Google and Shopify Team Up to Help 1.7 Million SMBs Reach More Consumers
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09 Sep, 2021, 09:32 ET
NEW YORK, Sept. 9, 2021 /PRNewswire/ -- In May, Google announced a partnership with Shopify to allow more than 1.7 million merchants to reach consumers through Google Search and other services. This partnership is one of the many initiatives by tech companies targeting the massive small and medium business (SMB) market. SMBs account for more than 95% of firms and 60-70% of employment, and they are projected to bring a large share of digital advertising revenue. The increased spending in digital advertising revenue is due to the massive adoption of Ecommerce by SMBs in response to the pandemic. As more small and medium enterprises embrace Ecommerce, companies like Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), The Trade Desk Inc. (NASDAQ:TTD), Magnite Inc. (NASDAQ:MGNI), Roku (NASDAQ:ROKU), and Google (NASDAQ:GOOG) are making it easier for SMBs to reach consumers.
Global provider of Ecommerce and fintech solutions Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ) partnered with GumGum to provide Ecommerce marketers with a powerful targeting solution for various digital advertising campaigns.
Through the partnership, digital advertisers can access GumGum's Verity through the Logiq Digital Marketing platform. Verity combines natural language processing and computer vision to create a powerful solution that scans the entire digital marketing environment and provides a precise understanding of the overall context through text, imagery, audio, and video.
With LDM and Verity, digital marketers can add contextual intelligence to their multi-channel Ecommerce marketing channels and select the best media and ad placement that suits the brand's core values. They can also assess the value of their digital ad placement.
Logic Inc. reported a strong second quarter with its revenue increasing 3% sequentially to $8.3 million with its Ecommerce marketing platform DataLogic (which includes LDM) improved to 28.4% in Q2 2021 from a low of 15.5% in Q2 2020 after improving its internal efficiencies and operations.
Logiq also made significant strides in strengthening business relationships and operations, notably the addition of its new audio channel to the LDM platform. With this new addition, agencies such as Decibel, Sway Group and Digible are using the platform to support their client's media buying programs.
According to the CEO of Sway group, Danielle Wiley the platform "represents one of our lines of business that generates very high-margin revenue streams for us and our partners, so we're very excited about its rapid growth and expansion."
Logiq has proceeded to expand the LDM platform across the Asia Pacific Region to level the playing field for small and mid sized agencies and brands that may not have the budget to scale to a global level.
Unlike Logiq, which caters to major businesses and SMBs, The Trade Desk Inc. (NASDAQ:TTD) focuses on providing marketing solutions to large enterprises which in 2020, spent $4.2 Billion in ad spend, doubling the company's year-over-year revenue to $280 billion in Q2 2021. In the financial report, The Trade Desk revealed that its customer base increased while existing customers expanded their relationship with the company. The company also expanded its marketing platform with the introduction of the Solimar platform, which helps advertisers to achieve their goals faster and with more efficiency through the platform's AI engine, KOA.
Magnite Inc. (NASDAQ:MGNI) is an independent sell-side advertising platform that allows publishers, agencies, and brands to monetize their content across different screens and formats by accessing high-quality and brand-safe ad inventory. Has become the first sell-side platform to participate in the recently launched QTT® Marketplace by developing its own proprietary solution that provides streamlined tools for their clients to enable programmatic monetization of their linear inventory and CTV advertising efforts. Magnite also recently acquired SpringServe, a leader in CTV Ad serving technology to meet the growing needs of leading CTV publishers who are at different stages in their sales channel strategies.
Roku (NASDAQ:ROKU) delivered a strong second quarter with its net revenue growing 81% YoY to $645 million and its gross profit growing 130% YoY to $338 million. The company's ad business strength also grew in Q2 2021 as advertisers moved their ad budgets into TV streaming. The platform's monetized video ad impressions more than doubled YOY and small and midsize businesses increased on the platform.
Google (NASDAQ:GOOG) partnered with Shopify to develop an integration that will make it easier for small and mid-sized enterprises to take advantage of Google's shopping journeys across various Google services including Youtube, Lens, Search, Maps, and Images. This partnership will benefit more than 1.7 million Shopify merchants as well as independent content creators who can sell their merchandise directly through their videos. The integration, named the Shopping Graph, will pull data from brands, websites, and price reviews to help merchants leverage this data to make their decisions.
Small and medium businesses present a massive opportunity for digital advertising companies. Companies such as Logiq are tapping into these opportunities by creating solutions that meet the limited budgets of these businesses and support them through their digital advertising initiatives.
To learn more about Logiq Inc. (NEO:LGIQ) (OTCQX:LGIQ), click here.
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