effectiveness of digital ads compared to traditional media. To address this issue, Campbell recommends prioritizing premium media metrics like high viewability and video completion rates.
Capturing Attention :
Another challenge lies in capturing consumer attention amidst the barrage of ads. To overcome this, advertisers should create attention-grabbing ads tailored to each platform and focus on quality over quantity.
Attribution Challenges:
Attribution modelling has become more difficult over the last few years, because of the shift to GA4 and the impending deprecation of third-party cookies. To help overcome this challenge, Ian suggests implementing a balanced attribution framework that considers both short-term performance and long-term brand building.
Creative Effectiveness:
Finally, creative approaches play a pivotal role in ad effectiveness. Innovative and attention-grabbing creative content is more likely to capture and retain attention. Ian advises prioritizing local, unique, and emotionally resonant creative content.
By focusing on these areas, brands and agencies alike can improve the effectiveness of their digital campaigns and achieve better results in the ever changing landscape of advertising. You can read a more detailed review of Ian’s article here on Adworld.
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Google Analytics 4 introduces benchmarking data:
Google Analytics 4 (GA4) has introduced a new benchmarking feature, allowing users to compare their performance with industry peers. This update provides businesses with valuable context for strategic decision-making and goal-setting by offering insights into how their key metrics stack up against others in their industry.
To access benchmarking data, users must enable the “Modelling contributions & business insights” setting in the Admin section of their GA4 account. The benchmarking data is refreshed every 24 hours, and users can view a summary that includes their trendline, the median performance of their peer group, and the performance range (25th to 75th percentile).
Screenshot of GA4 Benchmark data
Key features of this update include customizable peer groups, where users can select specific categories for more relevant comparisons. Google ensures that all benchmarking data is encrypted and aggregated to maintain privacy. The feature covers a wide range of metrics, including acquisition, engagement, retention, and monetization.
This new benchmarking tool addresses a long-standing demand from the analytics community for comparative data, enabling businesses to better understand their performance in an industry context. Users are encouraged to explore this feature in their GA4 accounts to enhance their analytics insights and make more informed decisions.
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Searchengineland,2024
Instagram Adds Stories Comments To Encourage Interaction
Instagram is introducing a significant update that aims to boost user interaction and engagement. The new feature allows users to comment directly on Stories, making it easier for people to share their thoughts and reactions to the content they're viewing.
Previously, users could only react to Stories with emojis or send private messages to the creator. With the addition of comments, Instagram hopes to create a more dynamic and social experience for its users. Comments will be visible to everyone who views the Story, potentially leading to more discussions and increased visibility for creators.
For creators, the ability to enable or disable comments on their Stories provides a level of control over their content. Those who prefer a more curated experience can choose to turn off comments, while those seeking more engagement can allow them. This flexibility allows creators to tailor their Stories to their specific goals and preferences.
It remains to be seen how this new feature will be received by Instagram's user base. While it has the potential to enhance the platform's social aspect, there are also concerns that it could lead to an increase in negative comments and trolling. Only time will tell whether this new development will be a positive addition to Instagram or a step in the wrong direction.
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