- Chiefmartec released the much anticipated martech supergraphic 2020, 615 Martech businesses faded away in 2019 and didn’t make it to the 2020 martech-scape graphic.
- People won’t be very comfortable eating out in the post COVID-19 world but they showed an inclination towards wanting to support local restaurants and engage in more virtual get-togethers with family and friends.
- Algolia’s search trend report showed that education-related sites grew over 10X and grocery sites grew over 6X. But there’s more of a surprise in the findings, read on to discover.
- Consumers want ads to mention pricing, empathy, availability, and a few more.
- Video ads are the hero of advertising as TV and social media advertising soar.
- The pandemic sunk its teeth into the world economy but the mobile app economy has set its foot for success. Adjust’s App Trends 2020 report reveals the types of apps that are succeeding and their peak consumption hours.
- Snapchat reported $462 million in revenues in Q1 and direct-response advertising now accounts for more than half of its worldwide revenues. IG Live has spiked 288% in the past month.
Despite the global pandemic, there’s a lot happening across the marketing industry. We have taken it upon ourselves to bring you all the key insights weekly, all in one place. Why scour the wide web when all you need to do is check out our weekly update!
So without adieu here are this weekly key-takeaways from the marketing world:
New avenues for martech emerged – The martech landscape supergraphic 2020 says it all
Chiefmartec released the much anticipated martech supergraphic 2020 which shows that the martech industry has grown in participant size by 13.6%.
615 Martech businesses faded away in 2019 and didn’t make it to the 2020 graphic. If you compare it to 2011, that makes it a 5,233% growth in terms of business entities!
One of the most interesting takeaways was – 1 in 5 of the solutions on this year’s martech landscape weren’t there last year. Of all data is the fastest growing category in martech.
The fate of martech in 2020 and post the COVID-19 wave
- More businesses will exit the market as compared to what would’ve happened if not for the coronavirus.
- Marketing operations teams will have to deal with crisis-related issues
- Platform functionality will bring greater cost efficiency to martech builders and buyers
Futurescope view of day one in the “new normal” life – post COVID-19
As more countries begin to plan life after COVID-19, Mower’s new survey shines light on what day 1 post the pandemic might look like.
The marketing, advertising and public relations agency conducted a survey of a 1,000 US adults and found these common activities, that Americans will feel comfortable doing on day one of the post COVID-19 world:
- 46% will go to work right away
- 21% will send their kids back to school
- 28% will take a vacation (16% would fly on an airplane and a mere 12% would travel internationally.)
Habits people will continue after resuming “new regular” lives:
- Practicing better hygiene (42%)
- Avoiding shaking hands (40%)
- Cleaning their homes more thoroughly (32%)
“Old normal” things people won’t be very comfortable doing post COVID-19:
- Eating out
- Visiting a museum
- Working out at a gym
- Going to a sporting event, theme park, casino, spa
However, there’s a silver lining for local restaurants as one in four respondents said they will continue supporting local restaurants with takeout and delivery.
One in five respondents said they see themselves engaging in more virtual get-togethers with family and friends in their post-pandemic futures.
How people are searching online amidst COVID-19 to find and get what they need – Some surprises here
Algolia, a search and discovery solution (Search-as-a-Service platform) processed one trillion search queries to share their Q1 2020 search trends report.
The biggest winners right now and reasons why:
- Education-related sites grew over 10X – People working from home, kids being home-schooled, and people looking to hone their existing skills or wanting to develop a new skill have contributed to this surge.
- Grocery sites grew over 6X – People opting for home delivery and online buying of weekly staples contributed to this growth. There were higher chances of first-time buyers becoming loyal-customers at least until the pandemic prevails.
The data seen below is from January 12 to March 28 which was segmented into country and industry.
The surprise elements of search – Beauty sites grew over 3.5X
As local salons and beauty-related services remain closed, people staying indoors for longer durations are purchasing more self-grooming products, and dyeing their own hair.
The only exception – Sports equipment search grew 74%
People are actively looking for ways to stay active and in shape indoors, they’re keen on equipment such as treadmills, free weights, and stationary bikes.
Search that is sliding
- 69% decline in sports-related sites esp. activewear
- 97% decline in travel as the US, UK, China, and EU countries prohibited flights during spring break
RevJet’s ‘Spring 2020 Ad Experience Sentiment Report’ gives a clear look into the consumers’ minds and preferences.
Consumers revealed they want ads to talk about:
- Shipping time
- Convenience in buying
Another interesting insight was that 83% of people purchase items online with their smartphones.
Video ads remain the hero for advertising
According to Omnichannel marketing intelligence and consumer insights agency, Numerator, radio and display advertising have taken the hardest YoY hit. TV, on the other hand, is on the rise for a third consecutive week.
- RX: Pain Relief ad entered the top-10 in mid-March and have stayed there ever since.
- A 159% increase in ad spend for Progressive YoY pushed the Consumer Property & Casualty category into the top spot for the week ending April 12.
- Non-essential categories including Entertainment, Media, Department Stores and Credit Cards have dropped out of the top 10 as COVID-19 spread.
Non-skippable video ads – When did consumers drop off?
RevJet’s Spring 2020 Ad Experience Sentiment Report gave these key insights:
- 33% dropped off at 10 seconds
- 50% dropped off by 20 seconds
Email marketing is knocking it out of the park
According to the growth marketing company, Iterable email marketing is proving to be the best horse to put your business’ marketing budget on. Iterable mentioned that their clients increased their email send volume by 12.3%.
The three star statistics:
- Email open rates were up by 21.2% month-over-month
- Clicks were up by 14% month-over-month
- Purchases attributed to email increased by 8.5% month-over-month
According to Hubspot, a big bright spot for sales teams last week was email. Both sales sequence send and response rates increased week over week with response rates rising 8%. While it’s too early to call this a definitive upward trend, it’s a promising sight after a few weeks of continuous decline.
Consumers are still engaging with marketing channels as open rates continued to rise last week. In fact, open rates were 25% higher than averages taken during pre-COVID levels.
Marketing teams are finding new ways to interact with customers and email appears to be an effective medium for attracting qualified leads. Even though send rates and contact creation dipped slightly, engagement continues to be high as people seem particularly responsive to email marketing.
The mobile app economy takes centre stage
The pandemic sunk its teeth into the world economy and has left innumerable economies suffering but the mobile app economy has set its foot for success. Adjust, a global B2B SaaS company released its App Trends 2020 report.
The app economy segmentation of sessions and installs:
- Business apps’ sessions were up 105% and installs by 70% (from Q1 2019)
- Revenue events are also up 75% (credits to remote work)
- Food & Drink saw a significant rise in sessions by 73%, while installs increased by 21% (as compared to this time last year)
- Gaming apps saw a 47% increase in sessions and 75% increase in installs
The report also showed that 30% of app installs were from paid sources, indicating that app advertising and optimization are becoming great tools for the app economy playground.
Ecommerce app usage peak hours
- Lunchtime, from 12 to 2 pm
- Evening, from 7 to 10 pm
Food & Drink app usage peak hours
- Evening, from 5 to 8 pm – This accounted for 31% of total daily sessions
Gaming app usage peak hours
- Casual gaming activity rose from afternoon to early evening, from 12 to 4 pm
- Mid-core gaming activity rose from early morning to noon, from 5 am to 1 pm
Now is a good time for social media advertising
Snapchat exceeded expectations and reported $462 million in revenues in Q1 which is a 44% rise from last year’s numbers. It also shared its April 1 to April 19 revenue growth which stands at a 15% as compared to the same period last year. What’s surprising is that direct-response advertising now accounts for more than half of its worldwide revenues.
According to influencer marketing service Takumi’s study, Millenials and Gen Z trust influencers. 34% of respondents in the US and UK credited influencers for their purchase.
Instagram’s IGTV live saw the biggest jump
Klear, the leading influencer marketing platform, has released a complex study that analyzed the impact of COVID-19 on Instagram usage. The study identified that IG Live has spiked 288% in the past month.
The survey that covered over 1000 Instagram users in mid-March discovered:
- UK, France, and Spain saw the most Instagram activity
- 6.1 million Instagram stories were posted between March 15 – March 21 (15% growth)
- Story impressions increased by 21% between March 15 – March 21
- Instagram Live daily mentions increased 288%, during March 14 – April 15
Instagram Live is being utilized more than ever.
These are four emerging trends:
- Talk shows
- Fitness sessions
- Cooking lessons
- Virtual parties
Video content and cooking go hand-in-hand, so it’s no surprise to see chefs, food bloggers, food content creators making use of IG Live. Brands are adapting their influencer strategies to address the current situation and convey their brand values.
Most of these social media platforms can reveal some resourceful data points that can strongly navigate how businesses spend on advertising. These include a host of metrics like conversion-tracking advertising pixel, optimization ad capabilities, bidding based on conversion events such as app installs and improved ad-targeting capabilities.