D&I

Promises made, promises…um, we’re getting there

As we and other outlets have covered ad nauseam, a lot of promises were made last summer as brands announced cold-cash pledges to combat the country’s economic and racial inequalities. Consumers remain unimpressed. 

In an effort to hold companies accountable, a volunteer-led effort is asking them to show their work. Started last October, 100kPledge is a platform that’s keeping tabs on promises worth more than $47.9+ billion from 195 pledges. Half come from corporations like Goldman Sachs, Walmart, Johnson & Johnson, and Twitter, while the rest are from white-collar professionals who’ve committed to spending $100,000 over the course of 10 years on Black talent, businesses, or students.

• Last June, Walmart pledged $100 million to create a center for racial equity. In February, the company donated the first $14.3 million. 100kPledge is tracking the retailer until Walmart spends every penny.
• The site also lets people make individual pledges and track their progress. Those who choose to make pledges, which are made public on the site, are asked whether they want to spend their $$ on hiring, investing, or donating.
•  A database of “action resources” on its site includes Black-owned businesses, recruiters, and nonprofits.
• 100kPledge cofounder Vijay Chattha calls it both a “Fitbit for philanthropy” and “democratize[d] social justice.” 

How it works

It’s been roughly a year since companies started coming out with pledges, so Chattha’s team is now reaching out to them to get a status update. He doesn’t yet have a game plan for ones that aren’t making progress on their goals. Might we suggest public shame?

As for professionals, the best way to hit a goal? Chattha suggests hiring. After conversations with minority groups, Chattha said the number one investment a person can make is hiring someone with a diverse background. 

• In practice, that means if you’re a working professional looking to grow your team, you could bring on one employee for $50,000 a year, and bam: You’ve completed the minimum pledge in two years.
• Employers can then brag that they’ve hit their goal. 

What’s next

Chattha shies away from the term “consultant,” but he envisions a world in which 100kPledge is actually helping companies find a way to spend their money, instead of just tracking their promises. 

As for whether these pledges will come to fruition, Chattha is confident: “I'm very optimistic when organizations take the risk to put out a dollar amount and know that it won't get erased off the internet,” he said. “It’s their integrity on the internet...there’s no incentive to lie about it.”—RB

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REPORTS

M Stands for ‘More Ad Spend’

GroupM released its US midyear forecast on Thursday—and 2021’s ad spend really went ahead and said to previous predictions. 

• In March, the media investment company predicted US ad spending would expand by 15% in 2021 compared to 2020 (excluding political ad spending). 
• Now, it's revised that prediction to +22%.
• For context, that’ll make 2021’s total US ad spending nearly 15% higher than in 2019.

???: Basically, GroupM saw impressive Q2 results from the digital ad duopoly (Google + Facebook), and other digital channels like Amazon, Snap, and Pinterest, and realized it didn’t initially anticipate how hot the digital ad market would become this year.

Explain it like I’m five: Brian Wieser, GroupM’s global president of business intelligence, sat down with Marketing Brew to explain the increases further. “The economy is constantly turning over companies. New ones replace old ones,” he said. “The composition of companies that are replacing old ones in this economy is just more heavily skewed toward spending money on advertising than the ones they've replaced.” In other words, companies that have done well financially in recent years are spending more on advertising than brands of yore.

+1: “There's a randomness to it, but there's a business model that works quickly,” Wieser told us.—PB

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STREAMING

Netflix: The Gift Shop

Sure. Why not? If Tiger King swag is already being sold, why shouldn’t Netflix get a cut? 

Yesterday, the streamer opened an e-commerce store creatively dubbed Netflix.shop, giving fans a chance to cop Stranger Things gear from the source.

It won’t just be Netflix-branded boxer shorts (although they’re apparently on the way, according to The New York Times, which broke the story). The platform has partnered with fashion brands like Hypland and Japanese apparel company Beams, as well as the Louvre museum—for Lupin branded throw pillows.

The focus of the online retailer will be on “limited edition” releases, but Netflix has already secured deals with “Walmart, Sephora, Amazon and Target to sell clothes, toys, beauty kits and housewares, among other items, related to its series and films,” according to The New York Times.

It’s not alone: NBC has long sold “World’s Best Boss” mugs, tchotchkes, and graphic T-shirts from a gift store at Rockefeller Center + has an online store as well.

Reminder: Even if it’s the biggest streamer in the world, with more than 200 million subscribers, Netflix isn’t ad-supported. Retail deals will keep the $$ coming.—RB

WHAT ELSE IS BREWING

• Burger King pokes fun at annoying customers in its latest ad.
• Mattel created a Barbie made from recycled plastic that was destined for the ocean.
• TikTok is charging $2+ million for its homepage takeover ad in some instances.
• Grubhub is thanking restaurant workers for everything they do in a campaign.

FRENCH PRESS

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

Google: Need an alternative to Google Ads? Look no further.

Sosh meeds: If you’re a small biz but want to hop on the TikTok marketing bandwagon, you’re not alone—check out this guide to getting started.

Emails: This post breaks down the ideal B2B marketing email into eight simple steps for you to follow.

Big decisions, big value: The Wall Street Journal is the essential resource for the world’s most influential people and businesses. That trust is why WSJ influences more than $1 in every $3 spent in the US on B2B-related purchases. Partner with WSJ, and your company can reach the world’s business decision-makers.*

METRICS & MEDIA

Stat: Since January, Southwest has accounted for 77+% of the airline industry’s TV ad spend—that’s about $7.8 million—for a campaign that ran through May. 

Quote: “And what of creators who want to move away from the ad model? Apple will be there, ready and waiting to take a 30 percent cut of Twitter Super Follows, paid podcasts, and ticketed Facebook events.”—Casey Newton from The Verge on Apple ending the newsletter boom.

Read: This absolutely unhinged article on the top ten worst marketing disasters of all time.

ICYMI

Catch up on a few Marketing Brew stories you might have missed.

• Midol’s latest campaign explores period apologies
• What Apple’s privacy updates mean for marketers
• Thrillist is debuting a LGBTQ+ travel vertical