By Keith Trivitt | @KeithTrivitt | Director, Marketing and Communications
Welcome to The Friday Five, curated reads about marketing, advertising and digital media from the team at@MediaWhizLLC. Read previous Friday Five posts here.
Pinterest Fosters Unique Shopping Behaviors | eMarketer A new eMarketer report delves into the retail activity spurred by the latest social network to make headlines — Pinterest. The visually focused, aspirational site has grown tremendously, and it offers a lot of promise for retailers, assuming they can get users to link images with product offerings and purchases.
With the mass of customer insight available to brands adding another weapon to a chief marketer’s arsenal, Marketing Week asks whether their job titles should reflect this. If you believe the surveys, the pressure to improve the return on the money invested in campaigns has combined with an explosion of data to squeeze creativity from the role of chief marketing officer and turn it into “chief data and marketing officer.”
Many brands, marketers and industry pundits contend that the great battle in social media is over mobile. The chant from tech giants, New York Times technology columnist Nick Bilton writes, is “mobile, mobile, mobile.” But there’s a greater evolutionary force at play: photos. From Facebook’s revamped Newsfeed that places an emphasis on photos to Twitter now commandeering users’ photo sharing via its own proprietary photo app, the battle isn’t just for the mobile Internet. The real battle is for photos on the entire Internet. (more…)
The piece centers around the eye-popping investments in, and growth of, mobile payment startup Square, now valued at $3.25 billion after it raised more than $200 million in a new round of financing.
Waters examines Square within the prism of its larger and more established comrade in the Silicon Valley tech ecosystem — Apple and its new Passbook digital wallet platform, launched this week. Waters rightly points out that however awe-inspiring most Apple products tend to be, a key component is missing from Passbook: a way to make a payment. “Apple’s bet is that consumers still prefer to pay with a card or hard cash,” he writes. (more…)
By Daryl Colwell | @DHColwell | VP, Business Development
Editor’s note: The following is an excerpt of an op-ed originally published in MediaPost. Read the full opinion piece here.
Six months ago, mobile payments were on the ropes. Consumers weren’t interested or, worse, didn’t understand the value proposition. Business adoption was at a novel, if less-than-promising, growth stage.
What a difference a few months makes.
Mobile payments, which allow consumers to use their smartphones to make in-store purchases, received a major shot in the arm recently, courtesy of Starbucks’ $25 million investment in Square. The funky start-up, founded by Jack Dorsey of Twitter fame, has created a payment system that allows local merchants to accept credit card purchases with a mobile device.
The mobile wallet is growing up. But is the hype outweighing the consumer value?
The use of mobile wallets and Near Field Communications (NFC) — the technology behind mobile payments — are on the rise. Analysts peg the global transaction value of mobile payments at nearly $1 trillion by 2014, up from $162 billion in 2010, and 24% of all global e-commerce by 2017. By 2015, Forrester forecasts that NFC-enabled handsets will comprise 15% to 25% of all mobile phones in the U.S.
Mobile payments’ future is bolstered by reports that Google now supports all credit and debit cards on its Google Wallet app for Android devices.
With two key factors — ease-of-use and rate of adoption — moving in the right direction, mobile payments may finally reach their lofty potential. But there is still a long way toward mainstream adoption.
When it was reported in early May that social advertising had overtaken search, many in the search-marketing industry reacted with disbelief. Some wished to take up a protracted battle with social-media marketers over whose turf reigns supreme.
Sadly, much of the discussion completely missed the point of what this data tell us: the age of the “walled garden” approach to search marketing is over. Let us all rejoice. The search-vs.-social debate is a worthless pursuit. Brands don’t care, nor should marketers.
The future of search marketing will demand a blend of many different digital-marketing components — traditional search, retargeting, display, etc. — that must reach audiences across a wide swath of media, as consumers use many different devices to search for content across multiple platforms and interfaces.
Marketers need to focus on how well they are integrating social within search, and vice versa. It’s not an either-or debate. There are two reasons this is true.
Social Signals. In the old days of search — that is, pre-2012 — many brands and agencies kept their search-marketing campaigns, both organic and paid, separate from social-media campaigns. They feared that mixing the two might alienate the respective audiences of what are sometimes highly distinct customer bases.
But that’s all in the past. Social signals and the rapid expansion of the digital-advertising industry are forever altering the search-marketing landscape — for the better. While still a relatively small portion of search marketing, social signals – the signals from Google +, Facebook, Twitter and other social networks that Google considers in its algorithm — are already being optimized for by sophisticated search marketers. More broadly, the digital-advertising industry is poised to reach $39.5 billion in 2012, according to eMarketer, and will overtake TV advertising spend by 2016. That’s too big a pot to be arguing over.
By Keith Trivitt | @KeithTrivitt | Director, Marketing and Communications
Courtesy of blogtipswriter.com
Facebook has been all over the news lately. Unfortunately for the company, much of that news has been of the non-positive, stock-sinking variety. But there is a silver lining: Facebook appears to be finally getting its act together when it comes to brand advertising! At least, that’s what we’re led to believe by the frenetic PR push the company has been on in recent weeks.
The reality, as Digiday’s Brian Morrissey expertly dissected in a recent post, is more nuanced and less rosy for the social network. In that blistering post, Morrissey declared what many digital marketers have long grumbled to themselves: “Facebook’s got a brand problem.”
The post details how, despite some laudatory press about its overhauled ad offerings, marketers aren’t buying the hype that Facebook is trying to portray about its value to advertisers. “More often than not, marketers proclaim to love Facebook, only not for the ads,” Morrissey says. But much of what they love about Facebook is its “earned and owned media” and brand equity-building qualities: the fact that it allows brands a free and enormous platform upon which they can distribute their messages to whomever they’d like.
Despite this apparent upside, there are many reasons why skepticism remains high among marketers over the value of advertising on Facebook. Whether it is the feeling that Facebook just doesn’t just doesn’t care about brands, or the daily grind marketers have trying get some semblance of reasonable stats and analytics about the value of the money they spend on Facebook advertising, the general perception seems to be that Facebook is putting on a show for advertisers rather than helping them deliver results. (more…)
While not ideal, DNT legislation could foster improved media integration
Proposed do-not-track (DNT) legislation will create numerous barriers for advertisers, brands and agencies. The ability to track consumers’ online purchasing habits and deliver targeted ads based on data collected is a cornerstone of e-commerce.
DNT legislation will make online ads less relevant, forcing potentially unforeseeable changes — not to mention increased costs — into the digital ecosystem. This will adversely affect consumers’ online experiences in a manner few proponents are willing to admit.
Despite these issues, the enactment of DNT legislation will not destroy online advertising.
While we do not wish to see this legislation passed we believe it would force marketers to be more creative in their campaigns. It may foster the development of closer connections and opt-ins between brands and consumers. This, in turn, will deliver more detailed customer data and more successful purchase paths.
Numerous products and services exist that help agencies and advertisers target consumers and collect publicly available data. If advertisers are compelled to collect that information offline (as would be the case if DNT legislation is passed), those capabilities will still remain.
The two behemoths of online advertising — Google and Facebook — offer examples of how DNT legislation could imperil future growth and innovation of online advertising but won’t dampen the industry’s prospects. (more…)
The national debt continues rising, the stock market undulates up and down by hundreds of points on an almost weekly basis, and yet online advertising spend continues to soar. Clearly advertisers see online as a viable channel to reach consumers and maximize ROI in these difficult times. And clearly CMOs are being pressured to deliver results instead of just pure branding.
Advertisers have seen the value in online marketing for more than a decade.
Over the last five years in particular, significant shifts from traditional media to online have taken place throughout many industries — a trend that is only going to accelerate. In fact a 2011 eMarketer report found that U.S. online ad spending will nearly double from $26 billion in 2010 to $49.5 billion by 2015.
The important thing to note, though, is that whether you are a CMO, vice president or any other decision maker in the marketing division of your company, you need to be thinking seriously about how to clearly demonstrate the ROI on your marketing efforts — and more importantly, the ROI on your job. Whether we are in a recession, depression, or bull market, there can never a bad time to invest your marketing dollars wisely.
I sincerely hope this resonates with the marketing budget controlling masses, as you don’t have to know anything about media channels to be successful. You just have to know basic math — and the online marketing community is here to make you turn that math into better marketing and job performance.
Certainly the status quo has never gotten anyone ahead. In the words of William Wallace: “You know what happens if we don’t try? … Nothing.”
Some marketers love to bash Facebook ads. We saw it in the immediate aftermath of General Motors pulling its $10 million cache of ad buys just days before Facebook’s IPO. We continue to see it as the company’s stock price stumbles.
The truth is, Facebook is finally developing new, exciting ways to deliver real value to online advertisers. It’s time for marketers to recognize that value and get serious about Facebook ads.
In recent weeks, the company has announced a number of prominent changes to its ad platform, including a real-time bidding exchange, mobile-only ads, and a rumored ”want” button that would “only work with content identified as relating to a purchasable product.”
Facebook also has increased its outreach to the advertising industry. Through various public and private campaigns, it is working to educate marketers about its multitude of ad options and addressing their concerns about the need for more precise data and analytics. At the Cannes Lions festival last month, Carolyn Everson, Facebook’s vice president of global marketing solutions, made the rounds touting the social network’s various ad options.
The key to the success of all of Facebook’s new ad options is segmentation. Segmentation gives marketers the ability to analyze and make real-time media buying decisions based on data available through Facebook’s interface. For agencies, segmentation marks another opportunity to optimize, target deeper and increase conversion rates. The segmentation and retargeting opportunities now exist that will enable Facebook ads to be profitable for brands.