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Only 40% Have a Social Media Presence.

By MediaStreet staff writers.

Engagement with social media remains flat, despite influx of new group of leaders among Fortune 500.

Domo and CEO.com released their fifth annual study on the social media habits of Fortune 500 CEOs.

After studying statistics from 2016, the Social CEO Report showed that while the social media habits of Fortune 500 CEOs have moderately improved over the past five years, they are still sputtering.

The report shows that despite 75 chief executive changes occurring in this group in 2016, these new Fortune 500 leaders had no significant impact on the group’s total social media report card.

One of the winners: Apple’s Tim Cook has the most Twitter followers – surpassing that of Warren Buffett and Marc Benioff.

This new report found that only 40 percent of Fortune 500 CEOs on the list were active on at least one of six major social networks in 2016 (Twitter, Facebook, Google+, Instagram, LinkedIn and YouTube), a slight increase from 2015. Of the Fortune 500 CEOs that use social media, 69 are active on more than one channel, and just 15 are active on more than two.

Only 40 Fortune 500 CEOs (8 percent) have a Facebook page, down from 57 in 2015. Of those, 32 were inactive for the last quarter of 2016. LinkedIn, which was acquired for $26.2 billion by Microsoft in 2016, remained the preferred social media “onramp” channel for Fortune 500 CEOs and LinkedIn’s Influencer program features some of the most active leaders on social media. In 2016, 35 percent of Fortune 500 CEOs were using the platform, a three percent increase from 2015.

Just 36 Fortune 500 CEOs have Twitter accounts, but it remains one of the most actively used channels – with 70 percent of that group regularly using the platform in 2016, compared to 62 percent last year. Both Instagram and Google+ had modest gains in Fortune 500 CEOs with accounts since 2015, despite very little use of these channels.

New channels for video emerged in 2016. Facebook Live, LinkedIn Influencer videos and Twitter’s Periscope joined YouTube as social video platforms. Meanwhile Vine, also owned by Twitter, shuttered in 2016. These accounts are typically owned by corporate marketing and have featured their top brass, but Fortune 500 CEOs typically do not have their own accounts.

Other notable findings from the study include:

  • Expedia’s Dara Khosrowshahi is the only Fortune 500 CEO to use five social networks.
  • Apple’s Tim Cook has the most Twitter followers – surpassing that of Warren Buffett and Marc Benioff.
  • More than 40 percent of Fortune 500 CEOs are featured on their company’s YouTube channel.
  • Executives from the technology, retail, media and entertainment sectors were most active on social channels in 2016.

To view the full 2016 Social CEO Report, visit: https://www.domo.com/learn/2016-social-ceo-report

 

 

Partnering with influencers is turning out to be a better pay-off than other traditional forms of advertising because of how emotionally invested the community of followers are.

By MediaStreet Staff Writers.

Oh the places you’ll go, and the things you’ll see. Never have Dr. Seuss’ rhymes made more sense to adults today than when you start to examine how influencer marketing has turned the travel industry upside down.

Travel writing was relegated to stuffy travel guides written by yesterday’s travel wordsmiths. Now, influencers …social media stars on all manner of platforms are striking deals with destinations, and with brands, and bringing the places they go and things they see to their dream-filled followers.

Chanel brought Stephanie Liu of Honey & Silk to Grasse, France to experience and share the making of their iconic No. 5 fragrance.

Take Tommy Lei, the Hong Kong born / LA raised photographer behind MYBELONGING for example. In the last six months, Tommy has already travelled to Iceland, Punta Cana, Mexico City, New York, London, and Morocco.

Tommy Lei, cashing in on his trip to Morocco.

Tommy partnered with sandal brand Teva on his last trip through Marrakech to the Sahara, where the goal was a ground-swell of destination specific content – Morocco is an Instagram-worthy destination right now. The program was a smashing success, whereby his branded content generated over 40% engagement from his fans, and he was able to use his talent in photography to deliver a robust package of digital content to the brand. These kinds of collaborations are becoming the new win-win for influence deals, and they will only increase in velocity.

Brands who work with influencers get to be part of aspirational journeys across the globe, capturing audiences in a very visual way. Partnering with influencers is turning out to be a better pay-off than other traditional forms of advertising because of how emotionally invested the community of followers are.

Influencers are using wanderlust apps like Sherpa to share guides with their fans, bringing their trips full circle by establishing themselves as travel experts and brand ambassadors – all rolled into one incredible package.

On the other side of the spectrum, destinations themselves are turning into the clients that want to partner and bring groups of influencers to build the buzz. As David Hoffmann, host for popular YouTube travel channel David’s Been Here, noted, “Influencer marketing has branched out beyond fashion into the travel sphere, giving audiences a taste of what it’s like to quit their jobs, travel the world and create a personal brand doing something that was once considered a far-fetched luxury. Now that millennial influencers have taken Instagram by storm, places like the Maldives and Bali have become some of the hottest destinations, triggering flight deals and affordable hotel packages like never before.”

This is a massive shift in marketing dollars for destinations, and brands are seeing the returns in the form of booked hotels, booked flights and exploding local business. Influencers make travel, that often seems like a far off luxury, real and accessible.

The shift is also changing how other related trades are checking off their own bucket lists. Photographer Champagne Victoria has gone from shooting fashion editorials around Los Angeles to spending a better part of her year across Europe and island chains, because of the global impact of influencer marketing. By bundling trips with several brands projects, Champagne has been able to fully fund these trips, allowing her creativity to expand through different settings, and giving brands – many of which don’t have the big budgets of major labels – the opportunity to be shot in desirable destinations like the islands of Greece, Iceland, St. Lucia and so on.

If you imagine yourself waking up in the south of France, exploring the flower fields of CHANEL No. 5 – well, follow Stephanie of Honey & Silk, and see the dream become a reality. If you wanted to take the best Americana road-trip of your life, say from New Orleans to Boston and back, follow Courtney of Pretty Little Fawn. Influencers + travel are creating an exciting new wave of exploration – and thankfully with so many fashion influencers involved, you’ll finally know what to really wear.

For further reading, you can dig around the content of digital influencer management firm, God & Beauty. They discuss how travel is the new currency of influence and branded content.

By MediaStreet Staff Writers

Social media marketing is currently a very popular practice for businesses. But it isn’t all success and roses. A recent Temple study shows that businesses must find a proper balance in order to avoid negative results. So for businesses who currently rely on social media marketing to attract new customers, listen up.

While the potential for social media marketing seems almost limitless, a study led by Ph.D. candidate Shuting Wang and senior associate dean of research Paul Pavlou reveals the exact opposite. The Temple professionals recently conducted a study which looked to determine the specific value of social media marketing in relation to data from WeChat and a Chinese shoe retailer.

The study revealed that while social media advertising had a positive impact on increasing customer sales in the short term, it actually created a negative impact on the business in the long term.

When looking at the specific figures, the business witnessed a 5% increase in sales on the same day following a social media post. However, this same post increased the chance that customers would unfollow the business by 300%. Within five months, the retailer experienced a 5% decreased in sales paired with a 20% loss of online followers within a year.

With regard to these findings, Shuting Wang notes that people often “get annoyed” by a company’s post in the long term compared to the short term. “In that case, they will unfollow, which will lead to a long-term decrease in purchases,” Wang said.

sales, marketing, social media, online sales, social media marketing

Researcher Paul Pavlou believes this phenomenon can be contributed to the way in which companies often “over-do” social media.

“They see that the more posts they put out there, the more sales they’re going to see,” Pavlou notes. “Companies should be more careful with this and focus more on their long-term goals. Social media marketing is so quick, so immediate that companies say, ‘Well, let me leverage this as much as possible in the short term,’ and they may actually miss the big picture.”

While the study findings support the idea that too much social media advertising can hurt a company’s sales production, there are contextual factors which also play a role. Professor Paul Greenwood notes that these factors include, “What time of day it is, and where people are located.” In addition, the professor notes that people in large cities “Unfollow a lot faster…and if you post during rush hour, people unfollow a lot faster, but if you post at off-peak hours or smaller locations, that effect seems to go away.”

While the full extent of social media marketing trends have yet to be identified, Greenwood believes that future research will look to address whether dissatisfied customers go to competing firms or simply stop purchasing in general. This information will drastically help businesses fine-tune their social media strategies going forward.

While the Temple study revealed the potentially harmful effects of social media advertising, it is important to note this only took place when attempting to sell products. Businesses who have a balanced social media approach, or one which incorporates potential sales with public relations, are much more likely to create productive customer relationships in the long run.

For some interesting case studies on this topic, click here.

 

 

By MediaStreet Staff Writers

In an age where digital media is constantly changing, public relations practitioners and business professionals still see the benefits of traditional media coverage. This is according to study conducted by researchers at the University of Georgia.

The study finds those who use news sources to convey certain information about their products prefer independent media coverage.

Lynne Sallot is a professor of public relations of Journalism and Mass Communication. She says, “We have this intuitive idea that getting our messages covered by the news media makes those messages more credible than when we put them out there ourselves. Everyone believes this, but it’s been difficult to prove it.”

Independent media coverage is a more traditional form of news content like a TV broadcast, newspaper article or radio show, whereas more controlled sources of media are paid media such as advertisements or an organisation’s own website.

Pauline Howes is an associate professor of communications, and conducted the research. She says, “When asked directly, public relations practitioners and businesspeople in this study said they see independent media coverage as more credible than controlled, or paid, media. This seems to support the value of news coverage as part of a communications plan.

“Both types of communication are used by businesspeople, but an independent source may be viewed by audiences as having more credibility because it is not controlled or influenced by the subject of a story.”

When determining what goes into a business’s story, the editors and producers behind these independent news sources have no vested interest in the company or its products.

Differing from past experimental studies, this research looked at real world perceptions by interviewing public relation practitioners as well as business professionals.

Says Sallot, “There is some truth that to some audiences, messages covered by the media are more important. Until now, most of the research has suggested that that’s not true.”

Because of the conducted interviews, Howes and Sallot were able to get more personal feedback from those in the field. This study supported the belief that corporate/ PR messages that are carried by news media do have enhanced news credibility.

 

 

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Editor’s note: this is a transcript of a keynote speech that The Drum Promotion Fix columnist Samuel Scott delivered today at 3XE Digital in Dublin, Ireland. This post is a substitution for his next regular column, otherwise scheduled to be published this coming Monday, while Scott is now on vacation. His next column will appear on Monday, June 5.

Thank you for the introduction. This is my first time in Ireland, so it’s great to be here and see the Emerald Isle. I only have 20 minutes here to go through just a small number of the falsehoods that a lot of you probably believe, so let’s dive right in.

Note: this talk is rated 12-A in the UK and Ireland and PG-13 in America. Parental guidance is suggested because there will be some strong language.

If the greatest trick the devil ever pulled was convincing the world he did not exist, then the greatest trick that the sellers of certain marketing software have pulled for the last decade was convincing marketers that advertising is dead.

For years, so-called experts proclaimed the death of advertising and so-called ‘outbound marketing’. In 2004, Jim Nail of Forrester Research said we’re seeing “the end of the era of mass marketing”. In 2009, Bob Garfield of Ad Age wrote that “the post-advertising age is underway”.

For years, we all saw countless articles and pundits saying that advertising is dead or proclaiming that it soon will be. And you know what they were? Completely and utterly wrong.

Yes, print advertising has declined and a few other forms have remained level. But TV advertising has increased – more on that later – and digital advertising has skyrocketed. When you look at total ad spend across all channels, you see that advertising is very much alive. But tell me again that advertising is dead.

By now, in 2017, I hope that everyone here already knows that advertising is far from dead. It’s not even mostly dead. So, why am I introducing this talk with this lie? Because we are hearing similar bullshit today – but on other topics.

For 10 years, companies selling marketing software and people with agendas spread the lie that advertising was dead to sell more software and benefit themselves – even though it was clear to anyone paying attention that they were wrong. And no one ever calls them out on their lies even though anyone selling widgets is always going to say that everything that is not a widget is bad.

I see many similar lies being spread today, so I use my talks as a keynote marketing speaker around the world and my regular column in The Drum to counter them because I care about the work that we do.

Before I worked in marketing, I was a journalist and newspaper editor in my first career. But I still apply the same critical and objective analysis that I used in journalism when I discuss the marketing industry today.

So, let’s go on to the other lies that are continually repeated today.

Seth Godin in 2008: “Content marketing is the only marketing left.” Every person I know who works in brand advertising would beg to differ. Every person I know who works in PR would beg to differ. Every person I know who works in direct response advertising would beg to differ. Seth Godin was wrong.

In 2011, the Hubspot blog published a post that stated: “We honestly believe that outbound marketing is dead.” No, you do not. You honestly believe in spreading the lie that so-called ‘outbound marketing’ is dead because you sell software that you brand as the alternative.

I mean, seriously – could you be any less subtle?

One problem with so-called ‘inbound marketing’ is that most of it is still ‘outbound’ by the very definition of those who use the term. If you publish new blog posts – which are often ads by other names – you are pushing them ‘out’ to search engines. You are pushing them ‘out’ into the world by posting them on social media and in online communities. It’s still ‘outbound’. Website traffic will not magically appear unless you push something ‘out’ in the first place. Marketers ‘interrupting’ consumers is still very much alive and well. Google interrupts search queries with ads. Facebook interrupts our interactions with friends and family members with ads.

But the real problem with so-called ‘inbound marketing’ and ‘content marketing’ is that it’s just a different way to say good, old-fashioned ‘marketing communications’ – but that is harder to sell.

For those who have never studied traditional marketing, we have always had the four Ps of product, price, place and promotion. Under promotion, you have the marketing promotion mix of brand advertising, direct response marketing, public relations, sales promotion, personal selling and, as I argue today, SEO.

On the left, you have a classic direct response advertisement that was made by David Ogilvy. Headline, informative text and graphics, and a call to action. On the right, you have the standard format of a blog post. Headline, informative text and graphics, and a call to action. It’s the same, exact thing.

Now, why is it that we put this in a newspaper and we’re doing ‘direct response advertising’, but if we put this on a company blog, we’re doing ‘content marketing’? The channel and the medium does not determine the creative. The marketing practice does not change simply because the channel changes.

Marketing communications is simply the formation of an idea, the insertion of that idea into a piece of marketing collateral or content, and the transmission of that collateral to an audience. That process occurs within one of the frameworks of the promotion mix. Same as it ever was. It’s all that content marketing is – we don’t need a new term that was conjured up by someone to sell ‘content marketing guides’ and tickets to conferences like what the Content Marketing Institute does.

Almost every example of ‘content marketing’ that I see is just an example of traditional marketing communications.

In 1971, Coca-Cola put out the famous ‘I’d Like to Buy the World a Coke’ ad on TV. In 2015, Coca-Cola redid the spot and put it online. It’s the exact same thing. So why is it that when we put something like this on TV, it’s called ‘advertising’, but when we put it on the internet, it’s called ‘content marketing’ or ‘social media marketing’? Why are digital marketers so afraid of the word ‘advertising’ when we create ads? Oh, yeah – it’s because advertising is supposed to be dead.

I have seen publicity stunts, direct response campaigns, brand advertisements and more all deemed to be ‘content marketing’. And if a word means everything, it means nothing precise or useful because different types of marketing collateral and campaigns have specific best practices and times when to use and not to use them.

And at the worst, it’s just an excuse to flood the internet with useless crap as a way to get as traffic back to a website through any means necessary. Even if it hurts the brand in the long term.

The next lie. For the last 10 years, countless gurus and experts have told us that people want to have relationships with brands on social media. That brands should act like real people and ‘engage’. And all of these gurus and experts told us these things without ever offering any proof or evidence that what they were saying was true.

I’ve got an experiment for you. Go up to your friends – normal people, not anyone who works in marketing – and ask them to look back at their most recent 100 actions on Facebook and Twitter. What percentage will be engagements with brands? It will not be very long.

Another experiment. Go in a grocery store and ask random people if they want to ‘have a relationship’ with any of the brands in their shopping carts. They’ll probably punch you in the face for being a pervert.

Now, let’s look at what the numbers actually say. Take a second and read this data from Forrester Research. In the end, only 0.02% of Coca Cola’s users in the UK – that’s 5,500 people – will “engage” with a given Facebook post. In terms of advertising reach, that’s as effective as Kendall Jenner giving a Pepsi to a police officer in riot gear.

Too soon?

Oreo’s Super Bowl tweet is considered the ‘best’ example of social media marketing to date. Marketing professor and writer Mark Ritson ran similar numbers and found that the tweet reached less than 1% of Oreo’s target market.

The most ambitious attempt at social media marketing was the Pepsi Refresh Project in 2010. Pepsi moved millions of dollars in ad spend from TV to social media. What was the result? A loss of $350m in sales, a decrease of 5% in market share, and a fall to the #3 brand in the United States behind Diet Coke. Diet Coke.

Social media was never going to be about brands engaging with human beings. People want to talk with other people on social media, not brands. But where social media can be effective is as a communications channel over which we can execute campaigns within the promotion mix.

There will be no ‘social media jobs’ in five or 10 years. Advertisers will do advertising over social media. PR people will do media relations and community relations over social media. Customer support people will do customer service over social media. Just like we can do any of these activities over email, the telephone, or TV – and no one ever used the phrase ‘TV marketing’. Social media is just a new set of mediums over which we can do the same old marketing activities.

But in the end it will come down to this. There are 2bn people on social media. What do you think they want marketers to do? To leave them the hell alone. Why do you think so-called ‘dark social media’ is becoming so popular in a world in which adblocking might lead to the death of adtech and martech?

And now for the final lie of the day: ‘television is dead’.

For the past 15 years, we’ve heard predictions that TV will die. A lot of random numbers get thrown around, but what does the real information actually say? Here is some data from my most recent column on The Drum.

For all 18+ adults, people spend the roughly two-thirds of their media use each day on live television and AM/FM radio. Despite the rise of social media networks and streaming television over the past 10 years, the amount of TV viewed on a television set each day has declined in the past decade by a whopping four minutes.

84% of all TV viewing is done live. For every hour of streaming TV that people watch, they watch more than five hours of live TV. Only 15% of households have streaming-only television. 70% of people have cable or satellite TV, and those of them who use streaming options do so as a supplement and not as a replacement.

Now, from advertising to content marketing to social media to TV, why do we make so many bad assumptions and believe so many wrong facts? Simple: we have believed the bullshit that companies selling software and experts with agendas have told us over the past 15 years.

To quote Ad Contrarian Bob Hoffman, “nobody ever got famous predicting that things would pretty much stay the same.” The best way to get attention is to say that everything has changed – and, conveniently, that you have the best solution in response.

Of course, it’s a lie most of the time – marketing communications does not really change that much. A company that sells inbound marketing software is going to tell the world that outbound marketing is dead. A company that sells content marketing courses and tickets to Content Marketing World is going to say that content marketing ‘is the only marketing left’.

So what happens is that these companies put out studies and give conference presentations that always proclaim that something or other has changed – and we believe them even though they rarely offer proof or evidence and are always certainly biased. The studies are almost never scientifically credible when you look at the methodology.

And all of this causes us to have tunnel vision and work in an echo chamber where all of these falsehoods are repeated over and over again. It leads to a ‘false consensus effect‘ throughout our entire industry. It’s why marketers, who should be the most cynical people on the planet after journalists, are surprisingly susceptible to bullshit.

And it leads us to becoming bad marketers because we create bad strategies based on bad assumptions.

Here’s one. We talk about social media all the time. There are entire conferences devoted to it. We’re all probably on social media constantly – and people in this room are probably tweeting comments about our presentations as we are talking. And we assume that everyone uses social media as much as we do.

But here’s a secret: we marketers are not normal people. According to Thinkbox in the UK, 93% of marketers have used LinkedIn in the past three months. Among all other people, it’s 14%. 81% marketers have used Twitter. Among others, 22%. My favorite statistic: 47% of marketers read BuzzFeed, but only 5% of normal people do. We are not the audience for most of our products and services, but our choices of media mixes all-too-often imply that we are.

So, what does this mean? Should we forget about social media? Should we focus on TV and think more about advertising?

Well, the answer may surprise you: yes and no. Anyone who recommends that a certain marketing tactic or medium is always the best is also selling something.

The truth is that the internet did not change that much in terms of marketing communications. What has changed is that we have an additional set of channels that we can choose to use in our campaigns and that those channels allow for different marketing collateral formats.

It all comes back to the marketing promotion mix. Marketing communications always has been and always will be the creation and transmission of marketing collateral across channels within specific frameworks. In 2017, we have the choice of mediums ranging from TV and print to social media, blogs and ad networks to, probably soon, virtual and augmented reality.

But here is the key: we need to be realistic about the strengths and weaknesses of different channels. We need to segment and research our target audiences to determine which channels are truly the best ones to use. What mediums are our target audiences actually using? We cannot rely on the alleged wisdom of companies with something to sell and experts with agendas.

Sometimes TV is a good medium for a specific purpose; sometimes not. Sometimes social media is a good medium; sometimes not. Usually, we need to include online and offline activities in our promotion mixes to achieve the best results. Being digital-only is often a mistake, especially when so much of the data is completely wrong and a lot of money is lost to online advertising fraud.

We need to be strategic and channel-neutral in a world of integrated online and offline marketing. There is no ‘offline marketing’ and ‘digital marketing’. There is only marketing.

For those who are interested, here are links to my columns in The Drum and other information that goes into more detail into what I have presented here.

If anyone has any questions or comments, I’d love your feedback. I just hope that after this talk, all of you will be just a little more skeptical about what people like me tell you at conferences and in articles.

The Promotion Fix is a new, exclusive biweekly column for The Drum contributed by Samuel Scott, director of marketing and communications for AI-powered log analysis software platform Logz.io and a global keynote marketing speaker on integrated traditional and digital marketing. Follow him on Twitter and Facebook. Scott is based out of Tel Aviv, Israel.

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The Promotion Fix is a new, exclusive biweekly column for The Drum on integrated traditional and digital marketing written by former journalist and current marcom director and global marketing speaker Samuel Scott. Follow him @samueljscott.

Sourced from The Drum

By Russell McAthy.

Smart marketers are now looking to the middle of the funnel to get the most from their campaigns. This is where you can get significant incremental revenue if you’re willing to invest in data!

There are few markets where a person converts instantly, with no prior knowledge or opinion on the product/service. As a result, the marketing funnel (the process by which someone moves from having a need through to final conversion) has become core to the way we approach consumer engagement. Regardless of the market you operate within or the marketing philosophy you subscribe to, the funnel itself has three general themes:

Top – Awareness

Middle – Consideration

Bottom – Conversion

Smart marketers create campaigns which cater for each of these areas in order to educate, convince and persuade. This approach means that some marketers will  allocate effort and resources to each stage of a funnel in a way that is not the most efficient. Below you see that we spend the most time focused on the bottom of the funnel because it has the quickest return on investment;

The majority of brands are already optimising the bottom of funnel as this is where, using last click, you get an instant impact on conversions. It is the easiest stage to sell-in your marketing efforts to C-level to gain investment, with almost immediate results to determine if a strategy is successful or not, it appears much lower risk.

One metric we assess the quality of marketing activities on is the Cost per Acquisition (CPA) blended across all types of visitors. This is the most common way of understanding the value of our work and allows us to test new tactics. However, the higher up the funnel your consumers are, the higher the typical CPA will be as your conversion rate in a single session will be significantly lower. This can dissuade brands from investing in the middle of the funnel; thus missing out on the area of greatest opportunity.

Not only does focusing purely on the bottom of the funnel miss opportunities, it can also put off consumers who are positioned higher up the funnel and do not respond well to that type of messaging. Avinash Kushaik (link) (the original analytics guru) is renowned for his framework “See, Think, Do” which is based on the same principles. He highlights in his writing on content marketing frameworks how crazy it is to focus on just the bottom of the funnel.

“The Do (Bottom, Convert) audience intent cluster is…. the one on which 97.296% of the current marketing activity is focused: an audience with strong commercial intent, close to making a purchase. … …BUY NOW, BUY NOW PLEASE! – are simply trying to maximise the chance they’ll bump into Do intent. In the processing, annoying everyone in the See (Top, Awareness) and Think (Middle, Consideration) intent clusters!)”

However, we are causing this problem ourselves with the way we attribute our marketing activities. When considering a blended CPA it makes it impossible to drive significant incremental growth. The bottom of funnel activities will always be able to be optimised further to get those marginal gains. There are opportunities to gain small growth quickly when lower down the funnel, however the opportunity to generate longer term significant growth is only available when you are able to invest in people (pay a higher CPA) who will convert in the future.

 

Looking at an example consumer (the channels are quite interchangeable) we can start to see where the opportunities are.

A prime example comes when Brand PPC is the last converting channel. Most companies will have 100% impression share, low CPC’s, low CPAs, high CTRs and well-optimised ad-copy for their brand PPC terms. They have however maxed out the volume that is available – and you can’t possibly buy more impressions through PPC bidding without significant investment in increasing brand awareness. What you can do however, is increase the volume of people who are aware of your brand activities higher up the funnel by capturing consumers before brand preference and search becomes paramount. You need to be present before your potential customers are ready to convert in order to naturally increase the impressions you receive on brand terms further down the line.

Investing in people who will not convert is hard to sell to stakeholders/budget holders. The status quo right now dictates that we spend money today and we make money today. Those in marketing roles need to be able to justify their strategies to stakeholders, and risk that if they lose the faith of those senior stakeholders whilst waiting for a return on their investment, then they may also risk losing their budgets or worse case, their roles. This approach works for individuals, but to drive long-term results best for the business then the true value of your marketing activities needs to be considered. A very high percentage of your cost today is not driving the returns you make today – there is a lag between cost and converting revenue. By understanding this, and that higher up the funnel your returns simply take longer to be seen, you can take a more intelligent approach to your strategy.

If people aren’t going to convert instantly this is where we look to the middle of funnel. These are people who are researching, comparing you against your competitors or consumers who are just not ready to convert yet. A lot of channels specialise in this type of consumer although are incentivised and have KPIs that focus on converting. Channels such as PPC do very well in a last click scenario however a lot of the keywords, ad groups and campaigns should actually be targeting and be incentivised for success around the middle of funnel. SEO and content marketing should live in the top and middle of funnel. This is where it is around education of the consumer through the art of great content.

Whilst every market’s funnel will be slightly different, the elements on which brands compete with one another will frequently be around three core themes – Price, Quality & Trust. Targeting users higher up the funnel may have a high blended CPA in the short-term, but over time as it increases the number of people reaching the bottom of your sales funnel, it can also contribute to increasing your conversion rate there too.

When you consider the impact on increasing conversion rate lower down the funnel, and the volume of consumers who will reach the conversion point; it is clear that the mid-funnel is exactly where the opportunity for brands now sits.

Using attribution modeling you can apportion a true % of the revenue to each activity in the funnel. This allows you to calculate the ROI of activity that has yet to convert, and therefore optimise to a true tactical led approach.

The largest opportunity every brand has right now is looking at the middle of funnel – the 1-2 weeks prior to conversion in most cases. Putting a testing budget here to buy users in advance of their converting activity captures a much larger pool, which can then be targeted using retargeting to convert in a short time frame in a cost efficient manner.

The main insight that is needed to do this is having an understanding what activity is truly driving future converting activity and this is where attribution really adds significant value.

 

I regularly speak on how attribution supports the middle of funnel and how this can drive significant impact on both volume and ROI. Here is a link to a deck I did at the Search Elite conference on 9th May 2017, where this was one of the topics of conversation.

It would be great to see you at a conference we are attending in the future, click this link for details, dates and discounts.

By Russell McAthy

Sourced from CUBED

By Demitra Fields.

Just like the everyday social media user, a successful brand should have its own story and personality.

Brand storytelling, when done properly, allows marketers to build personality and associate emotion with a brand to create (or, at least, attempt to create) a personal connection with the consumer. The prevalence of social media today has driven an interest in leveraging the convergence of content creation and programmatic advertising to tell the story behind a brand.

As co-founder and president of Track Marketing Group, I’ve helped different brands socialize their story using strong visual narratives and integration of live experiences to build engaged communities. Here are five tips to creating your social brand narrative, and hopefully, inspiring your community.

Use Powerful Imagery 

It’s often said that good public speakers take their audience on a journey, hopefully leaving it feeling motivated and inspired. Leveraging the power of photography to take the consumer through a visual journey is one of the most powerful ways to tell your brand story across all social platforms.

  • Use original images. Storytelling is most effective when it’s personalized. Stock images will never do your brand story justice. Make the investment and create original visuals that tell the exact story in your brand voice.
  • Use social platform-specific visual tactics. With the number of social platforms consumers are using today, it’s safe to say that one size does NOT fit all. Instagram profile grids, the act of taking one single image and sharing it as a grid of several broken images to create a big picture when viewed on the main user profile, might work well on Instagram but lose their effectiveness on Twitter and Snapchat. Know your community and apply the best visuals that work within the confines of the different social platforms.

Limit The Use of Hashtags

Being on the agency side, clients are always looking to sum up their entire brand ethos using one hashtag. Unicorn hashtags — simple premises that the consumer can immediately understand and connect to the brand — are far and in-between.

Use hashtags as a way to corral and enhance your brand story along with the extended consumer chapters and plot twists. The hashtag should not be your brand story

Empower Your Community

One of the most popular story structures is called the “monomyth,” also known as “the hero’s journey.” In monomyths, heroes are called to leave their home and set out on a journey to an unknown place. After overcoming a trial, they return home with newfound wisdom or a reward that they can share with and ultimately help their community.

Social media and the power of user-generated content allow marketers the unique opportunity to allow the consumer to finish the monomyth. The brand’s journey into the unknown can be open ended and completed by the consumer in his or her own words and visuals.

Tactically, we can do this two ways:

  • Crowdsourced Content. Leveraging crowdsourced images to show the pillars of the brand story through the consumer’s lens and, in turn, bring the brand story into the real world.
  • Social Listening. Utilize social tools to identify and listen to your brand advocates and engage with them on a one-on-one basis to amplify the story beyond your reach.

Expand Your Message

The greatest stories are those that are broad and relatable to a wide group of people. The best TV shows in history all transcended their specific subject and captured a moment in time in our culture. “Star Wars” is a box office juggernaut because it tells a story that the consumer easily understands.

The best stories are relatable by the average person. Telling your brand story on social means that you have to be unique yet still attainable by the average social media user. If your entire story is only for the one percent on social, that’s not a story – that’s only a chapter.

Let The Words Tell A Story

Storytelling on social media is ultimately driven by words. Whether we are looking to inspire, motivate or galvanize the consumer and community, the copy that we use either as standalone text or as captions to our visuals will dictate the brand story arc(s).

New Balance, one of our agency clients, recently launched its “Always In Beta” campaign telling their brand story of being in a state of relentless improvement — that there is no finish line to what’s possible and that you can always improve with determination.

New Balance has taken its ‘Always in Beta’ brand story to social by creating original content that visually speaks to its performance heritage, yet with words that are broader than footwear and apparel. This has allowed it to become more than just a footwear brand but to enter its consumer’s personal storyline.

Great brands rely on stories to define their brands. With society driven by social media and an “always on” mentality, today’s brand journey must begin, build and extend onto social. Approach your storytelling with an authentic yet broader lens than your brand-specific filter, and you’ll give your consumer the social authority to make your brand story into their personal folktale.

Read more advice on building your brand at Tech.Co

This article is courtesy of BusinessCollective, featuring thought leadership content by ambitious young entrepreneurs, executives & small business owners.

By Demitra Fields

Sourced from TECH.CO

62% of travel marketers rate Facebook as the most effective social media network.

By MediaStreet staff writers

Facebook is peerless amongst travel marketers according to a new industry-wide survey from EyeforTravel. The State of Data and Analytics in Travel Report 2017 found that 61.6% think Facebook is the best performing social media network, leaving Instagram – also a Facebook company – a distant second at 15.8% of respondents.

Twitter rounds out the top three at 10.3% of respondents and is followed by YouTube at 6.2% of respondents. No other social media network had a significant response rate.

“Facebook has numerous advantages above its rivals, but the largest of these is the depth of information it has on its users,” said Alex Hadwick, Head of Research at EyeforTravel. “Potentially Facebook has the majority of a Millennial or Generation Z’s life recorded in detail, from their interests and preferences, to the places they have travelled to. This gives them enormous power that has been multiplied by the clever acquisitions of Instagram and WhatsApp. In my opinion these acquisitions also help to future-proof Facebook from potential downturns in usage of its original platform.”

The survey also found that 78% of travel marketers are using social media data in their marketing campaigns. This level of integration illustrates the importance social now plays in marketing efforts, a position that is likely to increase rather than diminish in the medium-term.

The travel industry is clamouring for more and better data, as well as the tools and skills to understand it. This survey was conducted across all the sectors and received responses from more than 450 professionals working with data in travel. They came from across the world and from a variety of different professional areas, including C-suite executives, marketers, revenue managers, and analysts.

 

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Procter & Gamble (P&G) is working to get the right blend of precision with mass-reach in its marketing after previously admitting that it had targeted excessively online.

It doesn’t have to be an “either or” debate, opined Gerry D’Angelo, the global media director for the world’s largest advertiser at the Festival of Media in Rome this week (9 May).

“The approach I’m trying to instill here is to make sure we’re using all the technology to drive scale and reach and then once that’s in place we can use that muscle memory to build personalisation,” he said.

D’Angleo’s talking about building a better use of data and technology at the business, where its marketers have a more robust idea on how to get the most reach but also the right precision. Rather than pull swathes of media money from online platforms, the noises coming from P&G suggest its revamped approach will revolve around how to better buy reach. Part of this thinking would have likely guided P&G’s decision to redistribute its programmatic data duties earlier this month when it cut ties with AudienceScience.

“It’s not that personalisation is a bad thing,” assured D’Angelo as if to ward off concerns that he and his peers will start pulling reams of budget from the likes of Facebook and Google.

“We just need to make sure we don’t follow it out the window and end up talking to a fraction of our category buyers. As long as you can accommodate both of those concepts [personalisation and mass reach] simultaneously, which I think you can, then I think its absolutely acceptable to be able to talk o people and also talk to them in a highly targeted way.”

It’s a change in tack from P&G, which was one of a throng of advertisers to pump money into targeted ads that consequently sacrificed reach. The company’s top marketer Marc Pritchard admitted as much last year when he said “we targeted too much and went too narrow” on Facebook. Four years ago, the business was adamant, as many of its peers were, that this was the way to go. In 2013, it moved a third of its advertising budget online and then a year later slashed its spending by 14% and refocused on what it said at the time was an “optimised media mix” with more digital, mobile, search and social investments.

But businesses like P&G own brands built on mass media, with the type of recognition that has always chaffed against the hyper-targeted sensibilities of environments like Facebook. And with tougher cost pressures on the company’s marketers as seen by its plan to cut a whopping $2bn in marketing costs over the next five years, it may have to go back to the marketing sensibilities that defined the industry in order to continue to grow.

Nowhere is this need clearer than in P&G’s four-point plan to overhaul its investments around viewability, third party measurement, agency relationships and online ad fraud.

If Pritchard is going to lead by example on his view about the death of craft in advertising currently then he needs to disentangle the media supply chain and consequently tackle mass personalisation.

“There is a reality that personalisation can go too far,” said Matthew Heath, chairman and chief strategy officer at Lida. “Firstly you need brand salience and attraction – you can be as personal as you like but I still need to trust you and be interested in you in the first place. Secondly brands often need a dimension of discovery and serendipity, that disappears in the overly personalised world.”

By

Sourced from THE DRUM

By .

Rather than bundle social video into sponsorship deals, Premier League clubs want to carve out its commercial value to convince sponsors to pay more for that engagement.

The modern-day newsfeed is as stuffed with posts from wannabe stars and celebrity spats as it is with videos from training grounds and changing rooms. Yet many of those creating this content aren’t sure of its commercial worth as it becomes increasingly hard to ignore how much more exposure football teams can get on social media compared to TV.

But because it’s tricky to track the value a brand gets on social, it’s arguably been massively undervalued. No commercial chief can point to half a million Facebook views and say ‘that’s just helped secure my new partnership deal’ when measurement is so blunt. On the other hand, many would ask ‘what’s the cost of not doing it?’

Hundreds of millions in the case of Real Madrid’s Cristiano Ronaldo, whose social media accounts generated an eye-bulging $500m in value for Nike last year according to sponsorship analytics company Hookit.

While Ronaldo isn’t a club, he is a media owner like the Real Madrid team he plays for and, just like his employers, the Portuguese forward knows that content and platforms he owns are in high demand. The world’s most prolific athlete on social media had one post last year that was worth $5.8m after it racked up 1.7m ‘likes’ and nearly 13,000 comments due its timing with Portugal’s Euro 2016 victory.

Valuations like these are frequent as they are rooted in the old media equivalency rules of sponsorship. Hookit’s methodology uses average number of impressions per interaction to come up with a monetary value when really sponsors want a clearer way to compare social media posts with TV inventory. What the likes of Hookit do prove, however, is just how much teams could be missing in the media valuations they currently conduct – especially as brands demand sharper measurement from all parts of the marketing mix.

“Some clubs are not doing it [measuring social video] right and those who aren’t need to change the way they are approaching brands,” says Jean-Pierre Diernaz, vice-president of marketing at Nissan Europe. The car maker, which sponsors Manchester City and the Uefa Champions League among others, sees a potential in a fast spinning sports industry and yet is perturbed by what it deems is an unwillingness to fix what has become a largely inefficient market.

The social video sports revolution

Pound-busting TV deals pushed the 20 top-flight English teams to post record revenues of £3.6bn between 2015 and 2016 and yet they still struggled to make a profit. Collectively, Premier League clubs made a pre-tax loss of £110m, according to Deloitte, stressing the need for additional revenue streams at a time when many commercial bosses are yet to properly monetise their online fanbases.

“Every club has a certain number of fans but what is important is those who are actively engaging with the club,” continues Diernaz. ”The clubs need to be actively showing on the platforms that here is the value. If you look at the top 20 YouTubers in the world they are getting a lot of business with what they are doing so why would you not be operating the same as a football club. It’s clearly a strategy that would accelerate this for clubs.”

Several Premier League clubs are wise to the opportunity, resolving to give brands what they want in the hope of extracting more money from sponsorships. When City Football Group’s (CFG) commercial boss Tom Glick says he can see a time when social video could help his team renegotiate deals, he’s actually talking about a point when he and his team understand the market value of every post and the revenues they generate.

Numbers like that could come in handy if City were to try to convince Nike to top the £60m a season, 15-year deal with Chelsea when it comes to renegotiations. A club like Manchester City could potentially command tens of millions in media value on TV coverage alone. Add social into a mix and that could significantly inflate the media value of said sponsorship deal. Placements that were once thought useless on TV such as those at the club’s training ground could be worth more to a sponsor looking to reach the growing number of younger fans who aren’t only concerned with what their club does on match days.

“Often what’s holding social video back is it is generally wrapped into a larger sponsorship deal which can undervalue what that media represents because its not pulled out or compared with other formats – like display advertising – that might be getting sold… to me social video is more valuable than a display ad on a club’s website and yet in many cases these things are not necessarily being valued in the same way,” suggests Gareth Capon, the chief executive at social video production business Grabyo.

“If you’re a training ground sponsor then you don’t get much TV presence on game day, it’s more the main kit and headline sponsors,” he continues. “But now with social video you suddenly have all these assets where fans who want to know what’s happening with their club each day get to see your brand and those posts are shared all around the world. That’s a real change and the value for that media is not well understood… but once it starts to get compared with traditional TV advertising or and other forms of advertising, or at least it’s valued as a component of an overall sponsors package, then I think its value will rocket.”

Being able to quantify the value of social media

Southampton, like City, have made strides in recent years to move away from being so reliant on broadcast, focusing on depth of engagement rather than mass exposure. WPP-owned sports marketing agency Two Circles is helping it make the transition, which is very much a work in progress. “It’s about how best to value the video so we’re not only doing it in a traditional sense,” says James Kennedy, Southampton FC’s head of marketing. “We’re going down much more of an impression-based route as oppose to a sales route.”

This means partnerships aren’t typically signed off with an agreed number of tweets and database blasts to feign brand activation. Rather, Southampton are focused less on selling price and impressions and much more on delivering engagement and value.

“The ‘impression-based route’ is about understanding a brand’s target audience and helping them reach this group (in a targeted, cost efficient way) across the club’s entire digital network – web, email and social,” adds Kennedy. “So while achieving mass brand exposure and positive affinity is one objective, Saints can help brands develop campaigns to achieve specific objectives because they can segment their entire digital fanbase.”

Methods like this are heavily reliant on equivalent media value measurement. In the case of Southampton, the club argues that it doesn’t apply an “equivalent” media value in the traditional sense. However, because they – along with Two Circles – eschew inflated media values, they have a more consistent benchmark for a marketer to compare the impact of a campaign with buying the media space elsewhere.

Simply put, what Southampton et al are using involves reach and frequency measures of signage to determine the value of sponsors exposure. These are calculated in differing ways and to varying degrees of sophistication but every measure – or impression – is ascribed an equivalent media value that a marketer can compare with paid for advertising. Hence, the underlying assumption for any brand tracking social video this way is it keeps their sponsorship rooted in the value of logo exposure as well as brand equity.

“The way content is valued is media equivalency so if Chevrolet wanted to buy ad space from TV for millions of people then how much would that cost versus being on the front of the Manchester United jersey… it’s exactly the same premise for how we [Nielsen Sports] value digital and social content,” says Max Barnett, global head of digital at Nielsen Sports. The measurement firm is readying a product it claims brings social media and traditional media valuation together for the first time, meaning for every minute of brand exposure data collected, an average of 5,000 data points are input to algorithms to calculate qualitative and valuation based outputs. While similar tools exist, Barnett hopes Nielsen’s own alternative becomes a unified measurement of sponsorship across all media channels.

“We’re seeing more ​clients’ commercial teams target 15% to 20% ​share of ​media value through digital and social” he continues. “If you have declining TV audiences then that’s a really important gap ​to fill. The audiences are more than likely not leaving, but consuming the content in a different way. Likewise, you could see brands selecting properties with a more significant social footprint to align to their wider marketing channel objective. Could we also see brands go after digital and social assets in the not too distant future? That depends on how rights holders want to package and promote.”

Is it time for football clubs to think like media owners

Some Premier League bosses hope to do this using social metrics such as earned impressions, shares and followers. The Drum understands a number of commercial bosses have at least considered the possibility of adopting a cost per engagement as a new standard in ROI measurement. While these talks are yet to materialise into anything beyond speculation, that they are even happening is vindication enough of social video’s potential value.

Putting a price on social video has been a thorny subject for some time and it was a challenge we have been seeking to shine more light on with our research report series,” says Michael Litman, founder and chief executive at Burst Insights. For example, the social analytics firm found that of the top 20 best performing videos across each social video platform from last season only Manchester United and Chelsea saw exposure value within the set reach over 31m. Arsenal ranked third, Liverpool FC fourth, Manchester City were in fifth place and Tottenham Hotspur rounded out the top six.

“This shows that for example Arsenal are overachieving on social video performance versus actual player performance on the pitch,” adds Litman. “Spurs fans on the flip-side I think will prefer to be nearer the top of the table in real life. I think we will see in time real world performance, correlating more closely with digital performance as the clubs become more akin to global media broadcasters in their own rights.”

Sports sponsorship has become a new game stuck with old rules. No longer is it enough for rights holders to give sponsors the most media for their money. Instead, sponsors want to know how the rights they’re buying add value to their brands, a shift that’s forcing the likes of Manchester City and Southampton FC to behave more like media owners.

The global success of the top six [Premier League] clubs generates a constant demand for sponsorship assets,” says Tom McDonnell, chief executive at digital fan interaction specialists Monterosa. “Brands are looking for end-to-end solutions that entertain and engage. It’s not enough to count a ‘view’, which could be fleeting, but to also consider interaction and active conversation. If a club provides better assets via social video with proven engagement and interaction, it differentiates the club’s offering and that hits the bottom line.”

By

Sourced from THEDRUM