It’s been another busy week in the digital industry and we’ve rounded up the top four things you need to know to close out your week. We’re covering everything from the TikTok congressional hearing to the newest Discovery ads update for Google Ads and more.
Take a look at the hottest topics and newest product releases for the week of March 20th, 2023.
1. Will TikTok Be Banned or Forced to Sell?
TikTok CEO, Shou Zi testified in front of the US congress on data privacy, it’s impact on mental health, and China’s ability to gain access to U.S. users’ data. There has been discussion about whether TikTok’s parent company, ByteDance should sell its stakes, but Zi stated that if the company was forced to sell, it would “seriously damage investors from multiple countries including China.”
As of now, no final decision has been made. Chacka will continue to monitor the congressional hearings and keep our clients and followers updated with any breaking news.
2. Microsoft Search ads for retail media
Microsoft has introduced a non-targeting solution to keywords: search ads for retail media. Target shoppers based on the categories they browse, and leverage keywords as a booster for campaign bids. The initial tests show that targeting by category shows a 320% higher click-through-rate (CTR) than those without boosting bids by keyword. Retailers also saw 8x higher revenue per thousand impressions (RPM) with this solution.
3. Improvements to Google Discovery Ads
Google Ads has shared its latest improvements to Discovery ads to help advertisers reach customers across more touchpoints:
- Trigger audience interest with product feeds.
- The company shared that by adding product feeds to Discovery ads with sales or lead gen goals, advertisers can achieve 45% more conversions at a similar CPA on average. Chacka Marketing was part of the beta test of this product. Stay tuned to our blog to learn our findings and best practices.
- Turn data into results with product-level reporting and data-driven attribution.
- Advertisers who switch to data-driven attribution from another attribution model typically see a 6% average increase in conversions.
- Measure incremental impact with Conversion Lift experiments.
4. Instagram: Ads in Search Results
This week, Instagram announced it is testing ads in search results that will reach customers searching for business, products, and content. Ads will show up in the feed that people can scroll to when they tap into a post from search results.
What do you think?
And that’s all folks! Make sure to visit the Chacka blog for breaking news and thoughts from our team of experts.
Our question(s) of the day is: What do you think will happen with TikTok’s future? Will they be forced to sell or will the app be banned? We would love to hear your opinions!