It’s time for another weekly roundup, and we’ve got a great one for you this week! Our New Biz & Marketing team have found the three biggest news stories for you to sink your teeth into, from brand new concepts that blur digital and reality to new and improved advertising standards. And if that’s not enough, we’ve even gone and researched into one of the nation’s favourite retailers!
1. The Opportunity of the Metaverse for Agencies and Brands
At Passion, we’re constantly learning about new digital opportunities, where potential consumers for our clients are and how they like to be communicated to on different platforms. This leads us nicely into the ‘metaverse’.
The metaverse is the newest concept in the digital world, which explains the increasingly blurred line between digital and physical spaces.
Although mainstream knowledge of, or familiarity with, the metaverse is currently low, we’re expecting an increase in the near future, especially as huge and recognisable companies such as Facebook are rebranding as metaverse businesses. According to the Into The Metaverse survey, 76% of consumers surveyed admitted that their daily lives depend on tech. Meanwhile, 66% of consumers prefer to engage with brands digitally and 85% said a digital presence is essential for brands to enjoy future success. If you’re interested in learning more about the metaverse, and how you can tailor your digital marketing efforts towards this concept, drop our marketing team a call and they’ll be more than happy to help you!
It’s important for brands to devise a digital marketing strategy specifically for the metaverse, in order to establish its boots on the ground early to maximise returns. But the metaverse poses some ethical conundrums – how will the constant connection between the physical and digital worlds impact our mental health? Will the metaverse cause an increase in social echo chambers? And could this increase the real world conflict we’re seeing, like the storming of The Capitol?
As an agency, we hold the responsibility to take all these factors into consideration very seriously, while ensuring our clients can get the most of the metaverse. This means ensuring our teams are constantly learning and developing their skills, attending digital marketing webinars and networking with other professionals in order to stay ahead of the game.
2. Primark’s Move to Digital
Primark has famously never made its products available to buy online, leaving fans of the budget clothing retailer annoyed for years. But the news that it’s finally adding a digital platform to their retail empire is sure to delight. The reason behind the decision, according to Primark, is to produce more personalised content, which means targeting consumers online as part of a sophisticated digital marketing strategy.
Primark will be creating a digital platform in the form of a consumer-facing website, with predicted sales reaching £3.4 billion in its second financial year. Considering the retailer had no way of selling to consumers during the national lockdowns, it’s impressive that it’s managed to bounce back so dramatically.
And we’re sure that this news will be music to the ears of those who would rather avoid the infamous chaos that comes with weekend shopping…
In terms of actual fashion news, Primark has noted that loungewear continues to be a strong seller, which could be thanks to cautious buyers who would rather stay indoors so soon after the pandemic. However, if the recent New York Fashion Week is anything to go by, we can expect to see a return of the party dress, so watch this (retail) space!
What’s most interesting to us, however, is how a brand that’s typically rooted in physical stores is finally addressing the need and benefits of digital channels. We’ll definitely be keeping a close eye on performance and results with the big launch of Primark online.
3. New Advertising Standards to Safeguard Children from Alcohol Ads
In a ‘world first’, 13 major advertising agencies have collaborated with global drinks brands in order to create and abide by new advertising standards laid out to stop children and minors from seeing alcoholic advertising. The voluntary standards, courtesy of the International Alliance for Responsible Drinking (IARD), have been signed by a range of agencies, including those in advertising, public relations and influencer marketing.
As an agency with clients in the alcohol industry, we take great strides to ensure that our ads will only be served to relevant target audiences. Influencer agencies will only be using influencers aged 25 years and over, and who mainly appeal to an adult follower base, rather than influencers with younger fans.
All agencies have a responsibility to ensure that client campaigns are ethical and our values at Passion mean that we only work with brands who are happy to abide by these standards. We’re ecstatic to see large, global agencies leading the way when it comes to considering these ethics alongside the work they do and it’s just a matter of time before this trickles down to the rest of the industry.
Between researching and creating campaigns for our clients (and having a laugh in the office) we love spending our downtime discovering new concepts that can benefit our clients. If you’re interested in learning more about the wonderful world of marketing, give us a call and we’ll be glad to talk!