State of Marketing 2014 Report: Social Media and Video Ads up, Mobile down, Programmatic low at 1%

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Compared to some previous study, this years CMO Council’s “State of Marketing” (sponsored by NetBase and Infor) shows that confidence to be a trusted source for the C-level is back with marketers. The online study that asked 525 global marketers in the first quarter 2014 shows that 69% of senior marketers see themselves as a trusted, strategic member of the C-suite and/or are increasing their credibility with the main business decision makers inside their companies. Furthermore, 81% of senior marketers responded that they’re confident to meet management expectations and goals for top-line revenue growth and market share in the next 12 months.

“The level of confidence and optimism is very high. We are seeing the CMO role being elevated to a much larger degree.” Donovan Neale-May, Executive Director, CMO Council

From a budget perspective, the main areas of marketing spending growth for this year will be social advertising (71%), online video (71%), social engagement campaigns (69%), retargeting (67%) and search engine marketing (66%). However, mobile will go down in the attention of marketing spendings this year. Only 62% said they plan to increases and just 25% project increases of over 5% for 2014. 45% said they expect no change for mobile banners. The report makes no commments on reasons for this stagnating mobile budget growth. In general, 54% of marketers plan to increase their marketing budgets over the next 12 months, 27% will keep budgets stable. The most funding will go into new products and program launches (54%), corporate branding and identity building (53%), lead generation and qualification (50%), and customer retention and monetization (44%).

State of Marketing 2014 What tactics is most effective

When asked to identify where marketers will allocate marketing budget across

From an operational and process point of view 12% of the responding marketers said they will invest in product marketing, 12% said in strategy and branding, almost 7% in marketing and planning, 7% in sales and lead management, and 5% in market research, among other areas. It seems that programmatic buying has still not reached the marketing department. Only 1% sees programmatic advertising technology systems an interesting topic to invest in. Maybe they just do not have the right arguments for their C-Suite on programmatic yet.

The senior management expects from their CMOs over the next 12 months to drive top-line growth (56%), grow or retain market share (52%), better define the brand and value proposition (44%), and further customer insights and analytics (37%). As the leading areas of responsibility the marketers see for themselves strategic planning and forecasting (74%), branding (71%), digital (68%), budgeting and mix modeling (68%) and market research (67%). from a C-level perspective the marketers state that their main tasks from the business leaders are driving top-line growth (56%); growing or retaining market share (52%); better defining the brand and value proposition (44%); and furthering customer insights and analytics (37%).

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The challenge for marketers as of the cloud technology evolution is to connect with other departments inside the company. Interesting to see from the report to which people marketers are reaching out these days for partnerships. The marketers responded that the CFO (58%), CIO (53%) and chief sales officer (51%) are their main three touchpoints inside the organization to form partnerships with.

State of Marketing 2014 Collaboration

The report also states that 55% of marketers want to hire in 2014. Their main focus of reecruiting people or getting knowledge will be on customer analytics (40%), social media (36%) and content development (27%). Interestingly enough, a trend that we also experience with our clients is that B2B marketers (60%) are very active finding new staff. Their main interest is in people on topics like customer analytics (33%), product marketing support (33%), content development (32%) and social media (32%).

“Stream me up, Scotty!” – Viacom study shows streaming is the new black

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Credit: © XtravaganT - Fotolia.com

Credit: © XtravaganT – Fotolia.com

Scotty’s world is gone. Today’s future is not “beam me up”, but “stream me up”. At least when it comes to listening to music. The Viacom music group, consisting of CMT, MTV and VH1, published some summary results which prove that teenagers and adults up to age 40 consume music in a streaming mode.

In a quantitative study with 1,200 respondents, which also included some qualitative secondary research and some new form of “blography” component, it made clear that streaming has become a mainstream behavior. Almost four out of five (78%) participants of the survey had streamed music in the past three months. The streaming habit on the way to purchase is most often (91%) a form of auditioning music before buying it – especially YouTube has an important role in this process.

The age group of 22-30 year olds is even more active than their older and younger counterparts. Streaming music has become a daily habit for them (63% do it daily). As the group sample was taken from their target audience, it might be a reason that this result is even higher than in usual user studies.

The young generation of “streamers” listens to radio as an important source of information to this group. However, the study credited broadcast and the Internet as sources of music discovery. Interestingly enough the study states that the act of listening seems to be passive. User do not seek to find their music, it basically comes to them. It could be a prove that the music industry has understood how to use big data to favor the music taste of their users.

Obviously, TV is another major discovery platform for this generation. 88% of respondents mentioned that they searched for songs on TV shows next to listening to them. This could become another important opportunity for track-identification mobile apps (like i.e. Shazam).

The path from discovery to purchase (which in this study can mean several things, including “streaming it incessantly”) is interestingly charted. The role of streaming in that path is often a form of auditioning music before buying, according to 91% of participants, who use YouTube for that purpose.

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Not surprisingly, the respondents state that downloading music via P2P networks is not popular for them (60% see it as “risky” or “wrong”). Still, this does not mean that the idea is completely gone from their minds. Sharing music data with friends via DropBox or other sharing platforms is a common practice for music fans. However, if 81% of participants believe this is a support to bands they admire can be doubted. Maybe the music fans haven’t quite understood how their bands make money. It probably “beams up” the bands relevance and popularity more if 63% of fans follow artists on Facebook and share the bands’ news in their personal networks.

Website Experience: Consumers rate performance most, content second

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The common understanding in marketing teams is that content is key to meet the expectations of consumer. However, this might be right, most US consumers (52%) see high performance as the main quality feature of a website, according to a recent report from Limelight Networks.

The report that surveyed 1,115 consumers valued website performance (streaming with no buffering, pages that load quickly, and so on) as the most important digital experience feature. It also states that performance comes before fresh and updated content, delivering a consistent experience on mobile and desktop, and providing personalized content.

Performance is Key to Websites

The respondents also make clear that they (59%) will wait less than five seconds for a webpage to load before being frustrated and leaving the site. Even more, more than one in three (37%) stated to leave and buy a product from a competitor if a website is slow.

The mobile experience is also becoming more critical for marketers. When 85% accessing a website with a mobile device at least some of the time, and 50% of the surveyed people do so with either a smartphone or a tablet most of the time, it shows that mobile customer experience needs to be thought about carefully. However, the good signs are that almost half of the users (44%) are more generous in terms of waiting for website response when accessing websites via mobile devices but the trend is to see fast downloads as well on mobile and desktop.

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The report illustrates the connection between brand and website experience: 82% of consumers recommend a brand after a positive website visit.

Website Performance leads to Recommendation

However, marketers might think about personalization with the use of smart data now, the report also warns that more than one in three users (38%) do not want websites to remember their previous website visits. The website experience remains a business challenge “Businesses need to educate themselves on the challenges and intricacies of delivering a high performance digital experience to ensure hidden latency issues don’t disrupt a user’s interaction with the brand,” summarizes the report.

Companies monetizing the Internet of Things (Infographic)

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Many companies and brands are thinking about ways on how to embrace the Internet of Things (IoT) in connecting devices to cloud products and services. Whether it’s cars, switches or home appliances, the IoT will change the world we are living in but also give us opportunities to ease our daily life. IDC estimates that internet of things market has already a volume of $1.9 trillion dollars -and in 2020 8,9 trillion US dollars- based on some research they have done recently.

Now, the guys at AriaSystems have created an interesting infographic showcasing products and services which companies have created, and how they already make money with the Internet of Things.

Iot_Infographic

Social Network Leaders for Business

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Adobe’s CMO.com did a great job in summarizing the leading social networks for business in one nice infographic alongside their CMO Guide to The Social Landscape. The marketing technology company checked each of the platforms according to four criteria: brand awareness, customer communication, SEO and traffic generation.

Obviously and not surprising, the leading platforms are Twitter, Facebook, LinkedIn and YouTube. From our experience not all marketers are aware of the importance to change the contents for each platform and not just run them in different timings. The target-groups on the various platforms may be quite different, thus their interests in content and context as well as their wants and needs might vary extremely – although they might be the same people sometimes.

YouTube will probably become the leading platform when the whole world is more driven by Millennials and their input. Although you might be thinking about funny videos, going viral now, most of the business content can be manuals, employer branding stuff, or even product explanation videos. The opportunities are massive and it is time for marketers to realize.

In the B2B space, Slideshare might be a new platform for marketers. The chances are big here as well, as companies and brands get the option to show presentations from various standpoints. Especially, if the company is addressing different stakeholders in a purchase process, it is sometimes good to open up some thoughts before the meeting, so stakeholders can prepare. And, how often did presentations before meetings not go through as of company email file restrictions…?!

Obviously, Google+, Instagram, Pinterest play a role from a corporate brand perspective. And Google+ especially from a SEO and content marketing point of view. However, we are still at the beginning and every case needs to be evaluated on its own.

Any important platform you are missing in the top 8 social networks?

CMO_Social_Landscape_2014

What makes a great brand? (SlideShare)

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The team at We Are Social have created an interesting presentation on “What Makes A Great Brand”. However, I can already hear some of you social geeks saying, moaning and arguing what is missing in the slides and what you could better, maybe start reading and thinking about it first, and then try to find some more brands that have changed the way customer perceive brands today.

The slideshare presentation comes from a a project done in cooperation between We Are Social and The World Federation of Advertisers on Project Reconnect. This initiative was created to understand brands with a deeper meaning by listening to what people really want from brands and advertising. The idea behind it was to align marketers practice and customer expectations. Viewers get to know insights made while talking with marketers about inspiring marketing trends and approaches.

What Makes A Great Brand? from We Are Social Singapore

2020: What will be the 10 most important business skills (Infographic)

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It’s hard to look into the future, or claim how the workplace could look like in 2020. And that in mind, although I get invites to different event looking years ahead and telling us, which technology will rock, which cloud model will be staring, and how friendships might die as of millennials heading towards a straight career, and forgetting the working colleagues, they have held close for years.

Still, certain drivers of change become more and more obvious. With the increasing advent of mobile and cloud systems in companies, some smart machines, sensors and systems will replace workload from people, and probably also erase some job profiles. And automation will organize a lot of processes that will connect the world around us.

What I see from our consulting business already today is that “sense making” and “social intelligence” has still often not found it’s way towards board rooms. Sometimes this is based on the missing people, sometimes just it’s a matter of traditional management methods that block the change process as of company or personal politics.

Furthermore, I can see that “virtual collaboration” is desired in many companies. Still, the culture of training and changing the mindset as a basis for this capability gets not the right support and budgets from top management. Finally, “cognitive load management”, the challenge to filter information from importance, was an approach I thought of in my vision of the Personal Web Manager some years ago. It will come, I am sure…!

The guys at Top Ten Online Colleges have create an infographic which summarizes the top 10 business skills for 2020. Have a look and tell us what you think!

2020-Top-Business-Skills

Study: Millennials value workplace friendships but sacrifice them for their benefit

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Credits: Gerd Altmann  / pixelio.de

Credits: Gerd Altmann / pixelio.de

A friendship is not a friendship, when it comes to moving on with your career – at least for millennials. A recent study published by LinkedIn this week shows that millennials believe in friendships at work boosting happiness, motivation, and productivity. However, friendship has an end and makes millennials competitive when it comes to career promotions.

The report states that 27% of the respondents think that workplace friendships boost their job performance. The negative part is that it also makes them more ambitious. Those millennials (68%) would even sacrifice a workplace friendship to get a promotion. The majority of millennials (3 in 5) believe that socializing with coworkers improves their workplace, and every third millennials thinks it will advance their career. Interestingly enough, almost every second millennial states that they would even discuss their salary with coworkers.

The results show quite a big difference to the Baby Boomers where almost the same percentage would never dare to have such a thought. From those workers at the age of 55-65, almost half of them even think a friendship with their coworkers had no effect on their professional performance in any way. Talking about salaries? Only 23% of baby boomers would think about it (and probably not do it).

The study shows that millennials are more open to talk about their very personal business situations like compensation and benefits with their millennial counterparts. Millennials are even heading for those informations instead of showing understatement and not disclosing any information about their personal salary conditions like the baby boomers do. Management should be coaching millennials here, and making sure that they give them insights in why it would be better not being too open with their coworkers.

Don’t limit conversations to only email or formal meetings. Take a walking meeting! Walking meetings are part of LinkedIn’s culture, and they are popular because people tend to relax during a walk, which allows for a more open and creative discussion. Plus, not having a phone or computer interrupt you every second, allows you to be more focused on the person you are talking to, and ultimately more connected.

Take an interest in the personal. While you may not want to give relationship advice, you should have an interest in your teammates as people. Take a few minutes during every one-on-one meeting to connect on a personal level. If your colleague always jets out with their yoga mat, ask them about it! Work is only a part of who we are; if you get to know people’s other passions, it may give you a glimpse into what motivates them.

Congratulate, share and like! A simple gesture on LinkedIn can do wonders for employee morale. Think how great it feels to get “a job well-done” email from your boss, and then imagine having the same recognition shared with your network. It feels great to get acknowledged for your hard work, and by sharing it publicly, you also help to build your professional brand.

The study shows that millennials are more open to talk about their very personal business situations like compensation and benefits with their millennial counterparts. Millennials are even heading for those informations instead of showing understatement and not disclosing any information about their personal salary conditions like the baby boomers do. Management should be coaching millennials here, and making sure that they give them insights in why it would be better not being too open with their coworkers.

How do you manage the millennial workforce in your company? Are they also as open as described in this study?

Relationships @ Work from LinkedIn

The YouTube revenues (and more) in a minute (Infographic)

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The guys at YouTube Downloader Blog have created a very interesting infographic. Where they have recently explained why Saudi Arabians are the most engaged YouTube viewers in the world, this new infographic shows us the YouTube world in one minute in order to reveal what happens during 60-seconds on the world’s leading video sharing site.

The infographic shows the amount of video uploaded to YouTube each minute and gives insights in the ad revenue that the site’s top channels generate in that minute. Thus, we get to know that PewDiePie earns more than $13 a minute.

According to the infographic, YouTube generates more than $10,000 in revenue per minute. A figure that is base on the site’s estimated annual revenue of $5.6 billion, which means over $14 million of revenue each day.

Youtube-In-A-Minute

The (Mighty) Future of Selfies

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When you think a “selfie” is nothing but a “selfie” (meaning a photo of yourself), then you are still living in the past. The future of the selfie is already here – in various forms. You just need to know where to find the next evolution step, how to make it, and see who can assist your efforts. And even if you want to take it to extremes. There are all sorts of selfies ahead.

Although, I have to admit I have taken some selfies lately, I had decided to leave it from now as of bad (or mad) output. However, maybe I just need to go to the DELL Center for Selfie Improvement. No joke! Well. Maybe.

Dell is always good at jumping on the latest trends in the world of social and sharing. Their new “Center for Selfie Improvement” is meant to help people optimize (if not perfect) the art of the selfie. People shall be trained using different techniques handed down from the very original selfie taker. How this works is explained in this video and on their Tumblr website.

Some people might say “selfies” are just for people with mega egos. Now, if you are a person of that sort, this winning Cannes Lions Innovation Grand Prix might make you happy. It’s a mega Kinetic installation which enabled people to create massive 3D selfies. The installation can transform in three dimensions. It recreate a selfie face from visitors to Khan’s pavilion. The Khan’s building was a 2,000 m2 cube placed in the Olympic Park in Sochi during the 2014 Olympic Games.

MegaFaces: Kinetic Facade Shows Giant 3D ‘Selfies’ from iart on Vimeo.

And if you are living in Sweden or Australia, you might not even want to use the release button from your camera or your smartphone any more for your selfie. Just get the latest app from the guys at Crunchfish then. With their GoCam app (just Apple yet) you can take a selfie with their touchless-A3D-software. Simply raise your hand to “push” the release button.

The future of the “selfie” is weird, unimportant and funny. Well, it just reflects the nature of a selfie, right?

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