We’re tracking the latest insights from various marketing and advertising publications. Here’s a rundown of what we’re reading for the week of July 26th, 2021.
The Wall Street Journal
Google’s parent company Alphabet Inc. reported Q2 revenue of $61.88 billion, a 68 percent increase from a year earlier. Profit more than doubled to $18.53 billion and sales from advertising reached $50.44 billion—the latter representing a 69 percent increase.
Why it matters: Chief executive officer Sundar Pichai credits the strong results to “a rising tide of online consumer and business activity,” adding that digital publishers and YouTube partners earned more during the period than any other moment in the company’s history.
According to a study from LinkedIn’s The B2B Institute and the Ehrenberg-Bass Institute at the University of South Australia, lack of brand awareness is a larger issue by four to eight times than brand rejection, particularly for smaller B2B brands. The study analyzed the buying preferences of over 1,200 buyers of business banking in the UK and business insurance in the US.
Why it matters: While 90 percent of respondents said they won’t reject a brand they’re unfamiliar with, most B2B marketers focus on lead gen strategies at the expense of creativity and brand building.
As part of a marketing overhaul, Cheesecake Factory will develop a loyalty program tailored to its hardcore customers, shift its database to a new customer-relations management platform and switch to a more “commerce-forward” website that’s expected to turn more casual visitors into order-placers.
Why it matters: Cheesecake Factory will execute the overhaul with the help of new ample consumer research following successful targeted campaigns it ran during COVID which drove sales and frequency.
Coca-Cola is selling a series of four NFTs (non-fungible tokens) as a single asset, with proceeds benefiting Special Olympics International. The NFTs, created with Utah-based startup Tafi, include a pixelated version of Coke’s vintage 1956 vending machine; digital versions of the company’s 1940s trading cards and a “sound visualizer” featuring classic Coke sounds such as a bottle opening and a drink being poured over ice. The NFTs will be sold on OpenSea from July 30 to August 2.
Why it matters: Coca-Cola’s foray into NFTs is an extension of the collectibles it’s been selling in real life for years. On the company’s website, a limited edition Norman Rockwell set of four Coca-Cola prints goes for $400. According to Coca-Cola senior director of global digital design, Joshua Schwarber, NFTs allows the company to reimagine its assets through unique, multi-sensorial experiences.
According to the World Economic Forum’s 2020 “Future of Jobs” report, about half of all employees will need reskilling by 2025 due to technological advances, and some 70 percent of employers plan to offer the resources necessary.
Why it matters: A large majority of online-based employers are considering making nearly half of their workforce remote, which means new or existing roles will become location-agnostic. As a result, the potential pool for candidates will expand significantly. Plus, given so many applicants are either advancing their skillset via online certifications or classes, there will be more metrics by which to assess candidates than previously.