First Party Auctions (sounds more fun than it is)- Google changes its ad bidding strategies, Twitter “Stories”, and free access to Google’s Marketing Live Event streaming for the first time ever.
Summary: Google is switching to a highest price wins the bid to place ads across their Ad network. Previously, they employed a second-price model, in which that advertiser would only pay a penny more than the runner-up bid. As a buyer, in theory, you could bid an astronomically high amount and only a penny more than the person who bid second lower than you. Now, you pay what you bid. Although seemingly straightforward, it leaves a lot of questions on the optimal bid amount.
Opinion: This is like the equivalent of Instagram being down for a day for Google Ad buyers. Buyers (including yours truly) will have to adjust pricing to get it to an optimal rate. Bid shading (which is like a compromise for first party auctions) sets a fair price by the vendor (and also seems a little like a fox guarding the henhouse).
Summary: Twitter has released its own version of Facebook/IG Stories. When you swipe left on your Twitter feed, you’ll be taken to a camera to capture content. There aren’t additional stickers or filters yet, but they are likely to come.
Opinion: I feel like all socials are going to look the same in about 2 years. What is going to be the differentiator? These platforms did once have separate strengths (like Twitter for live events, Instagram for visuals, etc.), and these are strengths that should be developed over convergence.
Summary: Google announced it will stream its Google Marketing Live Event for the first time ever. As explained by Google "Did you know that searches for "best” have increased by 80% in the last two years? For example, in recent third-party research, we saw that some people spend over 50 days searching for the “best chocolate” before making a decision.
Google Marketing Live is happening on May 14th - register now to discover how to take action on new consumer insights like these and learn about the latest digital marketing products from Google. For the first time, we'll also be live streaming 8+ hours of additional content from the event. Engage directly with product managers through live Q&A, learn new best practices, and get an inside look at how our latest products are developed."
Opinion: Sign-up! Courtesy of the best blog ever. ;)