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.
Some years ago and in many seminars, we make clear that the 3Rs of social consumers will revolutionize the sales world: ratings, reviews and recommendations. However, the question arises what make people recommend brands and services? What is their intrinsic motivation or human driver that makes them push out more positive comments around a brand.
A recent infographic by Social Media Link pulled together the most important findings of a study that surveyed 24.000 social media consumers. Still, the best customer experience that leverages recommendations is „a positive experience with the brand“ (93%) and „receiving a free product or sample“ (79%). On the other hand, a poor customer experiences motivates sharing, too. 71% stated „a negative experience with a brand“ makes them write a review as well.
The survey respondents also mentioned that they are more likely to trust a product recommendation on Facebook than any other social network (71%), followed by Instagram with only 38%.
Not surprisingly, Facebook and retailer websites ist he place to discover new brands and services (53%). However, for purchasing the retailer becomes more important and after purchasing a product people use predominantly Facebook to share their buy (54%) – again Instagram comes in second place.
Now, when you think you just need to give a free product to someone, it makes them write a review or recommendation, you might be wrong. Although, 88% trust friends’ and family members’ reviews when these write about their give free product in exchange, the bloggers only come in at 78%. BUT: Is payment included in exchange for the review, trust-level goes down – especially at bloggers to 48%. Still, the best way ist o have apersonal story which is authentic, not animated and personal.
Selling through social media has always been a challenging business. However, all brands and companies we have spoken to in 2014 wanted to turn around Social Media from a brand reputation channel into a sales opportunity touchpoint.
Obviously, many of the companies had already failed. Most of them as they were either too greedy, or just not prepared to go in a bar without expecting someone to sell them a drink – or respectively, to buy their products and services after the brands or companies have posted their first status updates. In my eyes, it is time to shift expectations and start anew. 2015 should not be your year of sales disappointment, it should become your year of redefined engagement.
All companies aim for the same goal. Customer engagement is what companies are waiting, hoping and praying for. Thus, they pump out tons of content pieces from their latest brand sponsoring activities to the best white papers and case studies they can offer until they cannot find any content piece in their PR or marketing repository that has not been shared across the globe. And by accelerating the content via Facebook, Twitter and the likes, they expect their KPIs to become real.
And then, the guys from SocialFlow conducted a study in summer last year. analyzed organic posts with almost 1.5 billion social actions, showing them 99 percent of those updates on Twitter, Facebook, and Google+ create little to no engagement at all. Did brands use engagement the wrong way? Where their tactics bad? And if so, what were the obstacles they did not obey?
Let’s look at the following three tactical approaches. Ask yourself if you really follow the three rules of engagement.
1. Engagement: Think cross-department, cross-partners and cross-employee
Companies still tend to be structured in silos. Internal politics, department thinking and career ambitions rule out what could be replaced by community engagement, employee engagement initiatives or engagement incentive plans. Still, most responsible managers don’t know or forget how networking inside the company and with all external forces like resellers, retailers and partners might might leverage selling opportunities.
Now, whether it is limited digital capabilities of employees or the HR department that is often only involved in social media in terms of setting up social media guidelines, companies should start realitzing that their social media manager is not the company’s silver bullet. HR and marketing need to align forces and work closer together: Culture, relationship building and trust creation is not only a sales business which got nicely highlighted by a study from Altimeter at the end of 2014.
Setting up processes, programs and platforms that work towards a common goal, that get updated by various minds, by different perspectives and manyfold views attracts the engagement of more customers. The formula is easy and proven: More brains can be in more conversations and generate more engagement.
2. Engagement: Learn cross-platform, from „free-meal“ to „pay-for-play“
Companies and brands seem to accept that social media is not a „free-meal“ any longer by investing in consulting companies to help transforming their social media efforts into social selling enagement. Facebook is leading in driving engagement to brands according to Simply Measured’s 2014 Facebook Study which analyzed the Interbrand Top 100 Global. Photos accounting for 77% of total engagement, and link usage to around 16%.
However, brands still haven’t respected the fact that getting people to listen and read their marketing messages by posting in social media is changing dramatically. When Facebook turns the algorithm into „less promotional“ this year, companies need to start redefining how they approach their customers more subtile. Even if they will be addressing them with building clusters (or circles), contacting them via the „@name“ phenomenon or hashtags. The wording needs tob e chosen carefully, and we can be sure other networks will follow that example.
Thus, the next big thing will be the shift from investing in traditional media to spending more money in platforms that leverage social networking engagement. Products like the LinkedIn Sales Navigator or individual targeting through the combination of data analytics and marketing services, will become the new sales kid in town. Where marketing and media decision makers have invested in nebulous target-group definitions, social networks can cluster target-groups by their individual interest in content, in pictures or in videos.
The only shame is that smart data (and especially media and sales data exchange) across platforms does not work yet. So, banners and sponsored posts will continue to haunt customers although they have already bought a product or service a banner promotes to them. Clever managers invest in blogger programs, in brand advocates and loyalty programs to drive up and cross-selling opportunities. Don’t just think about content!
3. Engagement: Understand cross-quality values
Just to make this clear from the beginning: A LIKE is not only a LIKE, like a Retweet, Repin or Reblog is not just a meaninglesss interaction of some lazy engagement. In many seminars, we see marketers that still center their KPIs around quantitative engagement figures while under-estimating the chances that are covered behind such „automated“ customer interactions: joy, interest, passion, emotions, etc..
Clever sales people use such quantitative engagements for profiling their customers’ habits, experiences and interests in their social CRM database or sales management systems. They value every single customer engagement as they know when to turn quantitative into qualitative engagement, and how to turn it to their favor in meetings, calls and conversations. Knowing that a client has liked a shared golf or football video can be the start of a long-term relationship and open up doors for introductions to others.
Customers will be happy if they get good content to share with their own peers and community. They appreciate the dedication (seasonal content), commitment (consistency of service) and the quality of engagement (high interactivity) that brand accounts offer to them according to a study by the Engagment Labs. Appreciation, well-understood from customers and companies, is the key to social media engagement.
The link between customer engagement and employee engagement was not only proven in a study by Answers Corporation lately. In many examples with customers and experts have we experienced that social media engagement is not rocket-science, however the process of setting it up plus using and finding the right technology is a challenge. Still, the rules of engagement are changing in social media, especially in social networks. Facebook is the former RSS feed, just with the difference that you can sponsor it now. Youtube is the new search engine. It’s 2015! Redefine your engagement mindset!
The growth trend of the digital marketing show dmexco is impressive and continues to write a promising (hi)story.
Visitors: 31.900 – increase by 16% compared to 2013
Exhibitors: 807 – means over 65 exhibitors more than 2013
Speakers: 470 – as of various stages with new start-up village and work labs
This year I wanted to wait some days before I am writing my little review to see what really stayed in my mind, and what people were talking about after the event. This is what stayed in the brains of my friends – maybe it should reach you.
1. „dmexco is like the Lumascape brought to life.“
#Quote in Breaking Down Silos for Brands Panel
Damian Burns, Director of Global Strategic Partnerships, Google
2. „Nerd is the new black“
Brad Rencher, SVP & General Manager Digital Marketing, Adobe
3. „Online is the new offline.“
Quote by Joko Winterscheidt, TV-Moderator
4. „The play is to work out the first against the second screen.“
Quote in „Addressable TV – A Marketers‘ Dream Panel“
Jim Clayton, Executive Vice President, HE New Business Division, LG Electronics
5. „The digital revolution is over, we are now in the digital evolution.“
Quote in Digital Revenue optimization 2.0 Panel
Sital Banerjee, Global Head of Media, Philips
6. „The brand in many ways need to take the back-seat. It can’t be all about the product if you move into the content section.“
Quote in „The Content Summit“
Jimmy Maymann, CEO, Huffington Post
7. „@ft presence at #DMexco so big they don’t even have a stand! They are on every phone and tablet! @dmexco @ftbized“
Quote from #FT rep/via Oliver Matthews
The three main takeaways from the event for me were…
a) Trend: dmexco stages are challenging global TV stages.
b) Topics: TV goes mobile. Digital is leading corporate strategy.
c) Town: Cologne needs more taxi drivers and/or UBER subscribers.
Really looking forward to moderate the next dmexco, 16th and 17th of September 2015.
Although many marketers have heard of the analytics, data and technology challenges, a minority of 26% of marketers understand their value for the business they run. This is the latest results of a joint study from VisionEdge Marketing (VEM) and ITSMA Marketing Performance Management (MPM) with input from 380 marketers gives insights on marketing performance and best-practices.
The study shows how marketers can earn an „A“ grade from the C-suite as they understand impact on data for business. The outperforming marketers know how to make performance management a priority. They know how to plan and implement a well-defined and documented road map for performance improvement. While many marketers measure effort and activity, these „A“ grade marketers find the right metrics on ROI efficiency, while building dashboards in order to communicate business benefits of their efforts.
Not surprisingly, „A“ grade marketers know how to align their marketing objectives with business priorities, which are the basis for selecting the right metrics. They understand why their offerings create a bi-directional benefit for customers and shareholders.
Of the top performers, 63% claimed increased customer share of wallet. This is a massive success when compared with 48% of „B“ marketers and 38% of low performing marketers. When monitoring improvements for business growth, 54% of „A“ respondents confirmed improvements in their win rates. This stands against 39% of the „B“ competitors and 25% of laggard marketers.
However, some of you marketers might think you should have the ROI in focus, the „B“ grade marketers
are too much looking for sales figures. They are spot on getting leads for their pipeline and try to map the customer journey intensively. Still, they lose the big picture of the long-term web strategy. The lazy laggard marketers just see the production of marketing campaigns as their target instead of producing and generating real business results, according to the study.
According to a recent study by Klout, the most popular content topics on Twitter and Facebook seem to be similar. However, they differ significantly beyond the top 10 topics, states the report based on Klout Topics data from more than 580 million people all over the world. The topics were categorized interests, passions, and content areas.
The study shows that music and television are still the main topics to talk about on the main social networks Facebook and Twitter. And obviously, people are still generating and sharing their words and views on celebrities, holidays, software, films, and business, which showed up to be highly popular among the social networks.
In general, engagement and interaction on various content topics occur in 40% of the cases on the same top 10 content on Facebook and Twitter. The pattern of engagement does not really make a massive differentiation obvious on the various social networks. Still, the remaining 60% show some interesting variations on interactions which definitely need some mentioning as tzhey vary from network to network.
However, the remaining 60% of all engagement comes from topics beyond the top 10, and the percentage of interactions with those subjects differs significantly by network
Twitter 95 vs. Facebook 23
Twitter 104 vs. Facebook 52
Twitter 89 vs. Facebook 197
Twitter 98 vs. Facebook 196
Twitter 66 vs. Facebook 21
Twitter 50 vs. Facebook 22
Marketing automation tools are making their ways into the business world, not only for large enterprises but also for small companies some solutions have proven to be promising, and not only since IBM bought Silverpop. However, which tools are the right ones for your business? At least we get some advice now from TrustRadius‚ „Buyer’s Guide to Marketing Automation Software“. They did a report based on 400 in-depth reviews by authenticated end-users of marketing automation products combined with the results of more than 10,000 comparisons performed on the TrustRadius‘ website.
The report looked at software solutions that include various demand generation capabilities like email campaign management, landing pages,or even lead scoring. However, the analysis out those providers which just offer one aspect of marketing automation (i.e. only lead scoring). In their focus were those tools that „help to automate and scale repetitive marketing tasks and the analysis of those efforts.“
These were the findings they came up with…
Small Businesses (Up to 50 employees)
Small companies gave quite positive and high ratings with at least a 4 out of 5 (average was 4.3 out of 5 – better than the average in the midsize and enterprise companies). Then TrustRadius ranked the products via two factors: a) average user rating and b) how does the product serve the business segment (determined by the number of comparisons made by organizations of that size).
The leading 3 solutions were HubSpot (4.8, 69% of comparisons by small businesses), Act-On (4.7, 53%), plus Infusionsoft (4.3, 96%). Other solutions like Marketo, Pardot, Eloqua, and Silverpop also got good ratings. Still, they ranked lower as they had a smaller proportion of small business comparisons.
SMB Businesses (From 51 to 500 employees)
The average rating in the midsize company category was 3.9 out of 5. The report shows that a higher demand goes alongside bigger companies and more complex requirements for marketing automation tools. Here, the trusted vendors are Marketo (4.2, 60% midsize category) and Pardot (4.0, 58%). Act-On, Eloqua, and HubSpot also got positive ratings.
Enterprise Businesses (500+ employees)
The average rating for enterprise marketing automation products was 3.8 out of 5. Eloqua showed up to be the top marketing automation software for enterprise companies (4.4, 59% enterprise focus). Act-On, HubSpot, Marketo, and Pardot also performed well according to users, but they had a smaller proportion of comparisons from enterprise customers.
Tell us about your findings. Which tools do you use and what has proven to be successful for you? All insights can help other companies make faster decisions.
Content marketing seems to be the new hype in the business world. But wasn’t it there before? Case studies, whitepapers, corporate brochures, corporate publishing, etc. – did we not have all of this before? Maybe the B2B world was better trained in this topic than the B2C folks.
The guys from Curata now train marketers with a step-by-step content marketing marathon infographic. It will make marketers understand what it needs to become efficient in content marketing, to have the right pace at producing versus curating content, to achieve the perfect help and support from your fans and get to the finish line.
Good luck – and don’t forget to drink some water!
The perspective of Uberflip „predicts“ that there are some obvious trends coming up in content marketing.
Not surprisingly, a „director of content“ might be the new team member in companies. This might be nothing new when compared with our job title predictions for web strategy at the beginning of 2013. Some other aspects of Uberflip include: higher quality of content, content curation, multiscreen marketing, and what every consultant will love: bigger budgets for hopefully better content.
„Brands will step up their game by integrating great journalism and storytelling into their strategies,“ states Uberflip.
Let’s hope their predictions proof to become reality. Or maybe, you see some other development in the near future. Why not share it with us…?
The questions we get asked by management team all over Europe are quite similar whenever it comes to best possible conversion times, or perfect hours and days to posting on social networks, to send out updates and to generate engagement. Although this might be an option to boost your social and web activities, it should be clear to everyone that if we all obey these options, we are challenging our clients more and more in generating engagement.
Above all, not all social media platforms are alike. The user types of social networks are different, depending on whether these are coming with a purchase intent, the idea to keep their friends up to date about their latest spare time activities, or whether they are looking for new job opportunities in career networks. Sentiment, time and openness for your updates might vary from minute to minute.
Mitt Ray summarizes some advice on when could be the best and worst time to publish your updates on Facebook, Google+, Twitter, Linkedin, Pinterest and Tumblr. Take it for whatever it is worth to you…