Chase Bank Is Going To Help Us Measure ROAS

PLUS: Brands forbid agencies from using AI

Author

Digital Chadvertising
April 03, 2024

Drip Sequence💧

In case you missed it:

Last week I sent out a report detailing the comp survey, if you missed the first newsletter the URL for the LookerBI Dashboard can be found right here.

Headline Overviews

  • BREAKING NEWS: Amazon cuts hundreds of jobs in cloud computing unit Amazon's cloud computing division is laying off hundreds of employees in its physical stores technology and sales and marketing units. This restructuring is part of Amazon's effort to streamline operations and refocus on key strategic areas amid a slowdown in sales growth for its AWS unit. Marketers affected by the layoffs will receive support during their transition to new roles within and outside of Amazon.

  • Meta's WhatsApp down for thousands, Downdetector shows Meta's WhatsApp experienced a widespread outage affecting thousands of users on Wednesday, as reported by outage tracking website Downdetector.com. The platform received more than 17,000 incident reports globally, with significant user issues reported in India, the United Kingdom, and Brazil. Meta has not yet responded to requests for comment regarding the outage.

  • Reddit's Jen Wong Has a Plan to Juice Post-IPO Growth Reddit is working to monetize its chat-based content and demonstrate the effectiveness of its ads across the marketing funnel. This effort includes developing performance-driven ad formats like PPC products and post-click actions such as app installs and purchases. They aim to address brand safety concerns and seasonal ad spend perceptions while catching up with competitors like Google and Meta. Additionally, Reddit plans to enhance its ad placements by incorporating more contextual and interest-based signals, including video formats and ads in comment threads and search pages, to tap into the search-driven advertising opportunity.

  • Advertisers sue Meta for allegedly inflating ad viewership in $7 billion lawsuit Advertisers have filed a $7 billion class-action lawsuit against Meta, alleging that the company inflated ad viewership figures by up to 400%. The lawsuit claims that Meta's Potential Reach metric, based on total social media accounts rather than individual users, led to inflated ad costs as it may include bot and fake accounts. Meta denies the allegations and states that ad pricing is based on performance metrics, not Potential Reach. If the case proceeds to trial, affected advertisers could seek compensation for overpayment on FB and IG ads.

  • Chase Bank to Let Advertisers Target Customers Based on Spending Data Chase Bank has launched Chase Media Solutions, allowing us to target customers with personalized deals based on their spending history, aiming to enhance its credit card division's appeal and compete in the advertising landscape. Unlike traditional ad networks, Chase's model charges merchants based on customer purchases using the deals, providing more measurable ROAS.

  • Brands Forbid Advertising Agencies From Using AI Corporate brands are increasingly forbidding advertising agencies from using generative AI in their processes due to concerns about potential creative contamination and the use of intellectual property for AI training. This contrasts with ad agencies' embrace of AI technologies for production tasks, leading to contract clauses prohibiting AI use without prior authorization. The Association of National Advertisers' updated guidance advises businesses to include AI consent clauses in agreements with agencies, reflecting a growing trend in the industry.

  • TikTok, Meta And Snap Topline NewFronts Lineup As Amazon And Peacock Leave The Stage TikTok, Meta Platforms, and Snap are the main attractions at this year's NewFronts, presenting their advertising opportunities to ad buyers. The event, running from April 29 to May 2, showcases the increasing importance of streaming platforms in the advertising industry. With major players like Disney+ and YouTube also participating, ad buyers can gain insights into the evolving strategies and opportunities for reaching their target audiences.

Reported Layoffs

  • Weber Shandwick 3/22/2024

  • MediaHub 3/26/2024

  • Amazon Ads 3/26/2024

March Chadness Update

Last week I kicked off March Chadness and below is the current standings at the time of this newsletter. Voting is held on my Instagram stories and it’s looking like we are down to major holding companies, big tech…and the unemployed.

Voting is held in my story daily, friendly banter between orgs is accepted and highly recommended. Winner will receive the following: Pride, dignity, internet clout, and bragging rights for the organization.

M&A News