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How Video Collaboration Tools are Changing the Game

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How Video Collaboration Tools are Changing the Game

With the advent of modern technology and shifting workplace expectations, it’s no longer necessary to gather everyone in the office to carry out meetings, plan tasks, or even do business. Companies can now use video conferencing tools that allow teams to stay connected, collaborate on projects, and exchange ideas even when working remotely.

But video collaboration tools come with many business benefits too. From boosted employee productivity to increasing sales, let’s discuss five big benefits that video collaboration tools can bring to businesses like yours.

What Are Video Collaboration Tools?

Video collaboration tools are the modern technologies and platforms that allow you to stream and receive video media across the Internet. Video collaboration tools include videoconferencing, streaming, and webcam software, although the list doesn’t stop here. Some of the most popular video collaboration tools are:

  • Zoom, which is prized for its videoconferencing potential and because of the video and audio quality it facilitates
  • Microsoft Teams, which is a fantastic collaboration tool for projects thanks to features like file sharing and chat functionality
  • Google Meet, which has a simplified interface yet still allows up to 250 participants in a single meeting

But whether your brand uses these video collaboration tools or others, one thing is clear: they’re the way of the future. Video collaboration tools enable companies to hold meetings from afar, bringing everyone into the fold, even if most employees work from home offices. They also allow organizations to contact their customers or clients using video calls rather than impersonal emails.

Big Benefits of Video Collaboration Tools

The rise of video collaboration tools didn’t just occur because of the COVID-19 pandemic, although that certainly sped things up. In truth, there are many big benefits to using video collaboration tools, and we’ll discuss five of the most important ones below.

Improved Employee Retention

For starters, video collaboration tools have the potential to improve employee retention, especially if you use a hybrid workplace model and allow some employees to work from home.

Your business could see improved retention rates because video collaboration tools make more positive, unified working environments. They allow employees and managers to communicate openly and honestly with each other, which helps to build feelings of loyalty and engagement.

That’s all not to say that video collaboration tools are not the only effective ways of facilitating meetings. Text-based communication, like emails or chat sessions, can be very effective as well. As an example, Weave allows medical clinics to use direct text messaging tools to connect with patients from anywhere in the world.

No longer do patients need to make long, tiring journeys to visit physical offices and get the support and treatment they need – now they can handle a lot of meetings from afar, all while meeting with the same trusted advisors they’ve grown used to and receiving the same expert care as always.

Employee Flexibility

In keeping with the above, video collaboration tools allow employees to benefit from more schedule flexibility. Videoconferencing and collaboration software is so advanced that many tasks can be completed entirely remotely. This opens up the opportunity for you to let employees work from home or even full-time.

Not only will this give workers more freedom over their daily lives, but it will also allow your business to save money since you won’t need to spend as much on office space. Plus, greater employee flexibility often leads to better brand loyalty, so your most valuable workers will stick with your company through thick and thin rather than being swayed to a competitor by a bigger paycheck or other perks.

Boosted Productivity

Of course, video collaboration tools have further changed the game for lots of companies by boosting productivity, which is increasingly important in today’s competitive business environment.

Video collaboration tools can help boost employee productivity by:

  • Enabling quick and efficient communication between team members. As a result, tasks can be completed much more rapidly and accurately.
  • Letting employees get the information they need to accomplish tasks quickly with features like document sharing and editing, instant messaging, and more.
  • Reducing the need for time-consuming in-person meetings and lengthy emails. On top of that, eliminating such meetings will undoubtedly have a positive effect on office morale and workplace culture.

Higher Sales

Video collaboration tools may even lead to higher sales and increased revenue for your business. That’s because video collaboration is a major asset when you want to increase customer engagement. If customers can connect and communicate with salespeople online through video conferencing software, for example, they’ll be more likely to make purchases, even if they buy things over the Internet.

Your salespeople, in turn, can provide your target customers with everything they need and give them more personalized experiences. Customers who receive personalized experiences are more likely to have loyalty to your company and make repeat purchases in the future.

As you can see, all of these things feed into each other and lead to a better shopping experience for the customer and a better time for your workers, who feel that they are better able to deliver exactly what your customers need.

Better Customer Satisfaction

Lastly, video collaboration tools lead to better customer satisfaction. By leveraging videoconferencing and telecommunications technology, your brand can:

  • Build long-lasting, enduring relationships with target customers. Customers can see people behind the brand rather than communicating over text-based messages like emails. This helps to build trust and loyalty.
  • Answer questions and concerns for customers quickly and accurately. For example, a customer service agent can use video collaboration tools to directly answer a customer complaint rather than responding over a chat box or an impersonal email.

Other data points, such as marketing results and social media metrics, point to similar results across the board in many different industries. Customers are happier than ever with the ability to connect with professionals, specialists, and advisors over the Internet using video collaboration tools.

More than anything, video collaboration tools make brands more available to their chief customers, which makes them better choices than their competitors. For this reason, above all else, it may be a good idea to adopt video collaboration tools ASAP.

Why Are Video Communication and Collaboration So Successful?

It’s simple: video communication and collaboration software increase human, person-to-person connections. Internet communication is a marvel in and of itself. But it’s often impersonal, and people have difficulty feeling a connection or loyalty to brands that they only view online.

When potential customers interact with the people behind the screen, however, such as salespeople, customer service agents, and managers, they are more likely to see the business as the living, breathing thing it really is.

This goes for both customers and your teammates or employees. Video collaboration tools change the game by reintroducing the human element into business, even in our modern, Internet-reliant world.

Conclusion

Video collaboration tools aren’t going away anytime soon. It’s better to lean into this industry-wide trend and take advantage of video collaboration software for your enterprise, no matter what industry you work in. From improved employee retention to increased customer satisfaction and boosts in sales, these tools can help take your business to the next level.

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AI driving an exponential increase in marketing technology solutions

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AI driving an exponential increase in marketing technology solutions

The martech landscape is expanding and AI is the prime driving force. That’s the topline news from the “Martech 2024” report released today. And, while that will get the headline, the report contains much more.

Since the release of the most recent Martech Landscape in May 2023, 2,042 new marketing technology tools have surfaced, bringing the total to 13,080 — an 18.5% increase. Of those, 1,498 (73%) were AI-based. 

Screenshot 2023 12 05 110428 800x553

“But where did it land?” said Frans Riemersma of Martech Tribe during a joint video conference call with Scott Brinker of ChiefMartec and HubSpot. “And the usual suspect, of course, is content. But the truth is you can build an empire with all the genAI that has been surfacing — and by an empire, I mean, of course, a business.”

Content tools accounted for 34% of all the new AI tools, far ahead of video, the second-place category, which had only 4.85%. U.S. companies were responsible for 61% of these tools — not surprising given that most of the generative AI dynamos, like OpenAI, are based here. Next up was the U.K. at 5.7%, but third place was a big surprise: Iceland — with a population of 373,000 — launched 4.6% of all AI martech tools. That’s significantly ahead of fourth place India (3.5%), whose population is 1.4 billion and which has a significant tech industry. 

Dig deeper: 3 ways email marketers should actually use AI

The global development of these tools shows the desire for solutions that natively understand the place they are being used. 

“These regional products in their particular country…they’re fantastic,” said Brinker. “They’re loved, and part of it is because they understand the culture, they’ve got the right thing in the language, the support is in that language.”

Now that we’ve looked at the headline stuff, let’s take a deep dive into the fascinating body of the report.

The report: A deeper dive

Marketing technology “is a study in contradictions,” according to Brinker and Riemersma. 

In the new report they embrace these contradictions, telling readers that, while they support “discipline and fiscal responsibility” in martech management, failure to innovate might mean “missing out on opportunities for competitive advantage.” By all means, edit your stack meticulously to ensure it meets business value use cases — but sure, spend 5-10% of your time playing with “cool” new tools that don’t yet have a use case. That seems like a lot of time.

Similarly, while you mustn’t be “carried away” by new technology hype cycles, you mustn’t ignore them either. You need to make “deliberate choices” in the realm of technological change, but be agile about implementing them. Be excited by martech innovation, in other words, but be sensible about it.

The growing landscape

Consolidation for the martech space is not in sight, Brinker and Riemersma say. Despite many mergers and acquisitions, and a steadily increasing number of bankruptcies and dissolutions, the exponentially increasing launch of new start-ups powers continuing growth.

It should be observed, of course, that this is almost entirely a cloud-based, subscription-based commercial space. To launch a martech start-up doesn’t require manufacturing, storage and distribution capabilities, or necessarily a workforce; it just requires uploading an app to the cloud. That is surely one reason new start-ups appear at such a startling rate. 

Dig deeper: AI ad spending has skyrocketed this year

As the authors admit, “(i)f we measure by revenue and/or install base, the graph of all martech companies is a ‘long tail’ distribution.” What’s more, focus on the 200 or so leading companies in the space and consolidation can certainly be seen.

Long-tail tools are certainly not under-utilized, however. Based on a survey of over 1,000 real-world stacks, the report finds long-tail tools constitute about half of the solutions portfolios — a proportion that has remained fairly consistent since 2017. The authors see long-tail adoption where users perceive feature gaps — or subpar feature performance — in their core solutions.

Composability and aggregation

The other two trends covered in detail in the report are composability and aggregation. In brief, a composable view of a martech stack means seeing it as a collection of features and functions rather than a collection of software products. A composable “architecture” is one where apps, workflows, customer experiences, etc., are developed using features of multiple products to serve a specific use case.

Indeed, some martech vendors are now describing their own offerings as composable, meaning that their proprietary features are designed to be used in tandem with third-party solutions that integrate with them. This is an evolution of the core-suite-plus-app-marketplace framework.

That framework is what Brinker and Riemersma refer to as “vertical aggregation.” “Horizontal aggregation,” they write, is “a newer model” where aggregation of software is seen not around certain business functions (marketing, sales, etc.) but around a layer of the tech stack. An obvious example is the data layer, fed from numerous sources and consumed by a range of applications. They correctly observe that this has been an important trend over the past year.

Build it yourself

Finally, and consistent with Brinker’s long-time advocacy for the citizen developer, the report detects a nascent trend towards teams creating their own software — a trend that will doubtless be accelerated by support from AI.

So far, the apps that are being created internally may be no more than “simple workflows and automations.” But come the day that app development is so democratized that it will be available to a wide range of users, the software will be a “reflection of the way they want their company to operate and the experiences they want to deliver to customers. This will be a powerful dimension for competitive advantage.”

Constantine von Hoffman contributed to this report.

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Mastering The Laws of Marketing in Madness

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Mastering The Laws of Marketing in Madness

Mastering The Laws of Marketing in Madness

Navigating through the world of business can be chaotic. At the time of this publication in November 2023, global economic growth is expected to remain weak for an undefined amount of time.

However, certain rules of marketing remain steadfast to guide businesses towards success in any environment. These universal laws are the anchors that keep a business steady, helping it thrive amidst uncertainty and change.

In this guide, we’ll explore three laws that have proven to be the cornerstones of successful marketing. These are practical, tried-and-tested approaches that have empowered businesses to overcome challenges and flourish, regardless of external conditions. By mastering these principles, businesses can turn adversities into opportunities, ensuring growth and resilience in any market landscape. Let’s uncover these essential laws that pave the way to success in the unpredictable world of business marketing. Oh yeah, and don’t forget to integrate these insights into your career. Follow the implementation steps!

Law 1: Success in Marketing is a Marathon, Not a Sprint

Navigating the tumultuous seas of digital marketing necessitates a steadfast ship, fortified by a strategic long-term vision. It’s a marathon, not a sprint.

Take Apple, for instance. The late ’90s saw them on the brink of bankruptcy. Instead of grasping at quick, temporary fixes, Apple anchored themselves in a long-term vision. A vision that didn’t just stop at survival, but aimed for revolutionary contributions, resulting in groundbreaking products like the iPod, iPhone, and iPad.

In a landscape where immediate gains often allure businesses, it’s essential to remember that these are transient. A focus merely on the immediate returns leaves businesses scurrying on a hamster wheel, chasing after fleeting successes, but never really moving forward.

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A long-term vision, however, acts as the north star, guiding businesses through immediate challenges while ensuring sustainable success and consistent growth over time.

Consider This Analogy: 

Building a business is like growing a tree. Initially, it requires nurturing, patience, and consistent care. But with time, the tree grows, becoming strong and robust, offering shade and fruits—transforming the landscape. The same goes for business. A vision, perseverance, and a long-term strategy are the nutrients that allow it to flourish, creating a sustainable presence in the market.

Implementation Steps: 

  • Begin by planning a content calendar focused on delivering consistent value over the next six months. 
  • Ensure regular reviews and necessary adjustments to your long-term goals, keeping pace with evolving market trends and demands. 
  • And don’t forget the foundation—invest in robust systems and ongoing training, laying down strong roots for sustainable success in the ever-changing digital marketing landscape.

Law 2: Survey, Listen, and Serve

Effective marketing hinges on understanding and responding to the customer’s needs and preferences. A robust, customer-centric approach helps in shaping products and services that resonate with the audience, enhancing overall satisfaction and loyalty.

Take Netflix, for instance. Netflix’s evolution from a DVD rental company to a streaming giant is a compelling illustration of a customer-centric approach.

Their transition wasn’t just a technological upgrade; it was a strategic shift informed by attentively listening to customer preferences and viewing habits. Netflix succeeded, while competitors such a Blockbuster haid their blinders on.

Here are some keystone insights when considering how to Survey, Listen, and Serve…

Customer Satisfaction & Loyalty:

Surveying customers is essential for gauging their satisfaction. When customers feel heard and valued, it fosters loyalty, turning one-time buyers into repeat customers. Through customer surveys, businesses can receive direct feedback, helping to identify areas of improvement, enhancing overall customer satisfaction.

Engagement:

Engaging customers through surveys not only garners essential feedback but also makes customers feel valued and involved. It cultivates a relationship where customers feel that their opinions are appreciated and considered, enhancing their connection and engagement with the brand.

Product & Service Enhancement:

Surveys can unveil insightful customer feedback regarding products and services. This information is crucial for making necessary adjustments and innovations, ensuring that offerings remain aligned with customer needs and expectations.

Data Collection:

Surveys are instrumental in collecting demographic information. Understanding the demographic composition of a customer base is crucial for tailoring marketing strategies, ensuring they resonate well with the target audience.

Operational Efficiency:

Customer feedback can also shed light on a company’s operational aspects, such as customer service and website usability. Such insights are invaluable for making necessary enhancements, improving the overall customer experience.

Benchmarking:

Consistent surveying allows for effective benchmarking, enabling businesses to track performance over time, assess the impact of implemented changes, and make data-driven strategic decisions.

Implementation Steps:

  • Regularly incorporate customer feedback mechanisms like surveys and direct interactions to remain attuned to customer needs and preferences.
  • Continuously refine and adjust offerings based on customer feedback, ensuring products and services evolve in alignment with customer expectations.
  • In conclusion, adopting a customer-centric approach, symbolized by surveying, listening, and serving, is indispensable for nurturing customer relationships, driving loyalty, and ensuring sustained business success.

Law 3: Build Trust in Every Interaction

In a world cluttered with countless competitors vying for your prospects attention, standing out is about more than just having a great product or service. It’s about connecting authentically, building relationships rooted in trust and understanding. It’s this foundational trust that transforms casual customers into loyal advocates, ensuring that your business isn’t just seen, but it truly resonates and remains memorable.

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For instance, let’s talk about Oprah! Through vulnerability and honest connections, Oprah Winfrey didn’t just build an audience; she cultivated a community. Sharing, listening, and interacting genuinely, she created a media landscape where trust and respect flourished. Oprah was known to make her audience and even guests cry for the first time live. She had a natural ability to build instant trust.

Here are some keystone insights when considering how to develop and maintain trust…

The Unseen Fast-Track

Trust is an unseen accelerator. It simplifies decisions, clears doubts, and fast-forwards the customer journey, turning curiosity into conviction and interest into investment.

The Emotional Guardrail

Trust is like a safety net or a warm embrace, making customers feel valued, understood, and cared for. It nurtures a positive environment, encouraging customers to return, not out of necessity, but a genuine affinity towards the brand.

Implementation Steps:

  • Real Stories: Share testimonials and experiences, both shiny and shaded, to build credibility and show authenticity.
  • Open Conversation: Encourage and welcome customer feedback and discussions, facilitating a two-way conversation that fosters understanding and improvement.
  • Community Engagement: Actively participate and engage in community or industry events, align your brand with genuine causes and values, promoting real connections and trust.

Navigating through this law involves cultivating a space where authenticity leads, trust blossoms, and genuine relationships flourish, engraving a memorable brand story in the hearts and minds of the customers.

Guarantee Your Success With These Foundational Laws

Navigating through the world of business is a demanding odyssey that calls for more than just adaptability and innovation—it requires a solid foundation built on timeless principles. In our exploration, we have just unraveled three indispensable laws that stand as pillars supporting the edifice of sustained marketing success, enabling businesses to sail confidently through the ever-shifting seas of the marketplace.

Law 1: “Success in Marketing is a Marathon, Not a Sprint,” advocates for the cultivation of a long-term vision. It is about nurturing a resilient mindset focused on enduring success rather than transient achievements. Like a marathon runner who paces themselves for the long haul, businesses must strategize, persevere, and adapt, ensuring sustained growth and innovation. The embodiment of this law is seen in enterprises like Apple, whose evolutionary journey is a testament to the power of persistent vision and continual reinvention.

Law 2: “Survey, Listen, and Serve,” delineates the roadmap to a business model deeply intertwined with customer insights and responsiveness. This law emphasizes the essence of customer-centricity, urging businesses to align their strategies and offerings with the preferences and expectations of their audiences. It’s a call to attentively listen, actively engage, and meticulously tailor offerings to resonate with customer needs, forging paths to enhanced satisfaction and loyalty.

Law 3: “Build Trust in Every Interaction,” underscores the significance of building genuine, trust-laden relationships with customers. It champions the cultivation of a brand personality that resonates with authenticity, fostering connections marked by trust and mutual respect. This law navigates businesses towards establishing themselves as reliable entities that customers can resonate with, rely on, and return to, enriching the customer journey with consistency and sincerity.

These pivotal laws form the cornerstone upon which businesses can build strategies that withstand the tests of market volatility, competition, and evolution. They stand as unwavering beacons guiding enterprises towards avenues marked by not just profitability, but also a legacy of value, integrity, and impactful contributions to the marketplace. Armed with these foundational laws, businesses are empowered to navigate the multifaceted realms of the business landscape with confidence, clarity, and a strategic vision poised for lasting success and remarkable achievements.

Oh yeah! And do you know Newton’s Law?The law of inertia, also known as Newton’s first law of motion, states that an object at rest will stay at rest, and an object in motion will stay in motion… The choice is yours. Take action and integrate these laws. Get in motion!


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Intro to Amazon Non-endemic Advertising: Benefits & Examples

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Intro to Amazon Non-endemic Advertising: Benefits & Examples

Amazon has rewritten the rules of advertising with its move into non-endemic retail media advertising. Advertising on Amazon has traditionally focused on brands and products directly sold on the platform. However, a new trend is emerging – the rise of non-endemic advertising on this booming marketplace. In this article, we’ll dive into the concept of non-endemic ads, their significance, and the benefits they offer to advertisers. This strategic shift is opening the floodgates for advertisers in previously overlooked industries.

While endemic brands are those with direct competitors on the platform, non-endemic advertisers bring a diverse range of services to Amazon’s vast audience. The move toward non-endemic advertising signifies Amazon’s intention to leverage its extensive data and audience segments to benefit a broader spectrum of advertisers.

Endemic vs. Non-Endemic Advertising

 

Let’s start by breaking down the major differences between endemic advertising and non-endemic advertising… 

Endemic Advertising

Endemic advertising revolves around promoting products available on the Amazon platform. With this type of promotion, advertisers use retail media data to promote products that are sold at the retailer.

Non-Endemic Advertising

In contrast, non-endemic advertising ventures beyond the confines of products sold on Amazon. It encompasses industries such as insurance, finance, and services like lawn care. If a brand is offering a product or service that doesn’t fit under one of the categories that Amazon sells, it’s considered non-endemic. Advertisers selling products and services outside of Amazon and linking directly to their own site are utilizing Amazon’s DSP and their data/audience segments to target new and relevant customers.

7 Benefits of Running Non-Endemic Ad Campaigns

 

Running non-endemic ad campaigns on Amazon provides a wide variety of benefits like:

Access to Amazon’s Proprietary Data: Harnessing Amazon’s robust first-party data provides advertisers with valuable insights into consumer behavior and purchasing patterns. This data-driven approach enables more targeted and effective campaigns.

Increased Brand Awareness and Revenue Streams: Non-endemic advertising allows brands to extend their reach beyond their typical audience. By leveraging Amazon’s platform and data, advertisers can build brand awareness among users who may not have been exposed to their products or services otherwise. For non-endemic brands that meet specific criteria, there’s an opportunity to serve ads directly on the Amazon platform. This can lead to exposure to the millions of users shopping on Amazon daily, potentially opening up new revenue streams for these brands.

No Minimum Spend for Non-DSP Campaigns: Non-endemic advertisers can kickstart their advertising journey on Amazon without the burden of a minimum spend requirement, ensuring accessibility for a diverse range of brands.

Amazon DSP Capabilities: Leveraging the Amazon DSP (Demand-Side Platform) enhances campaign capabilities. It enables programmatic media buys, advanced audience targeting, and access to a variety of ad formats.

Connect with Primed-to-Purchase Customers: Amazon’s extensive customer base offers a unique opportunity for non-endemic advertisers to connect with customers actively seeking relevant products or services.

Enhanced Targeting and Audience Segmentation: Utilizing Amazon’s vast dataset, advertisers can create highly specific audience segments. This enhanced targeting helps advertisers reach relevant customers, resulting in increased website traffic, lead generation, and improved conversion rates.

Brand Defense – By utilizing these data segments and inventory, some brands are able to bid for placements where their possible competitors would otherwise be. This also gives brands a chance to be present when competitor brands may be on the same page helping conquest for competitors’ customers.

How to Start Running Non-Endemic Ads on Amazon

 

Ready to start running non-endemic ads on Amazon? Start with these essential steps:

Familiarize Yourself with Amazon Ads and DSP: Understand the capabilities of Amazon Ads and DSP, exploring their benefits and limitations to make informed decisions.

Look Into Amazon Performance Plus: Amazon Performance Plus is the ability to model your audiences based on user behavior from the Amazon Ad Tag. The process will then find lookalike amazon shoppers with a higher propensity for conversion.

“Amazon Performance Plus has the ability to be Amazon’s top performing ad product. With the machine learning behind the audience cohorts we are seeing incremental audiences converting on D2C websites and beating CPA goals by as much as 50%.” 

– Robert Avellino, VP of Retail Media Partnerships at Tinuiti

 

Understand Targeting Capabilities: Gain insights into the various targeting options available for Amazon ads, including behavioral, contextual, and demographic targeting.

Command Amazon’s Data: Utilize granular data to test and learn from campaign outcomes, optimizing strategies based on real-time insights for maximum effectiveness.

Work with an Agency: For those new to non-endemic advertising on Amazon, it’s essential to define clear goals and identify target audiences. Working with an agency can provide valuable guidance in navigating the nuances of non-endemic advertising. Understanding both the audience to be reached and the core audience for the brand sets the stage for a successful non-endemic advertising campaign.

Conclusion

 

Amazon’s venture into non-endemic advertising reshapes the advertising landscape, providing new opportunities for brands beyond the traditional ecommerce sphere. The  blend of non-endemic campaigns with Amazon’s extensive audience and data creates a cohesive option for advertisers seeking to diversify strategies and explore new revenue streams. As this trend evolves, staying informed about the latest features and possibilities within Amazon’s non-endemic advertising ecosystem is crucial for brands looking to stay ahead in the dynamic world of digital advertising.

We’ll continue to keep you updated on all things Amazon, but if you’re looking to learn more about advertising on the platform, check out our Amazon Services page or contact us today for more information.

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