What do brands need to know before jumping on the NFT trend?
In recent news, The Drum sells an NFT and shares its lessons learnt with the industry, new data reveals the Australian digital advertising market has shrugged off any pandemic woes, and TikTok has hit 3 billion downloads.
The Drum shares lessons learnt from selling an NFT
The topic of NFTs has reached industry hype levels as major brands, such as Coca-Cola, rake in thousands of dollars by selling virtual goods on the blockchain. This week, The Drum decided to experiment in the world of blockchain and NFTs, selling one of its classic magazine covers in an auction. Here’s what they learnt and what they think it means for marketing and retail in the future.
Australian digital advertising reaches new milestone
The Australian market’s penchant for digital advertising continues to grow, reaching $11.4 billion in FY 2021. The IAB Australia Online Advertising Expenditure Report (OAER) prepared by PwC, found that for FY 2021, retail was the top advertising category with 16% of all display advertising. Across other categories, FMCG and technology expenditure increased, while finance share remained flat.
Redheads matchboxes: Taking something disposable and making it collectable
The State Library Victoria recently released a video unveiling its collection of Redheads matchboxes dating back to 1940. While designs and hairstyles evolved over the years, a well-crafted brand managed to stay true. In fact, it can be argued that strong branding cleverly transformed a disposable household item into a highly collectable one, with some boasting collections of more than 1 million items. So what can marketers take from this historical lesson in branding?
Qualtrics and SAP study reveals gap between customer experiences and expectations
Responsiveness, frictionless experiences and transparency around consumer data use are hefty customer experience considerations for Australian consumers. Yet most organisations they’re dealing with aren’t living up to expectations. The new Heart Matters Study conducted by Qualtrics on behalf of SAP Consumer Experience highlights the gap between customer experiences and their ever-higher expectations of organisations they interact with.
TikTok hits 3 billion downloads
Since it became available internationally in August 2018, TikTok has been downloaded 3 billion times and is used by an estimated 1.1 billion people daily in more than 150 countries. Its ever-growing numbers are enough to make the likes of YouTube and Google quake. In the first half of this year, TikTok was the most downloaded and highest-grossing non-game app, beating Snapchat, Facebook and Instagram. How did TikTok take over?