A recent survey from Wildfire by Google and AdAge asked 500 executives from large companies how they budget, staff and measure their social media business. Over half (50,7%) of the surveyed managers work for businesses with $1 billion or more in annual revenue. It shows that marketers in enterprises are increasingly investing in people for this business topic. 46,5% of companies with revenues over $1 billion have a team of 50 or more employees looking after the social business.
Furthermore, they are not afraid of asking for help when needed: 65,5% use a mixture of agencies and in-house personell to manage social media. This is different to smaller companies with revenues of less than $1 billion a year. These companies tend to have one to five employees for social challenges, and almost two out of three use 62,4% use own resources, and not agencies.
From all respondents, 45,6% of respondents see their social media spendings rising by 10% next year; 15,9% see even an increase by 11% to 30%. Just 29,1% of the managers have a “pure” social media budget. Others managers seem to be getting their budgets from other marketing budgets like traditional media – 23.9% said their budgets are coming from print, television, and radio.
Keeping up the high level of audience engagement is the main issue for marketers. However, most managers are quite confident today about brand damage due to negative postings. This came in last in the concern list. This could have two reasons: Either shitstorms are not as problematic as some social media consultants define or describe them. Or all managers have a strategy in place how to handle these conversation issues.
Not surprisingly for us, finding tactics to effectively measure social media conversations is the second biggest concern for managers. Maintaining a consistent brand message came in third place probably as many companies have challenges in establishing a streamlined culture of social engagement in their company which we realize as one of the main management topics from top level management to “normal” employee.
Retailers managers also see metrics tied to ROI more important than other managers. Still, most companies (58,4%) are tracking content shares as their “most important or important” metric for measuring the ROI of social media. Counting followers comes in second (55,8%), number of page impressions (54,7%) finished third.
It is interesting to see that companies are still quite likely to put social media spendings under general brand marketing or digital media budgets. This obviously gives them more flexibility to shift budgets when needed. However, it also shows that the ROI in social media is not really proven in some companies. Predominantly retailers, followed by technology, media and entertainment companies, seem to be confident that there is a reason for social media budgets and have already dedicated budgets just for social.
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…
Most of us know that B2B is massively moving away from offline to online. But where is the proof? A recent survey by Intershop -based on a survey of 280 European and 120 US senior IT and business decision makers from merchants with a B2B focus and annual online revenues of $1 million to over $100 million- shows that with 57% the majority of B2B vendors sees B2B commerce fundamentally shifting from offline to online.
The company manager that responded are aware of the shift (51%) and replied that they are changing their organizational structures and business models accordingly. Furthermore, 44% of those responsding managers find that B2B vendors adopt B2C best practices in order to improve their B2B purchasing processes.
The following numbers show what the main drivers of change seem to be. Most of the respondents (81%) found that changing consumer expectations are driving the changes in B2B commerce. And another 74% see new technology delivering new and unseen experience access.
Still, not all is shining bright in the world of B2B commmerce. When 96% replied to be facing challenges in adapting to new B2B commerce trends, it speaks a clear message. Thus, the challenge is for…
- 50% to provide intuitive and user-friendly interfaces for multiple touchpoints (B2B online stores and mobile apps)
- 48% to manage complex organizational structures
- 47% to convince offline customers to use e-commerce and self-service channels
It is a good sign that almost all companies (92%) market their products on the Web and the rest is planning to do so. Even better is the fact that of those companies marketing their products online, 95% plan to boost the online part of their revenue in the future. This may be a wish, this may be a dream, this may be hope. However, the main issue in our eyes from several cases we worked on is an internal cultural challenge: Understanding that a shift to online is a personal and a leadership topic. If companies face it and get some good advice, the change to a new B2B commerce is not causing red eyes.
In an era where Big Data rules in many companies’ marketing departments, it is interesting to see where pay-per-lead marketers see the best value in. A recent survey by Business.com conducted in May 2013 of 500 active pay-per-lead advertisers (with SMB market focus) states that most B2B marketers value a buyer’s purchasing time horizon as the most important data point they want (51%). The problem is: They often cannot get that data set.
The second most important data point for leads is the employee size figure of the buyer’s company (31%) which these marketers say would be extremely valuable to get. In the third place comes the industry sector (29%) and then the job title of the business decision maker (20%).
More than half of the people responding (51%) the study said that leads generated via whitepapers are valuable or extremely valuable. Webinars are also on the rise with 34% responding that leads from hosted webinars that feature their company or products are valuable or extremely valuable. Leads generated via sponsored email still find their interest among B2B marketers. Still, 38% stated these are valuable or extremely valuable, followed by case studies (38%) and video (35%).
If we think of the “old BANT process”, the study lacks some answers and findings in terms of making us understand the importance of budget in these days. Not surprisingly though, the study still mentions that 42% expressed strong interest in “hot transfer” leads (connecting companies immediately with leads as they come in) which probably are most promising in terms of fast lead conversion. When 60% see lead scoring as essential for the lead generation process, individual leads still is assigned a score reflecting the likelihood of a response. Maybe this should serve an answer on the BANT budget topic. For me that was not quite clear though.
SO, what would be your answer: IS the BANT process still valid? And what data set would be important to your sales process?
In many seminars I have been asked this question and hey, the guys from ExactTarget CoTweet have given an answer some months ago: What annoys people when they follow brands on the social web, and what makes them like brands? Discounts we knew it. Well, if you still think it is the frequency and too many updates on promotions, you might be right but it is coming worse.
Just imagine you publish a status update that carries some wording in poor typo or, even worse, a grammar mistake. If you read this infographic, you might get the impression that sending out hundreds of status updates asking people to go in shops, to buy tech gadgets, or tell them to buy those online, makes people not turn away from loving your brand. It is actually not that bad, it seems…
However, if you loose the appropriate tonality in your social accounts and a certain kind of quality control gets lost like poor spelling mistakes, then your brand might face a challenge in terms of reputation and followership.
“A lot of people talk about the need for brands to be less formal when they communicate through social media, but this survey shows that there is a danger in letting standards slip too far.” Lance Concannon, Director of Disruptive Communications.
“The findings also illustrate that you can’t take a one-size fits all approach in social media. Younger consumers clearly have different expectations and priorities – overall people said that not posting updates frequently enough wasn’t a major concern for them, but the 18- to 24-year-olds listed it as their most important issue”, says Concannon whose company put together the infographic.
How about you? What do you think annoys people when brands are on social media. Maybe it still is your hundreds of status updates on a day?
It is one of these questions many B2B marketers would love to get an answer: How many of the B2B business professionals that can be reached by B2B media and live events are involved in purchasing decisions or supplier selections?
Well, a recent study by American Business Media’s “Value of B-to-B” report, which was based on 6,682 responses from business professionals, 74 marketers and 111 business publishers and released Wednesday, gives an answer: Of those purchase business decision makers responding to the survey 74% can be reached by B2B media and live events.
The web plays a critical role here. The study states that 87% of those use industry-related websites on their customer journey and research in the decision making process. What they predominantly use is print magazines (65%), industry conferences and trade shows (58%) and e-newsletters (55%).
However, we all think the world is completely digital these days, the study makes clear that 74% use both digital and traditional media to get latest best practices and get the right information for their business. The industry-related focus of the print publications is relevant for (68%) as they spend more time with those publications than with mainstream business or consumer publications.
PS: There are good signs for the media industry, too. Almost half of the responding marketers (45%) expected an increase in B2B advertising budgets for the next 12 months.
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?
The study “Reducing Customer Struggle 2013″ conducted by Econsultancy shows that marketers now attribute 19% of their total website traffic to mobile devices. Delivering positive customer experience is for 40% of respondents a bigger challenge that on the Web. Herein, bad navigation, small screen sizes and difficulty completing forms were seen as the most serious mobile challenges.
Experiencing a poor custmer experience results for 89% of respondents in working with a competitor. But it seems marketers start understanding the omni-channel customer as they are turning to big data and digital analytics in order to better provide a better mobile experience. And some seem to be real experts in the mobile field: 7% of businesses indicate they have an “excellent” understanding of the overall online customer experience.
The integration of online and offline is still a struggle for most businesses. Most marketers know that information about offline locations, contact details and opening hours on their website is key. But when it comes to establishing a social presence for offline products or services and mobile or local search engine optimization, 93% of the repondents could not get the visibility into individual customer engagement via digital channels.
Seeing their lack in understanding the modern mobile culture, 73% of companies surveyed plan to increase investment in online channels this year. Not surprisingly as mobile is making its way to generate results even in mobile advertising. 6.9bn USD in mobile subscriptions globally seem to be an argument and make 72% invest more in mobile channels. 53% will increase their invest in social. Interesting though that the value of social listening is for most seen ineffective but still they agree social gives insight into what is working and what is not. The looser seems to be offline. More than two-thirds of marketers indicated they either plan to decrease or maintain the same level of investment in offline channels such as stores, shops and branches.
There are different views on why mobile advertising is performing. However, some new studies might spread some light: one form TNS and one from SessionM which did their study in cooperation with Millward Brown. The study SessionM published today shows that consumers react positively twice as often to mobile ads… but only as long as they get some value out of it.
Mobile banners are most used from smartphone owners when they get a gift card, coupon, events tickets or loyalty points. Although this gives some good insight in the ranking of the preferred mobile engagement options, consumers want to know what benefit they get out of the digital experience. It means that marketers need to be clever and having some good approach. The surveyed consumers replied that the way mobile ads are presented was crucial to their feedback.
The study makes clear that the mobile strategies need to be clear to the consumer, said Lars Albright, CEO of SessionM: “The questions are, ‘What value am I bringing to the consumer?’ And, ‘How am I doing it?’” It asked 1,000 consumers in a digital survey, as well as a dozen participants in each four hour interviews. 93% of respondents said they had the opportunity to choose a reward in exchange for their smartphone time was “important”. This comes as no surprise after the latest Adobe study telling us that often digital advertising is found “annoying”.
The difference between rewards-based mobile ads and different types of on-the-go promos was that rewards-based mobile ads performed better for purchase consideration (+65), the brand in brand interaction (+14%), branded website traffic (+13%), web searches (+8%), in-store shopping for the brand (+6%), and approaching the brand’s social media pages (+5%). Obviously, the user can be handled and does not always see banners as “annoying and invasive”.
Finally, while a lot of industry players see location-based services as the key to mobile’s future, Joline McGoldrick, research director at Dynamic Logic, Millward Brown’s digital practice, spoke about how interest-level marketing can be a huge help to the space. “Targeting is getting better in mobile,” Joline McGoldrick, Research Director at Dynamic Logicsaid, “but it is still not perfect.”
Now, although mobile ad revenue is far from reaching big amounts of ad spendings, many marketers see it as a growth area. Whatever the number that is attached to total mobile ad revenue worldwide is, Google is the leader with over half of surveyed people according to eMarketer. And if you see the numbers it seems that Gogle is still not happy with the budget chunk they do get, reaching out for more it seems. But also Facebook investors will see some light at the end of the tunnel with mobile ads on the rise. However, Google might like the competition but all that market dominance simply making way for some more challenging competition.
It will be interesting to see who will come up as the leader in this cmpetition, who can compete with Google in general, and will Google continue to grow their business? You tell us your views….
Sometimes surveys bring out the final truth about the status in which chief marketing officers (CMOs) find themselves in. One of the latest reports by Accenture, titled “Turbulence for the CMO: Charting a Path to the Samless Customer Experience” was done with 405 senior marketers from 10 countries. It makes clear that almost 4 in 10 CMOs think they don’t have the right set up to manage their business challenges in front of them. They are missing the right tools, resources and people.
The annual survey shows a decline in 5% in preparedness compared to 2011. Especially, the digital transformation is lacking behind. Compared to 2011 10% find it challenging to improve their workforce’s responsiveness to digital shifts. Furthermore, CMOs also stated that they find it difficult to keep up the efficiency of marketing operations (8% increase!).
Some deeper findings indicate what CMOs main interest in the business will be. The most interesting observation in the results is that digital orientation has the biggest gap between importance and performance among the five marketing capabilities.
The top priority for them is profitable growth (87%) and operational efficiency (85%). The good point for agencies and consultants is that CMOs have this as a bigger objective that cutting their marketing budgets (58%). From a long-term perspective, consumer expectations for specific experiences have the biggest impact on marketing strategy (65%).
And I am sure, you will detect some more interesting findings in their infographic.