THIS WEEK SUMMED UP
Social media is just shopping now and hopefully we’re all learning to be upfront about the use of AI. The back and forth at OpenAI has us asking all the questions about how close we are to Artificial General Intelligence.
Read time: 2 minutes and 32 seconds
THREE PARTS THAT MATTER
Marketing
- TikTok Shopping is ruling holiday purchases and it can be vastly more impactful for direct response than TikTok ads. See the decline in TikTok ad spend as TikTok Shop picks up below.
- Here are some ideas to get converting on TikTok courtesy of Sally Zhang, our live shopping expert:
- If you're a CMO... test TikTok Shop with a smaller brand or single hero SKU. Esteé Lauder is testing it out via Deciem brand The Ordinary.
- If you're a brand marketer... Spend 1-2 hours on TikTok to run a competitor analysis of what’s working in your category. This will give you an idea of how to balance brand identity with product-led storytelling. Use this as an input to collaborate on content with growth marketers.
- If you're a growth marketer... Work out what low effort content is ‘hacking’ the algorithm to get reach/convert. Then work with several content creators to recreate that winning formula. For example, TikTokers are loving stuff going into bags, in jewelry, folks love unboxing.
- Here's what else you need to know about TikTok Shop
- Is it the end of Cyber Monday? Deals were pretty much the same as Black Friday. Some winning BFCM Strategies:
- “Active Sales” - Huckberry and Quince with drops every 2 days or so with certain groups of products with different % discounts, giving you reasons to keep coming back
- Avoiding Discounting - The Apple effect - brands like Nordstroms giving gift cards with purchase.
- Creating Urgency - "low stock" messaging leading up to actual Black Friday and on at least one occasion, bought something that was discounted more during the weekend and didn't run out of stock
- And some BFCM strategy fails - fake sales at Target and everywhere
Culture