Latest report shows a sharp drop in customer acquisition costs for businesses over the past year. So, back in 2021, companies spent about 11% of their turnover on marketing. This year the figure has dropped to 6.4%. There are no prerequisites for improving the situation yet.
In 2021, not only the size, but also the structure of budgets has changed. Based on CEO surveys, 72% of all spending is on digital marketing channels. Basically, customers are sought through email marketing, mobile marketing, paid and organic promotion in search engines, and advertising in social networks.
Start streaming
Video streaming is the best space right now. People want to consume more content and they are ready to watch live streams. You can turn this into a business. Invest money in the equipment and start streaming. During the streams, you can promote affiliate products and get a percentage. That’s a perfect business idea indeed. What you should do right now? Buy Twitch viewers and start consistent live.
Preparing for the death of cookies
In 2021, Google announced that it will no longer use third-party cookies, which are files that are stored on users’ devices and help advertising systems track their browsing behavior. Without cookies, targeting services will not be able to show personalized advertising of goods or services, find out which pages you viewed, which goods and services you were interested in. The refusal to use the technology will begin at the end of 2022. File support will be turned off at the end of 2023.
Retirement of this technology does not mean that Google will no longer provide access to targeted advertising. New tools are already being tested, for example, based on cohort analysis. This is a less personalized and more private approach, but it also examines user behavior.
It is too early to draw conclusions about the trend, but if the main advertising channel for a business is targeting through Google services, then you should take care of new sources of customers. For example, focus on creating a platform on social networks, collecting data for email newsletters, or creating a blog on the site where you can tell loyal customers about new products and brand promotions.
Visual search
This is a technology that helps people search for the information they need using the camera in their smartphone. An example is the Google Lens app, a visual search engine that recognizes objects and landmarks through the camera app.
How does it work? The user takes a picture of, for example, a pair of shoes, and the search engine tells you where to buy a similar one. Or you can scan a barcode using the application and get the information about the product embedded in it.
A similar service is offered by Pinterest: users take a picture of an item, and the application tells you where to buy it on the Internet, finds analogues and offers to look at posts on the social network about related items.
Add your products to Pinterest to make it more likely that users will find your brand. Generate a QR code with a link to your online store using any free service, mark products and advertisements with this code so that users do not waste time searching for a product, but use the camera and immediately proceed to purchase.
