Welcome to a new week. Matt, Kylie and Tom have shared their top stories in paid search, SEO and PR. In Search Engine Land’s latest report, we discover some key Google Ads benchmarks for 2023. Forbes’ shed light on the transformation of online advertising and its impact on public relations, Google’s AI policy agenda is revealed and we explore the intriguing shift in attitudes among marketers towards Non-Fungible Tokens (NFTs) following Nike’s virtual sneaker drop. Here’s this week’s digital news to watch.
Table of Contents
Google’s AI policy agenda: Focus on fairness, privacy & responsible innovation
Google has set forth several key principles to guide its AI development and usage. Google emphasises the importance of fairness in AI systems, aiming to avoid biases and ensure equitable outcomes, and is committed to addressing bias issues and increasing diversity within its AI teams to minimise algorithmic discrimination.
Privacy is another major concern for Google. The company recognises the need to protect user data and develop AI systems that maintain privacy and security. Responsible innovation is a central aspect of Google’s AI policy. The company emphasises the importance of developing AI technologies that serve societal interests and adhere to ethical standards. Google aims to create AI systems that are accountable, reliable, and explainable.
Search ad conversion rates are down but cost per lead is up
Search Engine Land has pulled together the key Google Ads benchmarks for 2023, providing valuable insights into conversion rates, cost per lead (CPL), click-through rates (CTR), and cost per click (CPC). The data reveals that conversion rates vary across industries, highlighting the importance of understanding industry-specific dynamics. Similarly, CPL, CTR, and CPC metrics also fluctuate based on industry factors such as competition and audience demand. However, what advertisers will see is that nearly all sectors saw a drop in conversion rate and increase in CPL. With the market being tougher to operate in than ever before, we’re likely going to see advertisers look for other opportunities for budget outside of Google and Bing.
How social media, content and PPC ads are changing PR
This Forbes article highlights that traditional PR methods are no longer sufficient in the digital age, where consumers are heavily engaged with social media platforms. As a result, PR professionals need to adapt their strategies to effectively engage with their target audiences.
Social media platforms, such as Facebook, Instagram, Twitter, and LinkedIn, have become vital channels for PR practitioners to disseminate their messages. These platforms allow direct communication with consumers, creating opportunities for building relationships and fostering brand loyalty. Content marketing has also gained prominence as a key PR strategy. By producing valuable and relevant content, companies can establish themselves as industry thought leaders. Similarly, PPC ads are amplifying this content to reach a broader audience.
Nike’s virtual sneaker drop using NFTs intrigues marketers
Nike’s recent virtual sneaker drop using non-fungible tokens (NFTs) has shifted marketers’ perception from cynicism to intrigue regarding NFTs’ potential. By allowing consumers to purchase limited-edition sneakers as NFTs, Nike created exclusivity and digital ownership, garnering excitement. This success has prompted marketers to explore NFTs as a means to engage audiences, create scarcity, and tap into the collectibles market. Brands are now considering using NFTs to enhance brand experiences, reward customer loyalty, and drive revenue. Nike’s virtual sneaker drop has sparked a shift in sentiment towards NFTs, transforming cynicism into curiosity and opening doors for innovative marketing strategies.
Paid search advertising and SEO may see reduced investment in 2023
According to Gartner’s latest CMO Spend and Strategy survey, paid search advertising and SEO are among the channels most likely to have reduced investment in 2023. 53% of CMOs planned to invest more in social advertising, compared to 14% who are decreasing investment. Two other categories that can expect more budget in 2023: digital video advertising and influencer marketing.
The survey also reveals that CMOs are increasingly focusing on mobile optimization. With the rise in mobile usage, CMOs understand the significance of delivering seamless experiences on mobile devices and optimising their marketing strategies accordingly.
How AI is starting to influence public relations and marketing
Artificial intelligence (AI) has brought about a significant transformation in many industries, including public relations (PR) and marketing. The advancements achieved in today’s global business landscape were unimaginable just a few years ago. Companies are leveraging AI to customise their messaging, offer immediate customer service, and make data-informed decisions. The integration of AI technologies has empowered businesses to enhance their communication strategies, improve customer experiences, and derive valuable insights from data. Sabrina Stocker – the founder of public relations agency Two Comma PR – explains five ways that AI is transforming the worlds of PR and marketing.
- Reputation management (listening to people)
- Personalisation (engaging customers on a personal level)
- Content creation (accelerating written output)
- Chatbots (levelling up customer service)
- Predictive analytics (making data-driven decisions)
For more information on any of these stories and how they might impact you, or if you need support with any of your digital marketing services from SEO, PPC to CRO – get in touch with our team by sending us an email to team@modo25.com
