Tesco and Pinterest Partner, Leveraging Clubcard Data
Tesco Media and Insight Platform has announced an offsite media partnership with Pinterest. This collaboration will enable leading UK Consumer Packaged Goods (CPG) brands to connect with Tesco customers seeking inspiration on Pinterest. Using Tesco Clubcard data, brands will be able to deliver highly personalised ads. The UK, with 17 million monthly active users on Pinterest, is one of the platform's largest communities and offers a significant opportunity for brands to target the right shopper at the right time. Pinterest ads boast a 2x higher return on ad spend and a 2.3x cheaper cost per conversion compared to other social media platforms. The partnership also includes the use of five ad formats on Pinterest, and Tesco's sales conversion report will attribute sales to users who viewed the ads. [1]
LinkedIn Developing Video Ad Product for Streaming Services
LinkedIn, owned by Microsoft Corp, is developing a video advertising product that will enable marketers to target LinkedIn users while they watch content on streaming services. This follows LinkedIn's introduction of AI features to assist advertisers in creating ad content, as part of the company's strategy to grow its ad business in the face of economic uncertainties affecting advertising budgets. "In-stream video ads can change the way brands and buyers reach and engage their audiences," said Penry Price, Vice President of Marketing Solutions at LinkedIn. The company's trailing 12-month revenue exceeds $14 billion, with an 8% year-on-year increase as of the third quarter of fiscal year 2023. LinkedIn generates income from ad sales and subscriptions for recruiters, job seekers, and sales professionals. [2]
YouTube Launches Live Stream Shopping Channel in South Korea
YouTube is launching a live stream shopping channel in South Korea, indicating a significant move towards in-app commerce. While Western audiences have shown moderate interest in in-app purchasing, Asian consumers, particularly in China, Indonesia, Malaysia, and Singapore, have adopted social shopping options at increasing rates. YouTube's new official shopping channel, the first of its kind, will focus solely on live commerce. The channel, launching on June 30th, will provide a live commerce platform for companies and plans to live stream shopping content with about 30 brands at launch. Although YouTube already offers a range of in-stream shopping options, this is the first time it is launching a dedicated live-stream shopping channel. The move aligns with the growing in-stream commerce trends in Asian markets, laying a foundation for potential expansion into Western markets. [3]
TikTok Introduces Interactive Add-Ons for Promotions
TikTok is introducing Interactive Add-Ons, designed to help brands engage consumers more effectively. These add-ons are essentially stickers, pop-ups, and other visual cues that invite users to interact with ads. They provide new ways to trigger a direct response from TikTok users. According to TikTok, viewers who have shared, liked, or commented on a TikTok brand video are 150% more likely to buy a product or service. The new Interactive Add-Ons come in two forms: Standard and Premium. Standard add-ons aim to reach lower-funnel marketing goals, like driving clicks and conversions, while Premium add-ons are designed for upper-funnel goals, like brand awareness and community building. These new features could be valuable tools for driving more engagement with TikTok ads and capturing users' attention more effectively. [4]
[2] Reuters
