by tradesmeninsights | Oct 21, 2009 | Marketing Trends, Social Marketing, Twitter
Social media as a whole continues to surpass growth estimates. eMarketer reported earlier this month that Twitter has over 18 million adults who access on at least a monthly basis. That’s a 200% increase over last year.
Universal McCann’s “Power to the people-social media tracker” also sees social networking continuing to increase. eMarketer estimates that 44.2% of all Internet users in the U.S. are social network users. Worldwide, 62.5% of active users ages 16-54 have a social networking profile in 2009. Worldwide, 62.5% of active Internet users ages 16-54 have a social network profile.
Users are looking to social networking sites that can consolidate multiple social media into one place. As noted above, despite consolidation, social media is not a one-stop shop. Universal McCann advises marketers to give consumers options when engaging them through social media. Allowing individuals to share and discuss on their platform of choice remains important.
by tradesmeninsights | Oct 14, 2009 | Marketing Trends, Social Marketing, Twitter
The idea of marketers adopting social media by the boatloads is not a surprising statement. One of their biggest concerns has been will the consumer return the favor. Well some recent data shows that half of social networking users have became a fan or follower of a brand online. eMarketer recently published a report from Anderson Analytics that said, “52% of social network users had become a fan or follower of a company or brand, while 465 had said something good about the brand or company on a social networking site, double the percentage who had said something negative (23%).”
Another study from Penn State indicated that 20% of all tweets mention specific brand names or products. They studied over 500,ooo tweets and found both positive and negative comments about the brands or products.
Measuring social media success remains difficult for marketers. Many of the metrics that marketers can track on social networks today involve what is called “soft ROI”— which does not show up in the bottom line. But a study from the Altimeter Group and Wetpaint, along with a separate study from Razorfish, indicates that the stronger a brand’s social media presence, the better the brand performed—whether measured in conversations or in financial performance.
“Social networks are a constantly changing database of consumer sentiment, attitudes and information, and marketers today have only the earliest glimpse of the potential,” said Ms. Williamson, senior analyst at eMarketer. “Companies that want to maximize their presence on the social Web must take advantage of social networks in all stages of the purchase funnel, from awareness to learning to buying to loyalty.”
What does this mean to you and me? It means that you can’t just simply set up shop on social and sit back and wait for people to come. Users are seeking out their favorite brands whether it’s online or through other avenues and you must be there.
Maximize your social network marketing. Download the new eMarketer report, “Marketing on Social Networks: Branding, Buying and Beyond,” now.
by tradesmeninsights | Oct 13, 2009 | Marketing Trends, Social Marketing, Traditional Marketing
I’m hooked on the cable series Mad Men. I guess since I’m in the business and I started my ad career as the 3-martini lunches were winding down, I look at these guys and marvel at how simple their lives were. What did they have to offer the clients? TV, Radio, Outdoor, Papers and Magazines were pretty much what they had in their bag of tricks. Today, we have the Internet, Web 2.0, mobile media, digital ads and a host of other options that keep changing daily.
One of the newer ones out there is social media, and while the consumers have latched onto this in a big way, the B-to-B community has been slow in recognizing the power and potential of this marketing tool. Times are changing and the traditional marketers should come to grips sooner than later on the changing world we live in. The enclosed study by IBM should open your eyes as to what is coming and the key word is CHANGE. You think social media is a challenge, just wait. You’ll need to re-think the way you communicate with your customers, no matter who they are.
The next 5 years will hold more change for the advertising industry than the previous 50 did.
The information for this post is from an IBM global survey of more than 2,400 consumers and 80 advertising experts… the report is titled, “The end of advertising as we know it.”
Imagine an advertising world where...spending on interactive, one-to-one advertising formats surpasses traditional, one-to-many advertising vehicles, and a significant share of ad space is sold through auctions and exchanges. Advertisers know who viewed and acted on an ad, and pay based on real impact rather than estimated “impressions.” Consumers self-select which ads they watch and share preferred ads with peers. User-generated advertising is as prevalent (and appealing) as agency-created spots.
Based on IBM global surveys, there are four change drivers shifting control within the ad industry:
- Attention – Consumers are increasingly in control of how they view, interact with and filter advertising in a multichannel world.
- Creativity – Thanks to technology, the rising popularity of user-generated and peer-delivered content, and new ad revenue-sharing models (e.g., YouTube, Crackle, Current TV), amateurs and semi- professionals are now creating lower-cost advertising content.
- Measurement – Advertisers are demanding more individual-specific and involvement- based measurements, putting pressure on the traditional mass-market model.
- Advertising inventories – Will be bought and sold through efficient exchanges, bypassing traditional intermediaries.
There is no question that the future of advertising will look radically different from its past. The push for control of attention, creativity, measurements and inventory will reshape the advertising value chain and shift the balance of power.
by tradesmeninsights | Sep 15, 2009 | Marketing Trends, Social Marketing
It’s always interesting to see which articles pull the best each month. Enclosed are the top ones from August ranked in the order of the amount of traffic each generated. Enjoy.
- 10 Engagement Tactics That Will Help B-to-B Marketers
- Social Media: Who Uses It and Why?
- Industrial and B-to-B Marketers Can’t Ignore Social Media Anymore
- 5 Tips for B-to-B Marketers to Get the Most out of Twitter
- 2009 Trends and Spending Strategies for B-to-B Marketers
- Social Media: 4 Signs Your Tradesman Wants to Hear From You
- 5 Tips For B-to-B Marketing Thought Leaders on How to Increase Your ROI.
- Forrester Report: Why Most B-to-B Blogs Fail
- 5 Quick Tips to Promote Your Post
- 5 Ways to Find Prospects on Twitter
by tradesmeninsights | Sep 1, 2009 | Marketing Trends, Social Marketing
Everyone is trying to get the most out of what they’re spending this year and the manufacturing sector is no exception. With B-to-B leads from traditional sources slowing down, marketers are looking for other avenues. Many are shifting dollars to online options as they are less expensive and easily measurable.
According to a recent report from Global Spec, Trends in Industrial Marketing 2009: How Manufacturers are Marketing Today, the number-one focus of marketers is to keep the customers they have and generate new high quality leads. Marketers are under pressure to choose programs that are measurable. So where is the money coming from? Many industrial marketers are reducing trade shows and print ads. 29% of respondents said they already are spending more than half of their budget online. 48% said online will account for a bigger proportion of their budgets for the balance of ’09.
The top 3 online marketing channels for companies are:
- online directories/web sites
- e-marketing using in-house lists
- SEO
It looks like online and digital are going to become an ever-increasing portion of marketing budgets moving forward. Forrester Research predicts that by 2014, interactive spending will hit 55 billion ( pproximately 21% of total marketing spends). The Forrester study also indicated that much of the interactive dollars will come out of traditional spends.
What’s your feeling on this subject? Are you doing more online? I’d like to hear your thoughts.
by tradesmeninsights | Aug 26, 2009 | Marketing Trends, Social Marketing
Would it surprise you to learn that the biggest gains in who’s using social media are among older users? According to a report in eMarketer, “consumer internet barometer” U.S. internet users who visited a social site in the 2nd quarter of ’09 rose 16% over last year. Females still lead males in usage and 70% of users were under the age of 35. The most popular sites in order were: Facebook, MySpace, LinkedIn and Twitter.
Now that we know who uses it, we can tackle the why.
According to a post in eMarketer, marketers surveyed by Marketing Sherpa in late 2008 found that increasing brand reputation and awareness, along with improved search engines, headed up the reasons why they thought social media was an effective tool. Blog or social media advertising, online news release distribution and blogging led the way as far as tactics they thought to be useful.
Now based on what you just read, what do you think business executives think of social media?
Sean Callahan from BtoB online reported recently on a survey conducted by Russell Herder and Ethos business law that business executives were grappling with social media. The online survey of 438 executives showed:
- 51% fear social media and that it could be detrimental to employee productivity
- 49% said social media could damage the company’s reputation
At the same time they said:
- 81% can enhance relationships with customers
- 69% can aid in recruiting
- 64% it could function as a customer service tool
About 70% say they are going to increase their social media, however only 33% had a social media policy in place.
I don’t know about you, but I think these guys are talking out of both sides of their mouth. The only thing they should do is support a social program. They should stick to what they know and do well and let the marketing departments do their jobs.
What are your thoughts?
