Marketing Midday - January 31, 2023
Welcome to Marketing Midday, an up-to-date report of the latest digital marketing headlines. These are
four top headlines:
1. Google’s monopoly may be forced to a startling halt as the U.S. Department of Justice filed a long-anticipated suit against the tech giant.
2. Last year’s bleak marketing trend predictions for 2023 may not be as grim as first reported.
3. Though ChatGPT is certainly a threat to Google, the bot is not likely to overthrow the tech giant quite yet.
4. In Marketing Spotlight, we explore the latest marketing innovations from Pottery Barn.
1. The U.S. DOJ Filed a Long-Anticipated Suit Against Google
According to Marketing Dive, Google’s monopoly may be forced to a startling halt as the U.S. Department of Justice filed a long-anticipated suit against the tech giant. The DOJ alleged that Google eliminates their competition to foster a monopoly in the ad-tech industry. The suit also claimed that Google keeps a sizable portion of each advertising dollar spent, an amount that would decrease in a competitive market. The Department of Justice is backed by 8 states, including Virginia, California, and Colorado. The goal of the case is to “halt Google’s anticompetitive scheme, unwind Google’s monopolistic grip on marketing, and restore competition to digital advertising.” We will learn more about the implications of the suit as it unfolds in upcoming months.
2. Marketing Dive Questions Last Year’s Bleak Marketing Predictions
The end of 2022 forecasted bleak marketing trends, but a recent report from The Winterberry Group, shared by Marketing Dive, questions last year’s grim predictions. Although digital growth may slow in upcoming months, it should remain strong overall. Certain sectors will even increase. According to the report, advertisers are expected to spend $509 billion in 2023, 6% more than last year. 60% of this will be allocated to digital channels, including CTV. Investments in data segments are also projected to increase 7%, amounting to $34 billion.
3. ChatGPT Won’t Overthrow Google – Yet
Many marketers are being forced to reduce budgets and allocate resources to bottom-of-the-funnel lead generation. However, according to Top Rank Marketing, top-of-funnel efforts also matter for lead generation, especially in times of economic uncertainty.
Only about 5% of your audience is actively seeking a solution and ready to make a purchase. That means 95% is at the top of the funnel. The best marketers strike a balance between top-of-funnel and bottom-of-funnel marketing. The goal should be memorability, so buyers will think of your brand when ready to purchase. Create memorable content by ensuring it has credibility, quality, authenticity, and experience.
4. Marketing Spotlight: Pottery Barn’s New App Will Impress Customers
The four Ps of marketing – product, place, price, and promotion – are often referred to as the marketing mix, and Pottery Barn hits them all. Pottery Barn Kids and Pottery Barn Teens have launched free apps to provide streamlined, convenient experiences to their customers.
According to Pottery Barn president, Jennifer Kellor, “As brands who put digital first, the apps offer a new way to shop, find design inspiration and create and manage a registry on-the-go.” App users can manage registries, shop based on life stages, share favorite items, browse 3-D rooms, and even request a free design consultation for their own space.
Keep Up With the Latest Digital Marketing Headlines
Those are our top 4 stories of the week! Want to see more exciting marketing insights in our midday episodes? Follow us on LinkedIn, YouTube, and Instagram to stay up-to-date with our newest episodes.
Meet the Author
Matt Scroggs
Senior SEO Strategist
Hi, I'm Matt Scroggs, a digital marketing strategist. For two decades I served as the senior digital marketer for several global, iconic brands. Today, I'm the chief marketing officer at RivalMind, an agency 100% dedicated to helping companies thrive by driving transformational growth through innovative digital marketing. I'm also a lifelong Cubs fan, a faithful family man, and a web analytics junkie—relentlessly tracking conversions, loyalty, and advocacy, which are often as elusive as the pennant!
Specialties: Marketing Savant, Idea Guy
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