Too many brands and businesses still try a scattershot approach at social media. They try to be everywhere and spread their efforts too thin.
They also apply a one-size-fits-all approach. Whether it’s in-house or external social media marketing teams, they craft campaigns around a single communication style and a rigid set of formats — and expect them to drive the same results across platforms.
Particularly for smaller or niche players — or really, anyone on a constrained budget — it makes more sense to double-down on a single platform, learn its idiosyncrasies, and become an expert at cultivating its audience base.
In a new report from BI Intelligence, Business Insider’s paid research service, we dig into the reasons why platform-centric approaches make more sense, and explore how to make them work. Here are the benefits:
- Social media budgets become more manageable. Your organization will no lon! ger leak dollars with a half-hearted attempt to be, and post everywhere.
- Brands and businesses will gain a more authentic voice. It’s difficult to develop a genuine, humanized voice on every platform. Attention to a single network will help brands cultivate a more persuasive personality.
- Become more efficient. Many companies on social media see a great deal of success on one platform, but still grind away at others. Why not focus resources on where your engagement is deepest?
- Improve your chances at earned media and viral success. These grow out of a deep understanding of a social network’s idiosyncrasies, not by throwing everything at the wall to see what sticks.
- Develop a knack for avoiding social media gaffes and bloopers. Many of the social media foot-in-mouth moments of recent years grow out of a lack of comprehension for what makes each network tick.
- Users have developed sophisticated network-specific cultures. They can spot a poser from a mile a way.
- Creative freedom: This may sound counter-intuitive, since choosing to focus energies on a single platform would seem to close off options. But focus actually opens up opportunities. Ideas come more easily once a single primary platform is chosen.
- Avoid top-down strategies that try to fit round pegs into square holes. Ideas for posts and campaigns will be driven by a more bottom-up thought process. And not by the nebulous question, “What’s our social media strategy?”
- Drive better recruiting and contracting decisions. If a single platform is prioritized, the search for social media talent becomes clearer. Different kinds of expertise are required for each network.
- Finally, a deliberate platform-centric approach allows for more straightforward testing and tracking of results. If one platform focus doesn’t work, another emphasis can be tried. But data will be cleaner and priorities will be easier to rearrange.
Direct-response, search spending garners the greatest share of retailers’ digital advertising
The US retail industry’s advertising spending on paid digital media will hit $9.42 billion in 2013 and rise to $13.50 billion by 2017, for a 10.5% compound annual growth rate (CAGR), according to a new eMarketer report, “The US Retail Industry 2013: Digital Ad Spending Forecast and Key Trends.” While gains in digital outlays have slowed over the past several years, retail remains the top spender among US industries and will retain this lead for the duration of the forecast period.
However, eMarketer also expects the retail industry’s share of the total US digital advertising pie to decline slightly, from 22.3% in 2013 to 22.0% in 2017.
Whether on desktop or mobile, direct-response campaigns will continue to take the lion’s share of digital ad spending by the retail industry. Marketers in the retail industry—led by online and multichannel retailers, but also including catalog retailers and restaurants—will invest 64.6% of their paid digital dollars in direct-response efforts this year, according to eMarketer estimates. Brand-focused campaigns will make up the remaining 35.4%.
drag2share: Social Media Strategy Is Now All About ‘Earned Media,’ Generating Free Exposure For Campaigns
In a new report from BI Intelligence, we define what exactly earned media means in the context of a modern social media strategy, analyze how to make earned media via social media a strategic focus, detail the various different approaches and methodologies brands are using to generate earned media via social media, and look at the various benefits and potential disadvantages of generating earned media via social media. Read >
In the paid search industry, Google’s Enhanced Campaigns have been top of mind for many, with the mandatory transition to the new model less than two weeks away. While RKG data shows Google having another strong quarter with spending up 18% Y/Y in Q2, the performance impacts of Enhanced Campaigns have been minor to date for larger advertisers.
New Trends In Mobile Advertising (Velti)
Velti’s State Of Mobile Advertising report compares mobile ad statistics for May 2013 with a year earlier, and comes up with some interesting trends. Overall, it’s clear that there’s a shift away from direct response type advertising, and toward audience-based, impression-based marketing characteristic of brand campaigns. The evidence for that is in the move toward larger ad units, cost-per-impression rather than cost-per-click advertising, and the decline of gaming apps in terms of ad impression share. Here are a few stats:
- The iPhone saw a 4.7% increase in full-screen ads between May 2012 and May 2013
- Gaming apps saw their ad impression share drop 15% in the period
- CPM (cost-per-impression) campaigns rose 30% year-over-year
- iOS saw a 5% increase in its impression share
Popular crowdfunding site Kickstarter just shut down a fake campaign for beefy jerky.
Over $120,000 was raised before Kickstarter froze the funds.
The “company responsible” — Magnus Fun Inc. — has since deleted its account, but it managed to pull the wool over the eyes of 3,300 supporters.
The Kickstarter promised the world’s first “100% Japanese Beer Fed Beef Jerky.”
CNN Money reports that policing the large amount of Kickstarter campaigns is an overwhelming task, and the crowdfunding site turns to its users to raise red flags. If there’s enough evidence of foul play, the site will quickly shut down funding — hopefully before the money is deposited into the company’s bank accounts.
The most obvious red flag was the Kickstarter campaign’s lack of information on its founders.
Pitch videos often feature a company’s CEO or founder excitedly talking about how their idea deserves your money — Kobe Red’s beef jerky video doesn’t feature a single face.
A documentary crew vital to the take-down investigated Kobe Red’s campaign, pointing out suspicious comments praising the beef jerky, in their film “Kickstarted.”
1. Why Cross-Screen Marketing Will Be A Game-Changer For The Mobile Industry [REPORT]: The question ad buyers have is whether advertising across screens can really help drive forward an overall campaign goal better than TV-only or traditional online campaigns.
In other words, is it worth the trouble? A growing number of mobile ad industry companies are arguing that a cross-screen approach integrating mobile is more effective.
As recently as late 2010, mobile commerce was only 3% of e-commerce. By the end of last year’s holiday shopping season, that number had risen to 11%, according to comScore. That’s approximately $18.6 billion in consumer spending – and that doesn’t even include travel-related purchases, which comScore counts separately.
New mobile merchandising trends — merchandising being the art of selling people products they didn’t know they wanted — like mobile catalogs and coupons are helping to drive this explosion.
Thanks in part to this new ecosystem of retail and shopping apps, mobile-generated retail spend could rise to 15% of retail e-commerce by the end of this year.
In a new report from BI Intelligence, we examine the main reasons why mobile commerce is exploding, dig deeper into the numbers underpinning the explosive growth, and analyze the new mobile merchandising trends — like mobile catalogs and coupons – that are contributing to this growth.
<! strong>< a href=”https://intelligence.businessinsider.com/welcome?utm_source=House&utm_medium=Edit&utm_term=MC4&utm_content=link&utm_campaign=BIIMobile”>Access The Full Report By Signing Up For A Free Trial Today >>
Here’s a brief overview of why retailers and brands are offering mobile coupons:
- Driving digital revenue: Successful coupon campaigns can help e-retailers acquire customers and drive online sales. By 2014 the number of mobile coupon users is expected to increase to 53.2 million a year. At roughly 10%, the redemption rate of mobile coupons crushes that of print coupons, which hovers around 1%.
- Increasing offline sales and foot traffic to physical stores: Effective coupon strategies can lure more consumers into bricks-and-mortar locations. Mobile coupons are also proving to be a path into mobile for large consumer packaged goods brands that have previously shunned the medium.
- Gathering data: Because they are received on phones but often redeemed offline, coupons are a perfect medium for acquiring consumer data. It is a great way for them to collect data on offline purchases and close the mobile-to-offline purchase loop. In a world where the linking of offline and online consumer behavior is still a daunting challenge, that’s a valuable resource.
- Building relationships: Coupons are essentially just another channel through which to communicate with consumers. It’s useful to think of coupons less as a discounting vehicle, and more a piece of content with an offer appended. If coupons are done right, they will weave a customer and a retailer or brand more tightly together.
- Examines the three main reasons why mobile commerce is exploding
- Digs deeper i! nto the numbers underpinning the explosive growth
- Analyzes new mobile merchandising trends — merchandising being the art of selling people products they didn’t know they wanted — like mobile catalogs and coupons – that are proving to be successful in driving mobile business