Snap, the popular social media platform, has recently announced a strategic partnership with Fospha to bolster measurement capabilities for eCommerce advertisers utilizing Snapchat. This collaboration aims to tackle the ongoing challenge of accurately gauging the impact of impressions-led advertising, particularly in the face of new privacy regulations that have complicated the acquisition of dependable data.
The Limitations of Traditional Click-Tracking Methods
Conventional click-tracking approaches, such as last-click attribution and multi-touch attribution (MTA), often fall short in capturing the true value of upper-funnel activities. A study conducted by Fospha in 2023 revealed that these methods overlook approximately 74% of sales stemming from impression-based media. Furthermore, Fospha's analysis of its client base indicates that brands neglecting higher-funnel activities like Snapchat advertising tend to face inflated acquisition costs and diminished returns on advertising expenditure.
The Growth Potential of Snapchat Advertising
Despite these challenges, a recent report by Fospha identifies Snapchat as a pivotal growth avenue for brands. The study showcases a staggering 504% surge in return on ad spend (ROAS) on Snapchat from 2022 to 2023, even amidst a 76% year-over-year increase in advertising spend. This data underscores Snapchat's potential for enabling brands to achieve robust performance levels at higher spending thresholds.
Commitment to Performance Enhancement
During Snap's Q4 2023 earnings call, CEO Evan Spiegel underscored the company's dedication to enhancing performance outcomes for advertising partners in the upcoming year. Fospha's findings align with this strategic focus, revealing a consistent uptrend in Snap's ROAS following the revamp of its performance products in late 2022 and early 2023. The collaboration between Fospha and Snap underscores a shared objective of empowering brands to elevate their attribution capabilities, pinpoint growth prospects, and optimize returns on advertising investments.
Fospha's Innovative Approach to Digital Marketing Measurement
Fospha offers a groundbreaking cross-channel digital marketing measurement approach. Its no-code implementation streamlines the process, enabling clients to go live within 2 to 3 weeks and access a year's worth of comprehensive performance data spanning impressions, clicks, and zero-party data. Crucially, Fospha's solution prioritizes privacy and refrains from leveraging user-level personal information.
Excitement Over the Partnership
Sam Carter, CEO of Fospha, expressed enthusiasm regarding the partnership with Snap, emphasizing, "We're delighted that Snap has recognized Fospha as a key partner, validating our mission to empower eCommerce brands to spend confidently. Our product enables us to unveil the untapped potential existing within paid social media for brands. Based on the encouraging data from advertisers, we hold a particularly positive outlook on Snap's future. Collaborating with the Snap team to assist retailers in unlocking this potential is truly invigorating."
For further insights into Fospha and its collaboration with Snap, feel free to directly reach out to Fospha or contact your dedicated Snapchat account manager for additional information.
The post Snap Selects Fospha as Measurement Partner for Retail eCommerce appeared first on Search Engine Watch.
Frequently Asked Questions
What are the four functions of marketing?
Marketing is the art and science of creating demand for products or services.
It contains information about an organization's products and values as well as the impact they have on customers' lives.
Marketing can also increase interest in an offering and build awareness. Finally, it drives action (or buy) in response a invitation to act.
The following are the four functions that marketing has:
- You can create demand by building relationships with potential customers and convincing them that your product/service is worth their time.
- Stimulating interest: This is a way to increase awareness about your product.
- Building Awareness – This refers to making sure consumers are familiar with your product and services, as well as why they might be interested in buying them.
- Driving Action – This is ensuring that customers make purchases once they are aware of your products or services.
Social Media Marketing allows you to promote your company online. It's a great way to build brand awareness and generate leads. Here are five social media marketing strategies to help your business grow.
- A Facebook Fan Page allows you to interact with customers via Facebook. Upload photos, videos, as well as other files.
- Twitter Promote Your Business – Twitter offers a great way to share information and connect people. Increase visibility by using hashtags
- Post Videos on YouTube. Many people enjoy watching these videos. If people like what they see, they may click on your website.
- Host Live Events – Having live events allows you to meet face-to-face with potential clients. They can ask questions about your products and services.
- React to Customer Reviews – Positive reviews build trust and encourage repeat purchases. React quickly to negative comments.
Why is it so important to define your brand?
Your company's promise to customers is a brand. A brand promises specific qualities and benefits that make your company stand apart from other companies. Your brand is what differentiates you from others in the same industry.
Your brand will give you authority and credibility. Your logo instantly identifies your company to potential customers. Because you have earned their trust, they will trust you.
Your company's culture also influences your brand. Your brand is likely to reflect your passion for your product/service if your employees are passionate about it.
Your brand is more than just words and pictures. Your company must live up to this promise. It's your promise to give value to your clients.
You should take into consideration several aspects when creating your brand. First, choose a name that is clear and concise. Sweet Dreams Bakery is a good example of a bakery name. However, if your company is a software one, DreamSpark Software would be the best choice.
Next, consider how your brand will be presented. Do you want to use a well-known symbol? Are you going to use corporate colors? Will you use logos
Finally, consider the perception of your brand by your target audience. Do you present yourself as helpful and friendly? Do you seem trustworthy and professional? Will you seem knowledgeable and experienced?
These are all questions to ask before you build your brand.
How do you build an Ecommerce Marketing Plan
The first step in selling is to determine what you want. These should include products and/or services relevant to your business, but also enough variety to keep customers engaged.
The second step in marketing is to decide how much money you want to spend on advertising and promotions. There may be multiple marketing methods you need, such direct mail and email blasts as well as social media sites and search engine optimization.
Once you've determined how much money you require, you can create a budget. Asking a specialist in e marketing might help you decide which marketing method is right for your business. They will help you decide which method is right for your business.
Once you have created a plan, it's time to start implementing it. You can also hire someone to help you with the work.
Start from scratch, you don't have to reinvent the wheel. Use proven strategies that have worked well for other online retailers. Before making any changes, make sure to test it all.
You should never forget that your ultimate goal is to increase sales and profits. Your eCommerce marketing strategy has to take into consideration both short-term goals, and long-term objectives.
If you're looking for a way to boost your sales, read our article about eCommerce marketing tips. We hope these tips will help you achieve success.
Statistics
- In 2017, 34% of marketers cited co-branding as the most effective way to increase the number of email subscribers. (influencermarketinghub.com)
- From 2020 to 2022, eMarketer predicts that digital marketing will grow by 36% and take up 54% of marketing budgets! (marketinginsidergroup.com)
- This allows us to deliver CPCs that are 80% less than average and CTRs 4-5 times higher than average. (marketinginsidergroup.com)
- Today, 81% of brands around the world have affiliate programs. (influencermarketinghub.com)
- Many experts recommend you share 20% of your promotional content and 80% of other valuable content you find. (marketinginsidergroup.com)
External Links
blog.hubspot.com
youtube.com
influencermarketinghub.com
statista.com
How To
20 Top Affiliate Marketing Strategies for 2022
Affiliate marketing could be a good way to make some extra money online. This is the easiest way to get started. First, sign up for an affiliate platform like Commission Junction. Then place links on your site or blog. A commission fee will be charged to you if someone purchases via one of your links.
Here are 20 different affiliate marketing strategies you should try in 2022
- Create a Content Calendar
- Google Adwords
- Start Your Podcast
- Join A Blogging Network
- Register Your Email Address
- Reviewers Get Paid
- Make an Impact as an Influencer
- Offer Free Trials
- Start a Membership Site
- Amazon: Buy Products
- Write Articles
- Start a YouTube Channel
- Host Events
- Develop A Mobile App
- Promote Your Business Online
- Run Facebook Ads
- Register for a Twitter Account
- Increase Instagram Followers
- Be Transparent With Customers
- You can make more money long-term
————————————————————————————————————————————–
By: 10546
Title: Snap Partners with Fospha to Enhance Measurement Capabilities for eCommerce Advertisers
Sourced From: internetlib.org/snap-partners-with-fospha-to-improve-measurement-for-retail-ecommerce/
Published Date: 3/26/2024 2:09:35 AM