Paid Social Industry Updates: November 2022

At the end of every month, our paid social division holds an internal meeting to share relevant updates in the social space. During November, they covered many helpful tips on meeting your customers where their thumbs are stopping during the remaining holiday season. We’re all about knowledge sharing, so without further ado, let’s dive into their updates!

Holiday season shopping habits are changing! According to Adweek, 70% of shoppers have purchased a product in-store after discovering it online, so keep those online discovery ads running! And if you’re not already working with a social media creator, you might want to consider it—30% of holiday shoppers shared they’re more likely to trust a brand partnering with trustworthy creators. While you’re at it, toss some Reels into your creative mix. These days, they make up 20% of time spent on Instagram.

It’s no surprise, but inflation is affecting consumers, too. Compared to last year, 69% of consumers said they plan to spend less on gifts due to inflation. Wondering how? 32% of people shared they’re looking for free online shipping deals, 30% are looking for available promo/coupon codes, 24% are hunting the BOGO deals, and 14% are reaping the rewards of cash-back rebate offers. If you’re wondering which deals to offer your audience, use this as a reference list!

In addition to spending less on gifts, the prioritization of purchases has also shifted. When asked what categories were at the top of their shopping list this year, gifts and presents increased by 31% YoY, clothes by 10% YoY, personal care items by 3% YoY, and accessories by 1% YoY. Conversely, the following categories decreased: smart devices by 4% YoY, personal electronics 14% YoY, and luxury items by 14% YoY.

TikTok—a modern American news source? TikTok has evolved in wild and crazy ways over the past 2 years, from being an app known for dancing to cooking, and now, sharing… news? In 2020, 3% of U.S. adults shared that they regularly received news from TikTok. In 2022, it’s 233% higher at a whopping 10%.

‘Focused View’ on TikTok makes its global debut. Whether user engagement is emotional or tangible, it’s what makes TikTok so powerful. Advertisers can now utilize the upgraded ‘Focused View’ video view objective to target users who are most likely to actively engage with an ad by viewing it for at least 6 seconds or by interacting with the video/ad within the first 6 seconds—whichever comes first. This objective was made globally available Q4 2022. 

Stay relevant post-Cyber 5. After shipping cut-offs, CPMs will inevitably decrease. If you’re wondering how you can support post-holiday consumerism behavior, we have two words: treat yourself. We’ve found success leaning into a ‘new year, new you’ approach as it encourages shoppers to indulge in gifts for themselves. Hone in on opportunities to showcase how your product can help them start 2023 off on the right foot!

Shout out to the Paid Social division for their hard work researching and compiling these industry updates!

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