Last year, I had the pleasure to announce this gentleman for one of the main dmexco stage panels. And I can tell you, it was not fun to complement him to go off stage when their speaking time was up. Terence Kawaja is a funny character and great speaker, and he doesn’t like being stopped talking. Now, the investment banker and founder of LUMA Partners introduced his latest chart of the Lumascapes which will define a new status quo in the advertising industry.
After their numerous Lumascapes on search, display, video, mobile, social commerce, and so on, this time we get to see their perception world of native advertising. Although the definition on native advertising is still evolving and may seem some kind of „rough in barriers“ and not very much detailed, it is making it’s way through the brand campaigns of companies. Not even the IAB playbook on native advertising gives us a clear definition on what exactly native advertising is, and how it differs from content marketing, branded content, or even how it can be located against approaches like story advertising.
To the guys of Business Insider, Kawaja said about his latest version…
„Given how consumers ignore banner ads, these new consumer – friendly formats are proving to be the engine for how marketers can engage audiences, especially in social and mobile contexts.“
Let’s hope he his right with his perception. I realized some brands of emerging companies are missing in the chart, maybe as it is an American view, maybe because we are often getting invites to the latest new start-up in this field, maybe as we see the world a bit different. Still, Kawaja and his team have done a good job again. Let’s hope he is joining dmexco 2014 again.
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!
Many companies are asking when Facebook commerce is really taking off. Especially as some consulting companies like Strategy& see in Facebook an emerging market that might reach $30 billion within the next five years.
However people spend a lot of time on Facebook, social commerce is still low. And the reason is…? No other than those people fear in e-commerce: traditional security topics.
The key findings of the study were…
– 75% indicate they would be more likely to purchase a product or service that a friend openly endorses via social media
– 55% don’t feel comfortable giving credit card information via social media
– 45% are somewhat comfortable however especially men between 18 and 54 with an income of $35,000 or more
– 34% are more likely to share info about a purchase they made on a social media site with friends than one made on a traditional e-commerce site
– 50.7% access Social Media sites close to a full hour per day on average via a mobile device
Virtual currency like Bitcoin or Facebook Credits seems to be a „NoGo“ as the new currency model. 74% of the respondents stated they wouldn’t use virtual currency to pay for a purchase made on a Social Media site. Nevertheless, it seems that trust is a new link for brands to get money through Social Networks. 20% agree they would purchase products or services from their favorite brands on a Social Media site. So, another emerging trend could become that brands will use their merchandise shops and make it accessible through Social Media sites.
Many companies ask themselves if social commerce ist he next big thing and what impact it might have on the buying process of consumers. Let me give you two examples to think about social commerce visions with two of the latest studies that I came across in the last two days.
An optimistic view…
The E-Tailing Group Inc., sponsored by PowerReviews, finds in a research that one in two respondents say they spend 75% of their overall shopping time researching for products (compared to 21% last year). Customer reviews have the biggest impact on the decision to buy: 90% respond reviews have an impact on their decision; 60% say they’re the most important factor.
The report The 2011 Social Shopping Study finds that 29% of shoppers are turning to social networks to research products. However, only 18% of retailers in The E-tailing Group’s annual mystery shopping survey in the fourth quarter of 2010 feature customer reviews on their Facebook pages.
“People are willing to take the time to do research,” she says. “They will do anything to find the right price. (…) Social is emerging as a significant way that some consumers research products (…) The real question will be whether social media is adopted by most younger consumers and become a standard way consumers research products.” Lauren Friedman, President, The E-tailing Group
Some essential findings for social commerce future consideration…
– 59% say they read customer reviews (if on social platforms or not is not quantified)
– 42% access question-and-answer features that allow a consumer to pose and respond a/to question(s) to/of other shoppers
– 26% converse in community forums
– 15% view user-generated videos or create their own video
– 13% access a retailer or manufacturer’s Facebook page
– 9% monitor, respond to, or post tweets on Twitter.
A pessimistic aspect…
A representative study conducted by Havas Media and Lightspeed Research of 1.007 UK social networkers finds that 89% of respondents not having bought anything on Facebook. Above that, 44% of people are not even interested in doing so.
However, if the provider or manufaturer offers some special discount and deals, 77% of respondents are more likely to buy via Facebook shops. And targeting then becomes key: 70% of the people said, they would buy things from Facebook tht were based on their interests and prevous shopping behaviour (so business intelligence and data mining are welcome with consumers it seems). Also Location-Based Advertising (LBA) gets some impact then: 55% would even „check-in“ to a venue or stire via Facebook Places or Foursquare promotions.
Exclusivity is a main factor for social commerce according to the study. One quarter (25%) responding they would purchase a product on Facebook if it wasn’t available anywhere else, 22% make trust in a brand they know dependable on their buyiong process, and 17% said, they would purchase if it was easier than shopping via ecommerce solutions. Even, 11% stating they would buy something that was only offered to ‚fans‘ of a brand.
Brand advocates and brandvangelists are essential. The study shows the power of online recommendations and the influence of friends is essential for socail shopping. If friends recommend a brand, 53% of consumers were more likely to look up information about a brand. 17% were likely to buy from a brand if it was recommended by someone they knew.
And crowd shopping for discounts seems to become a trend. More than half of respondents were interested in getting together with friends to buy products in services in groups. 60% of males finding this opportunity compelling, compared with 48% of women. And women are generally speaking more „neutral“ and „negative“ when they see a brand on a social networking site (83%), according to the “Women & Brands Online: ‘The Digital Disconnect’ Emerges” study, from ad:tech Chicago and Q Interactive’s “Women Channel”. Those same female Internet users responded they were more likely to be affected by coupons and discounts (41.6%).
Social Commerce is evolving to play a bigger role in the purchase decision process. And like in earlier offline ages, it is the social graph (friends and influencers) that make the important difference in my eyes. You buy from those people you trust (if they are the middlemen and know about it, or not). The studies show a clear trend: People, especially men while women being more difficult to affect with social branding activities, buy when they are addressed with the ads of the poeple they know and trust in. Brandvangelists are an essential factor that companies and brands need to consider embracing in their customer acquisition tactics when thinking about the future of their web strategy.