All brands and companies wonder how to market to different generations on social media platforms. Marketers see great opportunities in reach and relevance in terms of the content, the data and the insights around consumers and customers. No wonder, as there are over 2.3 billion active social media users globally across various platforms. Almost 9 out of 10 Millennials (87%) are connected with brands and their families and friends via social networking.
Although the social channels are becoming more and more a paid media, the most important message to all marketers will be to listen to their customers and to engage when they are active in their social worlds. In which way a brand is then capable of personalizing and individualizing messages and content is on a different page. So, it will always stay a balance between paid and organic content that brands need to deliver to their customers.
However, the main challenge is to understand on which platform which target group wants to be addressed in which way. What kind of content do you need? How do these people engage? And why for brands Twitter or Instagram might make more sense than Facebook and Pinterest in talking to some of the generations.
Check out the infographic by Webpage FX and get some interesting insights in audiences on major platforms. BTW: It’s a shame that LinkedIn often gets forgotten in these overviews…
The popularity of messaging apps is increasing. Whether it is the Facebook Messenger where all companies hope for the latest secret sauce on messenger bot technology or Line and WeChat which already offer company profiles. It becomes very clear that messengers are different in terms of functionality, technology set-up as well as the value for brands and companies. Very often in seminar that we hold these days, messengers get mixed up with social networks, and the functionality is not very much clear to marketers. Understanding the differences and the opportunities for brands has become really challenging for them. And knowing which messenger apps are used in which countries and regions will make the lives of marketers easier.
Therefore, the team at Forrester has created a report called „The Future of Messaging Apps„. The report offers a simple overview of the most important facts around messaging apps, user figures and above all summarizes the opportunities for companies as Marketingland summarizes it. And although the world and marketers get mad around Snapchat, the overview states that seven out of ten leading apps got more users than the „yellow messenger“, and also Viber, Kik and Line get more ground and challenge other platforms like Skype which was leading not so many years ago.
The evolution of messengers for brands is interesting to have a closer look at. Unsurprisingly, Asian messengers are leading. WeChat already has got some 10 Mio. company profiles, and even Line has got 2 Mio. of those already. Although Line is not familiar to many brands, they have turned around 1,1 Mrd. USD already ($ 224 Mio. via Stickers which seems to be a good monetization strategy). The messengers Kik (also offering ad opportunities for brands) and Telegram started their own Messenger Bots. On the other side, we realize that WhatsApp is starting to approach companies these days to elaborate on business requirements. So, it will be interesting to see what kind of brand solutions they are coming up with in the future.
Please find the overview in a graphic as follows…
Pokemon Go is in everybody mouth these days. And many marketers are asking how to leverage the mobile app game for their business purpose – especially small and local businesses.
Just lately, the team from Slant Marketing came up with some data that shows how businesses can use Pokemon Go players for their own business – and if it is only food traffic from players that still realize the world around them.
The survey of Pokemon Go players shows that an incredible figure of 82% of those mobile players have come to visit a business when playing the game. Business that managed to „lure“ players in their shops were lucky. Quite a significant number of those players stayed at that particular business longer than others.
The research data also reveals that Pokemon Go players behave like nomads. Over half surveyed (51%) answered they it was their first time that they visited the shop or business when using the app. So, Pokemon Go can become a real lead generator if used properly.
According to the data, almost three out of four Pokemon Go players (71%) replied they came in the local store as it was close to a PokeStop or Gym. Meaning that locations stored in the game attract players to come in the stores, very often these shops were small local businesses.
But the results of the Pokemon Go players also show a great opportunity of local business compared to the national chain stores. The study states that more than one in two players (56%) visited a local business when playing Pokemon Go. So, just the chance of catching some creature of the Pokemon Go game makes people come to the local stores.
We are sure that Pokemon Go is just one of those new game trends that mix real and virtual worlds in a mobile app or device. And that it is only a trend can be seen in the development of the app stores that have taken away the leading position of the mobile game in app stores lately as of poor monetization. Still, augmented and virtual reality opportunities for businesses have just started, and especially local stores should pay attention to mobile opportunities like Snapchat, Instagram or Pokemon Go.
The infographic of the Pokemon Go user study can be found here…
According to the study of Harris Poll (conducted on behalf of Lithium Technologies), that addressed more than 2,300 consumers of all generations, more than half of all digital natives (56%) report to cut back or stop the use of social media platforms entirely.
Even more, 75% of the responding Millenials stated that they feel stalked by brands on social platforms. The reason: The eager way brands do target them in their news feed with the ambition to build trust and loyalty with their customers or consumers via social media platforms in the U.S.
So, what does this mean for brands? Do brands have to live according to a transformed version of the former cold call prevention: „Don’t stalk us, we follow you!“? The study suggests that direct targeting on social platforms via advertising might result in losing customers. It would be more effective to engage and to be present on the channels they use frequently. And also if brands might be tempted to leverage the huge purchasing power coming from the modern generations (Millennials and Gen Z make up 50% of the population), brands need to be careful not to waste the potential of social media and really meet their personal expectations. How challenging this might be in the end…
„The promise of social technologies has always been about connecting people, not shouting at them, and the brands that don’t do this risk their very existence.“ Rob Tarkoff, President&CEO, Lithium Technologies.
But how can brands build trust, the study also asked? A question that is also raised in a bi-annual study from Nielsen and might be evaluated in comparison with those results. Obviously, online is their general source of information but their trust in online exceeds that of former generations by far.
While in the Nielsen study, personal „recommendations from people I know“ are leading, Lithium sees „online sites with product reviews“ as the highest form of online trust creation. That websites are definitely not „dead“ can be seen that both studies see websites kind of in the second place. And, whereas Lithium sees „communities of like-minded people“ in the third place (just think about what their main product was…), Nielsen sees editorial content still a very important source.
In terms of service, the Lithium study shows that Millennials contact brands online (79%) and expect a response back within the same day – almost 10% more than Baby Boomers. So, if brands do not actively monitor and engage with the younger generations online, their brand loyalty might go down soon. The best way to interact with Millennials is described in a quote the study also delivers…
„I go on social media to see and know what my friends are doing. I don’t want to see ads clutter my news feed. If I’m interested in a product or service, I know where to look. Social media is a place for us to connect with our friends, not be attacked by advertisements.“ Mallory Benham, Graduate Student (23)
So, what are your learning on targeting Millennials and Gen Z via ads on social media?
Now, another report from Schneider Electric called „IoT 2020 Business Report“ delivers some new findings on how large organisations will leverage Internet of Things technologies as a serious business tool by 2020. Their study is based on feedback by 3,000 business leaders from twelve countries.
According to their global survey, 75% of respondents were optimistic about the opportunities IoT presents this year. Almost every second out of three (63%) companies use IoT to improve their customer experience and analyze customer behaviour in 2016. They hope to solve problems faster, achieve better customer service and customer satisfaction ranking.
Furthermore, cost savings in automation seem to be high on the agenda, above all building (63%) and industrial automation (62%). As results showed the improvements in automation technologies almost half of the companies (42%) say they want to implement IoT-enabled building automation systems within the next two years.
The key driver for IoT is mobile for two out of three companies (67%). Thus, they plan to implement IoT via mobile applications this year, and 32% even in the next six months. Again, cost savings of up to 59% is the major driver for IoT implementation.
The confidence is the value of knowledge gathering and sharing already exists inside most companies surveyed. 81% feel that the data and/or information generated by the IoT is being shared effectively throughout the organisation. Fears are lower than expected. Only 41% of respondents connect cybersecurity threats with IoT business challenges.
„We’re past the point of questioning whether IoT will deliver value. Businesses now need to make informed decisions to position themselves to maximise IoT’s value in their organisation.“ Dr. Prith Banerjee, Chief Technology Officer, Schneider Electric
However, Schneider Electric does not only publish numbers of their study but also provides the following predictions that business leaders might take into consideration.
1. The next wave of digital transformation.
IoT will bring operational technology (OT) and IT together while fueling a mobile and digitally enabled workforce: As more companies both expand and deepen their digitisation programmes enterprise-wide, IoT will increasingly take centre stage. This new wave of transformation will be enabled by more affordable “connected” sensors, embedded intelligence and control, faster and more ubiquitous communications networks, cloud infrastructure, and advanced data-analytics capabilities.
2. Insightful data.
IoT will translate previously untapped data into insights that enable enterprises to take the customer experience to the next level: When thinking about the value proposition of IoT, most businesses point to efficiency and cost savings as the key benefits. Yet access to data – including previously untapped data – and the ability to translate it into actionable insights, the hallmark of IoT, will deliver greater customer-service transformation and new opportunities to build brand/service loyalty and satisfaction.
3. Premise-to-cloud confidence.
The IoT will promote an open, interoperable and hybrid computing approach, and it will foster industry and government collaboration on global architecture standards that address cybersecurity concerns: While cloud-based IoT solutions will grow in popularity, no single computing architecture will monopolise their delivery. IoT instead will flourish across systems, both at the edge and on premise, as part of private cloud or public cloud offerings. Making IoT available across heterogeneous computing environments will help end users adopt IoT solutions in the way that best suits their security and mission-critical needs while also offering entities with legacy technology infrastructures a logical and manageable path forward, allowing them to transform over time.
4. Innovations that leapfrog existing infrastructure.
IoT will function as a source of innovation, business model disruption and economic growth for businesses, governments and emerging economies: Just as the Industrial Revolution, birth of the Internet and mobile revolution have driven advancement, innovation and prosperity, so will IoT. Businesses and cities alike will deliver new IoT-enabled services; new business models will emerge; and, in particular emerging economies will have a significant opportunity to quickly leverage IoT without the constraint of legacy infrastructure, essentially leapfrogging old ways. In fact, McKinsey forecasts that 40 percent of the worldwide market for IoT solutions will be generated by developing countries.
5. A better planet.
IoT solutions will be leveraged to address major societal and environmental issues: IoT will help countries and their economies respond to the biggest challenges facing our planet, including global warming, water scarcity and pollution. In fact, survey respondents identified improved resource utilisation as the number one benefit of IoT to society as a whole. In concert with the private sector, local and national governments will embrace IoT to accelerate and optimise current initiatives to curtail greenhouse gas emissions in accord with the breakthrough COP21 climate agreement, whereby 196 countries pledged to keep global warming under the threshold of two degrees celsius.
The Internet of Things has been seen as the main revolution from a technology perspective. The hype seems to be at an all-time high. Real business value is not only saving money though. Customer service improvements, better process optimization and smarter work and life opportunities will have big potential to bring IoT business value to enterprises in the future.
What is your experience on the value of IoT for your business?
Social selling is a team sport
The sales team impacts all departments of an organization, including client success, product and IT. But arguably the place where sales – and social selling – has the greatest influence is on the marketing team. And vice versa.
According to Sirius Decisions, 58% of marketing and sales teams say they are seriously misaligned. Some of the repercussions of a sales-marketing duo with no alignment? Lost leads, bad content and blind decision-making.
Sales and marketing teams need to get on the same page to ensure efforts aren’t going to waste (and feelings aren’t getting hurt). To be successful, sales and marketing must focus on 3 key aspects of a strong social selling initiative:
A crucial aspect of social selling is the sales professional’s ability to provide valuable content – articles, white papers, videos, podcasts and more – to prospects in their network. Misaligned marketing departments can spend time and resources creating content for sales, but it is useless if the content doesn’t meet the needs of the prospect or if sales can’t even find it.
How do you fix it? By understanding the buyer’s journey, sales and marketing can together determine what types of content fit best for prospects at different levels of the funnel. Then, marketing can curate a database of content that is easily accessible and relevant for salespeople to use throughout their process.
Implementing a well-run social selling program provides the sales organization a predictive, guided approach to everyday sales. In an environment where nearly 60% of the B2B buying process is done by the prospect before they ever speak to sales, reps need guidance on how, when, and where to connect on social networks. Marketing and sales need to understand and agree on their buyer persona so marketing can provide the resources that will guide sales to success.
How do you fix it? For social selling to become part of a sales professional’s everyday process, it must be easy for them to identify the best way to engage with prospects online. Marketing and sales must collaborate to identify the ways in which their buyers navigate the buying process. This enables marketing to develop relevant campaigns and channels for sales to leverage in their social selling practices, resulting in the most important aspect of all…
Too often, misaligned sales and marketing teams hurt themselves and end up doing more work when they let good leads slip through the cracks. Whether it’s marketing campaigns missing the mark on the right buyer, or sales failing to follow up on solid marketing leads, it’s a lose-lose situation.
How do you fix it? First and foremost, clearly define what each team will commit to accomplishing in order to support each other. As the saying goes: Build the social selling process, and the leads will come. When marketing provides sales the resources and tools to become problem-solving thought leaders in their networks, everyone wins.
„Never leave Social media to marketing alone. Marketing spreads the brand and product messages. Sales plants conversations, seeds solutions and harvests on needs.“ (Martin Meyer-Gossner on Social Selling)
This is a guest blog post by PeopleLinx CEO Kevin O’Nell. PeopleLinx helps B2B enterprise sales teams activate socialselling with individualized guidance.
They blog from the first row at catwalks. They share cool design gadgets on Instagram. They strike a pose with a selfie in front of 5-star hotels on Pinterest. And, they record „Let’s plays“ for Youtube while testing the latest computer games. The one thing they have in common? They are online influencers. A digital species that challenges and changes the marketing world of models, testimonials and the publishing industry.
According to an annual Nielsen study, it is a common knowledge that people trust most in recommendations of people they know. In the past, marketers put models or celebrities in this „recommendation seat“. It was meant to address two benefits: Brands intended to grasp some of the consumers’ attention by trying to hitch-hike on the wave of VIP awareness and public relevance. And, they used the reach of magazines and the trust those public voices had for the people.
It seems to me that the tables are turning now, and marketers have to rethink their brand extension strategy.
1. Models – the personalization dilemma
When using models, brands couldn’t tell exactly which audience they were addressing. It was a marketers’ and model agent’s best guess which model fits which brand. However, a model does not have a transparent target-group. They are just faces without any open address books or lead list.
Social influencers are their own agents. Their content markets their personality, their personality defines their content, their reach expresses their quality. They have got fans, followers, and friends that everybody (not only when following them) can see. A clear defined and dynamic target-group that is commited to them and engages with them on a regular basis. What they say gets read. What they state is trusted. In fact, their consumer opinion becomes one of the most trusted sources that people believe in – more than traditional ads of any kind.
Just imagine the influence on purchase intent, when an influencer is posting online to a large audience of friends and fans. Social influencers are perceived of their active and growing audiences as „more real“ than models, somehow even as „friends“.
But also the traditional model business is affected by the upcoming influencer trend: Previously interchangeable and relatively anonymous faces are now increasingly becoming personal brands thanks to their personalized Instagram and Snapchat channels and/or (mostly fashion- and beauty related) blogposts. Consequently, numerous models with significant reach are also acting as influencers to their audiences.
2. Testimonials – the authenticity dilemma
Testimonials need to match brand authenticity and follow the brand message in order to become valuable for marketers. Serious investment in dollars does not allow a testimonial’s mistake. Contracts are long-term and include testimonial involvement not only in all brand campaigns but also in personal PR and marketing engagement during the contracting period.
Money counts for testimonials – as much as monetary rewards do for online influencers. This is definitely true for the fashion and beauty industry, states the „Fashion & Beauty Monitor“ report in partnership with Econsultancy named „The Rise of Influencers„. However, three out of five surveyed influencers believe that the „relevance of brand in relation to own area of expertise „is essential when collaborating with marketers. Influencers are very well aware of their personality as brand that has to be secured and consequently, they do not sell everything just because they are asked to. Of course, this in return means a certain loss of control for marketers when working with powerful influencers. Just to state an example, years ago, I offered MINI a cool opportunity to collaborate with me. I fear the idea never reached the BMW four-cylinder tower – perhaps for fear of losing brand control?
Think about it: How authentic can testimonials be that are selected by brands as of their popularity in sports, fashion and lifestyle? Testimonials sell their media value. On the contrary, engagement with influencers can only work when brands do not act too commercial with them and meet their personal authenticity. Social influencers are personal brands; authentic brands that companies can collaborate with.
3. Publishers – the relevance dilemma
When content from influencers gets more attention (and is trusted more) than content from advertising, relevance becomes a critical tipping point. For years, marketers and PR experts were convinced that „serious“ traditional publishers are more relevant to readers than bloggers or any other form of social media active people. Thus, they invested serious dollars in brand building activities with the publishing industry. Today, these very media houses are approaching influencers to increase their declining media value.
A recent study by Collective Bias shows that content from influencers is viewed for more than 2 minutes (which is 7 times longer than the digital display ad average with a view time of just 19.2 seconds). Plus the relevance of someone’s personal opinion -whether rating, recommendation or review- has become of high value for consumers. Now if content from an influencer is relevant and perceived as being „authentic“ , publishing is facing serious competition in the future.
However, relevance needs to meet relevance both ways. Just putting brand messages into the mouth of online influencers won’t accelerate a brand’s value. In order to become relevant to an influencer and his or her audience, a brand needs to be „love-brand“ in a social influencer’s mind. If not, the influencer will be perceived (and probably also act) like a traditional publishing product without a media-kit.
Solving the dilemma – budget and advertising strategy
The world of testimonials, models and publishing is changing with the rise of influencers.
More and more companies and brands start working with social influencers. I personally doubt that they will completely replace models, testimonials and publishing houses, but the future will tell. However, the world of recommendations will be redefined by a new species.
According to a recent #BrandofMe study, brands invested 1 Bio. USD in 2015 in influencer programs on Instagram only. Influencers earn between 500 and 10.000 USD per Instagram photo or Youtube video – obviously depending on their media reach. Which means that some influencers get paid as much as some publishers for their ad space. A lot of budget that moves away from traditional brand building worlds.
The question is what values more to brands in terms of business impact: tradition or progression. But that question can only be answered when brands understand the power that online influencers can have on and in the sharing economy.
Mobile has become more and more important for sales in the last years. The 2015 Criteo eCommerce Industry Outlook states that mobile’s share of global online sales went up from 23% in the first half of 2014 to 30% in the second half, and will get up to 40% by the end of 2015.
A recent report by Flurry shows that personalization apps (including Android lock-screens to Emoji keyboards) are becoming the fastest growing apps in the mobile industry (332% increase in 2015). News and magazine apps are also growing fast (135% growth) as of a general shift in media consumption from television and PCs to smartphones. Obviously, productivity apps are booming as many people are using their mobile devices as their „primary computing device and their sole device to access email and other productivity apps“.
Now, if you think about a better app experience for your users, you may want to know how your mobile users come to your app, what they want to read and find there, and how they will convert. According to an Targeting Mantra infographic more than every second person (52%) find their apps via friends, family, and colleagues.
Although you might think your company website is one of the promotion places to drive awareness for your app, it becomes clear that just one in four (24%) will find your app there. Furthermore, also search engines are not the secret sauce. Only 27% of consumers will discover apps there.
However, end-to-end customer journey and conversion is still a challenge. While e-commerce apps achieve a 77% install-to-registration rate, the install-to-first-purchase rate is very low (2,1%). The main reason for uninstalling apps is „changes and hangs“ (71%). Still, A/B testing can resolve the loss and make people come back once or twice even if the app was uninstalled (79%).
Although consumers tend to not be interested in your notifications via email too much, notifications are still the engagement drivers and also the main reason why people download your app.
The Internet of Things (IoT) has become on of the most discussed topics in the digital landscape these days. Based on sensors, mechanisms, processes, the cloud and big data sets, companies as well as people try try to rethink how we can better use the Internet for our homes, our cities and the daily business.
We have collected the three most impressive pieces of content that came up lately to give you an overview of the potential and the challenges involved when using IoT.
1. IoT and legislation
A recent post by Cyberlex is discussing in details the approach of the European Union with their „Alliance for Internet of Things Innovation“ (AIOTI) and Digital Agenda for Europe on IoT against the American Federal Trade Commission with their Staff Report on the Internet of Things in order to deriver some logic for a Canadian IoT approach.
While the European guideline makes clear that the future regulations will lie on security, privacy, consumer protection, functioning competition and choice. The American discusses the issues of privacy, security and is trying to give guidance whether legislation is required to regulate the Internet of Things.
2. IoT and Social Media
Over at WT Vox a post is discussing the opportunities and the challenges that the combination of the IoT with social media generates. Although we might be seeing the power of commerce data to understand the mindset of the next customer, there might be more business impact on the image, machine and health data for our future lives when it comes to the value of IoT. However, they make clear that the all deciding question on the future of IoT will be how everybody is handling their „digital persona“ over the next years and whether we open up or step back from giving out personal data to people and companies we have got no idea what, how and why they derive data via smart health, smart home technology or smart city.
Gartner sees a more and more connected world and predicts there will more than 6.4 billion connected devices by the end of 2016. Cisco goes even further and forecasts that by 2020 even 37 billion connected devices will be in the world. McKinsey even estimates that IoT is expected to have an economic impact of $3.9 trillion to $11.1 trillion per year by 2025 (representing up to 11% of the world’s economy).
3. IoT and Investments
The infographic that delivers data by Venture Scanner that we came across via the guys at Appcessories gives some good impression of how much investment goes into the IoT development and in which industry sector most most investments and innovations are produced.
In all of those posts it becomes clear that there is a demand for companies to enable and ensure processes that make people aware of how they use data and technology to understand the consumers development and movement. Furthermore, it is wanted to see a continuous progress in monitoring and improving peoples‘ privacy and security. And finally, the question is whether companies and regulation units need to give clearer guidance and legal advice on compliance and data collecting and processing laws in order not to loose the trust of customers and consumers.
With their annual study called „Mobile Elite“ (2013 and 2014 versions here) CNBC has been focussing in the last two years on how executives use their mobiles for business, and when and how it helps them doing their business more effectively. A survey that is tracking senior business executive’s use of mobile devices across Europe, Asia and the US.
Now, they have come up with their latest update „Mobile Elite 2015“ that more or less global executives have become mobile in terms of reaching a mobile device saturation point. Already more than 9 out of 10 business executives access the mobile web to get the latest business content and news updates via their tablets or smartphones (of which they have in average 6 (!) devices at home). Compared to last year, the access to „news feeds“ has shown the highest growth for smartphones (45% to 60%). Their main time of reading the news is in the morning of weekdays (87%), predominantly with interest in financial news and stock prices (71%). Six in ten business leaders say they access the news via mobiles in the morning.
However, when we think that the weekend is a „news off time“ for business execs, we might prove wrong. More than over six in ten business decision makers check their news and business content over the weekend. It is their time to deep-dive into content as time allows them to. Like last year’s results it becomes clear that as of the mobile options most of the top management does not differentiate between weekday and weekend any longer. Mobiles keeps them in the business all days. Furthermore, the second screen phenomenon can also be seen at business executives. TV might still be their main source of content delivery in the morning (51%), but three out of four (75%) watch TV at the same time as using their mobile device (6% more than in 2014), or maybe on their mobile devices.
„With mobile saturation at an all-time high, we’re now seeing business executives shifting their attentions towards a more connected lifestyle. With a slowdown in hardware innovation in 2015, the survey suggests that global executives are unlocking the potential of their technology to be more connected, more of the time. We could be witnessing the start of the next mobile renaissance.“
Mike Jeanes, Director of Research, EMEA, CNBC
Even more interesting to see is that the Internet-of-Things (IoT) has found their way into the business executives homes. Just about four in ten business leaders operate apps at home via their mobiles. This means that top decision makers become „early drivers“ of technology by the use of mobile devices and wearables. More than every second respondent (54%) claimed to like the idea of hands free technology. This means they do not want to end their mobile journey with smart homes and smart security systems. Still, when it comes to cyber security business leaders are now „extremely concerned“. More than three out of four (82%) value mobile data privacy and security a „concern“, while admitting (41%) it is the most important technological influencer for 2016, followed by cloud technology (35%) and mobile e-commerce (34%).
The study shows that the C-Suite might be fully mobile but also understands and respects the responsibilities it needs to create a sustainable future.
Would you agree?