The Wax: January 2022 Drop

January '22 Drop

Our TL;DR monthly trendspotting and reporting on the sticky stuff for your biz, your brand, and your cultural fluency. Check back monthly for the next 5 best things.

TikTok tips coming in 🔥

Triple Digit Conversion Lift: Tricks to make your ads work harder on TikTok convert

  • The best creative is immersive, sound-on, short and sweet
  • Keep all messaging within the safe zone so important information is not obstructed
  • High-resolution video ads (720p and above) saw a 312% lift in conversion compared to their lower res alternatives
  • Vertical-format videos (9:16) saw a 91% increase in conversion vs. videos that didn’t take up the full screen
  • Videos with clear call-to-action saw a 152% lift in conversion vs. videos that didn’t clearly state what their audience should do next.
  • Use the TikTok Creative Center as a free resources to help discover the top-performing ads and spot user trends

Brand Opp:

Small changes to your TikTok content can be the difference between achieving a positive ROI for your short videos and giving up because the format ‘doesn’t work’. So pay close attention to these details that may appear insignificant at first glance.

The Wax: January 2022 Drop

It pays to give back

Shoppers are looking for brands to stand for something bigger

  • 82% of consumers make purchase decisions with purpose in mind. 70% of consumers agreed that it’s important for brands to give back to their communities
  • Consumers care about society and personal benefits, stating that brands they buy make the world a better place (76%) and that brands they buy make them a better person (67%)
  • Purpose is amplified by proximity, and buying local became more important to consumers during the pandemic.
  • Be authentic and determine where you stand in regard to personal and societal issues so you may serve your customer and limit ‘purpose appropriation’

Brand Opp:

Take small steps before big leaps by focusing on what you can do to have an immediate impact on your local community, while also recognizing the power of your voice. Reduce the time it takes for consumers to discover your purpose by displaying it across all touchpoints.

The Wax: January 2022 Drop

How to monetize the metaverse

Meta might let companies sponsor the appearance of objects in the metaverse

  • The word ‘metaverse’ is borrowed from science-fiction and refers to a future vision of the internet which people access through immersive technologies like VR and AR
  • A recently filed patent said brands would go through a bidding process to ‘sponsor the appearance of an object’ inside a virtual store
  • Another patent included references to a ‘virtual store’ where users could buy virtual products, as well as objects that correspond to real-world items, that have been sponsored by third-party brands
  • Patents don’t necessarily mean the company will utilize these features, but Meta’s head of global affairs confirmed that the business model would be ‘commerce-led’

Brand Opp:

Stay engaged as the technology that is enabling the metaverse continues to evolve. There will be opportunities to grow awareness, engage with your audience, and it appears even sell your products in this new format.

The Wax: January 2022 Drop

NFTs will be as easy to buy as t-shirts

Mastercard x Coinbase to simplify NFT purchases

  • Mastercard is partnering with Coinbase to help consumers buy NFTs via their Mastercards
  • In the same way Coinbase helped millions access crypto, Mastercard wants to help people access NFTs
  • Prior to this engagement, people have used crypto to buy NFTs on platforms such as OpenSea
  • Back in October, Coinbase announced its own NFT market, which received over 1 million sign ups
  • The big idea here is that buying an NFT should be just as easy as buying a t-shirt online

Brand Opp:

With major advances taking the NFT space mainstream, it’s worth considering how your brand can get involved. Can you launch your own NFTs with special perks to loyal customers? Can you utilize NFTs to create an enticing reward program?

The Wax: January 2022 Drop

Gen Z searching for more than a cushy job

Gen Z is prioritizing personal fulfillment over steady paychecks

  • Gen Z is spending only 2 years and 3 months on average at a job
  • This is a considerable drip from millennials who spend an average of 2 years and 9 months on average at their jobs
  • Gen Z is prioritizing company values and personal benefits over competitive paychecks
  • It’s a sign of the times: Gen Zers are piecing together part time jobs, taking advantage of the creator economy and gig jobs
  • Young workers are receiving an 11% salary gain, on average, from job hopping which is much more attractive than the typical 3-5% salary increase/year companies typically give their employees

Brand Opp:

If you are looking to attract young talent, it is worth evaluating your current strategy. Gen Zers are looking for jobs that will fulfill them both financially and mentally. Diversity equity, and inclusion efforts as well as flexible work schedules and quality employee benefits are a great place to start.

The Wax: January 2022 Drop
The Wax: January 2022 Drop

The Wax reported by:
Yasmeena Faycurry & Kate Sanner
2022 Platform Listeners

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