Ad Cost Increases + Employee Influencers + Useful ChatGPT prompts

finish the week strong.

Welcome to the end of the week wrap up where we share tools, tips, and ideas that help drive your growth efforts forward. This week we highlight Ad Cost Increases, employees now influencers, and using ChatGPT for a SWOT analysis + competitor analysis!

💰 Ad Cost Increases

If you have been running paid media or feeling like leads are scarce—you are not alone. Ad budgets decrease from economic challenges—triggering layoffs marketers are feeling the heat to maintain past performance within the same budgets.

However, costs are increasing drastically. Take social media for example recent reports mention Facebook ad’s CPM has increased by 89% and TikTok’s CPM has increased by 92%. This means it is more important than ever for brands to have proper tracking in place because likely their current budgets are less effective. Hunch also reported that 26% of users who click on Facebook Ads actually convert and make a purchase. Meaning, these channels are still valuable but overall spending is slowing as budgets decrease and the cost of the actual conversion has increased. Forcing a more competitive environment than in previous years.

Employees Now Influencers

Companies are now leveraging employees’ social channels to drive more awareness and engagement. I was pleasantly surprised to see a recent write up affirming that the days of a personal brand being looked down upon are over. In fact, within my own professional career, I’ve given talks on personal branding and leveraging LinkedIn as a tool to drive engagement for the company. When done well this adds value to the employee’s own social branding as well as the business.

Having been a micro-influencer and creator myself I’ve definitely had to combat not oversharing about my personal brand success to previous employers. Today, it’s a total 180, and those who tend to stand out do have their own mediums of engagement and channels like TikTok, Instagram, Youtube, blogs, and podcasts, etc for growth are more desirable to those hiring.

SWOT Analysis + Competitor Analysis

Many of us are using AI tools to help drive productivity and look at things from another angle. One prompt I came across recently that I found helpful was running the prompt SWOT Analysis for “Chasing Creative” to generate insights on perceived strengths, weaknesses, opportunities, and threats for my agency. While the accuracy is not 100% it’s a great launch pad for generating new ideas and analysis of your current business.

One other long-form prompt I really likely running and the results is the following for Competitor Analysis:

I want you to act like an analysis/ auditor. I want you to perform an analysis of with the following top 5 competitors: . I need you to assess the differences and similarities between and . I need you to focus on pricing, market positioning, branding, and messaging. Research the relevant market and analyze each brand to identify key differences and similarities. Present all the information in a detailed report that includes charts, graphs, and tables. Based on all the information let me know how can improve the actionable steps we can take to make be better than

Give it a go it’s surprisingly powerful. Very tactical in fundamentals that could boost your strategy.

Thanks for joining us this week and remember you are almost there. Keep up the hustle!

Cheers,

Blake, Founder of Chasing Creative