BFCM Recap: Costs & Revenues Up, Steady Growth

Nevin takes Mike through what he's seeing in the Finch client data and the eCommerce market overall coming out of the Cyber12 period. How should we adjust, if at all, based on the new normal? According to the podcast transcript, brands that focused on building brand awareness through DSP (Demand-Side Platform) as a channel saw the best results during Black Friday. These brands were able to use detailed third-party data audiences and invest in brand awareness leading up to Black Friday and Cyber Week. The transcript mentions that as the market shrinks and people become more conservative with their spending, they tend to shop with big brands that have established relationships and high brand awareness. Brands that invested in detailed audience targeting and leveraged third-party data to build hyper-targeted awareness campaigns were able to flourish during this time. Additionally, the transcript highlights that DSP provides more tools to build brand awareness, and it has never been easier to start building brand awareness through DSP. The cost per conversion for clients using DSP was down by an average of 48%, indicating the effectiveness of this channel for building brand awareness. However, the value for conversion did drop by 13%, possibly due to more aggressive discounting by brands. Overall, the transcript suggests that investing in brand awareness through DSP can significantly impact revenue numbers during the Black Friday period. According to the podcast episode, as the market shrinks and wallets become tighter, people tend to become more conservative with their spending. This means that they are less likely to take risks and are more inclined to shop with established brands that they have a trusted relationship with. The episode mentions that brands with strong brand awareness and recognition, such as Apple and Nike, are the ones that people are more likely to shop with during times of economic uncertainty. These brands have already established a reputation and trust with consumers, making them a safer choice when people are being more cautious with their spending. The episode also highlights the importance of investing in brand awareness and detailed audience targeting ahead of time, particularly leading up to big sale events like Black Friday. By building a strong brand presence and targeting specific audiences, brands can increase their chances of success during times when consumers are more selective with their purchases. Additionally, the episode mentions that DSP (Demand-Side Platform) is a valuable channel for building brand awareness, as it offers tools and capabilities to reach and engage with audiences effectively. According to the episode, using a DSP (Demand-Side Platform) can be an effective tool for building brand awareness. It is mentioned that the cost per conversion was down by an average of 48% for clients using DSP. This indicates that using a DSP can lead to more cost-effective advertising campaigns, potentially reaching a larger audience and increasing brand awareness. Additionally, the episode mentions that brands were discounting more aggressively, which could have contributed to the decrease in cost per conversion. Overall, the episode suggests that using a DSP can provide more tools and opportunities for brands to build brand awareness.