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The Wall Street Journal / SmartMoney | Featuring Daryl Colwell, VP of Business Development
… Plus, the leather wallet has one distinct advantage: It doesn’t require a battery. Even a digital-wallet fanatic is “always going to want some kind of backup,” says Daryl Colwell, a vice president at MediaWhiz, a digital media agency.
If there’s good news for consumers, however, it’s that as retailers embrace mobile commerce they could be offering deals of all sorts as part of the formula, experts say. Think “instant” coupons or other offers, designed to trigger a last-minute purchase.
And just as retailers will offer shoppers a special one-time discount for signing up for an in-house credit card, they could do the same with a mobile-wallet platform.
Mr. Colwell believes it’s this sort of promotion that could ultimately make the mobile wallet a mainstream consumer reality. “As long as there’s a big incentive for shoppers to jump on board, they’re going to jump on board,” he says. Read more …
By Steve Goldner | @SocialSteve | Senior Director, Social Media
There is no shortage of debate on social media ROI. Social media sales attribution is difficult given the reality of Facebook privacy settings and the challenges of tagging media that brands don’t own. This is true for many word-of-mouth consumer behaviors.
For example, how easy is it to attribute a customer visiting a new restaurant because of a friend’s recommendation?
But that doesn’t mean brands shouldn’t measure social media and get meaningful information on the performance of their campaigns. Like an old boss once told me, “That which is not measured, does not get done.”
When utilized properly, social media generates awareness, consideration, loyalty and advocacy — all of which can be measured. Brand managers and CMOs should be concerned with seeing measurable results in each category.
The four consumer psycho demographics listed below are inherently tied to the ultimate key performance indicator: that of sales. Consider the following parameters that can be easily captured and measured:
Awareness: Number of brand and URL mentions.
Consideration: Website visits, page views, Facebook and Twitter click-throughs, social network page views, Twitter replies and blog views.
Loyalty: Fans, followers and community members, RSS subscriptions, Facebook interactions, Twitter mentions, blog/community comments and return visits to site.
Advocacy: Retweets, re-blogs, brand mentions, comments on a brand’s assets and Facebook “likes.
Earlier this week Twitter unveiled its new Discover tab, which the social network claimed in a blog post will make it “easy to discover information that matters to you without having to follow additional accounts.” The news received a lukewarm reception in the blogosphere with PCWorld calling the changes a “double-edged sword … that involves some degree of privacy infringement — or at least erosion.” Others in the tech media and blogosphere expressed similar apathy about its value to brands and marketers.
To get some deeper insight into what the Discover tab will really means for digital marketers, I sat down with Steve Goldner, senior director of social media for MediaWhiz, and head of the agency’s social media practice. Steve works with a broad range of major clients in developing their social media strategies and campaigns, and he expressed hope for a new level of insight from Twitter regarding what consumers are saying about brands and the ability to more finely target key brand advocates.