Shoppers Prefer AI Search?

👻 More Leads, Lower Cost With Snap Ads

May 24, 2024

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AI SEARCH RESULTS

🚨 New Data Reveals Consumer Preferences for AI-Generated Search Results in E-commerce
Insights from Botify 

A recent survey by Dynata explored consumer perceptions of AI-powered search results in e-commerce, highlighting awareness, trust, and preferences.

The Scoop:

Awareness of AI-Powered Search: 56% of consumers used search engines with AI-generated results, while 44% were unaware or hadn't used them. This shows moderate familiarity with AI in search.

Trust in AI-Generated Results: 37% of 1,000 respondents found AI-driven search results more satisfying due to relevancy and trustworthiness. However, 63% were either unaware or unimpressed by these results. Curiosity drove AI search usage, but trust in accuracy remained low.

E-commerce Potential: 41% of respondents favored using AI-powered search for online shopping, the top-rated application. This suggests AI can enhance the shopping experience by improving product discovery.

Consumer Intent and Search Preferences: When comparing traditional and AI-generated results for the query "Best backpack for a week-long hiking trip," 56% preferred AI results, indicating AI's effectiveness for purchase-driven searches.

AI-generated search results can significantly benefit e-commerce by improving product discovery and the shopping experience. Consumers prefer AI results when aligned with purchase intent, highlighting the importance of integrating AI into e-commerce strategies. 

SNAPCHAT ADS

👻 Snap Ad Platform: Direct Response (DR) Enhancements
Insights from Snapchat

Snap has revamped its ads business, enhancing effectiveness and efficiency for advertisers. Here are the latest updates

The Scoop:

Improvements for App Advertisers:

  • Improved Formats: Redesigned ad formats with a unified look enhance user experience. A streamlined app download process on iOS reduces taps, lowering Cost per Installs and improving ROI.

  • Enhanced Optimization: New bidding capabilities for mobile gaming, including Value Optimization based on purchase value. Click-only optimization products like App Install 7/0 and App Purchases 7/0 are also available.

  • 7/0 Delivery: This model, allowing bids for click-through conversions within seven days, increases conversions, lowers costs-per-purchase, and boosts ROAS, contributing to a 75% increase in purchase-related conversions year-over-year in Q1.

Lead Generation Enhancements:

  • CRM Integrations: New partnerships with CRM tools like Zapier improve lead quality and timely delivery, significantly reducing Cost per Lead metrics and optimizing ROI.

Web Advertiser Improvements:

  • Landing Page View Optimization: This new goal helps web advertisers achieve specific KPIs like session volume and reduced bounce rates, lowering costs by over 60% compared to traditional click models.

Measurement & Signals:

  • Conversions API (CAPI) v3: A privacy-safe server-to-server integration enhances measurement, targeting, and optimization. Now available to all advertisers, aligned with industry standards.

  • Third-Party Partnerships: Collaborations with Snowflake, Datahash, LiveRamp, and Tealium speed up CAPI implementation, boosting integrations by 300% year-over-year in Q1 2024, with some customers implementing CAPI in under 10 minutes.

These updates demonstrate Snap’s commitment to enhancing ad efficiency and effectiveness, providing advertisers with tools to achieve better results, higher ROI, and advanced targeting and optimization, all while maintaining data privacy.

AI IN CORPORATES

🌐 Increasing Corporate Adoption of AI
Insights from Stanford University

The Scoop

AI integration in business is on the rise, with 55% of companies reporting AI usage in 2023, up from 50% in 2022 and 20% in 2017. Businesses are leveraging AI to automate contact centers, personalize content, and attract new customers.

QUICK SCOOP

🌏 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. Discover more ways to find your best niches here!

💳 The eCommerce industry suffers from a yearly revenue loss of $31B through Chargebacks. Olipop, Obvi, Magic Mind, and more use Chargeflow, the #1 Chargeback automation platform, as it takes less than 90 seconds to sign up, and the price is fully success-based. Recover your lost revenue on autopilot today!

💰xAI secures nearly $6 billion in new funding for its AI projects, including the Grok AI chatbot. 

🎯 Google’s Search confirms that there are currently no algorithmic actions specifically targeting site reputation abuse


That’s all for today! While we curate another Viral Scoop for Monday, let us know how you felt about today! And share this with someone who’d love it.🥰