New LinkedIn study examines state of gender and racial equity in marketing jobs
This week in social media news, LinkedIn posts new research on gender diversity and racial diversity in marketing jobs, new Facebook report highlights the three key changes driving the evolution customer experience, Google will not complete phase-out of third-party cookie support 2023, Twitter is launching a new 15-second viewing auction model for premium videos and more.
LinkedIn shares new research on gender and racial diversity in marketing jobs
From the latest LinkedIn post research, which combines data from its platform with research from ANA, McKinsey et al., 60 percent of marketing positions are held by women in North America. The bad news: Racial diversity among these roles is lagging behind, with just 13% of all marketing managers having racially diverse backgrounds.
Why is this important: As the number of female CMOs increased from 2019 to 2020, from 47% to 52%, the percentage of racially diverse CMOs declined, reports LinkedIn. Black women, according to research, are severely under-represented in leadership roles. Out of 100 men who reach a leadership position, 58 black women advance, compared to 80 white women and 72 women in total.
The details: LinkedIn research shows that compared to other industries in the United States, women are well represented in marketing in almost every industry, with real estate, wellness and fitness being the strongest; the representation of women in manufacturing and entertainment marketing roles is the lowest.
A majority of women are also represented at leadership levels in marketing, with 53 percent in a managerial role or above, 59 percent in a managerial role and 63 percent as individual contributors.
Although 52% of marketing directors are women, only 13% of all marketing directors are of mixed racial background, according to ANA’s annual diversity report. Worse, while 13.4% of Americans identify as black or African American, a study by Coqual found that only 3.2% of managerial positions in large American companies are held by blacks.
LinkedIn also found that the three fastest growing job titles for women in marketing are director of growth, account strategist, and creative strategist.
Despite these encouraging statistics, women are 18% less likely than men to apply for a marketing job after viewing it.
New Facebook Report Highlights Changes Driving Evolving Customer Experience
Facebook posted a new report which highlights the three key changes that are driving the evolution of the customer experience. With input from industry experts, the report examines the roles that mobile and social commerce, personalization and privacy, and creators play in the post-COVID landscape.
Why is this important: Globally, 81% of consumers say they have changed their shopping habits since the start of the pandemic, and 92% say they will continue this new behavior for the long term. Companies are innovating faster than ever to keep up with these changes.
The details: The rise of e-commerce during the pandemic has given consumers a new sense of ownership in their interactions with brands. To create their optimal experience, consumers take advantage of mobile shopping and messaging services, Facebook notes.
Sixty-six percent of online shoppers globally say their mobile device is quickly becoming their most important shopping tool, and 62 percent of social media users say they would like to connect with a customer service representative through a messaging application.
The takeaway for brands is to create humanized digital shopping experiences, whether through conversational commerce or discovery.
Then Facebook found that people wanted personalization and privacy to go hand in hand. Some 69% of online shoppers globally feel more personally connected to brands that deliver personalized content or offers. Likewise, 60% are interested in using a personalized shopping tab to discover personalized content, reports Facebook.
To give consumers the best of both worlds, Facebook suggests brands use privacy technology and contextual advertising. Additionally, marketers should streamline legal jargon or communication policies regarding their data privacy practices into content that is easy to digest for consumers.
Finally, Facebook is seeing a new kind of designer culture emerge where consumers connect more closely with their favorite influencers as consumers expect more interactive shopping experiences. Fifty-one percent of consumers surveyed say they have ideas about what products to buy from celebrities and designers, and 45% say they want to buy products promoted by creators directly on social media.
For brands, this means showing diverse designer personalities with consumers looking for better representation.
Twitter launches new auction unit in 15 seconds
Because advertisers only have seconds to make a positive and impactful first impression, Twitter has launched A 15-second view bidding block powered by its new prediction model that prioritizes long, engaged views of your content.
Why is this important: Twitter says it has spent the last few months working on a new prediction model that enables this new buying model, with early testing showing that it generates Twitter’s highest video completion rates to date.
The 15-second view auction, which was tested with advertisers such as Bud Light and Virgin Media, resulted in an 89% higher average completion rate, at a 25% lower cost per view completed.
The details: Twitter says its new prediction model optimizes video ad serving to active targeted users who are most likely to spend more time with your video content, based on their preferences and behavioral trends on Twitter. Twitter then broadcasts your video to those users and bills the CPM (cost per 1,000 impressions).
This new 15-second bid unit comes with new reporting stats in Twitter’s Ad Manager, including cost per 15-second video view and 15-second video view rates.
The new 15-second view bid block, available to all advertisers worldwide, will be the new default bid block for all campaigns under Video views.
Facebook launches new advertising option “Optimize text per person”
According to Social media today, Facebook has added a new ad option called “Optimize Text Per Person” which, if enabled, automatically switches text between an ad’s title and main text to optimize performance.
Why is this important: While Facebook doesn’t specify how it will determine which text each user is most likely to respond to, the new advertising option will ensure that your ads are optimized without the need to update the title text, description or main text.
The details: According to a screenshot tweeted by Leon Grigg, which first spotted the new announcement option, the toggle displays the following message:
“Where it is likely to improve performance, allow text to switch between fields, such as showing your title as the main text.”
According to Social media today, “Optimize text by person” is not yet available to all users, but Facebook seems to have extended it this week.
Google postpones the phase-out of third-party cookies to 2023
Google has ad that Chrome rejects the gradual deletion of third-party cookies and the launch of its Privacy sandbox initiative– which aims to create web technologies that allow brands to target consumers while protecting their privacy online – until 2023.
Why is this important: At the start of last year, Google first announced that it would phase out third-party cookies. Google also aimed to launch its Privacy Sandbox initiative by early 2022. Now it says it needs to “move forward at a responsible pace” to “avoid jeopardizing the business models of many web publishers that support content available for free “.
The delay will give marketers more time to collect first-party data, a necessity to reach consumers looking for personalized digital experiences.
The details: Google’s goal is to hold a public discussion about the technologies and their prototypes in forums like GitHub and W3C groups, and then rigorously test them in Chrome, perhaps through several original trials. Once developed, the technologies will be ready for use on a large scale.
Following this public development process, Google announced its intention to phase out support for third-party cookies in two steps. The first phase will begin at the end of 2022, during which time publishers and advertisers will have time to migrate their services. Google expects this initial phase to last nine months.
Stage 2 will see Chrome phase out third-party cookies over a three-month period until the end of 2023.
Snapchat Expands Music Library With New Agreement With Universal Music Group
The shorthand video app war between Snapchat and TikTok is escalating. Adding fuel to the fire, Snapchat and Universal Music Group have ad a new offering that will add music from UMG artists to Snap’s library. Music will be featured in Sounds, Snap’s music feature, Lenses and more.
Why is this important: Snapchat has seen tremendous success with Sounds, which launched in October. The platform says videos created with music from Sounds on Snap have generated 521 million videos and 31 billion views. At launch, Snapchat’s music library featured tracks from artists Sony and Warner.
However, TikTok was the first to ink a agreement with UMG in February after UMG removed its entire catalog from Triller. The deal, according to a press release, allows TikTok users to embed clips from UMG’s comprehensive music catalog.
The details: In addition to its partnership with UMG, Snap says it improves “Sounds” discovery for users. He recently launched Shortcuts, a feature that suggests relevant camera modes, lenses, and soundtracks based on what’s in your camera’s view.
Additionally, Snap will continue to add playlists to help users quickly find the right song for their video. Playlists will include genres, moods, and moments relevant to the Snap community, as well as trending songs on Snap.