In this weeks digital news to watch, our Senior Performance Marketing Manager, Tom, and Senior Performance Marketing Executive, Kylie, discuss the rise in email marketing, Gousto’s supercharged growth, marketing budget mistakes to avoid in 2022 and how FatFace topped the BOSCO™ Index league table for November.
As we near the end of third party cookies, the industry is being forced to think of alternatives to target consumers effectively online. Email marketing is one of the obvious options, however marketers must be aware that it will not be as effective as cookies previously were. Apple were the first to announce that the use of third party cookies is being significantly reduced to protect the data privacy of internet users, and showering consumers with email marketing shows a complete disregard for what the change in cookie usage is trying to protect. A series of alarm bells highlighted by The Drum explains why email marketing is not a sustainable option.
80% of Gousto’s sign-up came from performance marketing in 2018, and in 2019, they made the transition to brand-building TV advertising. Anna Green, Gousto’s Vice President, stated that it had “paid off” in driving rapid growth for the business. Although Gousto already had two years of foundations of TV advertising, they agreed that they had reached optimum performance. The TV campaign “Give It Some Gousto” was launched during the pandemic, and lead to the vast number of sign-ups. Three years later, 82% of sign ups come from referrals and word of mouth advertising, showcasing the power behind the TV campaigns.
Gousto’s profits in the year ending 31 December 2020 were at £18.2m, after doubling sales to £189m due to the pandemic.
As CMO’s plan for next years budget, Aimee Schuster, the CEO and Founder of Bandwidth strategy talks about five marketing budget mistakes to avoid in 2022.
She speaks about the difficulty of setting a marketing budget, and how they are never truly ‘set’. Amidst market fluctuations such as recessions, supply chain disasters, stock market crashes and the reality of the pandemic, setting a marketing budget is truly challenging. Her five marketing budget mistakes to avoid are: stop trying to hire, pull back from online advertising, don’t ignore the new SEO updates, don’t invest only in long-form video, and avoid assuming events will return or be the same.
Google ads are enabling businesses to have access to larger amounts of data from the Insights page to aid in maximising sales during the upcoming holiday season. Google have predicted that 53% of consumers will shop online more than last year. The insights page will allow companies to spot trends and optimise their shopping campaigns accordingly. The four new features that will be made available to companies are: demand forecasts, consumer interest insights, audience insights and change history insights & auction insights.
The Digital Marketing Intelligence Platform, BOSCO™, scored ten leading fashion retailers in the UK for the months of October to November. FatFace topped the league table, closely followed by Forever21 and New Look.
Despite a challenging 16 months for the retail sector, FatFace vowed to keep trading online and invested a significant amount into their e-commerce operations. The brand reported global e-commerce sales growth up 9.1% in 2020, using a more data-driven, analytic approach to reach customers during the pandemic.