In the ever-evolving landscape of eCommerce, staying ahead requires constant adaptation and strategic insights. The Fospha State of eCommerce Report for Q1 2024 brings valuable data to the forefront, guiding marketers, advertisers, business owners, and agencies in the eCommerce industry on where to channel their efforts for maximum return.

The report reveals a significant underinvestment in paid social channels, with advertisers reaching only 59% of their potential, suggesting an opportunity to nearly double spend for profitable returns.

Here are some key takeaways from the report:

• Meta and TikTok emerge as leaders in paid social success, with Meta boasting the highest relative Return On Ad Spend (ROAS). Notably, TikTok stands out for new customer acquisition, outpacing other channels in driving new conversions.
• Snapchat’s major update has catapulted it as a growth channel worth watching, with a remarkable 504% increase in ROAS year-over-year.
• The report highlights a widespread issue in the industry: the underrepresentation of impressions-led channels by Google Analytics and ad platforms‘ own attribution models. This discrepancy emphasizes the need for standardized measurement methods to accurately report performance.

Now is the time to reassess your investment in paid social, explore the potential of emerging channels like Snapchat, and adopt reliable measurement methods to navigate the complex digital marketing landscape effectively.

For a deep dive into these insights and to leverage them for your digital strategy, download the full Fospha State of eCommerce Report Q1 2024. Embrace the data-driven insights to refine your approach, optimize spend across platforms, and drive your eCommerce brand towards profitable growth.

The post Fospha’s Insights to Unlock eCommerce Growth in 2024 appeared first on Search Engine Watch.

Source:: searchenginewatch.com

Fospha and Snap announced a partnership that will further enable eCommerce advertisers to measure their Snapchat campaigns.

What’s the problem this partnership is solving?

Measuring the true impact of impressions-led advertising has long been a tough task, especially with new privacy measures, which have made getting the right data even harder.

Fospha has found that basic click-tracking methods (like last-click and MTA) don’t fully recognize the value of upper-funnel activity, with a 2023 study finding that these methods miss about 74% of the sales that come from impression-based media. Across their client base, Fospha also found that brands that aren’t investing in higher-funnel activity like Snapchat have significantly higher acquisition cost and lower return on advertising spend.

Fospha’s latest report reveals Snapchat to be a key growth channel amongst their brands, with ROAS increasing by 504% from 2022 to 2023, even while spend grew 76% YoY. Fospha states that this demonstrates an opportunity to capitalize on strong performance at higher spend levels.

On Snap’s Q4 2023 earnings call, co-founder and CEO Evan Spiegel highlighted the importance of continuing to drive improved performance for advertising partners as a focus for Snap in 2024. Fospha data supports this, showing Snap ROAS has been rising since the company began updating its performance products in late 2022 and early 2023. The Fospha partnership highlights the importance for both companies of empowering brands to improve their attribution capabilities, identify growth opportunities, and maximize returns on their advertising investment.

Why Fospha?

Fospha is pioneering a transformational new approach to cross-channel digital marketing measurement. A no-code implementation means clients are live in 2 to 3 weeks with a year of full funnel performance (impressions, clicks, zero-party data) modelled and it’s completely privacy-safe (no user-level personal data is used).

Sam Carter, Fospha CEO, said, “We’re delighted that Snap is certifying Fospha as a key partner, further validating our mission to help eCommerce brands spend with confidence. Our product allows us to clearly see the massive unrealized opportunity that brands have in paid social media. We’re also particularly bullish on Snap based on the data we see coming in from advertisers. Working with the Snap team to help retailers realize the potential here is really exciting.”

To find out more, reach out to Fospha or your Snapchat account manager for more details.

The post Snap Selects Fospha as Measurement Partner for Retail eCommerce appeared first on Search Engine Watch.

Source:: searchenginewatch.com