Archives for posts with tag: digital marketing

We just read a very interesting article from Yoni Assia, CEO of eToro.

Here’s his post…

How Google can overtake Facebook in Social Commerce in 3 Steps

As you can get from the title of the post, Yoni’s suggestion is that Google+ is ideally positioned to rule the Social Commerce space. Interesting, huh?

Yoni suggests that ads on Facebook haven’t really worked because the platform is highly personal at its core and so people don’t really respond to ads in this environment.

No argument from us that Facebook ads haven’t quite clicked (pun intended) yet, but we reckon this is more because we (and by we we’re talking all of us marketeers) haven’t yet worked out how to deliver the message on Facebook in a way that makes it more social – ie: more personally relevant.

Remember those first TV ads? They we’re basically a spokesperson standing in front of a camera, reading the teleprompter. It took the marketeers a while to work out how to create the right content for the new platform. The same is happening now with social ads.

Of course, this is part of what we’re trying to do at SocialShout! – deliver meaningful word of mouth promotion across the social networks. We’re trying to find a better way to deliver brand messages in a social setting.

Yoni talks about how the current search model of Google is geared towards low-cost/high-margin stuff and doesn’t really take account of many of the social aspects of promotion like virality, social proof, etc in their algorithms. Good point. He also suggests a few small changes they could introduce to skew the equation more towards social.

I’d recommend you read his post to get a better understanding of this bit.

To sum it up…

“G+ just needs to become the ‘Facebook for business’, the place to see what your friends are buying, and for how much.”, says Yoni.

Food for thought, huh?

PS: Thanks Yoni for a great post and for getting us thinking!

PPS: The book is not by Yoni. We just liked the image.

MDGadvertising recently created this interesting little infographic around the ROI of Social Media marketing, based on data from a number of different sources.

A few things that really interest us on this topic.

First of all, have you noticed how we are far more laser-focussed on the ROI in Social Media than we’ve ever really been with so many other forms of traditional advertising, like billboards, TV, radio, etc.

I recently read a ROI analysis of a billboard campaign for a specific model of car, where they declared that around 4% of new cars sold during this campaign were a direct result of the billboards. How do they know? Well, they asked the new car buyers. Any problem with that? Only one. Chances are there were other factors that impacted on their decision to buy – word of mouth from a friend, seeing an ad in newspaper, reading a review in an auto magazine, etc. Sure, the buyer still believes it was the billboard that closed the sale but in reality it probably only helped influence and reinforce the buying decision.

Truth is, many of these traditional forms of advertising are really geared more to brand/product awareness rather than directly creating a call to action – ie: a sale.

This infographic seems to suggest that maybe, at least amongst the Chief Marketing Officers surveyed, we’re now realising that social media ROI should consider much more than the pure sales it generates. 96% of CMOs said they are starting to look beyond pure sales & web metrics when assessing the value of social media marketing.

The second key observation for us is the statistic that says only 11% of businesses surveyed have been using social media marketing for 3 years or more. This a pretty new thing. Probably fair to say that if 90% of business has been using social media marketing for less than 3 years, many are still only dabbling, trying to find the best ways to use the tools.

That leads right into our third and final observation, for which there really is no statistic given here. Execution! How well are businesses executing their social media marketing strategy? If a campaign fails, is it because the tools are simply no good OR is it because they’re not using the tools the right way?

A spoon is generally considered a pretty useful tool for eating soup from a bowl – but not if you use the wrong end!?!

FYI – you may think this is just a silly analogy but a mate of ours actually went through exactly this situation when opening a hotel 2 years ago in a very remote location and having to train the F&B staff.

Of course you need to measure and analyse all you possibly can about your social media marketing campaigns – but just be realistic about your expectations, especially if you’ve only been using it for a short time. Don’t expect immediate success. Do expect to have to play around a bit before you start getting it right. Don’t blame the tools – but don’t blame the tradesman either. Give them both a chance to find the best way to work together.

Just to complete the food utensil analogy… now try taking that spoon from a 2 year old and giving her a pair of chopsticks to eat her dinner. Sounds pretty messy, right? Let her practise for a few years and she’ll probably do just fine.

There you go. It’s all about Spoons & Chopsticks!?!

I’ve just been reading a report by Yellow Pages Australia on Social Media.

First point, THANK YOU for calling it a ‘report’! Seems like the good old ‘report’ has been superseded by the ‘White Paper’ these days.

Second point, is it just me or is there something slightly odd about Yellow Pages doing a White Paper?

Anyway, moving on, it’s a pretty detailed discussion on ‘What Australian people and businesses are doing with social media’. What’s most interesting to me is Yellow Pages is really part of the traditional marketing world. By publishing a report like this they are clearly making it known that they intend to be a player in the social media world too. Hats off to them for not just sitting back and waiting to become completely irrelevant!

One of key stats from this report for me is that although 62% of online Aussies use social networks, only 27% of small biz and 34% of medium biz have a social media presence. Their report also revealed that 79% of big biz has a social media presence.

So for me, 3 key comments/discussions/questions come out of this…

1. You need to go where the eyeballs are!

The first time I heard this phrase was from a guy called Gary Vaynerchuck who at the time was responding to a self-asked question about why businesses should care about social media. No need to really explain any further, right? It’s pretty self-explanatory. If people are spending time there, your business needs to be there too. It’s the same rationale that’s driven the ad business for ever. What’s different now is that we’ve realised traditional advertising may well be seen by lots of eyeballs, but it doesn’t really create any meaningful engagement. Social Networks give us the chance to have real conversations with our customers, not just throw a message at them like we used to.

2. Are people really looking to deal with business on the social networks?

This report says only 20% use social networks for commercial purposes. BUT the lines between our work time and social time are increasingly blurring. Take my Blackberry. In addition to my main work email account, it also hosts my personal email accounts. So, when that little red light starts flashing to tell me there’s a new message on Sunday afternoon while I sit on the sofa watching football, I reach for it. And what do you think I do if I see it’s a work email? I open it of course!! Now, I may not action it or even read it fully, but I sure as hell do open it! The same happens on Facebook or Twitter. Even if I’m there for personal time, if I see something relevant to my work life, you can be sure I’ll engage with it.

And don’t forget, consumers are more and more turning to their social networks for information and advice on what products & services to buy and use. They call it ‘social search’ and it’s a key factor in the high valuation investors have put on Facebook. The power of recommendation from a friend. Word of Mouth. Dare I say it…Social Commerce!!

3. How effective is this ‘presence’ they speak of?

Of the 1,951 businesses they interviewed for this survey, I’d love to know how many of them actually have a real, resonating presence on the social networks. Having a Facebook page may well qualify your business as being ‘on social media’, but it hardly makes for an engaged presence that can be key driver for your business.

What’s really exciting about this whole space of business and social networks is that it’s still all very new. There are no experts. There are no proven best practices that will guarantee you success. We’re all learning as we go. The important thing is that you at least get in the game.

Here’s a link to that report –

Even if you’re not interested in the Australian business/social media landscape, there’s lots of interesting stuff to get you thinking.

A final stat…

‘Males were twice as likely to report accessing social media in the toilet (6% for males, 3% for females’.

HUH?

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