Amazon AI Ads Win Big

🤳24th May 2024 | xAI secures $6 billion For Its AI projects, 55% Believe AI Could Improve Online Shopping, and more!

Hey there scroller 🤳

Welcome to today’s edition of Marketing Scroll, bringing you the latest marketing & retail stories in 60-word value bombs.

If your pal sent this to you, then subscribe to be the savviest marketer in the room😉

PERFORMANCE MARKETING

📊 Amazon's AI  Performance+ Ads Slash CPAs by 30-90%

Amazon had introduced a new AI-powered ad product called Performance+ using machine learning to optimize campaigns, offering advertisers 30-90% lower cost-per-acquisition (CPA) rates. Performance+ is part of Amazon’s demand-side platform and predicts user conversion rates to enhance ad performance featuring brand safety controls, and custom attribution settings, and is suitable for brands not selling on Amazon. 

TOGETHER WITH MODASH

With over 250 million influencers and creators worldwide, how do you begin to find the right partners for your brand?   

Ryan Prior from Modash interviewed 4 senior influencer marketers to learn how they approach influencer selection. 

All of them agreed: think beyond your immediate product category.

This is the wrong line of thinking:

I have a beauty product. So, I should work with beauty influencers.

  This is the right line of thinking:

My ideal buyers are women aged 35-45 in New York. Who reaches those people online?

With this audience-based approach, you might still land on the "obvious" choices (like beauty influencers), but it will also give you a much bigger pool of potential partners to test. 

AI

🚀 X Lands $6B for AI Projects

xAI secures nearly $6 billion in new funding for its AI projects, including the Grok AI chatbot. The funds come from investors like Lightspeed Venture Partners, Andreessen Horowitz, Sequoia Capital, and Tribe Capital. This raises xAI's valuation to about $18 billion. 

SOCIAL MEDIA

🚀 Elon Musk’s X Hits 600M Monthly Users 

Source - Social Media Today

Elon Musk announces that X now has 600 million monthly active users and 300 million daily active users marking an increase from the 550 million monthly and 250 million daily active users reported two months ago. The growth is notable as X had not seen an increase in daily active users for 16 months prior. 

SEO

🛑 Google Confirms No Algorithm Penalties for Site Reputation Abuse

Google’s Search Liaison, Danny Sullivan, confirmed that there are no algorithmic actions targeting site reputation abuse yet. This clarification follows speculation within the SEO community about recent traffic drops, particularly highlighted by SEO expert Lily Ray’s observation of a significant traffic decrease for Groupon.  

OUTLOOK

🔍 55% Believe AI Could Improve Online Shopping

Source - Botify

A recent survey by Botify reveals that 55% of consumers believe AI-driven search engines can enhance product and service discovery. Notably, 41% use AI search primarily for online shopping. Millennials and Gen Z are most familiar with generative search, and 56% prefer AI-generated results over traditional ones.    

BRAIN TEASER

You can't see me, but I can see you; To be more specific, I see through. What am I?

Nailed it or stumped? Hit us with a reply and find the correct answer 🎯

Here’s what Yesterday’s teaser was:

The more of these you take, the more appear behind you. What am I?

The answer is: Steps

Thanks for scrolling with us!

Catch up on what you missed by checking out our past issues here. And if you’re in the mood for more bite-sized, 60 words content nuggets? Check out our other daily newsletters:

Daily Scroll: Stay informed with the latest news and trends in America, spanning tech and business to sports and entertainment, delivered in 60-word quick reads.

We'd love to hear your feedback on today's issue of Marketing Scroll! Simply reply to this email and share your thoughts on how we can improve our content and format.

Have a great day, and we will be back on Monday🕺