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In 2012, one in five consumers switched companies they buy from, including wireless phone, Internet service and retailers, according to new research released today by Accenture. This marks a five percent increase in switching over 2011 levels. However, the eighth annual Accenture Global Consumer Survey also found that the majority (85 percent) of consumers say the companies could have done something differently to prevent them from switching.... [Accenture report: Valuable insight into consumer purchase, online behavior & retention ~ Jeff]
...The report says people are getting some optimism back, although their buying habits -- particularly those of 20- to 30-year-olds -- are going to be radically different. The report lists 13 "microtrends." First on the list is trust, or "trust is the new black." Gerzema said there has been a 50% decline in trust since 2001, but a 35% rise in trust as a driver of brand equity. That suggests there's an opportunity for brands that open their arms wide and say, "Here I am with all my blemishes." "Customers want a reason to believe and brands who give them that will be better off," said Connelly. Gerin said MasterCard is doing just fine in that category -- as she said the brand is 87% more trusted than any other brand of any kind. McCracken said trust matters in a "black swan" world full of disruptive competitors. "The last 20 years have been a chronicle of brands behaving badly," he said. "The name of the game is absolute transparency." The good news for established brands is that assuming they have not been behaving badly, they have equity, while new competitors have nothing but VC money. To achieve trust equity functionally, the "front" of a company -- its brand, communications, what it claims to be -- must match the back, the invisible side, where it does what it actually does.... [Very interesting trend report for marketing and PR ~ Jeff]
Despite marketers and consumers generally believing that traditional media is best for advertising, print, radio, and TV advertising campaigns are rated poorly for their lead generation capabilities, according to results from a Software Advice survey conducted in partnership with Eloqua and CMO.com. Looking first at opinions on lead quality, just 4% of respondents rated leads generated from print, radio, and TV ads as high quality, tied with display/CPM advertising at the bottom of the list of 14 identified channels. On the other spectrum, 40% rated the leads generated by email marketing (house list) as high quality, with organic search (SEO – 36%), telemarketing/cold calling (35%), and trade shows and events (35%) also seeing a significant proportion rating their leads as high quality. That trade shows appear towards the top of the list confirms recent research finding that B2B content marketers rate in-person events highly for their effectiveness....
As we prepare to downshift our minds for the holidays I thought it might be fun to create a snapshot of what brands that succeed in 2013 will look like. As we prepare to downshift our minds for the holidays I thought it might be fun to create a snapshot of what brands that succeed in 2013 will look like. It may help to orientate our minds as they do a lot of important unconscious work over the holiday break. Its so rare these days that we actually allow ourselves sufficient time to integrate the firehouse of information we each receive every day. Treat it as a checklist and ask yourself, on a scale of 1-10, how well your brand embodies each of these ten characteristics.... [A must read for marketers, PR and content pros ~ Jeff]
As content creators look to keep audiences interested and clicking on more assets, they would do well to consider audience composition, as research suggests demographics can have a substantial effect on how web users behave once they have found interesting content. Research from content optimization firm nRelate shows that age is one major factor in how users engage with content online. An October 2012 survey found that younger US web users, especially younger males, had a high propensity to click on related articles and videos after reading online content. Older users tended to click on links to related content on a weekly basis, and women—especially older women—were more likely to be drawn to a story that featured a photo.... [Useful social marketing insight ~ Jeff]
As a creative marketing guy, I love a good idea. In fact, I’ve spent many hours sitting in conference rooms brainstorming with teammates to come up with them. So when I first saw Verizon Wireless’ big new campaign called Share America – I was instantly engaged. It is a great concept involving an up and coming band (Hot Chelle Rae), a tour bus, multiple cities, and a concept to unite people across America by inviting them all to sing one of the most iconic holiday songs ever: Jingle Bell Rock. The video was just released on their Facebook page this weekend and has already racked up more than 25,000 likes and been shared nearly 7000 times. The YouTube version is taking off more slowly, with just 1000 views to date (but will likely pick up in the coming days). The problem with the campaign is that it makes the same mistake that many brands are making today with social media … they forget about the power of the people involved to create engagement and help the campaign succeed. Verizon isn’t the only brand to miss this opportunity. It happens all the time. So in an effort to use their campaign as a learning moment, here are five suggestions that could have amplified this campaign and used social media far more effectively to involve the people behind the video and make their shared passion for the project a much bigger word of mouth driver for others to engage in it.... [Rohit Bhargava shares valuable social media lessons and insight for brands ~ Jeff]
Instagram is most definitely its own beast. Businesses thinking they can parlay a Pinterest strategy into Instagram will be sorely mistaken, thanks to strikingly different user engagement styles on the two platforms. Without clear “transactional” support, Instagram is proving to be much more about brand building and brand allegiance. If your company doesn't hold the term "brand" highly, simply stay off Instagram for now -- there are other platforms more worth your transactional-based time. However, for the brand-conscience, recent metrics show Instagram might be a worthwhile marketing tool.... [Bryan Boettger offers insight into marketing on Instagram ~ Jeff]
To measure your blog’s success, start by setting your blog’s goals and determining which metrics are most effective to track your progress against these objectives. This holds whether your blog is B2C, B2B, not-for-profit (NFP), or solorpreneur. Most blog goals fall into one of nine major categories outlined below. To help you get your blog metrics on course, here are 65 options organized by goal to get your blog’s tracking going.... [Very useful tips for measuring blog success ~ Jeff]
In this special 'Ask Entrepreneur' feature, marketing expert Jason Falls discusses how business owners can convert followers into paying... In this special feature of 'Ask Entrepreneur,' Facebook fan Amy Clark Braden from Austin, Texas, asks: Which social network is better for converting followers into customers? So far we haven't had much luck with Facebook. What about Twitter or Google+? Converting customers through social channels is not as cut-and-dried as most business owners think it should be. Put yourself in your customer's shoes and ask, "Why would I engage with this brand on Facebook?" Often, the answer is not, "So I can buy stuff from them." Perhaps a better question to ask is, "Where would I buy things from a brand?" Chances are, Facebook is not going to be the first answer for many.... [Jason Falls answers a great question with practical suggestions for marketers ~ Jeff]
With so much data swimming around, knowing which metrics to pay attention to can be difficult. Knowing which ones matter to your company and which ones are simply vanity metrics is important if you are to improve your social media efforts... No matter what industry you’re in, data will always play a key part. Data provides certainly and cold, hard facts that can help businesses thrive. It’s no surprise that by their very nature, the Web and social media have sped up the progress of analytic tools, becoming faster and more accurate. It’s why the majority of social media sites offer up their own analytics tools and why there are many so many are looking for real stats to work from.
Yet sometimes having a lot of data at your fingertips can be a hindrance. Our analytics can be filled with so much data that it can be difficult to determine what data is useful. It can be dangerous to take one metric on its own at face value so a combination of different metrics can help paint a picture of how well your social media activity is going.
Type of Metrics
There are a number of different engagement types out there, but here are the ones you should keep in mind when you’re devising a strategy....
[Simply Zesty provides an excellent overview of social media measurement metrics. If you're serious about measuring ROI, this is a must-read. ~ Jeff]
These places celebrate the essence of the coffee bean, each in a unique and delicious way. Maybe it's all that caffeine in their bloodstreams, but talking about the world's best coffee gets people really amped. Countless varieties, roasting techniques, brewing preferences, and adornments yield dramatically different brews around the world, all with avid fans and vociferous critics. We've rounded up this list of 10 places that celebrate the essence of the bean, each in a unique and delicious way. There's a 100 percent chance that we've left off one of your favorites, though, so go to bat for your team in the comments.... [Several surprises for inquiring minds ~ Jeff]
With input from experts at ClickZ, this year's survey focuses on the key areas where digital marketers need to excel in order to ensure online marketing success: social media, mobile, personalization, and customer experience. The results reveal how:
* Social media has taken a valued role as a bona fide marketing channel
* Agility is crucial to take advantage of and understand new customer insights
* Testing throughout the conversion funnel helps marketers identify the direct links to conversion behavior... [Valuable report on best practices for better online ROI, free with registration ~ Jeff]
Twitter drives the most traffic of all the major social networks, but it’s Facebook that generates the most revenue, reveals a new study by Eventbrite. Shares made on Twitter trigger, on average, 33 visits to websites, compared to 14 for Facebook and 10 for LinkedIn. But the value of that share skews heavily in Facebook’s favour, with its $4.15 revenue rate more than twice that of Twitter’s ($1.85) and four times that of LinkedIn ($0.92). The value of a share across all social networks was $3.23, largely thanks to Facebook. Of note: the revenue worth of a share varies around the world, with Ireland being the marketer’s country of choice on both Twitter and Facebook, and France performing best for LinkedIn.... [Data for marketing and PR to ponder, but I still think it is very dependent on your product and the level of influence you're seeking ~ Jeff]
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The considerable amount of enthusiasm for Social TV is possibly only matched by the desire to know more about what is actually going on –- how the relationship between social media and TV actually plays out and what each delivers to the other.... The analysis shows TV to be relatively low throughout the day, only to climb significantly from late in the day into prime time, where it is the dominant single medium. More noteworthy, social media actually follows a similar pattern. Although attaining a higher level of use during the day than TV -– and while it is eventually surpassed as TV viewing rises late in the day -- the peak time for social media use almost exactly mirrors TV.... [Social TV is here ~ Jeff]
According to stats-meister Nielsen, in July 2012, US consumers spent 121 billion minutes navigating the shark-infested waters of social media. Facebook, Twitter, Pinterest and the rest — up 37% from July 2011 and that’s quite a feat. The majority of the time was spent using a traditional computer, but look at mobile. The larger square represents Apps, the smaller, cell phone looking icon represents browser use through a mobile device. Together, they show a 63% increase over last year.
Breaking the numbers down, Nielsen found that women were responsible for most of the social media usage both on the PCA and through mobile. Ages 18-24 ate up the most minutes on the PC but Ages 25-34 snuck ahead on the mobile site, but not by much. Ethnically, speaking Hispanics were way out in front on mobile usage with PC usage being fairly evenly divided.
[Valuable insight into social media trends and booming mobile sector for marketers, social media, PR pros ~ Jeff]
Eloqua has teamed up with infographic design firm JESS3 again to create Modern Marketing Insights, a series of 40 infographics using big data analysis that can help marketers anywhere. Did you know that dynamic content can improve conversions by 50%? Or that emails sent on a Saturday get the highest number of click-throughs? Were you aware that when influencers share your content on social it can result in a dramatic increase in traffic and conversions? That’s why we produce a chart every week that modern marketers can easily learn from and use. And it’s why we’ve gone back with our friends at JESS3 to reproduce the most indispensable data points, coming up with 40 understandable, actionable charts. Wide-ranging in scope, the charts hit the most important topics hitting marketers today – from social media to email.... [What a terrific marketing, social media resource! ~ Jeff]
Social media statistics from The Social Habit by Edison Research includes several very interesting data points about Facebook, Twitter and beyond. You think social media is reaching maturity, and the whipsaw behavioral shifts that change like a Dwight Howard trade request are things of the past? Uhhh, no. Released yesterday at Blogworld New York, findings from social media behavioral researcher Tom Webster and the team at Edison Research show some shocking changes in how Americans use and consume social media. You can access the entire presentation at The Social Habit microsite, but 11 social media statistics in particular stood out for me. Two quick notes: This is not data dredging. This is real, random sample, tightly controlled research from the same company that is the exclusive provider of Presidential exit polls in the USA.... [There were some social media research surprises worth noting ~ Jeff]
It's not going to be mobile-only... [This is a very powerful presentation on the future of digital. It impacts marketing, PR and every business. ~ Jeff]
Via Carla Bulhões
Retailers are mining personal data to learn everything about you so they can help you help yourself to their products. Black Thriday is over. So is Small Business Saturday and Cyber Monday. Today, in case you didn’t know, is either Green Tuesday or Giving Tuesday, depending on whether you feel like eco-shopping or giving to charity. Not sure what tomorrow may bring (How about Weird Relative Gift Wednesday?), but I suppose shopping does feel less chaotic if someone’s organizing it into theme days, although that doesn’t always stop it from devolving into a contact sport. Can you imagine American shoppers embracing something like iButterfly, a mobile app popular in Asia where customers earn coupons by tracking down virtual butterflies with their smartphones? Me neither. In the U.S., it’s about cutting to the chase and here the chase is after the sweetest deals, pure and simple, without having to bother with running after faux flying insects. And retailers have ratcheted up the competition, using the latest tracking technology to closely monitor their competitors’ pricing decisions and undercut them, in close to real-time, on their own websites. When Best Buy, for instance, published advertising saying it would be selling a $1,500 Nikon camera for $1,000, Amazon responded on Thanksgiving morning by cutting its price for the same camera to $997.... [Smithsonian offers a valuable marketing context for Black Friday shopping phenomena ~ Jeff]
It’s hard to escape hearing about social marketing platforms being acquired by major tech players these days. In May, Oracle purchased Vitrue for $300 million, in June, Salesforce scooped up Buddy Media for $689 million, and in July, Google joined in, acquiring Wildfire for $250 million. In the past year we’ve reached an inflection point within the social marketing industry. With these three tech giants gobbling up companies, it doesn’t seem to be slowing down--but what comes next?... [Fascinating look at social media's three key phrases: social listening; social management and the future which is collaborative marketing. Recommended reading. ~ Jeff]
You might be asking 'what are the biggest marketing trends for 2013?' or 'how can I leverage the latest marketing initiatives to improve my business?' Well I think the biggest shift change in how we go to market will be all about the social website. And that doesn't mean adding a share or like button to your home page. I honestly believe that within 3 years more consumers will be finding product information, reviews, news and information on your business through already established social networks than through company owned websites. The days of www.yourbusiness.com are limited. Imagine LinkedIn.com/yourbusiness, Facebook.com/yourbusiness or Pinterest.com/yourbusiness as 3 examples.... [Thoughtful reflection on the future of marketing through social media ~ Jeff]
IBM asked CEOs all over the world what they believe is going to happen with social media for the next three to five years. What they had to say was revealing. “For the first time in my career, I feel old. People in their 20s work and think about this social stuff in a different way,” a U.K. insurance industry CEO shared. “We’re using it as a way of connecting with friends and socializing; the kids coming up are using it as a way of life.”
But do most CEOs acknowledge what is happening with social?
Over half of the CEOs "expect social channels to be a primary way of engaging customers." [But are they committing resources and does social improve the bottom line? ~ Jeff]
Consumer commerce has changed radically over the past half century. Today, abundant supply is chasing relatively scarce demand, and new technologies have empowered individuals, giving rise to a new breed of consumer. Consumer commerce has changed radically over the past half century. Today, abundant supply is chasing relatively scarce demand, and new technologies have empowered individuals, giving rise to a new breed of consumer. "Consumer 3.0" is firmly in control of the shopping landscape. To succeed in this environment, all companies in every industry need to be engaging customers online and meeting their expectations, though the expectations bar has never been set higher. The world of retailing is no longer built around products but around consumers. It is critical in this environment that companies adopt a thoroughly customer-centric focus. Five principles can guide companies, pointing the way to strategies that captivate Customer 3.0 and turn the new market dynamics to competitive advantage. In this HBR webinar, Jeffrey Rayport explained the forces that have reshaped the consumer landscape and five principles that can help companies leverage the opportunities of the new reality....
According to early news reports (I'm writing this early in the morning after the storm hit), Hurricane Sandy has caused $20 billion in economic damage and at least 15 people have lost their lives. A million people have been under orders to evacuate their homes and 7 million people are without power. This is not the sort of story to promote cosmetics and fashion, two ideas on the HubSpot post. These sorts of frivolous newsjacking ideas give the concept of newsjacking (and marketers in general) a bad name because it is a blatant attempt to exploit a tragedy.... [This message bears repeating: A disaster or tragedy is not the time for marketing ~ Jeff]
A more nimble approach can help startups succeed. Traditional marketing planning (TMP) activities have been a mainstay for the past four decades, but the theories behind them have limited relevance for new ventures facing extreme uncertainty. The old routine of analyzing existing markets, predicting an optimal outcome, and then designing marketing plans to capture that outcome is too slow and cumbersome for today's startups. To be successful, new ventures must eschew these theories and instead rely on effectual marketing planning. This strategy uses a different set of management processes focused on speedy action, learning through failure, and a premeditated approach to market experimentation that creates instant feedback. It can help new ventures be more successful, more informed, and more fully understood. We saw firsthand how effectual marketing planning can be put to use when, earlier this year, we worked with a startup struggling with its marketing plan (or lack thereof).... [What is hypercycle planning for 500 points? ~ Jeff]
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