U.S. GDP plunges by 33% in the second quarter, the worst drop in history

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The data reflects the reality of the past few months, as coronavirus cases have resurged and stores have continued to shutter. The Bureau of Economic Analysis today released its second-quarter GDP estimates , and the data illustrates a stunning 32.9%, one-third plunge in the United States GDP. It’s the worst GDP report in history—far surpassing last quarter’s 5% dip, and more than triple the previous worst-ever drop of 10% in 1958. Read Full Story

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Promotional Product Sales Plunge in Q2

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After more than a decade of constant growth, North American promotional product distributors have seen their sales dive at levels they haven’t experienced in the past. Fueled by the COVID-19 pandemic, promotional product sales dropped 44.4% year-over-year (y-o-y) in Q2 2020, per new data from the Advertising Specialty Institute (ASI). The drop in sales began… Read More » The post Promotional Product Sales Plunge in Q2 appeared first on Marketing Charts .

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Marketer’s guide to data-driven marketing attribution

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30-second summary: All attribution models have their pros and cons, but one drawback the traditional models have in common is that they are rules-based. The user has to decide upfront how they want the credit for sales events to be divided between the touchpoints. Markov’s probabilistic model represents buyer journeys as a graph, with the graph’s nodes being the touchpoints or “states”, and the graph’s connecting edges being the observed transitions between those states. The number of times buyers have transitioned between two states is converted into a probability, and the complete graph can be used to measure the importance of each state and the most likely paths to success. A campaign’s effectiveness is determined by removing it from the graph and simulating buyer journeys to measure the change in success rate without it in place. By leveraging a data-driven attribution model you can eliminate the biases associated with traditional …

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Out-of-Home Ad Spend Plummets in Q2 After Years of Growth

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Unsurprisingly, the second quarter of 2020 was not a good time for out-of-home (OOH) advertising. With cinemas, retail shops, large venues, restaurants and bars closed – and consumers told to stay at home due to the coronavirus pandemic – revenues from OOH advertising plunged 45% year-over-year, per recent data from the Out of Home Advertising… Read More » The post Out-of-Home Ad Spend Plummets in Q2 After Years of Growth appeared first on Marketing Charts .

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The Simple Guide to Using Pivot Tables to Understand Marketing Data

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Does the word “pivot table” make you want to scream? You aren’t alone. But, if you aren’t using pivot tables, you could be missing out on valuable insights about the effectiveness of your SEO, social media, or content marketing campaigns. Data is the most powerful resource on the planet right now — some are even calling it the “new oil.” But, are you making the most of your marketing data? If you already have a good grasp of the basics of Excel or Google Sheets, then you have a head start. But I’m here to take you beyond the basic functions like SUM, AVG, or adding new rows. You should be using Microsoft Excel to analyze and organize data from your marketing efforts. Why? Because it’s one of the most underutilized marketing assets out there. It’s safe to say that you probably know how to input numbers, words, dollar amounts, …

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The Best-Laid Plans: Can We Predict Anything About 2021?

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Posted by Dr-Pete I've deleted this introduction twice. To say that no one could've predicted how 2020 unfolded seems trite since we're not even a month into 2021, and this new year has already unraveled. Our challenges in the past year, across the globe, have gone far beyond marketing, and I doubt any of us ended the year the way we expected. This graph from Google Trends tells the story better than I can: The pandemic fundamentally rewrote the global economy in a way none of us has ever experienced, and yet we have to find a path forward. How do we even begin to chart a course in 2021? What do we know? Let's start small. Within our search marketing realm, is there anything we can predict with relative certainty in 2021? Below are some of the major announcements Google has made and trends that are likely to continue. …

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Key Insights: Email marketing the titanium of martech, global dips can’t curb strategy, and more

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30-second summary: The World Bank predicts that the global economy will see a 5.2% contraction in global GDP in 2020. This could mark the darkest recession since post-WW II. While CFOs face the reality of revenue drops by 25%, they’re in no mood to focus on their cornflakes In fact, PCW’s CFO pulse survey shows that 50% of CFOs plan to accelerate automation and new ways of working Our Pulse Survey finds that 44% of marketing leaders are maintaining their marketing budgets 42% of marketing leaders are increasing spend on marketing technology Email marketing remains the classic favorite for brands to drive customer engagement, tap into their customers’ minds, and influence customer experience through their inboxes Special focus on industry wise share of email marketing campaigns, region-wise email marketing stats, and the most read email content types The best performing email message was… can you guess it? CFOs’ take on …

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Spending on clothes plummets 50%. Here’s what it means for fashion’s future

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COVID-19 has kick-started a major transformation in the fashion industry. This week, the Census Bureau released consumer spending data for the month of March. Anyone could have guessed that lockdown orders around the country would lead to a drop in retail sales, but the extent of the decline was staggering. Sales plummeted by 8.7%, the largest-ever decrease on record, nearly triple the previous worst month on record in 2008. And clothing and accessory brands took the biggest hit, dropping by an astronomical 50.5%. Read Full Story

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Brands aren’t using the full slate of available first-party data

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30-second summary: Invoca surveyed 500 B2C marketers within a range of industries, each of whom oversee a budget of over $1 million, to gain insight into how they view first-party data and what they’re using to access and collect data. 90% of respondents are confident or very confident with purchase history data followed by 86% with company website data. Phone call data was lowest on the list of data sources that inspire confidence. Websites were the number one source of data that marketers used to inform digital marketing strategy, followed by mobile apps and purchase history. Just 26% of respondents listed phone call data as a source that informed their digital marketing strategy. Most marketers don’t have a clear vision of how to leverage data across channels. Respondents who use call tracking were more likely than those who didn’t to invest in both online and offline conversations. 92% of respondents …

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What Are AdChoices and How Do They Affect Your PPC?

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Data is a godsend for marketers, helping us serve our audience with better, more relevant ads. However, regardless of what we might think, consumers aren’t always fans of data-targeted advertising. According to the Pew Research Center , four in five Americans say the benefits they see from data collection are outweighed by the potential risks, while the same proportion admits they’re concerned about how brands are using their data. Far from being excited about the prospect of seeing ads tailored to their preferences, they feel resigned to having little to no control over how their personal information is used. Theoretically, this is where AdChoices comes in. We’ll cover what AdChoices is all about, discuss its relevance to marketers and consumers, and review the initiative’s benefits and potential drawbacks. What is AdChoices? AdChoices is nothing new. It’s been around since late 2010, and its roots go back even further. To properly …

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