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By Kaloyan Gospodinov

These strategies will help you win and position yourself and your company in the best way this year.

A marketing strategy is the “plan identifying what marketing goals and objectives will be pursued to sell a particular product or product line and how these objectives will be achieved in the time available.” Keep in mind that you need to consider the following three pillars in your marketing strategy plan before execution:

  1. Core audience demographics
  2. Pricing and marketing budget
  3. Business goals

The following seven marketing strategies are vital for connecting with your target audience, achieving your marketing goals by promoting products and services, increasing brand awareness and engaging with your target audience through various channels.

1. Email marketing

Email marketing is an old concept that will be very relevant in 2023. Having lists of targeted audiences with a differentiated email structure for each can provide you with a great and “cheap” way to showcase the developments in your company and sell your products.

Here are three examples that you can implement in your email marketing. The first one is to increase your email interactivity. People are used to social media and the engagement they can give when reading or viewing content. Add videos, sliders, games and carousels of images that people can swipe.

The second one is the use of storytelling in your email copy. People are looking to connect to a brand’s values, and one of the best ways to do that is to tell your brand’s story. Tell them your origin story, show your personality, the company’s culture and team. Use videos, quotes and memes to build a relationship with your subscribers.

The last one is personalization. Personalization in the email body can improve your open rate by 13% and can increase the clickthrough rate by 28% while reducing the bounce rate by 18%.

Email is still thriving as you control how you approach your audience based on your marketing objectives without the need to comply with rules imposed by the platform you use.

2. Social media marketing

Social media marketing is here to stay, and we need to find the right platform for us to create content, connect with our audience and show our expertise or products. This will be dictated by your target demographics and where they spend the most time at.

It is also important to note that Business-to-Business (B2B) and Business-to-Consumer (B2C) companies will have specific platforms that can be used for their business model. For example, LinkedIn for B2B and TikTok for B2C. Remember that your audience can move to a different platform down the line.

One thing that you can integrate into your social media marketing strategy is to think of ways to incorporate user-generated content. This can be in the form of reviews, unboxing, tutorials, and product reviews. According to Stackla, 88% of consumers specify authenticity and relatability as crucial decision drivers to complete in-app purchases and increase their brand engagement.

The most important thing is to use your authentic voice and showcase the people in your company and their expertise, values and personalities.

3. Public relations (PR)

Another old-fashioned concept that still has a place in your marketing toolbox, especially in 2023. PR is relevant and can help you increase awareness around a milestone you’ve achieved or a product/ initiative you are launching. Media mentions will also help you with the SEO of your website/ brand name and how you rank in searches as you get authoritative websites mentioning your company.

According to Statista, the PR industry is expected to be worth $129 billion by 2025 or an increase of 68% from 2020, worth $88 billion.

4. SEO

Search engine optimization (SEO) is a must-do strategy in 2023. SEO aims to increase the searchability of your brand name and specific keywords relating to your offers while helping you grow traffic and sales.

Organic SEO can help you rank your content for specific keywords. I recommend learning how to do the basics of SEO in your content and focusing initially on long-tail keywords, as it will be easier for you to rank.

The main pillar in your SEO strategy should be creating high-quality content and targeting your customers’ needs and questions engagingly while targeting keyword phrases. Create evergreen content that will help customers understand your company and products better.

SEO can be integrated with paid ads so your articles can show on top of the search results.

5. Influencer marketing

Collaboration with influencers can help you scale your business in a short period by increasing your brand awareness and reputation. The key here is to research and get numerous quotes from different influencers so you can decide on the best deal.

I’d say that it’s not always beneficial to go for the biggest names in a particular niche, as your business might not be prepared for that growth. A better strategy will be to find smaller accounts with a more engaged audience so both parties can grow simultaneously and be more sustainable.

One growing trend in influencer marketing is live stream shopping, which means that potential customers can buy products through a live video. Influencers can showcase products, give opinions and answer questions from their followers about the product they are presenting. Instagram introduced Live Shopping in September 2022, which allows users to purchase products from Instagram Live directly, so expect this to be prioritized on the platform in 2023.

6. Virtual events

Virtual events are here to stay, especially after the last couple of years when travel was almost non-existent. Showing your expertise and value through online events can help you increase your brand awareness and reach. The list of attendees can be reused and segmented in your email communication, which will benefit your company in the long run.

Another strategy is to attract experts in the industry you are operating in and create an event where they talk about various subjects related to your company. The event videos can also be reused on social media in long and short-form videos.

7. Video marketing

The most important strategy in the last few years is video marketing. Closely related to hosting virtual events, video marketing can help you present your company from various perspectives.

People from your company can have topics they are working on and record video presentations for the world to see. Behind-the-scenes and company events can showcase the human side of your team, and the sky is the limit regarding creative ways to create video content.

Authenticity here is key as your willingness to open up in front of the camera so people can connect with who you are and what your company stands for.

Short vertical video content will be one of the biggest trends in video marketing in 2023. According to Zippia, 85% of U.S. adults own a smartphone as of 2022, and on average, Americans spend 5 hours and 24 minutes on their mobile devices daily. As vertical video content can take more real estate on a device and people are using TikTok, Instagram Reels and YouTube Shorts, you need to focus your time and creativity to investigate that type of video content.

The world is moving towards personal branding, and video is one, if not the best, way to open up to your audience.

Win with marketing in 2023

To summarise, test and see what works for you and your company. Do not focus and do all the strategies mentioned here simultaneously — experiment with what resonates with you as a personality and your business niche. Adapt and develop the best marketing mix for your desired outcome that will help you win in 2023.

By Kaloyan Gospodinov

Entrepreneur Leadership Network Contributor. CEO and Founder at Aezir. Kaloyan is an entrepreneur with global experience. Past successes include 1m+ app downloads, six figures from Amazon FBA, and managing a million-dollar crypto project. Currently, he advises Swiss biotech and runs a London marketing agency. His motivation is helping people pursue their dreams.

Sourced from Entrepreneur

By Anna Hensel

This is the latest installment of the DTC Briefing, a weekly Modern Retail column about the biggest challenges and trends facing the volatile direct-to-consumer startup world. To receive it in your inbox every week, sign up here.

As Shopify’s app ecosystem has grown, so too has the number of startups the e-commerce giant has invested in.

Two-year-old attribution vendor Triple Whale was the latest startup to announce it had received financial backing from Shopify; the platform participated in Triple Whale’s $25 million series B. Triple Whale did not disclose, however, how big Shopify’s check was. Triple Whale’s round was led by NFX and Elephant.

Many of Shopify’s investments have been done in tandem with making those startups the recommended or exclusive vendor for certain segments of Shopify’s business. For example, Klaviyo, which received a $100 million investment from Shopify last year, is now the recommended email solution for Shopify Plus. In turn, many of the businesses that rely on Shopify’s platform argue that this makes it easier for merchants to cut through the noise what integrations to add to their Shopify store. It also has resulted in Shopify working more closely with the startups it has invested in developing features together.

But Shopify’s investment activity also raises questions about just how heavy of a role it plays in picking favorites among the 8,000 businesses that have a solution within the Shopify app store. And, whether Shopify’s investments in some of these businesses are coming at a moment when these apps are already the default integration among merchants. Or, if Shopify is giving an early advantage to nascent startups, to the detriment of other companies that also rely on the Shopify app store.

How the e-commerce world has reacted to Shopify taking a heavier hand in startup investing shows just how differently the company is viewed compared to other tech behemoths with app stores, like Google and Apple. Shopify’s app ecosystem is made up of a number of different players: brands, business-to-business companies that build integrations for Shopify’s app store and agencies  that help brands build Shopify websites using some of those B-to-B solutions. If Shopify can convince brands and agencies that investing more in these B-to-B startups creates a better app store experience for them, the company can keep the discontent from some of the competitors of Shopify’s investments at bay.

As Patrick Johnson, CEO of development agency Progress Labs, put it: oftentimes, Shopify merchants come to developers or agencies wanting to know which one of, say, 15 different customer service integrations are best. When Shopify has invested in one startup over others, “there’s an assumption there that they maybe in the future are gonna have better access to stuff — maybe they get a fast lane, or maybe they make the development integrations more seamless.”

Shopify: the venture capitalist
Shopify has not disclosed how many startups it has invested in in total. The company declined to make an executive available for a phone interview about its investment strategy.

But a tally by Insider estimated that Shopify made seven startup investments in 2021, and nine the following year.

As the Triple Whale investment shows, many of Shopify’s startup investments aim to tackle some of the big endemic challenges that prevent more merchants from starting and growing on Shopify. These include high customer acquisition costs and difficulties adapting to the new privacy-focused digital marketing landscape.

Many of these partnerships are born out of the work these startups do for specific business segments that Shopify is looking to grow, ranging from the company’s enterprise-focused Shopify Plus offering, to its cross-border commerce tool Shopify markets.

For example, one of the co-founders of Sanity, an API-based content platform, wrote that his company’s partnership with Shopify began in 2021, “when they asked us to create the content application for a new developer ecosystem they were building.” In turn, Shopify made Sanity the only CMS integration on the app store for Hydrogen, its new headless framework, when it launched in 2022. That same year, Shopify invested an undisclosed amount in Sanity.

Oftentimes, the exact size of Shopify’s stake is only disclosed when those startups go public. Shopify took a roughly 8% stake in buy now, pay later provider Affirm after it made Affirm the exclusive buy now, pay later provider for its Shop Pay checkout service. Shopify and Affirm announced an undisclosed multi-year “extension” of their partnership last year.

And while Shopify still offers support for other buy now, pay later providers like Afterpay and Sezzle, the tradeoff is that it’s less seamless than using Shop Pay installments. If a user is on a Shopify site and wants to pay for an order using Afterpay, they are redirected to Afterpay’s site to complete the transaction.

What happens after Shopify places its bets
One of Shopify’s biggest, publicly-disclosed startup investments to date is the $100 million it invested last August in marketing automation startup Klaviyo. As part of the investment, Shopify also said it would give Klaviyo early access to certain Shopify features that are in development.

It’s worth noting that Shopify’s investment in Klaviyo came after another marketing automation startup, Mailchimp, has had a rocky relationship with Shopify over the years. Mailchimp pulled its Shopify integration in 2019, after squabbling over how to share customer data between the two platforms. Then, two years later, the two platforms made up.

Jake Cohen, who is the Head of Shopify at Klaviyo, said that Shopify’s investment in Klaviyo was “a token of the larger relationship” that already existed between Shopify and Klaviyo. Cohen was previously Klaviyo’s vice president of content, but following the investment became the point person for all things Shopify.

Essentially, Cohen says, Shopify’s investment in Klaviyo allows the two to work more closely together, for the benefit of Shopify merchants. The way Cohen sees it, there’s two buckets of work that Shopify and Klaviyo do together. One involves supporting merchants who already use Shopify and Klaviyo.

“[Shopify’s] merchant success team and our customer success team talk to each other,” Cohen said. “We do internal presentations to each other to make sure everyone understands what’s possible, we swap notes on trends that we think could benefit merchants in certain verticals.”  Cohen also said that Shopify and Klaviyo “will be doing a lot of events, educating [merchants] on what else they can be doing in the two platforms to basically improve their performance.”

The second bucket, Cohen said, involves trying to recruit merchants that aren’t yet using Shopify or Klaviyo, by pitching them on how seamless the ecosystem is because of how closely Shopify works together with startups like Klaviyo. For example, Klaviyo published a case study on its website about why footwear brand Kuru decided to switch from Magento to Shopify Plus – and, by extension, from Listrak to Klaviyo.

In essence, what Shopify is doing is using the fact that it invests in many of the businesses in its app store as a selling point over other e-commerce platforms.

How beneficial this approach is depends upon who in the Shopify ecosystem you ask. The way Shopify – and the companies it has invested in — see it, working together more closely can only make it easier for the brands and retailers that rely on Shopify to run their websites.

“What we believe… is that if you can pick providers that have very deep and rich integrations, and have a very clear emphasis on investing in user experience, as a merchant, you can get more things live, more quickly, with less resources and less cost,” Klaviyo’s Cohen said.

For some of the developers that work with Shopify, they argue that Shopify’s approach to investing in certain startups make it easier for the brands and retailers that rely on the e-commerce platform to spend less time worrying about which integrations are right for their business. And, they argue that at least Shopify isn’t trying to kneecap the companies that rely on its app store by building these integrations in-house themselves.

By contrast, Apple has been quietly pushing new ad products, and reportedly seeking to build out a demand-side platform after its iOS 14 update limited how much data platforms like Meta and Snap could collect on users, in turn hurting their advertising business.

“It makes part of our job easier, because we don’t have to write so much custom code. We can advise clients more on like a strategic level, and a system with integrations instead of having to write everything from scratch,” Mark William Lewis, founder of agency Netalico Commerce said.

Progress Labs’ Johnson said that as a developer, he would like more information on how Shopify chooses which startups to back, acknowledging that “it does play a role” in determining which integrations to recommend to clients. “Are they picking a winner? Or are they doing it because that’s the most promising one in the space?” he added.

Feature Image Credit: Ivy Liu 

By Anna Hensel

Sourced from Modern Retail

By

Are you looking to level up your team’s success using a project management platform? Before you jump in, you first need to have a contingency plan laid out. It might sound like big jargon, but having this one plan in place can make the difference between big failure or big success.

Ready to do the best you can in 2023 with your team? Here’s everything you need to know about a contingency plan in project management, below.

What is a contingency plan in project management?

A contingency plan in project management is important for creating a successful project and keeping your team on track. To put it simply, a contingency plan is basically an action plan for any unexpected event or changes that could come up throughout the project.

Here’s why creating a contingency plan is important for your team.

1. It minimizes the risk

Contingency plans minimize the risk of unforeseen events from becoming major problems by preparing for them in advance. By having a plan in place, your team knows how to respond and handle any risks that may come up throughout the project.

2. It helps identify weaknesses

By creating a contingency plan, your team can uncover any potential weaknesses in the project and address them quickly. This way, potential risks and issues can be handled before they become major problems.

3. It increases efficiency

Contingency plans help promote efficiency throughout the project. With a plan already in place, everyone knows what to do in the event of a problem, reducing the amount of time that is wasted trying to figure out what to do and how to address the issue.

4. It improves planning and control

Contingency plans allow for improved project planning and control. With a plan in place, it’s easier to track progress and ensure that the project is on track and everything is going according to plan.

5. It improves team communication

Having this plan in place also helps improve team communication and coordination. Everyone will be on the same page about how to handle any issues and there will be fewer disagreements and confusion.

Having a contingency plan in your project management strategy is essential for creating a successful project and keeping your team on track. By having a plan in place, your team can minimize risk, identify weaknesses, increase efficiency, improve planning and control, and improve team communication.

By

Sourced from Hive

By Tom Brand

Digital agency Found’s Tom Brand tells us that Google Analytics 4 is ushering in a new era of predictive measurement, enabling a ‘total search’ approach to bring search engine marketing and ad targeting together.

Predictive measurement is increasing in importance and capability, with advances in machine learning and Google’s GA4 deadline (when the old Universal Analytics will be discontinued in favor of this predictive measurement tool) approaching in July this year.

Google describes GA4 as “the future of measurement” so if you aren’t prepared to significantly shift the way that you strategize and structure your digital marketing campaigns in 2023, you’re going to get left behind.

This new era will make adopting a ‘total search’ approach a necessity. Doing so provides multiple business benefits, beyond just keeping up with competitors.

A holistic view of search

There are two questions we have to start by asking ourselves. First, are you technically prepared to move from Universal Analytics to GA4? Quite simply, you must fully prepare your business to make that reporting transition.

And, second, has your marketing function shifted its strategic approach to search engine marketing (SEM) in order to best make use of the holistic activity view that predictive measurement facilitates?

If not, expect your competitors to lead the way. Those who are taking a holistic view of their digital presence and search efforts are already learning from and improving their marketing efforts at scale. How? Because they are effectively using predictive measuring tools.

Predictive measurement uses a non-siloed view of online activities and machine learning to deliver insights on overall marketing success. To fully leverage the amazing potential of predictive measurement tools like GA4, you should expand your approach to digital activities, including search engine marketing efforts, and start employing a more holistic (and strategic) mindset.

What is total search?

Put simply, total search is the viewing of multiple performance marketing channels as one cohesive, collective whole. Channels like search engine optimization and pay-per-click easily become siloed and even compete to drive value. Total search, as a data-led approach, aligns all digital marketing activities to ensure the achievement of shared digital goals.

It doesn’t matter which channel drives results for your business. As long as your brand sees growth, senior leadership will be encouraged to invest in your team.

How a total search approach to digital marketing can help you compete

There are two types of prospective customers online: those searching for you (who you need to get in front of using SEM); and those who are casually browsing (who you want to search for and target with your ads). With a total search approach you can ensure that you strategize and devise campaigns designed to work for both kinds of prospective customer with a singular goal: conversion.

To have a fully optimized conversion funnel for your business in 2023, you need to be viewing the very top of that funnel in 3D. Why? Because predictive measurement tools facilitate that kind of advanced analysis, and because a total search approach creates digital marketing activities that consider and cover the entire top rim of that funnel.

Why you should adopt a total search approach

First, a total search approach helps you to maximize search engine results page (SERP) coverage. It’s all about gaining greater online visibility and creating as many opportunities as possible for your brand to get discovered in search.

Second, it gives a 360° view of the top of your funnel. The modern digital customer experience is rarely a traditional, linear journey. It’s more like a fly buzzing around inside of a jar; bouncing around from pillar to post and experiencing your brand from different angles, in multiple different directions. You need to ensure that your brand presents consistently, no matter how a user finds you.

Third, it can help you to spend money more efficiently. Allocating the right budget to the right places is a priority for every marketer. Adopting a total search strategy will allow you to make better decisions about your marketing budget.

Fourth, with total search you can make faster and more informed decisions, taking insights gleaned from every area of your search performance to make decisions with a far richer and wider collation of data sets. By looking at your search data holistically, you can learn far quicker than by looking at each individual element of search performance in a silo.

And finally, total search will improve your organic search and paid media efforts simultaneously. You can combine the data view from all of these activity channels to determine which keywords actually drive you the most traffic, conversions and revenue – allowing you to optimize all activities at the same time.

Whether it’s Google search, a Facebook ad, or a TikTok that gets a user’s attention, a total search approach will allow you to benefit from predictive measurement and maintain ownership of your brand’s digital presence. If you haven’t already, you must add this to your year’s strategy.

Feature Image Credit: Marten Newhall via Unsplash

By Tom Brand

Sourced from The Drum

Sourced from BOSS Magazine

Are you looking for ways to improve the results you get from your search engine marketing (SEM) efforts? It’s a common situation for business owners to be in and one which requires a carefully chosen combination of tactics and tools to conquer.

Stick with us, and we’ll discuss a few key tips to ensure that your SEM campaigns reach their full potential rather than falling short of your expectations.

Consider Hiring A Performance Marketing Or Growth Marketing Agency

The first step in getting the most out of your SEM campaigns is to consider hiring a performance marketing or growth marketing agency.

Such agencies specialize in helping businesses maximize their digital presence by leveraging paid and organic search strategies, optimizing websites and landing pages, as well as implementing SEO tactics.

Having an expert team on hand can help ensure that all aspects of your SEM plans and ambitions are taken into account when it comes time to make decisions about how best to reach customers online. There are different types of growth marketing out there, so make sure you choose an agency that’s aligned with your aims and is able to deliver what you need.

Understand Your Customers

Another important piece of advice for those aiming to optimize the outcome of SEM is that you need to understand who exactly it is that you are targeting with these campaigns.

What do they care about? What type of content will draw them in? What are their needs, wants, and pain points?

Are you looking for ways to improve the results you get from your search engine marketing (SEM) efforts? It’s a common situation for business owners to be in and one which requires a carefully chosen combination of tactics and tools to conquer.

Stick with us, and we’ll discuss a few key tips to ensure that your SEM campaigns reach their full potential rather than falling short of your expectations.

Having an expert team on hand can help ensure that all aspects of your SEM plans and ambitions are taken into account when it comes time to make decisions about how best to reach customers online. There are different types of growth marketing out there, so make sure you choose an agency that’s aligned with your aims and is able to deliver what you need.

Understand Your Customers

Another important piece of advice for those aiming to optimize the outcome of SEM is that you need to understand who exactly it is that you are targeting with these campaigns.

What do they care about? What type of content will draw them in? What are their needs, wants, and pain points?

Knowing this information can help inform every decision made related to keyword selection, ad placement, and more – ultimately leading to higher returns on investment (ROI).

Get To Grips With Keyword Research

We just mentioned the importance of picking the right keywords to leverage in SEM campaigns, and as well as knowing your audience, you have to be savvy about getting a handle on keyword research.

This involves looking into what terms and phrases your prospects use when searching online so that ads and other content align with customer intent – meaning more relevant impressions and better ROI overall.

You can use keyword research tools to do a lot of the hard work for you, but you still need to revise, refresh and update your approach to this aspect of SEM regularly to avoid missing trends and movements.

Make Sure Your Efforts Are Geographically Targeted

The last key tip for maximizing outcomes from search engine marketing efforts is making sure they are geographically targeted correctly.

This means focusing on users only within the areas where there’s demand – whether city-level or country-level – using geo-targeting tools like Google Ads location settings or Facebook Audience Insights tool.

By doing so, you can ensure maximum impact at a minimum cost since you’ll avoid having your paid campaigns shown to users who are not within your target audience. In an ecosystem where clicks cost you money, you can’t afford to be too general in how you target search ads, and location-based filtering is an efficient option for preventing this.

Final thoughts

Don’t be worried if you feel a little overwhelmed by the prospect of rethinking your SEM strategies. It sounds like a tall order, but once you actually get started, it’ll get easier along the way.

Of course, if you work with an outside marketing agency, then it’s a breeze to bring new momentum to the performance and impact of your paid ads, as well as to any organic SEO that you implement. It won’t take long for you to see that this is money well spent.

Sourced from BOSS Magazine

By Michelle Smith | Edited By Chris Kissell

Planning to retire? You literally can’t afford to ignore these 10 realities.

Whether you’re planning for early retirement or counting down the days until you can claim your pension and move to Florida, we’re guessing your dreams for old age are full of good times and easy living.

But if you ignore some tough realities about getting older, your golden years can end up gloomier than you were hoping.

Avoid a rocky retirement by wising up to these 10 hard truths about getting older.

Do you dream of retiring early?

Retiring early is a goal for many, but few of us have a plan for how to actually do it.

Instead we have questions like… How much money do we need? Where should we keep that money?

A financial advisor can help you sort through your options and come up with a solid plan. Get started today by taking this quiz from SmartAsset to get matched with a vetted financial advisor in your area.

1. Most 65-year-olds will live for another 20 years

It’s impossible to predict just how long you’ll live after retirement, but a typical U.S. adult who is 65 today will live another 20 years, according to the Social Security Administration.

About one in three will live until they’re 90, and one in seven will live until age 95 — around 30 years after the typical retirement age.

A long life is something to celebrate, but a high quality of life doesn’t come cheap. The brutal reality is that the longer you live, the more money you’ll need to have saved during your working years to maintain a nice standard of living.

2. 32% of older adults will be working in 2030

In the year 2000, just 19% of adults between the ages of 65 and 74 were still part of the American workforce, as were 5% of adults age 75-plus, according to a J.P. Morgan report. Over the next two decades, those numbers jumped to 27% and 9%, respectively.

The percentage of Americans working between ages 65 and 74 will likely increase to 32% by 2030, while 12% of Americans 75-plus will do the same.

What does this mean for your future? Depending on how close you are to retirement right now, there’s a 30% chance you’ll still be an active part of the American workforce a decade down the road.

While 52% of retired adults say they work to maintain a sense of connection, 27% work so they can afford extras and 17% say they have to work to make ends meet.

3. You should have saved at least 10% of your income

It’s a solid financial rule of thumb to save 10% to 15% of your income — at minimum — solely for retirement. So, if you earn $50,000 a year, you should put no less than $5,000 into your retirement account.

If you’re still working and aren’t currently saving 10% or more each year, increase your savings. If you’re near retirement and haven’t saved this amount, count on living off less once you retire.

4. Not saving early makes it tougher to create a big nest egg

Thanks to the reality of compound interest, saving early and consistently almost always build a bigger nest egg than investing in a retirement plan later in life.

An investment with compounding interest means you don’t just earn interest on the sum you initially invested, but also earn interest on the interest itself.

The earlier you invest, the more time you will have to let compound interest work its magic. By contrast, the longer you wait to start investing in your retirement fund, the less time you have for your investments to grow.

That means those who procrastinate need to save larger amounts of money to retire comfortably compared to if they had started preparing for retirement in their 20s.

5. Pensions are becoming less common

Pensions, or fully employer-funded retirement benefits, were more common 50 years ago than they are today.

Just over 50% of the Silent Generation retired with a pension, J.P. Morgan says. That means they were guaranteed a post-retirement stipend that they could supplement with their own savings to maintain a high quality of life into their golden years.

However, pensions are much harder to find today. Overall, just 30% of U.S. households have a pension. Today’s American workforce relies on self-funded retirement vehicles like 401(k) plans.

So, no matter how old you are right now, your ability to live comfortably in retirement will likely depend on your own savings. Aside from a 401(k) plan annual match — which you should take advantage of if you can — do not expect a lot of help from an employer.

6. Don’t withdraw more than 4% annually from savings

If you want your retirement savings to last the rest of your life, many experts say you shouldn’t withdraw more than 4% of your retirement savings each year.

That limit doesn’t give you much spending flexibility, so you might need to stick to an even stricter budget once you retire.

Additionally, if you live well into your 90s and beyond — or if your investments perform particularly poorly — you might run through your savings before the end of your life even with that 4% cap.

That’s especially true if a medical condition or family emergency requires you to withdraw a large amount from your retirement fund for a few years in a row.

Pro tip: Worried you might not have enough in savings to finance a long retirement? Look into the many ways you can make extra cash to build your nest egg.

7. Housing makes up 41% of expenses for older adults

Conventional wisdom holds that you won’t need as much money to live off once you’re retired, but the difference between your pre-retirement and post-retirement spending might not be as big as you think.

For Americans between the ages of 35 and 44, housing expenses account for more than 41% of their annual spending, J.P. Morgan says. For Americans 75-plus, that number drops — but only to 38%.

If more than one-third of your dollars are going into housing right now, count on that trend continuing into retirement.

8. Social Security checks won’t go as far as you think

In 2022, the average Social Security benefit is nearly $1,700 a month. If you postpone receiving benefits until age 70, your monthly check will be much higher than that average.

Still, it is tough to live on Social Security alone, and the Social Security Administration notes that the program was never designed to entirely fund retirement.

So, if you’re planning on living off of Social Security alone, you should probably think again.

9. You’ll spend more on health care once you retire

While costs like transportation go down in retirement, health care costs tend to increase significantly. Americans between the ages of 35 and 44 spend just 7.3% of their budget on health care costs, but that percentage nearly doubles to 14.2% for Americans 75-plus.

How much you will actually spend depends on factors such as how long you live, how active you stay, and what medical conditions you develop. But many retirees can expect to spend more on health care as they age.

10. Older adults are more likely to develop disabilities

About 36% of adults 65 and older report having at least one disability, according to the U.S. Census Bureau. This is a natural consequence of aging and partially helps explain why health care costs increase as you age.

However, if you have the misfortune of developing an expensive disability — especially early in retirement — it will be even tougher to extend your savings over the next several decades.

Bottom line

It’s hard to confront some of the harsh realities of getting older. But the earlier you face these truths and start financially preparing for your future, the better.

Planning for the changes that come with growing older can help you avoid throwing money away and put you in a position to enjoy the hard-earned retirement you’ve always hoped for.

By Michelle Smith | Edited By Chris Kissell

Sourced from Finance Buzz

By Chad S. White
From confusing signup forms to dead-end confirmation pages, learn what to avoid to maximize every signup interaction.

I recently signed up to receive promotional emails from 100 B2C brands that span the retail, travel, consumer products and media industries. I noticed five major areas of opportunity for brands to improve their signup processes:

1. Signup Forms Often Hard to Find

Unmissable signup modals and other popups are common, but far from universal. When not used, brands almost always include their email signups in their footers. If nowhere else, consumers expect to find them there, although that doesn’t mean that brands can’t increase their visibility by also including signups above the fold, but few do. Brands should seriously consider that, as many B2C homepages have grown significantly longer in recent years, which means a lot more scrolling.

Brands can also boost promotional email signups by including an actual signup form on their homepage footer. Some merely include a signup link, which is often mixed in with lots of administrative links and therefore easy to miss.

2. Too Many Ask for Phone Numbers

There’s no faster way to crater your signup form completion rate than asking for multiple forms of contact information. For that reason, I always advise brands to focus first on collecting email addresses, which is the form of contact consumers are most open to with brands.

A number of brands were clearly aware of the danger of asking for too much contact info, but instead of asking for mobile phone numbers post-signup, they included an email address field on the first page of the signup and then a required mobile phone number field on the second page.

This is likely to stop many would-be subscribers in their tracks, causing them to abandon the form. Beyond that, it then raises questions about whether the person is subscribed to the brand’s promotional emails and whether they’ll get the signup incentive that was promised. That’s a lot of anxiety and a lot of unanswered questions that have been introduced to the interaction, which may cause the person to become frustrated and angry and look to other brands.

For my part, I wasn’t interested in receiving SMS messages from any of the brands I approached, so I abandoned every signup form when I encountered this scenario. Roughly half of the time, I ended up receiving promotional emails from the brand. The others didn’t capitalize on my interest because of their overreach.

3. Unclear and Misleading Signup Commitments

Part of the issue around asking for mobile phone numbers appears to stem from many of these signup forms actually being for loyalty programs and not email programs, with the former often requiring phone numbers for some reason. That said, based on the signup appeals for these forms, it’s usually impossible to know what you’re signing up for.

That’s because these forms are almost entirely focused on promoting a signup incentive, especially when a modal is used. That emphasis undermines the relationship these programs are trying to establish and sets brands up for higher unsubscribe rates soon after signup.

4. Dead-End Confirmation and Preference Pages

When someone raises their hand and signs up to hear from your brand, that’s a moment of high engagement. Unfortunately, many brands don’t make the most of this positive momentum. In lots of instances, signup confirmation pages only confirm the signup and don’t direct new subscribers to do anything else of value.

Some brands do direct their new subscribers to select preferences — with standouts like CNN, Levi’s and Bass Pro Shops offering lots of detailed choices. However, at the end of that process, many of the brands collecting preferences also let the momentum fade by not trying to drive the next high-value action.

Ask yourself, “What’s the next one or two most valuable things a new subscriber could do?” And then build that into your signup process. Then ask yourself that same question again, and add that in. If you ask people to only do one thing, you’re unlikely to get them to do much more than that. Whereas if you ask folks to do three things, then many will do two of them and some do all three. Be optimistic!

5. DOI Increasingly Used

Eight of the 100 brands I signed up for use double opt-in confirmation for their homepage signup form. While objectively that’s a small percentage, it’s much higher than just a few years ago.

This increase in adoption is a positive sign, given the ongoing targeting of open forms (such as homepage email signup forms) by bots and the launch of Apple’s Mail Privacy Protection, which makes it hard for brands to determine if new subscribers are engaging. There is a wide spectrum of audience acquisition sources, each of which have their own risk-benefit profile. Make sure you’re selectively using tools like CAPTCHA, double-entry confirmation and DOI to protect your brand and email deliverability.

Final Thoughts on Maximizing Email Signups

With businesses preparing for a likely recession, while simultaneously trying to adapt to the sunsetting of third-party cookies and privacy changes like Apple’s MPP, growing first-party audiences has become increasingly critical.

If you haven’t audited the signup process of each of your acquisition sources in the past year, I highly recommend you make it a priority so you can maximize audience growth and create fruitful, lasting relationships.

By Chad S. White

Chad S. White is the author of Email Marketing Rules and Head of Research for Oracle Marketing Consulting, a global full-service digital marketing agency inside of Oracle.

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A bankruptcy filing revealed new information about how the crypto exchange spent money on consultants, think tanks, and business relationships.

A filing in FTX’s bankruptcy proceedings is shedding light on the true extent of the crypto-trading powerhouse’s influence-peddling operation. Last week, FTX filed its creditor matrix, a document that lists former vendors and investors to the company.

The list includes nearly a dozen public relations experts — specialists who generate positive spin in the media on behalf of clients — as well as political consultants, think tanks, and trade groups.

Sometimes, the money went directly to political operations; Majority Forward, a dark-money group designed to elect Senate Democrats, received cash. In some cases, the hired guns, such as PR firms, were paid directly for their services. In others, the groups that received donations maintain that they are independent, but had interests aligned with FTX.

The filing, for instance, listed a donation to the Center for a New American Security, a prominent national security-focused think tank in Washington, D.C., that has worked to shape crypto regulations.

The filing offered a look under the hood of FTX’s intricate maze of influence. On the heels of its meteoric rise as a crypto exchange, FTX quickly began to spend extraordinary amounts of money to buy prestige and friends in high places. Now that the firm stands accused of siphoning off billions of its investors’ dollars — with its disgraced founder Sam Bankman-Fried charged with fraud in the matter — increased scrutiny is falling on powerbrokers’ dealings with FTX.

The relationships of many of the entities listed in the bankruptcy filing and FTX were already known — the company complied with lobbying disclosures for some of its consultants — but the creditor matrix shows the crypto giant also retained several previously undisclosed professional influence peddlers.

One seasoned political hand tied to FTX without any disclosures is former New York City Council Speaker Corey Johnson. His firm, Cojo Strategies, is featured in the FTX vendor list. Another is Susan McCue, a former aide to Sen. Harry Reid, D-Nev., who has advised many Senate Democrats and played a role in the leadership of several Democratic super PACs and dark-money outfits. Her firm, Message Global, is in the filing.

Other consulting firms with a finger on the pulse of power are sprawled through the creditor matrix, which runs over 116 pages. Another creditor, Patomak Global Partners, a firm that specializes in influencing financial regulators, is led by Paul Atkins, a former Securities and Exchange commissioner. Atkins’s company touts its roster of former government officials as providing “a telescope to anticipate trends on the horizon to help position our clients for long-term success.” (Neither Johnson, McCue, nor Patomak responded to requests for comment.)

Think Tank Crypto Regulations

The donation to CNAS — a powerful think tank with ties to both political parties but known for staffing national security roles in Democratic administrations — came at a time when the organization advocated for crypto regulations with a light touch.

“To compete in the digital-economy race with China, the United States must foster a more innovative fintech environment,” CNAS fellow Yaya J. Fanusie said in testimony to the Senate Finance Committee on July 14, 2021. “If U.S. securities regulation does not evolve to account for the new technical and entrepreneurial capabilities offered by blockchain technology and broadcast data transmission, the United States could be hamstrung in a data revolution that is only just beginning.”

CNAS also maintains a task force on crypto, on which FTX formerly served as a member. The task force corresponded with national security-focused government officials, offering policy advice that reflected the crypto industry’s contention that digital tokens on the blockchain pose a low risk for terror financing.

A readout of a CNAS meeting with the Treasury Department’s Brian Nelson, the undersecretary for terrorism and financial intelligence, included a summary of the discussion and noted that the official “recognized the work of many in industry to engage in constructive dialogue and support government efforts to mitigate the misuse of virtual assets for money laundering.” The use of crypto for “illicit activities remains below the scale of traditional finance,” Nelson said.

FTX Creditor Matrix Filed in Bankruptcy Proceedings116 pages

CNAS’s task force is co-chaired by Sigal Mandelker, who used to hold Nelson’s position at the Treasury before resigning in 2019 to enter the private sector. Mandelker now serves as general partner of Ribbit Capital, an investor in FTX. Mandelker spoke at SALT’s Crypto Bahamas conference last summer. The invite-only conference for “leading players in the crypto and traditional finance industry” also featured talks from Bankman-Fried, former President Bill Clinton, and ex-British Prime Minister Tony Blair.

Mandelker’s talk at Crypto Bahamas was on maintaining permissive crypto regulations.

“The instinct of government is often to focus on risk and not to put as much emphasis on opportunity,” she said. The true risk regulators should be wary of, Mandelker continued, was “shutting down [crypto] innovation.” (Mandelker did not respond to a request for comment.)

“CNAS received a $25,000 donation from FTX in 2022 in general support of CNAS’s independent research on national security,” Shai Korman, CNAS’s director of communications, told The Intercept. “FTX was also a member of the Task Force on Fintech, Crypto, and National Security. FTX is no longer a member of the task force, and CNAS has returned the donation in full.”

PR, Law Firms, and Video Games

FTX once enjoyed a near-mythical status in the media, with splashy cover stories and gushing news articles lauding the crypto powerhouse and Bankman-Fried, its youthful leader. Such coverage rarely emerges organically, and FTX hired an army of public relations firms to burnish its image.

Among them was M Group, a New York-based public relations powerhouse known for its Rolodex of elite journalists. Others under the employ of FTX included TSD Communications and Full Court Press Communications.

The creditor list includes Rational 360, a public relations firm led in part by former White House Press Secretary Joe Lockhart. Emails obtained by Matt Stoller, the director of research at the American Economic Liberties Project, show that Rational 360 pressured activists and political influencers to speak out in favor of a bill that would move crypto regulatory authority to the Commodity Futures Trading Commission. While the Securities and Exchange Commission handles many enforcement actions against crypto firms, the CFTC is seen as more friendly to crypto interests and has fewer disclosure requirements.

Powerhouse law firms also feature heavily in the most recent bankruptcy disclosure. One firm listed is Cleary Gottlieb Steen & Hamilton, which represented Russia in a $3 billion bond dispute against Ukraine before it shuttered its Moscow office last year. Buckley LLP, another large law firm based in Washington that appeared on the FTX creditor list, announced earlier this month that it would merge with the San Francisco-based Orrick to create a combined firm with a total of nearly $1.5 billion focused on “forward-looking regulatory and enforcement advice” in the fields of finance and tech.

Among FTX’s listed creditors were a handful of nations — though the contours of the financial relationships remain unknown. Nevertheless, the list of countries reads like a who’s who of nations with lax financial regulations: The British Virgin Islands, Bermuda, the Cayman Islands, Isle of Man, Liechtenstein, Luxembourg, the United Arab Emirates, Seychelles, and Switzerland all appear in the filing.

In addition to national banks and powerful firms in the corporate PR world, the creditor matrix also details luxury restaurants like Carbone in Miami and the luxury Margaritaville resort in Nassau.

The North America League of Legends Championship Series, a property of a premier video game event franchise, is also listed in the creditor matrix. Bankman-Fried, notorious for playing the video game “League of Legends” during pitch meetings with investors, arranged a $96 million sponsorship deal with Riot Games. In December, as the extent of FTX’s deception unfolded, Riot announced it would attempt to cut ties with Bankman-Fried.

The entertainment relationships provided, in some cases, an additional channel for political access. The creditor list includes the talent agency WME, with a memo mentioning actor Larry David, a celebrity endorser of FTX who appeared in a now-infamous Super Bowl commercial promoting the crypto exchange.

WME itself is owned by Endeavor, an investor in FTX that owns 38,000 shares of the company. Endeavor is also run by Ari Emanuel, the brother of Rahm Emanuel, President Joe Biden’s ambassador to Japan.

Editor’s Note: In September 2022, The Intercept received $500,000 from Sam Bankman-Fried’s foundation, Building a Stronger Future, as part of a $4 million grant to fund our pandemic prevention and biosafety coverage. That grant has been suspended. In keeping with our general practice, The Intercept disclosed the funding in subsequent reporting on Bankman-Fried’s political activities.

Feature Image Credit: Sam Bankman-Fried, co-founder of FTX, departs from court in New York City on Jan. 3, 2023. Photo: Stephanie Keith/Bloomberg via Getty Images

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Sourced from The Intercept

By Ksana Liapkova 

Social media has replaced traditional media, so it’s time to funnel your marketing budget into a better, more reliable strategy

Recent projections show that social media networks are expected to have more than 327 million regular users in the U.S. alone by 2027. In the global community, there are currently over 4.2 billion active users.

Consumer shopping habits are shifting more toward the online space, and traditional media is rapidly losing any meaningful effect on driving traffic, generating leads or encouraging customer loyalty.

Because of this, it’s no longer optional for brands to invest the time and resources needed to develop and maintain an engaging, active social media presence across all relevant platforms. Here are five ways the ConvertSocial team suggests to bring a solid social media presence that can work for your brand.

1. It is cost-effective marketing

Social media is free advertising for your brand. Even if you pay for boosted posts on Facebook or Instagram, it still typically costs less than a full-fledged digital marketing campaign.

In addition, it can often be more effective to have an active social media account because it allows people to share your posts with others, boosting your reach and engagement even further in an organic way. Brands like Moon Pie and Duolingo are great examples of this strategy. Duolingo’s TikTok presence earned them a clickthrough rate 9% higher than the market average and rocketed them to the top of the charts in the Apple and Google Play stores.

2. It boosts search engine visibility

Establishing active social media accounts increases user engagement and site traffic, but it also helps to boost your search results placement organically. It isn’t a direct factor in SEO strategy, but it does prove to Google that your brand has value and trust, which is critical for better search results.

It’s important to remember that social media sites have strong search engine capabilities in their own right because they know that users tend to search for what they want on their platform first. This means that including a little bit of strategic SEO when creating engaging social channel content can help more people connect with your brand’s profiles, increasing likes, shares, comments and backlinks.

All of this helps generate “social signals” that show Google people are interested in your content. In turn, this pushes it higher in search results.

3. It gives your brand a human touch

A recent survey found that 78% of users are more willing to buy from a company once they’ve had a positive social media interaction. This could be a customer support chat or a positive comment exchange on social media content.

Over half of the survey respondents feel great about a brand simply when they feel the company’s content is creative and relevant to them as customers, so creating these positive feelings is not difficult. In fact, a Sprout Social survey noted that 61% of consumers think that audience engagement is the most important part of a brand’s social media presence. These positive interactions show your audience that your company is made up of real people who are just like them, strengthening your “human connection” and customer loyalty.

Related: Here’s One Reason Why Your Business Could Be Failing

4. It creates a community within your target audience

Every successful brand has a brand community. This is the core group of people who identify with your brand’s persona and share many important traits with each other. Brands that can create a strong community within their niche are able to transform themselves from a storefront to a lifestyle, which goes a long way toward solidifying customer loyalty.

Communities are where you convert potential customers and deepen the emotional ties with existing customers. When people feel like they belong to something greater than themselves, they’re more eager to become further enmeshed in the lifestyle and share it with friends and family.

The important thing here is to create a genuine sense of connection. For example, Friendster’s community failed in the early 00s because it didn’t link people together in a truly meaningful way. Conversely, Red Bull has created a close-knit global community thanks to word-of-mouth and a dynamic social network.

5. It keeps your name at the forefront of customers’ minds

Statistics show that 55% of consumers learn about new-to-them businesses through social media. On top of this, at least 90% of shoppers buy from brands they follow on social media channels, and 40% actively seek out recommendations for products and services through social media platforms.

This means that an active social media presence is a simple way to keep eyes on your brand. In an era where commercials often result in a negative ROI, this is a meaningful way to generate interest in your brand.

Social media has an advantage over traditional media because it provides a two-way street for communication. Now, instead of brands simply talking to their audience, customers can talk back and engage in a dialogue. When people feel seen and heard by a brand, they are more likely to think of that brand first when making a purchase or recommendation.

Your business needs social media, so don’t wait for another second

It’s not too late to establish an active social media presence, but it’s essential to do it sooner rather than later. Customers want the experience of interacting with a like-minded community of other brand lovers and the brand itself. They need to see the human side of your company, and you need advertising channels that are proven effective.

By Ksana Liapkova 

Entrepreneur Leadership Network Contributor. Head of Admitad ConvertSocial. Ksana has been a speaker at world-class conferences on affiliate marketing and is in contact with more than 35,000 clients of Admitad ConvertSocial, involved in the blogging industry, which allows her to always be aware of the latest trends in the world of influencers.

Sourced from Entrepreneur

By Chitra Iyer

What you need to ask if you want to better understand, influence and measure your own dark funnel in 2023.

Remember the quote of debatable origins that goes something like this (I’m paraphrasing), “I know half of my advertising works. I just don’t know which half.”

The conversation around the “dark funnel” is giving B2B marketing a similar identity crisis.

The carefully constructed and measurable B2B buying funnel is not as linear and clear-cut as marketers would like to think. There are multiple nonlinear touchpoints, that we cannot control, influence or measure, but which significantly impact the buying decision. And they make up 75% or more of the path to purchase. All such unknowable, unmeasurable, un-influenceable touchpoints are, in a nutshell, the “dark funnel.”

Naysayers say what can’t be measured can’t be managed or improved. Supporters say it’s a part of the buying process, accept it or not. So, what’s an already overwhelmed B2B marketer to do?

My money is on the “don’t ignore it” camp. If you embrace the dark funnel, then you have a shot at understanding it, and indeed, making it less unknowable, uninfluenceable and even perhaps less unmeasurable.

As Paul Slack, founder and CEO of B2B digital marketing agency Vende Digital wrote in a recent LinkedIn article, the dark funnel and dark social are simply where buyers learn to buy. He added not to be afraid of the dark funnel, but adapt instead and recommended becoming part of the learning and discovery journey by educating buyers with social posts, community, monthly Zoom meetings and podcasts.

To help understand the dark funnel, I dove into — (where else?) — the dark social. I trawled dozens of conversations, comments and resources to pick these three questions you should be asking if you want to better understand, influence and measure your own dark funnel in 2023.

1. Does Our Organization Have a Clear Understanding of the Dark Funnel?

Two areas of confusion emerged repeatedly across conversations on this topic.

Does the Dark Funnel Mean Word-of-Mouth?

The dark funnel is not just word-of-mouth (WoM). It is also ads people see but don’t click on, podcast mentions that they later Google, or event sponsorships, swag and conversations filed away in the prospect’s mind for a later time.

But WoM matters too. Perhaps more than ever in an age when it’s become hard for prospects to tell what’s an advertisement and what’s real, unbiased feedback. People trust other people over brands, but the nature of “known and trusted” has changed. Digital WoM is often “one-to-many” conversations on social or private channels, communities, Q&A forums, webinars and events, product review sites, webinar chat boxes and so on. The enabling space for this digital WoM is the dark funnel.

Is Dark Social the Same as the Dark Funnel?

Chris Walker, founder and CEO of Refine Labs, makes a clear distinction. He calls “dark social” the places where “everyone in B2B hangs out right now” — communities such as Pavilion, Peak and DGMG; internal company communication platforms like Slack and Discord channels, private channels and closed Facebook groups; third-party events and meetups, social platforms, podcasts, etc.

In dark social, the buyer is likely not yet “ready to buy” but is soaking in peer-to-peer learning. Together, via discussions, shares, DMs and content consumption, people are discovering problems, opportunities, solutions and products, evaluating their own performance, learning how others are solving similar problems and so much more. “The dark social does not show obvious intent. But if you are waiting for intent signals to start your engagement and nurturing, you are already too late,” said Walker.

So where does the dark funnel begin? After spending a long period on dark social, when learning, shortlisting and evaluation have already happened, people often transition to the dark funnel. They then come to organic search and review sites — aka the dark funnel, and finally on to your website. This shows up as “direct traffic,” “other sources” and “organic search traffic” on your Google Analytics reports.

Note that this is not a linear transition — prospects may weave in and out of both for a long time before they respond to any inbound marketing tactic if they do at all.

Expert tip: On an episode of the Demand Gen Live podcast, Chris Walker highlights a common mistake — not recognizing that much of their site traffic has already been through the dark social and the dark funnel. That means knowledgeable visitors are automatically pushed into nurture workflows when in reality, this prospect is close to a decision.

What can you do instead? Replace standard form fills and nurtures with bot-powered contextual conversations to give each visitor what they want at that moment. I came across The Bot Lab’s Helium platform, which claims to let advertisers have contextual conversations with readers right on the publisher’s page, instead of having to click out with an ad link. Ungated bottom-funnel content also helps makes it easier and friction-free for prospects to ask for a trial or demo.

2. How Can I Better Integrate Dark Funnel Traffic Into My Attribution and Analytics?

Attribution has its challenges, but it’s still one of the most powerful tools for revenue-driven marketers. You can’t give up on it — especially when revenue attribution and intelligence solutions are getting smarter by the day, several with the capability to track full-funnel customer journeys (and not just individual contacts or accounts).

At the same time, ignoring what dark social and the dark funnel have to tell us is impractical. In this LinkedIn post, Ryan Reisert of Phone Ready Leads shares how a comment left on another post received just about 22 engagements on LinkedIn. On the same day, the company’s website traffic showed a 10 times surge. A clear indicator of the impact dark social can have on web traffic, but which will show up as “direct traffic” on the analytics.

Here are some ways to get a better understanding of the dark funnel:

 

Correlate: if direct traffic or organic search is going up, understand what could be causing those spikes. Have you sponsored a podcast or event recently that had a lot of listens?

  • Set your conversational intelligence platforms such as Gong, Chorus or Outreach to listen for dark funnel keywords such as “podcast” or “LinkedIn,” and set your CRM to mark these as “dark funnel” sources.
  • Connect social monitoring tools such as Oktopost or Meltwater to your CRM to track brand mentions and other solution or category-related keywords to track spikes.
  • Get paid subscriptions to review sites for more insights into who reviewed your products or category. When combined with other intent data, this may provide stronger context and signals.
  • Sort out your UTM processes. Missed or messed up UTM codes often end up unleashing a big dump of “other” or “direct” traffic, especially if hundreds of campaigns leading to hundreds of landing pages are on in parallel. A solid UTM workflow narrows the dark funnel by ensuring as much traffic as possible is tagged to the right source.
  • Institutionalize a self-reported attribution process. Ask mid and late-stage prospects, converted customers, and even churned customers how they heard about you and why they chose your brand. Make it scalable with onboarding and off-boarding microsurveys.
    dark iceberg
    LinkedIn post by Strategic ABM/ Dan Mulkeen

 

Do these enough times, with a consistent process, and patterns will start to emerge about dark sources that are helping generate demand. Declan Mulkeen, CEO of Strategic ABM, who calls it the dark iceberg in his viral LinkedIn post, reminds us that our B2B marketing metrics need a better balance between what can and cannot be seen.

Expert tip: in this post titled “Why B2B revenue attribution is broken,” B2B marketing leader Naseef KPO shares the reasons why single-touch, first-and-last touch and multitouch attribution models are all problematic. The issue, he says, is that most of them “focus on demand capture alone and not demand creation or generation,” referring to the dark social and dark funnel. Instead, he suggests a ‘mixed attribution model’ composed of:

  • The hybrid attribution model, which focuses on a combination of self-reported attribution and software-based attribution.
  • The influencer attribution method, where you look at the contribution of multiple demand capture channels and attribute revenue proportionately.

The core principle of this approach, KPO added, is to separate demand generation and demand capture channels and attribute revenue among these channels in such a way that “you are able to come up with the right budget allocation for future marketing activities.”

Ultimately, marketing strategy should be based on where customers are, not which channels can be measured. Even Google is moving away from last-click attribution toward an intelligent data-driven system.

3. What Mindset Shifts Can Help Leverage Dark Funnel Insights Better?

Mindset is a key part of winning the dark funnel. Needless to say, dark social, dark web and almost all B2B marketing itself today should be not about selling, but about helping people buy.

You cannot track the dark social or the dark funnel 100 percent, so stop focusing on that. Instead, focus on how you can best be a part of it and influence it by providing genuine value.

Train employees to fan out across dark social and amplify — without selling — that value, with meaningful insights, comments and content about the category, problem and solution rather than the brand. When it comes to communities, do not think of prospects as “us” and “them.” Instead, be a member of the community, giving and taking value from it.

To drive leadership buy-in and help sales open more doors, track and share screen-shots of useful engagements and DMs, including those of competitors. The currency here is not conversion, but attention and engagement from the right people.

Expert tip: In this episode of Insightly’s Closing Time podcast, Shama Hyder, founder and CEO of Zen Media, makes a great case for why marketers should spend more time on dark social and the dark funnel. The problem, she says, is a marketers’ work today is more about working on known intent. They end up as an on-demand collateral factory for sales, churning out white papers and brochures for the 5% of people already showing intent and ready to buy.

Instead, marketing should focus on creating demand. They should be on dark social and dark funnel channels, interacting with the 95% of potential customers who are not yet “ready to buy,” but are in the process of learning, collaborating and evaluating with peers. That is where the real opportunity to create demand exists. But you can’t rush it. When it comes to creating value and engagement on dark social, Hyder advised, play the long game.

Like all great marketing, content, conversations, context and connections are the key to getting the most out of the dark funnel as well.

youtube screengrab
Screengrab showing how most marketing is focused on converting high-intent prospects instead of creating demand across the dark social. Closing Time Podcast episode: Dark Social in B2B Marketing: What it is and How to Harness it.

 

By Chitra Iyer

Chitra is a seasoned freelance B2B content writer with over 10 years of enterprise marketing experience. Having spent the first half of her career in senior corporate marketing roles for companies such as Timken Steel, Tata Sky Satellite TV, and Procter & Gamble, Chitra brings that experience to her writing. She has authored over 500 articles, white papers, eBooks, guides, and research reports on customer experience, martech, salestech, adtech, retailtech, and customer data and privacy. She holds a Masters in global media & communications from the London School of Economics and Political Science and an MBA in marketing.

Sourced from CMSWire