According to some infographic from McKinsey&Company successful digital marketing can boost their marketing effectiveness by 15-25% if they use the following five components of marketing operations. So, if your company wants to beat the competition, you better follow the advice to implement these five important components.
Here is just some remarks from our consulting business to why those topics might be of relevance to your digital strategy…
1. Customer Insights
Many companies still have not yet implemented a real web analytics or a social media monitoring tool in order to understand the inner and outer impact of consumer demands and reactions.
2. Customer Experience
Market research and product marketing often pretends to know what needs to be build, produced or offered. However, reality shows that often consumer expectations and company opportunities lack the match. Often companies lack the alignment with sales and marketing.
3. KPIs and Measurement
Understanding what makes consumers, companies and decision makers purchase a product or service is aiming for predictive analysis and forecasting when focusing on ROI. Still, KPIs need to be realistic and often lacks the knowledge of what technology is capable of.
4. Marketing Technology Infrastructure
The real bottleneck of digital marketing these days. As of the big marketing technology landscape and a grown intern technology infrastructure, technology decisions are very often a shot in the dark.
5. Process & Governance
Generating real benefit from technology is depending on the right people who get the appropriate training und understanding for the tools‘ capabilities. And as people are often not used to those modern tools and how to use them, they want a (brand) governance (and compliance frameworks) which keeps them in their seats.
Mobile is on the rise but web is still king? Well, it is one of these findings that makes you wonder on first reading. Although websites still reach bigger audiences, web users spend most of their time in mobile apps according to comScore.
Monitoring the time between June 2014 and 2015, comScore finds in some research that the audience for mobile websites is around 250% bigger than mobile apps. Furthermore, it is growing twice as fast as apps. As a reason for this development comScore sees the closed garden phenomenon a challenge for apps. Web versions are much more fluid in terms of linking between content, social and search.
comScore also found that FB and Google own eight of the 10 most-visited mobile apps with Facebook winning the „competition“ (almost 126 million unique visitors) with nearly one in two users who installed the app saying using it most frequently.
It is not surprising that Facebook’s app as of it’s reach is not the fastest growing app any more compared to Google’s audio-video sharing platform Youtube (9 to 18% growth) with 99 million users. However, after seperating their Messenger app from their main Facebook platform, the Messenger was grew double the size compared to last year.
Where people between the age of 18 and 34 spend most of their time is on Facebook (nearly 26 hours a month), Instagram (7 hours), Snapchat and Tumblr (6 hours) and Twitter (3,5 hours).
ComScore said mobile phones now account for 62% of all time spent online. Within that total, the research firm said 44% of time is spent on smartphone apps, up from 33% two years earlier. Mobile users spend more than 70% of their time in smartphone apps, dwarfing time spent on tablet apps and mobile websites.
The comScore mobile report gives a good indication of where the evolution of apps and their usage might lead in the future. It shows that „messaging is a very hot sector for apps“ but is still early stages in the US. Looking at the time people spend with certain categories, the leading areas of interest were social networking (29%), radio (15%), games (11%), multimedia and instant messaging (6%), and music (4%).
As the research was monitoring the US audience, the two apps that were not owned by Facebook and Google under the top 10 were the music apps from Pandora and Apple Music. Furthermore, new service apps like Uber and Lyft have become more and more popular, comScore finds.
To decide strategically on social selling is not a question, if it is going to stay in the future, rather than how and why to use it. If your sales people and your brand wants to step out of the circle of those „We are not there yet!“ industries, then the following infographic from LinkedIn might deliver the right inspiration on how to leverage social selling tools in order to amplify your brands messaging and your company’s outreach. If you start today, it will demonstrate your thought leadership and brand advocacy of your employees if you set up the processes right with the aim to build loyalty and generate more leads than your competition.
So, if you want to become a top (social) seller, check out this infographic. Consider the options and make sure you use the advice given from today on.
Fair enough, it is only a US-based insight among some 2,000 online and mobile shoppers in July 2015. However, the message could be taken to any other market I guess these days…
The main factor for consumers to make a purchase decision, is trust. This is the finding from Amazon which conducted a study with Pymnts.com in order to understand, where consumers start their buying journey, why consumers buy from one site and leave the other one without making any purchase. Furthermore, the study states that price or ease of delivery are not the main features driving purchase decisions.
The US consumer needs trust in a site (23%) so that they purchase from some retailer. Oterh features that came in th next places were tailored promotions or rewards (16%), a good experience in the past (14%) or products being available in an acceptable time frame (13%).
Interestingly enough, other tactics like good shipping considerations (11%), preferred method of payment (8%), ease of use (6%), a site that recognizes me (4%), being a preferred customer (3%), being able to check out as a guest (1%) and store billing and shipping info (1%) came in much later in the ranking.
„You need a strategy that is about more than being present,“ he said. „You need a strategy that is about being present where your customers are because if you are not, then you are not being customer centric. There’s no such thing as a relationship without trust.“ (Patrick Gauthier, VP, Amazon Payments)
So, where does the consumer journey start? The study also found that almost every second out of three respondents (64%) start by searching for a product on a marketplace, followed by their favourite brand websites (48%), search engines (40%) and social media (29%).
„The ultimate digital destinations are driven by trust – trust that the sites have what they want to buy, trust that they will be given a fair price, trust that their goods will be delivered to them in a time frame that is relevant.“ Karen Webster, CEO, MPD
Just check your own habits and experience. What would you say makes you buy something from an online shop? We look forward to your comments…
If you want to get an overview on Social Selling tools, you need to follow the industry very closely as this market has become quite dynamic. Furthermore, the value of each tool (CRM suites, monitoring solutions or engagement technologies) or platform (Twitter, LinkedIn, etc.) may vary. The question for many marketers is which tool does really give some value add to the business. Most marketers often tell us that they need some kind of an overview on which social selling tool they should use.
Now, the guys at Sales For Life have come up with some interesting approach that showcases all tools for the various sales stages: prospecting, qualifying, researching, nurturing, presenting, closing, and retention. Just click here to get to their interactive infographic.
For those of you who do not understand the value of Social Selling, we advice on some infographic based on a study by PeopleLinx. It shows the best platforms to use and states that 76% of sales reps consider LinkedIn as the most valuable social media network strongly before Twitter, Facebook or Google+.
What we also can see is from our projects is that not many companies offer an appropriate support and training on social selling. 11% of respondents stated their employers offer training on social selling. However, the benefits are striking. When reps get training on social selling, the adoption climbs from 28% to 74%.
Now, if that is not the right argument to start social selling today?!
Many companies find that their people, processes and products lack digital maturiy, digital capabilities and digital innovation. Now, a recent study by MIT Sloan Management Review and Deloitte Digital finds that most employees (and not only GenY!) are not happy how their companies understand and leverage digital transformation. They want to work for the digitally mature management teams and leaders.
The report called „Strategy, Not Technology, Drives Digital Transformation“ surveyed over 4,800 business executives across 27 industries and 129 countries. The main finding is that the opportunity to digitally transform and to turn a business into a digital business depends largely on a digital strategy enabled by leaders who understand to create a culture that is open to change and reinvent an organization.
The study also makes clear that digital maturity of brands is based on the talents that companies can safe and hire these days. Over 75% of the digital mature companies agree or strongly agree that their organizations provide the necessary skills to capitalize on digital trends. Against those stand the immature companies where only 15% say that their organizations have a clear and coherent digital strategy.
Companies that are not yet digitally developed and advanced tend to focus on operations and what technology can do for them in an operational, tactical way. However, digitally advanced companies leverage their products always evaluating the digital transformation view in their strategic approch.
Interestingly enough, the study proves the agile way of doing bsiness and inventing products in the future. Those compannies that are igitally maturing organizations are more open to taking risks than the laggards. Over 50% of those laggards fear the risk as a major shortcoming. Embracing failure as a „prerequisite of success“ seems to become the new standard if companies want o be innovative and fast in driving digital transformation.
Not surprisingly, the maturing organizations are nearly twice as likely as less digitally mature entities to have a single person or group leading digital transformation process. The fluency of these leading digital companies is highly appreciated by employees – but it is not based on technology. Translating the capabilities of technology into value creation is much more challenging for companies but delivering the value that digital transformation needs. And leaders seem to (90%) understand the technology according to their employees.
The main message of the study for us was that leaders (70%) encourage their employees to innovate with digital technologies. Now, the study does not tell the readers how the managers are empowering their employees, in which way they provide motivation or technological ways to do so (which as we know ist he masterclass that most managers have not visited yet), and how much they have succeeded with their approach. In the last years, we have learned that most companies are exactly on that spot blank. Defining the ambition, delivering creative concepts, leveraging the sustainability of the concept, and finding the right processes was often the biggest effort in our projects for companies.
One of the latest reports around social media tells us that measuring ROI (60%) is still the most challenging aspect for marketers when facing all their social media efforts. This is the main message from a report by Simply Measured and TrustRadius.
The findings that are based on some survey data from almost 600 social media practitioners between February and March 2015 also show that other top challenges are tying social activities to business outcomes (50%), developing a social media strategy (48%), and securing enough internal resources (40%).
Although the main message is clear, there are some small variances between company sizes when separated int small businesses (1-50 employees), midsize companies (51-1,000 employees), and enterprises (more than 1,000 employees). While smaller companies struggle setting up and developing their own social media strategy, enterprises are trying to secure enough internal resources to master their social media efforts.
The integration of social media into the overall business is also a big way to go obviously. First of all is the alignment of social media goals with the overall business goals not fully connected. But even more challenging is the question whether all the efforts generate some business impact. Many marketers are working intensely with data and analytics to optimize their marketing strategies but the proof seems not yet been given.
Maybe this is all based on the missing tool strategy, which is also one of the major findings of the report (not surprisingly based on study makers). How to manage and measure social media activities, is often not a question of whether companies know the tools but still they are predominantly sourcing the monitoring out for example, and then wonder why data gets not interpreted properly. Also, some are not happy with their tool choice.
The findings are not surprising when the targets from all three company sizes is brand awareness. Still, companies should be able to better understand KPIs in the social selling process. It seems that companies and brands still have not yet understood the value of a friend, follower, LIKE, share or a comment. Furthermore, they still do not have the opportunity to link their data findings and their social media engagement back to some CRM database in order to leverage data sets around their customers. Furthermore, the missing social sales strategy combined with a clear lead processing and management is essential, and most companies do not have an answer here. Obviously, a lot of support in the social media set-up is still appreciated.
Not? Then tell us what you think…
A recent study 2015 Content Marketing Survey by content marketing agency Castleford states that the amount of marketers committed to content marketing is increasing. According to their results 65% (compared to 48% one year ago) of marketers want to boost their content marketing next financial year. Their plans is to invest more in time and resources.
Even more, 97% of participants of the survey said they will increase or retain their current level of investment. And the respondents also face the support of their C-level executives. Of the responding marketers 76% replied their C-level executives viewed content marketing „quite positively“ or „very positively“.
Obviously, there are also some challenges involved in content marketing creation wit time (45%) and budget (29%) being the biggest problem. Just, 3% that mentioned their C-level buy-in is their biggest challenge to content marketing will be probably persuaded over time, we think.
In terms of content marketing tactics the study shows that social media (81%) is still the favorite online marketing tactics in this field. However, the biggest growth opportunity shows video marketing and paid promotion of content for the next year. 61% are already using video marketing, (increase of 13% compared to last year). This is probably also driven by the main players Facebook and Google.
The variety of content marketing is also growing though. Almost every second marketer said that they use five or more different online marketing channels (45%).
Although Castleford director Rob Cleeve is confident with the development of content marketing, he also makes clear that marketers need to deliver results with it as well: „In my experience, content marketing is claiming an increasingly large share of overall marketing budgets, which is going to mean more pressure to show how it’s benefiting the bottom line.“
Content marketing definitely has changed the advertising industry drastically. However, the main challenges involved are the appropriate use of data with content to drive the right story in the right context to the right user at the right time. Here we see massive problems for many marketers still in our work with customers. Post-it recently explained it nicely in a video that leverages their banner and ask many question in terms of how retargeting actually kills good content marketing in terms in the example of banner ads.
The infographic of the study carries all relevant results of the Castleford study.
In many posts have we written about the relevance of influencer marketing and how it differs from the value of brand advocates. Today, many marketing organizations and brands have understood the power of influencer marketing and dedicate a significant amount of their budget to them. And there are good reason for it which we can see from one of the latest infographics in the market provided by the guys from The Shelf.
Shoppers trust in influencers and use them as their third-most-consulted consumer decision information source. Although brand and retail sites are still in the lead as an information source. Blogs already come in right after them, even ranking higher than well-trusted social networks like Facebook, YouTube, Pinterest, Twitter and Instagram.
Years ago, we have made clear that the 3 Rs of the social consumer will be leading the decision making process in the future: ratings, reviews and recommendations. The infographic is another proof for our thesis those days. These days, influencer are more trusted than brand content where recommendations have got the biggest power with 92% of consumers trusting in those. Reviews have become the second most trusted source (70%). People also try to stay on top of thought leaderwith blog content that is consulted by 47%.
Although the opportunities are there, only two out of three marketers (65%) invest in influencer marketing so far. and every second company separates their budgets for sponsored social content from other budgets (52%). Still, the amount of investment is not „nickles and dimes“ anymore for brands and companies. Every fourth company already spends over $500,000 already.
Why influencers play an important role inside your content strategy is obvious. They can explain products from various subjective and objective angles. They can play an important role in your community management when negative input needs tob e turned into positive arguments. They can have a big impact in your content production strategy in having an external view on your business and relevance in the market, and thus become your „search-engine-optimizers“. And, they will play a significant role in your sales approach if you take your time to think about it (or maybe talk to us if you don’t have an answer).
Have a look at the infographic and decide yourself if and how you would like to use influencer marketing in the future.
Even some years ago, I did not really detect the value of hashtags – however it was the days when only Twitter used hashtags. Nowadays, there are still not many people able to detect the secrets and the power of hashtags in the social web world. And probably the majority of marketers still wonders if they cannot leave out the hashtags in order to make the posts more readable.
Hashtags offer a lot of benefits if you use it properly – to be searchable, to be findable, to be categorizable, to follow, to monitor as a brand, a service or a person. Hashtags are not a Twitter thing any longer: Facebook, Instagram, Google+, Google search, and various other platforms also make use of the „computer-cross“ as one of our clients called it the other day in a workshop we did with them.
As (social) marketing campaigns are measured on engagements, it is fair to say that hashtags in campaigns are boosting engagement by up to 50%. Working with two hashtags seems to be the golden secret as more hashtags will kill the „boost-engine“. Still… Maybe not always though. Instagram posts with 11+ hashtags even showed the highest number of engagements. And on facebook you might also not use hashtags at all as those were most successful.
PS: If you do not know how to use hashtags, maybe check out this latest advice from Terri Seymour.
Please find the latest insights put together in an infographic by Surepayroll.