Thirsty for knowledge? Get a taste of the juiciest marketing news with The Squeeze! We deliver industry highlights straight to your inbox to get your creative juices flowing. From the trillion-dollar tech giant showdown to best practices for cross-generational video marketing, here is what's happening for July!
Trillion Dollar Baby
The fight is on among contenders Apple, Amazon and Google to become the first trillion-dollar company. Apple is the frontrunner with a value landing just under $940 billion. Amazon trails behind with a $902 billion valuation.
Underdog Google just earned its place in the ring after an astounding quarter, with the company’s ad business growing 24% and parent company Alphabet earning $32.66 billion—that is, before taking a hit from the record-breaking $5 billion fine imposed by European regulators.
Apple may be the fan favorite, but with Amazon and Google making big money moves, it very well could be anyone’s fight.
China Friends, Unfriends and (Once Again) Blocks Facebook
After a decade of courting China, Facebook seemed to have made headway after receiving governmental approval on a subsidiary in the city of Hangzhou.
The social media giant barely had time to relish in its victory before the Chinese government removed the corporate registration from its website and censored references to the new subsidiary.
China is notoriously difficult to navigate, especially for outside social media companies that pose a threat to the stability of the Communist Party. That’s not to say, however, that doing business with the country is impossible. After all, LinkedIn managed to make it work by voluntarily censoring its services.
Facebook has bigger hurdles to overcome though, especially in the aftermath of its user data abuse scandal. Mark Zuckerberg even claimed that his company has a long way to go before they can do business with China:
We need to figure out a solution that is in line with our principles and what we want to do, and in line with the laws there, or else it’s not going to happen. Right now, there isn’t an intersection.
Cross-Generational Marketing: Why Video Still Reigns Supreme
As video production specialists, we love talking about video marketing and how it affects consumer behavior. Marketers are increasingly wielding the power of dynamic content to engage Millennial and Gen Z audiences.
Many of them have seen success, growing their revenues 49% faster than those don’t use video. Limiting this form of marketing to only the younger generations, however, is a huge missed opportunity.
Turns out, Baby Boomers are actually more avid consumers of video than their younger counterparts. They even have a 10% higher view rate on YouTube than Millennials.
One organization that effectively put these insights to action was the AARP. The organization wanted to find more creative ways to engage its aging audiences by incorporating video into its marketing strategy. After just one video series, the AARP received over five million views on YouTube. Not only that, their video marketing efforts also yielded a 22% increase in ad recall and a 13% increase in brand favorability among its target market of people ages 45 to 64.
One of the pitfalls of trying to appeal to this demographic is assuming that the audience is just like a grandparent. Many of these older viewers prefer content that appeals to younger generations and features people of various ages.
The multigenerational approach is a great strategy for shifting the focus away from age and highlighting the story and relationships between characters in a way that resonates with all viewers.