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Edition #407
Would you purposely slow down your customer experience? This weeks note on going 0 to 60 in 4.3 seconds, creator-led marketing and what skill is most in demand.
I’m planning a holiday with family, and I do not mind, getting a good rental car. I love driving but live in the city with no car :(. So I’m perusing the options and find the Cupra Formentor, what a name! Formentor. It sounds formidable. And even better it goes 0-60 in 4.3 seconds. Who needs that speed! Let alone on a rental. It turns out Cupra is a performance offshoot of a Spanish car brand – Seat.
There is a bit of a cliche around startups, that speed solves problems. By doing something fast, you remove time for other hick ups to occur. Signing up a user, do it fast. Working on a deal, as fast as possible. Giving a web experience to users and serving them ads, again, as fast as possible. And why am I talking about this? I feel like it’s getting overlooked a bit.
Every day, customers are won and lost in seconds. And yet, how many companies are stopping to go – hey why did we lose them, what can we do about it? As compared to the bucket of, oh just get more clicks.
A challenge of course, is that a lot of data isn’t built for the sub scale, to be able to tell that difference. For a client, we were once comparing some data, and found a dramatic difference in the average attention on a page, it turns out, one system only measured once a user went past 15 seconds. This dramatically over reported, as it ignored all the customers already lost! But we want their business you say!
There’s that classic Amazon study that every 100ms of delay, cost them 1% in revenue. Which is the way to look at it, by having something slow, what is that costing us. To arrive at this they took their existing experience and slowed it in 100ms increments to see the impact.
What would happen if you took your website, and made it slower? You know it wouldn’t perform as well. So why not push, and make it faster. Or even find ways to reduce customer sign ups, or ability to convert. It’s one of those, brain worms, I know slow is bad, so can we make it faster or more seamless.
Maybe rather than looking further afield for new opportunities, looking closer to home, a lot closer is appropriate!
And I have a little RFP for readers, I’d be keen to do a project comparing AI content vs human content, diving into the success and engagement of either or. Here’s a tweet, in case you know anyone.
Notable stories this week
- Managing content supply is one of marketing’s biggest challenges.
- Netflix to enter live-streamed sports with celebrity golf event.
- How Ziff Davis and Black Enterprise bring in revenue with Commerce Content.
- How MrBeast became the Willy Wonka of YouTube.
- Why creator-led content marketing is the future of search.
- Turpentine Media launches and Penske Media launching women’s health brand.
- Starting July 1st, Sharethrough will automatically remove any Made For Advertising inventory by default from its PMPs.
- More ads coming to streaming companies.
- Media’s less glamorous future.
- Twitch competitors seize opportunities amid branded content fallout.
- Yahoo lets advertisers buy based on attention with Adelaide tie up.
- Thousands of Reddit communities go dark in protest of API changes. And why their recent blackout could be a real problem for advertisers.
- It’s not a good sign when people who don’t pay for news have so little to choose from.
Deals/M&A
- Ad tech firm Madhive raises $300m from Goldman Sachs.
- The MorningBrew of Canada, The Peak, is acquired for $5m.
- ConvertKit has acquired Sparkloop.
Campaign of the week
- Where can we safely and permanently store carbon dioxide? From Chevrons content studio.
View all 2023 best campaigns.
Smartest commentary
- [On MrBeast] “Donaldson is explicit that profit is not the goal; expansion is. The effect is a kind of unstoppable flywheel of charity, spectacle and growth — a combination lottery, raffle, game show and telethon, administered by the Willy Wonka of Greenville, N.C.“ –Max Read, NYTimes
Datapoints of note
- LinkedIn’s latest B2B Marketing Benchmark Report, CMOs (n=376) say #martech and data mastery is 2nd most valuable skill for their role today.
- The top 25 advertising companies globally earned more than 75% of all global ad revenue last year, up from less than half (49.4% in 2017.
That’s it for this week.
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