Logie joins the NVIDIA Inception Accelerator program

March 27, 2023

Logie.ai has joined an elite group of startups admitted into the NVIDIA Inception Accelerator. The renowned accelerator helps startups evolve faster by providing access to cutting-edge tech, expertise, co-marketing, and connections with venture capitalists. It also exclusively focuses on startup companies that are leading change across industries and across the world.

About NVIDIA

NVIDIA is a leading technology provider known for its innovative graphics processing units (GPUs) and artificial intelligence (AI) technologies. Founded in 1993, the company has transformed the computer graphics industry with high-performance GPUs that enabled realistic and immersive visual experiences for gamers and professionals alike. In recent years, NVIDIA has expanded its focus to include AI, developing hardware and software solutions that have revolutionized fields such as self-driving cars, robotics, and healthcare. With a reputation for cutting-edge technology and a commitment to advancing the frontiers of computing, NVIDIA continues to lead the way in the tech industry.

The Inception Accelerator

The NVIDIA Inception was launched in 2016 and has so far helped mold countless startups. As members, Logie and other organizations have direct access to hardware and software discounts along with free technical training. The program is free for tech startups and mostly features companies that specialize in AI and other breakthrough technologies. According to NVIDIA, the main goal of this Inception is to help promising startups scale faster.

How This Works

Logie’s engineering team will now work with NVIDIA to get on top of the latest tools the company is building while also connecting with investors. With the NVIDIA Developer Program, we’ll also get access to technical support and access to SDKs and other tools to help us accelerate our progress. Through the program, NVIDIA will also adapt the benefits we receive to match our growth trajectory.

“This is a great opportunity for Logie to be a part of the company that is leading the world of generative AI. Throughout our timeline, we have been committed to leading the way by ensuring that we’re innovating at the forefront of social commerce technology. The NVIDIA Inception is another vote of confidence. We’ll make the most out of this incentive to fast-track our technology and make it available to more content creators and brands,” said Mohamed Raza, Logie’s lead software engineer.

This development adds to the number of valuable partnerships that Logie has engaged in over the last few months. Our company continues to take part in beneficial programs and events that help our team grow and make it easier for our engineering team to keep innovating in the social commerce scene.

9 tips to maximize your return on ad spend

Betonsky N.

March 22, 2023

In today’s highly competitive eCommerce landscape, advertising is a crucial tool for vendors to attract customers. Social media and digital platforms make it easier for you to reach your target audience through targeted and personalized advertising – so you can stay ahead of the competition and cultivate a growing customer base.

Return on ad spend (ROAS) is the metric most used to measure the effectiveness of advertising campaigns. It is calculated by dividing the revenue generated from an advertising campaign by the cost of the campaign. As a content creator or Amazon vendor, learning to optimize your Return On Ad Spend can go a long way to expand your bottom line.

Fascinating Stats on ROAS

The average ROAS across all industries is $2 for every $1 spent on advertising – Google Study

Businesses that have an ROAS of 5:1 or higher are generally considered successful – HubSpot Report

40% of US marketers said that increasing ROAS was their top priority for improving advertising performance – eMarketer Survey

Businesses that use remarketing campaigns can see ROAS up to 10 times higher than traditional display advertising campaigns – Tinuiti Report

Businesses that use a combination of search and social advertising can see a 26% increase in ROAS compared to using either channel alone – Marin Software

87% of marketers reported that their ROAS increased or stayed the same in 2020, despite the challenges presented by the COVID-19 pandemic – AdRoll Survey

1. Set Clear Advertising Goals

The first step to optimizing your ROAS is to set clear advertising goals. Start by defining your objectives and what you want to achieve before you even think about running ay ads. Do you want to increase your sales, promote a new product, or improve your brand awareness?

Setting clear goals helps tailor your ad campaigns and create targeted messaging that resonates with your audience. Clear objectives also serve as a tracking board to measure the progress and success of your advertising campaign.

2. Use Data to Identify Your Best-Performing Ads

One of the most effective ways to optimize your ROAS is to use data to identify your best-performing ads. By analyzing your advertising data, you can gain insights into which campaigns, ad groups, or keywords are driving the most revenue.

Advertising platforms provide a wealth of data on your advertising campaigns, including clicks, impressions, conversions, and cost-per-click (CPC). Use this information to identify your top-performing ads and allocate your budget accordingly.

3. Optimize Your Keywords

Keywords are an essential component of your Amazon advertising campaigns. By optimizing your keywords, you may increase ad visibility and attract more relevant traffic to your product listings.

To optimize your keywords, you should conduct thorough keyword research and identify the most relevant and high-performing keywords for your products. You can also use Amazon’s Keyword Research Tool to find new keywords and evaluate their search volume and competition level.

Moreover, it is essential to continuously monitor and refine your keyword strategy to ensure that your ads are targeting the right audience and generating maximum revenue.

4. Use Ad Targeting to Reach Your Ideal Customers

Ad targeting is a powerful tool to help reach your ideal customers and maximize your ROAS. Amazon offers several targeting options, including product targeting, category targeting, and audience targeting.

Product targeting allows you to display your ads on specific product detail pages, while category targeting enables you to target ads to customers browsing specific product categories. Audience targeting lets you reach customers based on their interests, behaviors, and shopping habits.

Maximize these targeting options to create more relevant and personalized ads that resonate with your audience, ultimately leading to higher conversion rates and increased ROAS.

5. Test and Refine Your Ad Creative

Your ad creative is one of the most critical factors for determining the success of your Amazon advertising campaigns. To optimize your ROAS, you should continuously test and refine your ad creative to identify what works best.

Start by experimenting with different ad formats, images, copy, and calls-to-action (CTAs) to figure out which elements drive the highest conversion rates. By testing and refining your ad creative, it’s possible to create more compelling and effective ads that generate maximum revenue.

6. Monitor Your Advertising Metrics

To optimize your ROAS, it is crucial to regularly monitor your advertising metrics. Tracking your campaign performance helps identify any issues or opportunities for improvement so you may take corrective actions.

Some essential metrics to track include click-through rate (CTR), conversion rate, cost-per-click (CPC), and ROAS. Monitor these metrics to identify trends and patterns in your campaign performance and make data-driven decisions to optimize your campaigns further.

7. Adjust Your Bids and Budgets

Bids and budgets are critical components of your advertising campaigns. Adjusting these may help maximize your ad visibility and generate more revenue.

To optimize your bids, focus on the keywords that drive the most revenue and increase your bids accordingly.

Allocate your budget to the campaigns that generate the highest ROAS. By adjusting your budgets, you make sure that your ad spend is focused on the most profitable campaigns and keywords.

8. Use Automated Campaigns

Amazon offers several automated advertising options, including Sponsored Products and Sponsored Brands. These campaigns use machine learning algorithms to optimize your ad targeting, bidding, and creative.

By using automated campaigns, you get to save time and resources while still generating maximum revenue. Automated campaigns allow you to focus on your business and let the advertiser’s algorithms handle the complex optimization tasks.

9. Monitor Your Competitors

It is essential to monitor your competitors’ advertising activities regularly. By tracking your competitors’ ad campaigns, it’s possible to identify new opportunities for optimization and stay ahead of the competition.

Use tools like Jungle Scout, Helium 10, or AMZScout to monitor your competitors’ sales, ad spend, and keyword strategy. Analyzing this data helps identify gaps in the market and adjust your advertising strategy to maximize your revenue.

Conclusion

Optimizing your ad spend requires a combination of careful planning, data analysis, and continuous monitoring. By identifying your target audience, setting clear goals, and testing different strategies, you’ll be able to improve the effectiveness of your ads and maximize your return on investment. Regularly reviewing your metrics and making adjustments as needed also helps stay on track and ensure that you are getting the most out of your ad spend.

Google suspends Chinese budget shopping app Pinduoduo

Betonsky N.

March 21, 2023

Google today suspended Pinduoduo – the popular Chinese shopping app – from the Play Store. The search engine giant took action after malware was found in versions of the app.

Malware is a piece of software that is designed to damage, disrupt, or gain unauthorized access to a computer system. When concealed in otherwise genuine-looking apps, malware may be used to gain access to sensitive information on a user’s phone.

“We have suspended the Play version of the app for security concerns while we continue our investigation,” a Google spokesperson said in a statement released on Tuesday.

This suspension comes at a time when tensions are high over Chinese-owned apps like TikTok that U.S lawmakers fear may pose a security threat as they may be used to spy on American users. TikTok has already been banned on government devices in the U.S., Canada, and the EU.

Pinduoduo is already a popular shopping app in China that is known for generous discounts when users join up and purchase multiple items. Riding on the success of Pinduoduo, the US-listed public company (PDD) launched Temu (a US-based shopping platform) last year.

Google on Tuesday warned its users to remove any Pinduoduo app installations that were not downloaded from its Play Store.

“Google Play Protect enforcement has been set to block installation attempts of these identified malicious apps. Users that have malicious versions of the app downloaded to their devices are warned and prompted to uninstall the app,” the company said in a statement.

In a statement to CNN, Pinduoduo said that it had been informed about its app being ‘temporarily suspended’ because it was not compliant with Google’s Policy. The company added that it was reaching out to Google for more information.

It’s not clear – at this moment in time – whether similar security concerns apply to Apple users. The iOS version is still available for download at the Apple Store.

Apple introduces a live shopping experience for US-based customers

Betonsky N.

March 20, 2023

Apple has launched a Shop with a Specialist over Video service that will enable customers looking to purchase an iPhone to engage with the company’s retail team over video. This live shopping experience will only be available for US customers on Apple’s digital platform.

This is perhaps the latest move when a leading technology company has demonstrated confidence in social commerce. The likes of TikTok, Shopify, YouTube, and Pinterest have all launched a flurry of social commerce and live-stream shopping features over the last few months – as the sector continues to record positive growth in the US.

Through Apple’s new live shopping experience, consumers will be able to access expert advice and guidance from Apple specialists to help select the right iPhone model from the company’s range. Some of the latest devices on offer include the iPhone 14 and iPhone 14 Plus. In addition to discovering available devices, consumers will also be able to use this service to learn more about financing options, Trade-In offers, and more.

“We’re constantly innovating to deliver an even more personalized experience for our customers, meeting them where they are to deliver the best of Apple. With Shop with a Specialist over Video, our team members are excited to connect with customers and provide exceptional service as they learn about which iPhone best suits them,” said Karen Rasmussen, head of Apple Retail Online.

Shop with a Specialist over Video will be available between 7 am to 7 pm daily at apple.com/shop/buy-iPhone. There will be a provision for consumers to engage the specialists via chat or phone should the session be unavailable. The new program is somewhat similar to Today at Apple, which also connects consumers to Apple staff members so they can be assisted in selecting products and accessories.

TikTok Threatened with US Ban if China stake is not sold

Betonsky N.

March 19, 2023

The US government has demanded that TikTok sell its China stake or else face a possible ban in the country.

One of the largest (and fastest-growing) short video platforms in the market today, TikTok is owned by ByteDance (a Chinese company). Officials have been concerned that it poses a data security risk through information gathered on millions of users.

American officials have for years raised concerns that data collected on US-based users could somehow be accessed by the Chinese government. The app has already been banned from government phones in the US, Canada, and the EU.

The request for a change of ownership was first reported by the Wall Street Journal (WSJ) and later confirmed by TikTok. According to the WSJ, President Biden’s administration wants ByteDance to divest itself in order to create a total break from Chinese reach. The move was unanimously recommended by the Committee on Foreign Investments in the United States, which oversees national security risks.

But according to TikTok, divesting its stake would not do much to change the current data flows and access.

“If protecting national security is the objective, divestment doesn’t solve the problem: a change in ownership would not impose any new restrictions on data flows or access. The best way to address concerns about national security is with the transparent, US-based protection of US user data and systems,” a spokesperson of the company said. TikTok also says it has already carried out an effort to move data on American users to the US as part of an initiative it referred to as Project Texas. Earlier this month, the company also launched a similar initiative (Project Clover) to allay similar security fears in the European Union.

Amazon reveals new label to mark popular products

Betonsky N.

March 18, 2023

Amazon is adding a new label to mark popular products’ approximate sales for each product on its website and app public.

The company is testing a new label that will highlight how many of each item have been sold recently (e.g. ‘100K+ bought in past month‘). Instead of providing a precise tally of units sold, the sales number will be an estimate rounded up into hundreds, thousands, or tens of thousands. The maximum sales tally that will appear is capped at 100K, and the time range will vary from a week or a month. While the new changes are not available to everyone, some users can already see the new label on Amazon product pages.

Help Popular Products Stand Out

The new metric is a welcome update that will help popular products stand out on the platform. So far, shoppers have only been able to see the sales rank, a popularity rank that loosely indicates the volume of recent sales in relation to other products. But because sales rank has been one among many other details on a product page, many shoppers seem to be unaware of it. Simply seeing how many units of a certain product have been purchased by other shoppers in the recent past makes it easier to gauge popularity, especially when buying from a little-known or unrecognizable brand.

Product Research Made Easier

Many creators and third-party sellers often employ product research tools that estimate sales volume based on the sales rank. However, with the new metric, estimating sales volume would be much easier. It certainly wouldn’t replace the product research tools currently in use, but would certainly help improve accuracy. It’s important to note though that the label is primarily designed for shoppers and is not (currently) yet available to sellers via Seller Central or APIs.

Did you already see this label on Amazon? Let us know what you think about this new feature and how it’s going to make a difference in the marketplace (for both vendors and shoppers).

Meta shuts down NFTs support on Instagram and Facebook

Betonsky N.

March 15, 2023

Meta is moving away from crypto projects, even after it had pitched NFTs (digital collectibles) as a part of its ‘meta verse’ plans.

What are NFTs?

NFT stands for non-fungible token, which is a type of digital asset that is unique and cannot be exchanged for another asset on a one-to-one basis like traditional currencies or cryptocurrencies. NFTs are based on blockchain technology to allow for digital ownership and verification of authenticity. They have become increasingly popular over the last few years as a way for artists and creators to monetize their digital creations.

Out after less than 1 year

Stephane Kasriel, the company’s head of commerce and financial technologies, wrote on Twitter that the social media giant is retiring its NFT features on both Facebook and Instagram.

NFTs have had a particularly short lifetime at Meta given that the company only began testing the feature last May. The company had then expanded support to creators in 100 countries in July last year.

“We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses,” Kasriel wrote on Twitter.

Moving towards Meta Pay?

It’s likely that the company is planning to prioritize Meta Pay and similar products that are focused on ensuring that creators can earn money off its platforms. Still, this announcement adds to a flurry of ‘peculiar’ changes the company has made over the last year. It’s only recently that they canceled Live Shopping on Facebook and then Instagram.

7 influencer marketing trends that are taking shape in 2023

Betonsky N.

March 15, 2023

Q1 of 2023 is almost over and we have seen some interesting developments in the creator economy. While Meta appears bent on ditching social commerce, almost every other big player has been launching tools for creators. The important thing though is that the sector is making progress and is expected to reach over $62 billion by the end of the year.

From the increased popularity of micro-influencers to the use of ephemeral content, this article explores some of the trends that are already taking center stage.

Micro-influencers continue to rise in popularity
AI-powered influencer marketing becomes more prevalent
Video content is king in influencer marketing
Influencers take a stand for social causes
Long-term partnerships with influencers are prioritized
The use of ephemeral content in influencer marketing
Influencers become more authentic and relatable

1. Micro-influencers continue to rise in popularity

Micro-influencers (influencers with fewer than 10,000 followers) continue to gain momentum in 2023. Brands are recognizing that they can generate just as much impact (if not more) by partnering with multiple micro-influencers instead of one macro-influencer with a larger following. This is because micro-influencers tend to have a more engaged and loyal following, and their content is seen as more authentic and trustworthy. In addition, micro-influencers are typically more affordable, making influencer marketing campaigns more accessible for small businesses and startups.

2. AI-powered influencer marketing becomes more prevalent

Artificial intelligence is transforming influencer marketing by providing brands with more data-driven insights into the performance of influencer campaigns. AI tools are helping analyze massive amounts of data, including social media engagement rates, content themes, and audience demographics. This allows brands to identify the most effective influencers for their campaigns. AI-powered influencer platforms like Logie.ai are also helping automate tasks like influencer discovery, outreach, and performance tracking – saving marketers valuable time and resources.

3. Video content is king in influencer marketing

Video content continues to be a dominant force in influencer marketing. With the likes of TikTok, Instagram Reels, and YouTube Shorts, influencers are increasingly creating short-form videos that are highly engaging and shareable. Brands are leveraging these video platforms to reach younger audiences and capitalize on the trend of snackable content. More so, long-form video content such as IGTV and YouTube videos also continue to be a popular format for influencer collaborations – as they allow for more in-depth storytelling and product demonstrations.

4. Influencers take a stand for social causes

As consumers become more socially conscious, influencers are using their platforms to raise awareness and advocate for important causes. In 2023, we can expect to see more influencer campaigns centered around social issues like sustainability, diversity, and mental health. Influencers are also using their voice to hold brands accountable for their actions and demand more transparency in influencer marketing partnerships.

5. Long-term partnerships with influencers are prioritized

Brands are shifting their focus from one-off influencer collaborations to long-term partnerships with influencers. These partnerships allow brands to build a more authentic relationship with an influencer’s audience and generate more consistent results over time. Long-term partnerships also give influencers the opportunity to become brand ambassadors and create more personalized content that resonates with their followers. This trend also leads to more effective influencer campaigns as brands and influencers better align their content and goals.

6. The use of ephemeral content in influencer marketing

Ephemeral content, or content that disappears after a short period of time, is becoming an increasingly popular format for influencer marketing. Platforms like Snapchat, Instagram Stories, and WhatsApp Status allow brands to create time-sensitive content that creates a sense of urgency and exclusivity for their audience. This format is particularly effective for product launches and flash sales, as it encourages immediate action from consumers. Ephemeral content also offers a more behind-the-scenes look at a brand or influencer’s life, creating a sense of intimacy and authenticity with their audience.

7. Influencers become more authentic and relatable

Influencers continue to prioritize authenticity and relatability in their content. Consumers are becoming increasingly skeptical of overly polished and staged influencer content, and are seeking out more relatable influencers who share their values and experiences. As a result, influencers are leaning into their individuality and creating content that feels more authentic and less commercialized. This trend is also leading to more diverse and inclusive representation in influencer marketing, as brands seek out influencers from different backgrounds and with different perspectives.

Conclusion

Influencer marketing continues to evolve to meet the dynamic needs of both brands and consumers. In addition to the influencer marketing trends, we also see that there’s a greater emphasis on diversity and representation and that marketers are spending more money on TikTok. Staying on top of these trends is a great way to continuously guide your strategy and meet evolving needs.

Meta no longer paying influencers for reels

Betonsky N.

March 14, 2023

Facebook and Instagram influencers will no longer receive attractive payouts for video content published on the platforms. This is an interesting development given that the program has previously paid creators as much as $35,000 in bonuses (per month) for netting more than 58 million views through Reels videos. Many successful creators on Instagram could get anywhere between $600 and $1,000 for a few million views over the past year when the program has been active.

According to Business Insider, the company decided to suspend the lucrative creator rewarding incentive for creating short-form reels on Facebook and Instagram. The program was available to Facebook creators from all over the world but only restricted to Instagram creators based in the U.S. A Meta spokesperson however clarified that anyone who already signed up for a creator bonus over the last 30 days would still receive their payment.

This move comes after a flurry of changes that have put the social media giant in opposing paths with the competition. While the majority of social media and eCommerce platforms in the U.S. have been investing big in social commerce, Meta has been keen to kill it. Many analysts argue that Meta is trying to re-align to new goals but it’s not clear how that is going to happen if it keeps abandoning shopping features and the bounty-for-views programs that have appeared to work so well. Before this announcement, Meta influencers have had a number of ways for monetizing content. One of the top ways to earn money has been through overlay ads that show on Reels. Creators have also been able to generate income through paid online events, subscriptions, badges, and branded content.

E-commerce and tech sector braces for impact after fall of Silicon Valley Bank

Betonsky N.

March 13, 2023

Regulators in California last Friday shuttered Silicon Valley Bank. This was a stunning closure for an institution that has been around since 1983, and that has diligently served startups – including emerging e-commerce ventures. It was the 16^th largest bank in the U.S. Not only did build a name as a reliable financial institution for startup banking and venture banking. Silicon Valley Bank also led to a rise in competition as traditional lenders such as First Republic and JP Morgan also started targeting startups.

The fall of Silicon Valley Bank

The bank last week revealed that it had recorded a $1.8 billion loss (post taxes). This was even after the organization had sold off about $21 billion in securities and had plans to raise a further $2.5 billion to strengthen its financial position. In light of the bank’s unstable position, news broke out on Thursday that several leading venture capital firms had advised their clients to pull their money out of Silicon Valley Bank. This led to a ripple effect that ultimately culminated in the bank’s downfall.

How does this affect ecommerce startups

eCommerce startups have not historically raised vast amounts of venture capital and many of them are thus less reliant on Silicon Valley Bank. However, there have been concerns about seismic ripple effects because companies that do business with eCommerce firms could be affected by the bank’s collapse. For instance, if a technology partner or vendor is affected, then this could lead to an adverse disruption that in fact affects the day-to-day running of firms in the eCommerce sector. Many companies were by Friday afternoon assessing how the bank’s collapse would impact them. Some are resulting in issuing notices to their customers reassuring them that their operations will not be affected while others are scrambling for ways to pre-empty any negative implications.

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About Logie

Logie streamlines influencer discovery, product distribution, and content performance to drive measurable sales for eCommerce brands. We also equip content creators with the smart tools, brand partnerships, and commission opportunities they need to turn content into income.

About NVIDIA

The Inception Accelerator

How This Works

1. Set Clear Advertising Goals

2. Use Data to Identify Your Best-Performing Ads

3. Optimize Your Keywords

4. Use Ad Targeting to Reach Your Ideal Customers

5. Test and Refine Your Ad Creative

6. Monitor Your Advertising Metrics

7. Adjust Your Bids and Budgets

8. Use Automated Campaigns

9. Monitor Your Competitors

Help Popular Products Stand Out

Product Research Made Easier

What are NFTs?

Out after less than 1 year

Moving towards Meta Pay?

1. Micro-influencers continue to rise in popularity

2. AI-powered influencer marketing becomes more prevalent

3. Video content is king in influencer marketing

4. Influencers take a stand for social causes

5. Long-term partnerships with influencers are prioritized

6. The use of ephemeral content in influencer marketing

7. Influencers become more authentic and relatable

The fall of Silicon Valley Bank

How does this affect ecommerce startups

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