Social Commerce Opportunities

In Q2 of this year, Inmar Intelligence and Industry Dive’s studioID conducted a survey of more than 200 brand marketers and a survey of 1,000 US consumers to identify the impact influencers and social media have on purchasing decisions and how influential and important brand marketers perceive the marketing tactics to be. They uncovered potential opportunities that marketers are missing, owing to disconnected perceptions of influencer and social media marketing. Social commerce sales are expected to grow 35.8% this year to $36.62 billion, according to an eMarketer report. This represents an opportunity for marketers who know how to capitalize on that growth.

According to Inmar’s findings, “Marketers are undervaluing the role influencers play in driving sales, because up to 70% of marketers are looking for a linear connection between a post and a sale.” A multistep attribution framework may be better suited for measuring the effectiveness of influencer efforts, as the initial content may be just the awareness step in the full conversion funnel. Their survey to consumers found 84% of respondents have made purchases based on recommendations from influencers and 68% of those who purchased had spent up to $150. Ninety-five percent of consumer respondents find product inspiration from influencers and follow them specifically to learn about new products. Not only are influencers a great avenue for unveiling new products and gaining social proof for those new arrivals, but influencer partners are also suitable for promoting products priced just above impulse buys.

Facebook Brings Reels to Its Main App to Capitalize on the Short-Form Video Trend

This month, Facebook announced that a form of Reels will be coming to the platform. This introduction to the new short-form video format appears to be an attempt to deter users from seeking out TikTok downloads to experience the format. Facebook Reels and Instagram Reels are going to be interconnected, allowing Instagram profiles to also share videos on Facebook Reels in the newsfeed or group feed placement. This format is expected to have a standard set of creation tools, including those for video capture, music selection, camera roll import, timed text, and more.

Walmart Nearly Doubles Ad Sales after Major Investments in Connect Platform

Walmart Connect, the e-commerce marketplace and advertising platform previously known as Walmart Media Group, saw year-over-year growth of 95% in Q2 of this year and is on track to hit $75 billion in global e-commerce sales by year-end. As part of the rebrand to Walmart Connect, the company has partnered with The Trade Desk to incorporate a demand-side platform (DSP) to boost ad revenue and offer this advertising option in time for the 2021 holiday season. According to Marketing Dive, “It also acquired Thunder, an ad tech solution focused on creative automation, and expanded its approved partners program to include HarvestGroup, Stackline and Tinuit to help advertisers run more efficient campaigns.”