Today in Digital Marketing - Save Now, Pay Later: The GoFundMe of Retail Shopping
Episode Date: January 21, 2022The big tech platforms have spoken out about the anti-targeting legislation being considered in the U.S. and they are not happy about it. Also: Buy Now Pay Later hits some stumbling blocks... Is Save ...Now Pay Later the next big thing? New Experiments for Google Ads. New free courses for LinkedIn marketing. How are your brand's plans for Galentine's Day coming along?Go Premium! No ads, more stories, and extended deep-dive weekend episodes — https://todayindigital.com/premiumADVERTISING as low as $20: https://todayindigital.com/ads JOIN OUR SLACK! https://todayindigital.com/slackFOLLOW US: https://todayindigital.com/socialmedia (TikTok, Twitter, Facebook, Reddit, Discord, and more) ENJOYING THE SHOW?- Please tweet about us! https://b.link/pod-tweet- Rate and review us: https://todayindigital.com/rateus- Leave a voicemail: https://b.link/pod-voicemail FOLLOW TOD:- TikTok: https://b.link/pod-tiktok- Twitter: https://b.link/pod-twitter- LinkedIn: https://b.link/pod-linkedin Today in Digital Marketing is hosted by Tod Maffin (https://b.link/pod-todsite) and produced by engageQ digital (https://b.link/pod-engageq). Subscribe at https://TodayInDigital.com or wherever you get your podcasts. (Theme music by Mark Blevis. All other music licensed by Source Audio.)Does your brand need a podcast? Let us help: https://engageQ.com/podcastsOur Sponsors:* Check out Kinsta: https://kinsta.comPrivacy & Opt-Out: https://redcircle.com/privacy
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Do you have business insurance?
If not, how would you pay to recover from a cyber attack,
fire damage, theft, or a lawsuit?
No business or profession is risk-free.
Without insurance, your assets are at risk
from major financial losses, data breaches,
and natural disasters.
Get customized coverage today,
starting at $19 per month at zensurance.com.
Be protected, be Zen.
Today, the big tech platforms have spoken out at zensurance.com. Be protected. Be Zen. thing? New experiments for Google Ads? New free courses for LinkedIn marketing? How are your brand's plans for Galentine's Day coming along? And on the premium podcast with more stories,
no ads and expert deep dive episodes, tap the link in the notes for info. The forecast is in,
ad spending will be up. And that's bad news for all of our budgets. It's Thursday, January 20th,
2022. Happy birthday, January 20th, 2022.
Happy birthday, Queen Matilda of Belgium.
I'm Todd Maffin from EngageQ Digital,
and here's what you missed today in Digital Marketing, episode 544.
Here's an update on yesterday's story
about the American legislation being considered
to ban a whole bunch of targeting in digital ad campaigns.
In case you missed the show yesterday,
a proposed bill would prohibit advertisers
from using user data or demographic points as targeting options and would be a
complete game changer for all digital marketers if passed. Google has responded to the proposed
bill in a blog post called The Harmful Consequences of Congress's Anti-Tech Bills.
The company says the legislation would undermine the technological leadership of
the U.S., degrade security and privacy, and completely break features that help small
businesses and consumers. The tech giant warned that the proposed legislation would lead to
lower quality search results. For instance, it would be prevented from highlighting business
information when users search for local businesses, showing directions from Google Maps and search results,
integrating its products like Gmail, Calendar, and Docs,
or answering urgent questions.
For example, if you were to look up stroke symptoms,
search may not be able to provide you with immediate and clear information
and will instead direct you to a mix of low-quality results, unquote.
The latter there seems like a mix of low-quality results, unquote.
The latter there seems like a bit of a reach, but clearly Google and the others are in a bit of a panic over the whole thing.
This past holiday season, the fintech darling of the e-commerce world seemed to be the BNPL
services, buy now, pay later.
But now that the bills are starting to roll out,
things are looking a little shaky. More than a third of American shoppers who use BNPL services
have missed a payment deadline. A new study found that 57% of those consumers reported overspending
on purchases, sometimes in multiple accounts, on the promise of delayed payments, and 36%
have missed or made a late payment at least once.
BNPL companies often advertise themselves as risk-free alternatives to high-interest
credit cards, but research indicates the prospect of delaying payments for free can lead consumers
to accumulate debt.
41% of respondents report having multiple BNPL accounts
open simultaneously.
69% of those who report overspending
used multiple accounts.
And since most buy-now-pay-later companies
don't perform credit checks,
they are more likely to attract consumers
with lower credit scores.
In fact, 45% sought out the payment method because of
poor credit history and sometimes ineligibility for traditional credit cards. That said,
service usage unlikely to drop in 2022 despite some consumers seeming overwhelmed. 62% of
respondents expect their usage to increase this year.
The analysis surveyed 1,500 consumers and was done by the insurance firm Breeze.
While Buy Now, Pay Later is putting some consumers into debt,
another service provider is trying to help them save.
And if your business is looking to expand payment options for consumers,
here's a cool idea.
An online SaveNow buy later startup called Accrue Savings
has just raised $25 million in a funding round led by Tiber Global Management.
With the company's payment tool,
consumers can save money toward a purchase from various retailers
and earn rewards along the way.
Here's how it works.
If a shopper wants to save up for, say, a new mattress,
they can set up a payment schedule through an accrued savings account,
which is linked to their bank account.
As the consumer makes payments,
they are able to solicit contributions from friends and family to complete their goal.
And the company also contributes to the purchase when they reach certain milestones.
Once the shopper reaches their savings goal, the funds are loaded onto a virtual debit card that will be used for that particular purchase.
Consumers don't have to pay fees.
A crew makes money through card interchange fees, typically 1% or 1.5%, and the performance fees that merchants pay.
The company currently has 15 retailers and plans to grow
as businesses seek to offer a variety of payment options.
Do you have business insurance? If not, how would you pay to recover from a cyber attack,
fire damage, theft, or a lawsuit? No business or profession is risk-free. Without insurance,
your assets are at risk from
major financial losses, data breaches, and natural disasters. Get customized coverage today starting
at $19 per month at zensurance.com. Be protected. Be Zen. Google Ads is rolling out an updated
experiments page that will make it easier for advertisers to test campaigns. Advertisers will
no longer have
to create a separate campaign draft, and changes made to the original campaign will be automatically
synced to the experiment. Here's a look at what you can expect. First, you can more easily create
and manage experiments. You'll select a campaign, create a custom experiment for it now in one step.
You can specify how long you'd like it to run, how much of your original campaign's traffic and budget you'd like to use.
Performance can be monitored in the new experiments page while it runs.
With a single click, you can apply those changes to your original campaign.
LinkedIn is adding three new courses for marketers as part of its on-demand learning center.
Here's a look at the new courses.
First, Building an Organic Presence with LinkedIn Pages. Here's a look at the new courses. First,
building an organic presence with LinkedIn pages. This is a basic course, about 20 minutes to complete. You'll learn how to create and maintain an active LinkedIn page, which you can use to
develop your brand's voice. Second, a course called building a full funnel content marketing strategy.
They put this at intermediate level, takes about a half an hour or so. The goal of this course will
be to teach you how to achieve a balance between organic and paid content to guide your audience through the customer journey.
Another basic course, a shorter one, 10 minutes long, called Creative Design for LinkedIn, will show you how to design visually compelling content that engages LinkedIn users.
Those courses are, of course, free because, you know, they're promoting LinkedIn.
You can access them through your LinkedIn account.
By the way, LinkedIn Learning is the catalog formerly known as lynda.com. LinkedIn acquired them some years back. Most people don't know this, but you can get
access to the entire catalog for free through most public libraries. Just get a library card number,
log into your local library's website, look for their digital library section, and see if lynda.com is
there. If it is, your library system has already paid for your membership.
So how's your planning coming along for the next big promotional season,
Galentine's Day? Yes, Galentine's. If you're not familiar with the day, Galentine's Day happens on February 13th,
the day before Valentine's Day, and celebrates female friendship, originating from an episode
of Parks and Recreation. Last year, Good Housekeeping reported that searches for
Galentine's Day increased 400% since 2015, while searches for Valentine's Day have actually decreased by 55%.
How are brands jumping on the Galentine's Day bandwagon?
Well, girls weekend getaway packages, greeting cards and merch, giveaways, social media posts.
Laugh if you want, but Seinfeld's fictional end-of-year holiday called Festivus
actually gained traction in the real world,
and some people celebrate it instead of Christmas.
Well, thank you for the concerned messages and DMs and so on.
I'm feeling a lot better.
Boy, after I recorded the show yesterday, I just crashed.
I went to bed and fell asleep.
The only sort of lingering thing after my booster shot
is my arm is still really sore.
It hurts so bad, like much, much more than the other ones.
And it's still hurting two days later.
Oh, well.
Jamie H., Dave B., Jocelyn R.,
those three people are the latest to upgrade
their listening experience by signing up
for the premium podcast feed.
You get weekend bonus episodes with experts in the marketing space. Plus, that podcast feed has no ads. Thank you. tap the link in the episode notes. And by the way, change the website today. So todayindigital.com
new theme looks prettier, I think looks a little bit more modern. Check it out. Let me know if you
like it. Or as they famously said on the show fame some years ago, if you like it, tell me.
If you don't, lie. Talk to you tomorrow. What's so hard? Why complicate?
All you want is yours to take
I've given all I am
To you every day
Can you believe this is all I have?