Obviously, all marketers are ROI-driven – or made to think that way. Not surprising then, the top priority in digital marketing comes to be increasing the conversion rates (47%), followed by increasing/improving brand awareness (46%) and collecting/measuring/using behavior-based data (29%). This is the outcome of the latest study by ExactTarget entitled “2014 State of Marketing”. The report, conducted between October and November 2013, gives insights from over 2,600 global marketers.
Although I would have expected from our conversations with clients that demand generation comes in as one of the top priorities, only 28% of the marketers said acquiring new subscribers, improving channels (24%) and leveraging actionable data is among their main challenges for 2014.
The good sign for publishers, consultants, advertising platforms and marketing service providers is that 98% of responding marketers plan to increase or maintain their digital marketing budgets. The rise in digital marketing spends goes primarily to data and analytics (61%), marketing automation (61%), email marketing (58%), social media marketing (57%), and content management (57%).
It would actually be interesting to have a study that asks marketers what they define as social media marketing. Why? Interestingly enough, only 34% of those marketers find ROI in social media marketing. As of a lack of definition, we cannot argue whether there is a misunderstanding in the definition or in the company’s approach to social media. Still, only 52% think their social media activities will actually pay out in ROI. But when Facebook, Twitter, and LinkedIn are cited as the most popular social channels for the respondents, I doubt that their social media approach is properly understood. At least there are positive signs when the repondents see that Google+ gets more impact with 18% planning to start in 2014.
The study shows that most business leaders own a mobile device (90%), live and like the mobile business and are agreeing that life is “easier” (68%). Even more, 64% see their lives becoming more productive and enjoyable. Apple is still leading with 44% owning an iPhone versus Android users with 35%. Obviously tablets are on the rise as well with almost. The merging worlds of private and business becomes clear with the fact that 72% (up 39% from 2011) use their tablets for both work and leisure.
Not surprisingly, two thirds value tablets “useful business tools”. Also second screen usage is big among the business elite: 75% watch TV at the same time as using their tablet. The engagement effect of the tablet is striking with nine in 10 of these consumers taking some form of action on their tablet as a result of seeing TV content. And when the study shows that a third of the business executives are responding to TV advertising, marketers should think about ow to implement clever brand and lead generation campaigns in their TV spots. And when marketers want to reach the business elite, they are best in sending out their messages in the evening and at weekends (tablet usage). Smartphones are always-on, so no special advice here.
“This study shows the huge influence mobile technology has on our lives. Europe’s elite are keeping up with technological change, owning more devices than ever and using each in different ways. In the area of social media and its value in business, the jury is still out and it will be interesting to see where this leads next year.” Mike Jeanes, Director of Research, EMEA, CNBC.
Top content for tablets…
– business and financial information (72%)
– web browsing (70%)
– news updates (70%)
– email (69%)
– reading newspapers/magazines (69%).
Top content for mobiles…
– email (79%)
– business and finance (72%)
– web browsing (70%)
– news updates (70%)
– GPS (69%)
Despite some common disagreement that the business elite is not on social networks, the study makes clear that 85% are a member of at least one network with 61% on Facebook, 58% on LinkedIn, and 43% on Twitter. It is important to note that 40% (up from 19% in 2011) of Facebook, LinkedIn and Twitter users are now connected to all three social networks. Furthermore, 58% of the business decision makers use social media for business (still private use is the standard for 75%). It could be that private and business worlds are really not kept as separate any longer. The commercial impact of social media is seen critical. When 46% see social media “neither useful nor essential” (compare study 2012), it shows that most business decision makers had either the wrong advice or the wrong expectation raised by consultants. One of the reasons why we are always very critical in analyzing the benefit of social media for a company or brand, and trying to show the realistic benefit for companies.
Some years ago, I have written about the Retweet button being the “killer of positive blog comments”. Over the years in many seminars and speeches, I have stressed the point that the ROI of the social web is not about generating high quantity in “thumbs up” on Facebook or Retweets on Twitter, or anything automated that comes along with similar meaning.
Retweets, Repins & Co. are only of value for your business, if…
– you accept those automated response generators as the pillars of your ROI system.
– you are a marketer who builds their business on proving the capability of accelerating reach rather than relevance.
– you are a brand that struggles to understood the value of building a community-centric business.
Still: Are ratings as insightful as a written comment – be it on Twitter, Facebook, LinkedIn or any other community platform out there in the social web?
I definitely agree that the Facebook “Like” has become confusing, and in some way worthless. Many users just click on the Like button out of a pure and immediate emotion, nothing sustainable, lasting or resilient. Some are expressing their solidarity with it. Some are missing the dislike button, and click the Like button.
Do those automated responses tell us what they really feel? Do they tell us what people really think? Do they help us to evaluate our position? Fair enough, these automated response creators are some word-of-mouth catalysts. Well, I admit by adding these five star ratings, there is at least some specification in the differentiation of generating feedback.
Obviously, the new rating system puts Facebook in a different position and moves it more to the likes of Foursquare, Yelp and traditional trend shop systems. Furthermore, it allows users to be more concrete in defining their opinions. Users might get better orientation in why a coffee shop or a business or restaurant deserves to be tested.
But does it really help us? What is a 4.2 with twelve votes compared to a 4.9 what two people have build up? Do we know who gave the votings, and if these people have the same interest and preferences that we have got? Doesn’t orientation get even more confusing? What will we book on travel websites when there are less and less reviews and recommendations?
The 3 Rs of the social customer (ratings, reviews and recommendations) might make our lives interesting and exciting for new stuff. But maybe there is too much new trends and products out there to get our heads around. Maybe a real review or recommendation will sometimes help (one positive and one negative like Amazon does it already). Still, automated feedbacks -be it stars, RTs, Likes, etc.- are the least valuable insight creation generators on a relevance scale that helps defining internal and external social web ROI.
PS: If your managers are still happy when your numbers of Likes go up, be happy and tell them nothing about this post. If not, let’s discuss further how social networks should constitute in order to deliver deeper insights in the mindset of our customers.
The time is now. When Q4 is heading towards December many companies, analysts, experts and specialists start their forecasting for the next year, and what will drive the business. So, what happens in 2014? The first infographic just came out by the guys of WebDAM. The company provides a digital asset management software and just recently aggregated some interesting data in order to illustrate 20 key trends for marketers which will become important to meet the demand of their own business targets.
Five key findings in brief that we think companies should watch out for…
– Email with social sharing increases click-through rates by more than 150%
– CPM is out: Pay Per Click budgets will increase to over 70%
– More than 50% of marketers found customers on Facebook (40% LinkedIn)
– Video landing pages increase conversions by almost 90%
– Client testimonials are most effective as content marketing format
According to a recent “2013 Social Media Survey” by Proboards the interactive communication preferences across platforms are still heading towards forums. Although you might think that they asked their own users (which is probably right), the survey still shows the importance of forums and communities. For their results the company promoted the research toover 150 respondents via Facebook, Twitter, and the ProBoards customer support forum.
The study claims that online forums are still popular. What was interesting for me to see is that they were even preferred compared to social media platform for interactive communication. Two out of three respondents (67%) stated that forums were the social media tool they found most valuable. Obviously, Facebook, Twitter, blogs, and Google+ follow but the question here could be asked whether most people realize that all these platforms are also forums if used in the right way. That LinkedIn did not figure in as a significant social media tool is in my eyes not correct as the forums there within, are very powerful and interactive, plus they generate very valueable input for managers.
“The survey results do not surprise us since platforms such as Facebook and Twitter do not give you the level of control that forums do,” said Patrick Clinger, founder and CEO of ProBoards. “Forums provide greater customization and more options…”
Forums -although we would define them as communities according to our Community Centric Strategy– offer a great way of engaged communication, and probably with better and deeper quality than any other social network. There is more information in the infographic attached…
When I started my blog some years ago, people in my industry were shaking their heads and wondered what the benefit was to be a “social media professional”. Some asked why I was wasting time on social networks like Twitter, Facebook & Co., and what the ROI is in writing blog posts and then sharing them. Some wondered how I managed to stay on top of the main trends and developments in the “social web” world. Well, time is passing by and people start to be getting answers.
In the last years, many companies have thought about hiring a social media specialist, or have even given it a proper job description. Still last year, we went into companies and found some young interim or part-time freelancer being responsible for the feedback on the 3R’s (ratings, reviews and recommendations!) of their own social customer. Often these people earned nothing but a smile from their colleagues.
These days seem to change. Can it be that companies understand the value of engaging with their customers on the social web – the place where they not only spend a lot of their spare time? They actually do marketing, sales, customer service, employer branding and much more for companies and brands. Some companies still have not understood though…
Now, the social marketing platform Offerpop has created a nice infographic based on data from LinkedIn that shows a staggering 1,357% increase in social media jobs posted on LinkedIn in the last three years.
dmexco 2013 is over.
The growth trend of the digital marketing show is impressive and continues to write a promising history.
Visitors: 26.300 – increase by 16% compared to 2012
Exhibitors: 742 – means over 164 exhibitors more than 2012
International attendance: approx. 25% of visitors and of exhibitors
Satisfied visitors: More than 80% were happy with the event and exhibitor presentations
Future of Digital Marketing
1. “The era of digital marketing is over. It’s almost dead. It’s now just brand building.” Marc Pritchard, P&G http://bit.ly/15eHlWR (Tweet by Armando Alves) – Watch Closing Keynote Day 1
Future of the Moment
2. “Twitter is a reflection of our individual and shared moments, which is why it gives all of us, including brands, the opportunity to engage and to act. In short, it allows us to be in the moment.” (Quote by Katie Stanton) – Watch Closing Keynote Day 2
In another year as a co-moderator of the dmexco conference program, it was a great honor to moderate
the “Women Leadership Table” for the second time – this year Denise Colella (Maxifier), Noelia Fernández Arroyo (Yahoo!), Anne Frisbie (InMobi) and Ashley Swartz (Furious Minds) attended. Thank you ladies, you were smart and know why analytics, mobile, social, and content seed the future of brand success.
The moderation of the panel “Realtime Branding” (Social Media) was a great pleasure for me. Here we had Sarah Wood (Unruly), Surjit Chana (IBM), Brian Goffman (LinkedIn), Holger Luedorff (Foursquare) and Markus Spiering (Flickr/Yahoo!) at the dmexco bar table. Learnings? If there was a network with a limitation of 50 words, they would be able to manage it perfectly. Just watch the debate until the end to get their expert view on what you as a marketer should invest in to leverage social media.
The challenges for brand marketers haven’t changed massively since 2012. Big Data is still rocking and not yet fully understood in companies in terms of how to make use of it in the future. In case they are seeing the benefit, they still need to hope for a value chain between publishers, agencies and the LUMAscape players to cope with the evolution of adtechnology – and some will still try to find an agency to manage the data for them. Marketing and cloud services might become a new opportunity to analyse and measure the data for a clever strategy between going to market with long-term “content strategy” (community, monitoring, pull) and the short-term “campaign” (banner, SEO, push) approach – whether in social commerce, mobile or social. The digital future will remain exciting – stay tuned.
Looking forward to the next dmexco in Cologne, September, 10. and 11., 2014 – CU there!
With their recent study The Creative Group predicts that the majority of advertising and marketing executives (62%) expect an increase of their company’s spending on Facebook marketing in the follwoing twelve months – 9% more than they predcited one year ago.
Not surprisingly, the advertising spend on Facebook leads the list of social ad spendings. However, the majority of executives will also invest in other channels more than last year: LinkedIn (51% up from 38%) and Google+ (50% from 41%). Twitter is also on the plan for a budget increase with 48%, as well as Youtube (40%), Pinterest (35%) and Instagram (32%)
Although this shows a great breakdown of all industry sectors and job titles in an overview, the different industry segments and job titles varied in their view on budget increase:
– Large companies (100+ employees): 74% of marketers expect an increase in Facebook spend
– Smaller companies (100-249 employees): 60% predict an increase for Facebook spendings
– 57% of advertising executives expect an increase in spendings
– 48% of marketing executives expect an increase in ad spends
– 12% of marketing execs expect a decrease in spend
– 6% of advertising executives expect a decrease
The study was based on a US survey of 300 marketing executives and 100 advertising executives.
How about your marketing budget planes with Facebook, Twitter and the likes? Increase or decrease?
They are on increasingly on Twitter (77%), Facebook (70%) and Youtube (69%): Fortune 500 companies. However, in terms of blogs (34%), Google+ (35%) or Pinterest (9%) they seem to be a bit behind or not seeing the value. And the report obviously forgot to look at LinkedIn. This is the findings of one of the latest research pieces of the Center for Marketing Research at the University of Massachusetts, Dartmouth.
Although from our perspective, blogging is seen to be the essential starting point of a social media strategy, most companies are not there yet. Not all industries see corporate blogging similar. The use varies significantly by industry. It is striking that no company in the pharmaceutical and tobacco section blogs. In contract, 53% of Fortune 500 companies in the telecommunications industry do. Almost 80% of the blogs show regular activity, have got RSS feeds, appreciate comments and offer subscription.
Twitter is used in eight out of the top 10 companies (Apple, Chevron, Exxon, Ford Motors, General Electric, General Motors, Phillips 66, and Wal-Mart). All these companies offer frequently status updates on Twitter. Just Berkshire Hathaway and Valero Energy are missing out. Interestingly enough, Facebook has got most followers on Twitter. Google comes in second, then Starbucks, Whole Foods Market, Walt Disney, JetBlue Airways, and Southwest Airlines.
On Facebook only Exxon is not showing up with an account. The rest, nine of the top 10 companies (Wal-Mart, Chevron, Phillips 66, Berkshire Hathaway, Apple, General Motors, General Electric, Valero Energy, and Ford Motors), has got a Facebook page. Obviously, the special retail shows strong use of Facebook (96% with a Facebook fanpage) versus 44% in the utilities sector. That Facebook has most Facebook fans is not surprising. Coca-Cola is number two with 66 million fans, followed by Walt Disney, Starbucks, Wal-Mart, and Target. These companies all collected more than 20 million fans.
What we found interesting in the report is the mention that 59% of companies link to the social platforms from their corporate homepages, whereas for the other companies it required the research team some additional searching. Looking at further social networks and results shows the different strategies. From companies ranked in the top 10 just Berkshire Hathaway has got its own YouTube account. In terms of Google+, 35% use their Google+ accounts actively while 19% set up corporate accounts which are unactive. 50% of the top 10 companies got actove Pinterest boards (Apple, Exxon, Ford, General Motors and Wal-Mart). And although Instagram is now a part of Facebook, only Ford Motors opened an account here, as Wal-Mart is the only top 10 company making use of Foursquare.
Some say, email is a dead media, some know it is not. At least not on smartphones in the U.S… For American adults email is still the most common activity on smartphones. In the second place comes Web browsing, closely followed by using Facebook. This is the result of the “Always Connected” study from IDC. The study is based on feedback from more than 7,400 iPhone and Android users between 18 and 44 years old.
These are the main findings of the study….
– 78% check email on smartphones
– 73% browse websites
– 70% using Facebook in some way
– 131 minutes per day communicating on their smartphones
– about 33 minutes of the above are spend on Facebook.
Now, it has to be mentioned that the study was sponsored by Facebook. The study supports the fact how important Facebook is for the communication via smartphones. It also makes clear how much time users of social networks spend their daily time when they are out on the streets, at work, at shopping or following sports activities. Obviously, most of the time is spend on Facebook – in eight different activities, people responded that they are almost 4-5 times more likely to be on Facebook than using Twitter or LinkedIn.
The value of the study can in some way put into question, although we have seen many studies in the last years that demonstrate the importance of direct one-to-one communication on Facebook and the mobile use of Facebook. Another study by Localeze/15miles/comScore Local Search found that not email but search is the main activity of the mobile users. However, the approach of the study was different. It looked at people not only in the 18-44 years range and it proved the use of smartphones and tablets. there must be a reason why Facebook sponsored this study. I would not be surprised if they will publish some new mobile advertising opportunities soon.