July 2022: What's new in the world of digital
Posted on 8th August 2022 at 21:11
Today we look back at some of the key changes and innovations across all aspects of digital in July 2022. We give you a snapshot of what the update is, why it is important and what action should you take. Pinterest and Google takes centre stage in this months updates ...
Pinterest Launch New Shopping Functionality
What is it?: Pinterest continues to invest in their platform, with announcements on the 6th July of four new features including Product Tagging on Pins, Video in Catalogs and Shop Button in business profiles.
Why is it important?: Recent reports have shown that the ad revenue generated by Facebook (and Instagram) have dropped for the first time. We have seen many brands struggling to justify their level of investment, with increased challenges around the accuracy of the targets. These new releases by Pinterest are at a perfect time, as retailers and brands are looking to carry out their final testing, prior to peak.
Jeremy King, SVP of Engineering at Pinterest has been quoted as saying that "In 2021, the number of Pinners engaging with shopping surfaces on Pinterest grew over 215%, and 89% of weekly Pinners use Pinterest for inspiration in their path to purchase."
What action should you take?: For a limited time, Pinterest are offering free spend credits on all new Pinterest paid accounts. If you are new to Pinterest from an organic perspective, we would recommend adding a minimum of 20 pins, with content aligned to search intent on the Pinterest plaftorm before launching with paid activity. We would also recommend that your optimised product feed is submitted, to take advantage of these new features, increasing revenue from the channel.
Google makes it easier for ad creators with new functionality
What is it?: On the 20th July, Google launched 3 new features within Google Ads to enable advertisers to collaborate and create video ads, including a new centralised area to store all assets, a video creator solution, in addition to audio voiceover.
Why is it important?: Whilst Google own YouTube, the media giant is facing stiff competition from video first platforms including TikTok and Instagram for share of consumer and ultimately ad revenue. Google have recognised that organisations are not setup to create such content. The recent developments should allow for marketers to create such content, without the need for videographer support.
What action should you take?: These tools are a great addition for advertisers looking to work across Google Display inventory and migrating to Performance Max campaigns. All of these features are availble to use in Google Ads to build into your teams workflow.
Cookies stay in Chrome until 2024 (at least) !!!
What is it?: On the 27th July, Google confirmed further changes to their timelines for deprecating cookies, with a date some time in 2024 being provided. This delay has been based on feedback from marketers, developers and publishers. This timeline has already been extended a number of times, including the failed FLoc project.
Why is it important?: Whilst consumers opting out of being tracked has been on the rise over the last 12 months, many ad solutions and personalisation providers still rely on cookie data to ensure that an advertisers campaign is targeted to the most relevant customer. With Chrome holding more than 63.5% of market share, this extension gives advertisers more breathing space.
What action should you take?: Whilst this extension is beneficial for both advertisers and tech companies alike, for advertisers we still strongly advocate putting as much investment as possible in developing your first party data, from a volume perspective, in addition to the information you hold about leads and consumers.
Discover more: Google cookies will remain active on Chrome until 2024 and Google timeline
Our final thoughts ...
Whilst TikTok continues to be the flavour of the month for many agencies and brands, the diverse and engaged audience (Pinners) which uses Pinterest on a daily basis for inspiration should not be ignored. If you do not have a presence on Pinterest, it's not too late to reach new customers prior to peak.
If you would like further information on any of the above updates or you would like to access a free no obligation consultation, please get in touch to understand how we can help you.
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