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Why are brands investing in media?
March 09, 2023

Marketing Brew

Bolt

Happy Thursday. We hope everyone had a good International Women’s Day yesterday and that you’re almost done digging your way out of emails from brands encouraging you to support the ladies in your life (by purchasing a new pair of jeans).

In today’s edition:

—Katie Hicks

TRENDS

Puff pieces?

a gif of Miranda Priestly from The Devil Wears Prada saying The Devil Wears Prada/20th Century Fox Home Entertainment via Giphy

Journalism and advertising can often seem like oil and vinegar—but that isn’t necessarily stopping them from trying to make a dressing.

Shareen Pathak, who co-founded and covers brand publishing for the outlet Toolkits, told us it’s become popular for companies to invest in publications that are “on the face of it, editorially independent” over the past three to four years.

Recently, financial service company Robinhood announced it was starting Sherwood Media to house and build on its flagship newsletter, Snacks, which it acquired in 2019—making it one of the latest in a line of companies investing in media ventures.

But brand publishing isn’t always successful: MEL Magazine, originally started by Dollar Shave Club, is no more, and Netflix’s publication Tudum, while still around, went through a significant round of layoffs last year. And as several news publications go through layoffs, why are companies turning to publishing?

First and foremost, Pathak said, brand publishing is often about PR. “When you market a publication that’s editorially independent, it’s not product shilling,” she told us. “It’s going to draw attention.”

In the case of Netflix’s Tudum, the publication can—and often does—publish exclusive content from stars and directors that then gets picked up by other publications, Pathak noted.

Some companies have opted to acquire publications instead of building them from scratch.

  • Take JPMorgan Chase, which purchased restaurant guide site The Infatuation in fall 2021. According to Chris Stang, CEO and co-founder of The Infatuation, there hasn’t been a push to “influence or change or adjust content or anything like that” since the acquisition, though subtle branding, like the Chase Sapphire logo, can now be found on the site.
  • “We’ve never felt like it’s detrimental to us or to Chase to make sure the consumer knows that these companies are connected, and ultimately, that they’re connected for your benefit,” Stang said, adding that the integration made sense, noting the “strong connection between restaurants, dining, and financial institutions.”

Keep reading here.—KH

        

TOGETHER WITH BOLT

A li’l loyalty lasts a lifetime

Bolt

Lifetime customers are priceless. Every biz dreams their “front door” will become a revolving one for hoards of happy shoppers.

Bolt knows how valuable e-commerce loyalty can be. That’s why they teamed up with YouGov to produce a shiny new report on landing loyal shoppers of your own. How to Create Lifetime Customers guides merchants with key data and insights to effectively reel in 4ever customers—hook, line, and sinker.

Here’s a sneak peek: 62% of surveyed customers prefer signing up for one account and being able to shop with it everywhere, rather than tracking an endless series of passwords and usernames (and Bolt can help with that, too).

Want more deets? Grab the report.

LEADERSHIP

Swipe of your life

imagery from Tinder and OkCupid campaigns alongside headshot of Melissa Hobley Illustration: Francis Scialabba, Photos: OkCupid, Tinder, Melissa Hobley

Melissa Hobley isn’t afraid to take a stance. As CMO of OkCupid, she oversaw some of the company’s most memorable campaigns (remember “DTF”?) as well as efforts to champion LGBTQ+ inclusivity and abortion rights.

Last August, Hobley switched gears within Match Group, which owns over 45 different online dating brands, and left her post of more than five years to become CMO of Tinder.

Now, she’s overseeing the dating app’s first global brand campaign—one that, similar to her work at OkCupid, aims to reposition Tinder in a bold and inclusive manner.

  • Since taking over Tinder’s marketing, Hobley has traveled to more than 12 countries across the globe, meeting team members and laying the groundwork for “It Starts With a Swipe.” The campaign, which went live last week, aims to redefine the app as more than a meeting place for hookups.
  • Within two weeks of starting her new role, Hobley said she “had to totally shed [her] last experience.” But some ideas weren’t worth shedding altogether. The creative for the “Swipe” campaign, full of colorful images and dreamlike photography, is in some ways reminiscent of campaigns Hobley oversaw at OkCupid.

When asked if she considers bright, vivid campaigns to be part of her own personal brand, Hobley acknowledged her love of color, but said she’s mostly driven by the stories behind the ads and making people feel good.

“You have to put that work in to give me something beautiful I want to look at,” Hobley said. “That’s the cool and fun challenge here, adding to how people think of Tinder today.”

Continue reading here.—KH

        

FROM YOU

Join us at the end of every workday for a rundown of the day’s top stories, personnel changes, agency wins, and more with Double Shot, our latest newsletter. Learn more and sign up here.

TOGETHER WITH WISTIA

Wistia

The reel deal. Video marketing continues to deliver powerful results for brands, so we teamed up with Wistia to highlight the latest actionable stats from their State of Video Report. Learn what’s working, what’s expanding, and where viewers are the most engaged from the video marketing aficionados themselves.

FRENCH PRESS

French press

There are a lot of bad marketing tips out there. These aren’t those.

Disclose: Brush up on your knowledge of the FTC and its rules for disclosing paid partnerships on Instagram (and podcasts).

Great expectations: Here are seven ways designers can set “clear expectations” with clients before starting a project.

Update: Google’s Local Services Ads feature is now available for 70+ types of businesses.

Brace for impact: Undertone’s high-impact advertising solutions are built to drive full-funnel results. From display and CTV to awareness and performance, see how Undertone’s cross-channel solutions can deliver for your brand.*

*This is sponsored advertising content.

WHAT ELSE IS BREWING

  • Walmart CFO John David Rainey said services like retail media and merchant fees will drive more of its overall business “if you fast-forward five years.”
  • Spotify rolled out a new version of its homepage—a vertical feed that includes music, podcasts, videos, and audiobooks—as part of what CEO Daniel Ek called “the biggest change Spotify has undergone since we introduced mobile 10 years ago.”
  • The FTC acknowledged a “wide-ranging investigation” into Twitter’s privacy practices.
  • Elon Musk tweeted an apology after “publicly ridiculing a Twitter employee…and speaking dismissively about the worker’s disability.”

MARKET RESEARCH

Social media analytics company Rival IQ published the 2023 edition of its Social Media Industry Benchmark Report. It’s over 100 pages long and covers 14 industries, but here are a couple tidbits you might find interesting.

Under the influence: Rival IQ broke influencers out as an industry in and of itself in the report. One takeaway from that section is the finding that while influencers tended to post more on Instagram and Facebook, their engagement rates were highest on TikTok. Engagement rates were calculated via “measurable interactions”—likes, comments, retweets, etc.—divided by total follower count.

  • Influencers made about four posts a week on Instagram and Facebook, respectively.
  • Their average engagement rate per post on Instagram was about 0.8%.
  • On Facebook, it was about 0.2%.
  • Influencers posted about two videos per week on TikTok, with an engagement rate of about 3% per video.

#Sports: In the sports teams section of the report, Rival IQ pointed out that “event-based hashtags like #FIFAWorldCup and #SuperBowl energized fans.”

  • Posts on Instagram with the hashtag #FIFAWorldCup saw an engagement rate of 2.86%.
  • Posts tagged with #WorldCup on Instagram saw about the same, at 2.7%.
  • While #FIFA23 posts had 2.09% engagement on Instagram.
  • For comparison, #TBT posts from the category had an engagement rate of 2.03%.

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Written by Katie Hicks and Alyssa Meyers

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