November 23, 2014 by
TV and Digital are the two media channels that now receive the most ad spending. They are the only two media channels where ad spending is increasing as opposed to Print, Radio and Outdoor where it is decreasing. If current trends continue, Digital is expected to overtake TV by 2018.
Marketers spend more in Digital but many companies ask: Show me the ROI!
To better understand Digital Marketing ROI and this trend, we recently published 11 Studies Prove the ROI of Digital Marketing. Below is an Infographic of our findings from Piktochart, a company that offers an all-in-one online infographic application where anyone can create custom infographics, banners, reports and presentations online utilizing an easy interface that everyone can use.
11 studies is a significant number. If you need more convincing, here are 6 more studies that prove Digital Marketing ROI.
- ADAGE: (WHERE DO WE SPENT OUR TIME?) At 3.9 hours daily, TV viewing remains the most time-consuming media activity, followed closely by going on the internet with a computer, not for work, at 3.8 hours. 95% of respondents go online at home; plus, 57% go online using their mobile phone, and 16% do so for at least 3 hours daily. If computer and mobile are added for internet usage, consumers now spend more of their leisure time on the internet than TV,
- HARVARD BUSINESS REVIEW (HOW DO WE BUY?): In Branding in the Digital Age, You’re Spending Your Money in All the Wrong Places, HBR reports the internet has changed the way we buy: Once, a shopper would systematically winnow his brand choices to arrive at a final selection. Now, relying heavily on digital interactions, he or she evaluates a shifting array of options and remains engaged with the brand through social media after a purchase. Consumers today connect with brands in fundamentally new ways through the internet and social channels.
- INTERACTIVE ADVERTISING BUREAU (IAB) (WHAT CAN WE MEASURE?): The IAB, 4 A’s and ANA concluded that brand engagement was not a single event; rather, it was a continuum of activities that were cognitive, behavior and emotional. They then demonstrated by detailing every possible touch point of the consumer journey how the engagement “journey” could be measured for digital through survey, eye tracking, web analytics, social listening and social analytics more effectively than any other media channel.
- MCKINSEY (WHY DOES IT WORK?): McKinsey analyzed 24 customer touch points for more than 9,000 new car buyers to better understand which touch points drive customers’ premium perceptions and willingness to pay. Among their conclusions: 1) Digital channels dominate the purchasing “journey,” 2) digital customers demand seamless integration, 3) digital products secure loyalty and 4) digital sales are bigger than expected.
- SEORCHERS (HOW MUCH DOES IT COST?): To reach 1,000 viewers, it costs between $1-$3 for Online (Search) and $5-$10 for Online (Display). This compares to $10 for Cable TV, $24-$30 for Prime Time TV, $40 for Radio and $100 for Magazine. Plus, 90% of all purchase decisions begin online.
- SYNCAPSE (WHAT IS THE ROI OF WORD OF MOUTH?): Sharing, comments, Likes, reviews and ratings are prevalent on the internet. Do they influence buying behavior? What is their value? Syncapse has been measuring word of mouth since 2010 to understand the value of a Facebook Fan. They measure Fans for over 20 major brands including BMW, Coca-Cola, Disney, McDonald’s, Starbucks and Walmart. In the latest year (2013), the average value of a Brand Fan increased 28% to $174.17. This is because Facebook Brand Fans are: 1) 85% more likely to advocate their brand versus 60% for non-Fan users, 2) Spend 42% more in respective categories than non-Fans, despite no income difference and 3) 11% more likely to continue using their brands than non-fan users.
Newer media channels always have more to prove. If your company requires proof points, 17 studies that cover a wide range of industries and media properties should satisfy those who need convincing.
Do these studies prove Digital Marketing ROI to you?
November 15, 2014 by
- Only 50% of a presentation is remembered after 10 minutes
- Only 25% by the next day
- Only 10% within a week (source: Jack Malcolm)
Even though you sweat and toil over a presentation, the facts indicate your audience quickly forgets most of it.
So what do you do to stand out? Make you audience remember? Achieve the goal of the presentation?
10 experts give their top criteria for killer presentations.
- FRAME YOUR STORY: There’s no way you can give a good talk unless you have something worth talking about. Conceptualizing and framing what you want to say is the most vital part of preparation. When I think about compelling presentations, I think about taking an audience on a journey. A successful talk is a little miracle—people see the world differently afterward. – Chris Anderson, Curator of TED
- HAVE GOOD MATERIAL BEFORE GOOD PRESENTATION TOOLS: There are lots of fantastic presentation software options including Power Point, Keynote and Prezi. Whatever tool you use, do not rely on it too heavily. What truly matters is the content and your delivery. The best use of any presentation tool is to help organize your thoughts. Successful speakers know the material well enough to work from scribbled notes as much as a glitzy presentation. – Meaghan Edestein, Global Strategic Management Institute
- PUT THE BOTTOM LINE UP FRONT: I’ve seen many presentations where the story is dragged out and tension is built, as if the person was trying to make a movie and build to the climax. But most people appreciate getting to the climax quickly without lots of buildup or foreplay. It isn’t a movie and it isn’t sex — people are busy and need to deal with the issue and then move on. – Mark McMillan, McMillan Leadership Association
- FIND THE PERFECT MIX OF DATA AND NARRATIVE: Most presentations lie somewhere on the continuum between a report and a story. A report is data-rich, exhaustive, and informative—but not very engaging. Stories help a speaker connect with an audience, but listeners often want facts and information, too. Great presenters layer story and information like a cake, and understand that different types of talks require differing ingredients. – Nancy Duarte – author of Resonate
- MAKE THE COMPLICATED SIMPLE: A confused mind NEVER buys, so focus on finding ways to make you the most OBVIOUS choice. – Michael Bremmer, Telecomquoates.com
- HAVE A CONVERSATION, NOT A PRESENTATION: No one likes being presented to. Fortunately, they do like engaging in conversations. Relationships are the heart of leadership. Further, relationships must be two-way, born of interactions. So, you and I should stop making presentations. Instead, we should engage in conversations with the people with whom we are communicating.- George Bradt, PrimeGenesis
- FOLLOW THE 10-20-30 RULE: I am evangelizing the 10/20/30 Rule of PowerPoint. It’s quite simple: a PowerPoint presentation should have ten slides, last no more than twenty minutes, and contain no font smaller than thirty points. I am evangelizing the 10/20/30 Rule of PowerPoint. Ten is the optimal number of slides in a PowerPoint presentation because a normal human being cannot comprehend more than ten concepts in a meeting. You should give your ten slides in twenty minutes. In a perfect world, you give your pitch in twenty minutes, and you have forty minutes left for discussion. Force yourself to use no font smaller than thirty points. I guarantee it will make your presentations better because it requires you to find the most salient points and to know how to explain them well. – Guy Kawasaki, Venture Capitalist
- CHUNK YOUR PRESENTATION TO CREATE PAUSES: Many people will advise that you talk slowly when giving a speech. Quite simply, chunking is forcing yourself to break your speech up into chunks of words, making pauses a necessary step before moving onto the next chunk. – Meghan Keaney Anderson, HubSpot
- USE A STRONG VISUAL ON EACH SLIDE: Fill the screen with a single, engaging photo or graphic that illustrates your point. Pop a word on top of it to alert the audience to what you’re about to discuss and to keep you on track. Images also increase retention and recall. – Karl Gude, Creative Process & Visual Storytelling Instructor at Michigan State University
- LEAVE THEM THINKING: A great speech is one that inspires the audience to think about a subject from a fresh perspective. As soon as you’ve gone, your audience is likely to turn its attention to other things — perhaps to presentations competitive to yours. Leave something to remember you by. – Kenneth Roman and Joel Raphaelson, authors of Writing That Works
Presentations are a means to an end. If you’re presentation nails it, you’ll get there. If it doesn’t, you’ll be left wondering. Does this help you create your next killer presentation?
November 11, 2014 by
A Brand Community is “a specialized, non-geographically bound community, based on a structured set of social relations among admirers of a brand.” This is according to Albert Muniz Jr. and Thomas C. O’Guinn who coined the term in 2001 with their study on Brand Community for the Journal of Consumer Research.
Muniz and O’Guinn said Brand Communities exhibit three traditional markers of community:
- Shared consciousness
- Rituals and traditions
- A sense of moral responsibility
Although it would be easy to see how a lot of brands would jump on this bandwagon, the Harvard Business Review said in, Getting Brand Communities Right, it’s not so easy. There are Myths vs Realities about Brand Communities.
- MYTH #1 :A brand community is a marketing strategy
- THE REALITY: A brand community is a business strategy
- MYTH #2: A brand community exists to serve the business
- THE REALITY: A brand community exists to serve the people in it
- MYTH #3: Build the brand, and the community will follow
- THE REALITY: Engineer the community, and the brand will be strong
- MYTH #4: Brand communities should be love-fests for faithful brand advocates
- THE REALITY: Smart companies embrace the conflicts that make communities thrive
- MYTH #5: Opinion leaders build strong communities
- THE REALITY: Communities are strongest when everyone plays a role
- MYTH #6: Online social networks are the key to a community strategy
- THE REALITY: Online networks are just one tool, not a community strategy
How do you separate the myth from reality? Who is getting brand communities right?
Here are 7 best examples of Brand Communities. (All of these Brand Communities have been around for at least 5 years and are growing).
- BEING GIRL (PROCTER & GAMBLE): The site was created in 2000 as a destination for young, teenage girls. P&G includes content provided by experts and encourages open discussion with expert advice on topics such as menstruation, eating disorders, acne and dating. They take a big-sister approach. They also advertise the companies products, Always and Tampax. Being Girl is now available in over 25 countries. It has been cited in the book, Groundswell, as delivering 4X the Return on Investment (ROI) of traditional marketing.
- FIGMENT (RANDOM HOUSE): Is an online writing community owned by Random House, the biggest general-interest trade book publisher in the world. It was founded by Jacob Lewis and Dana Goodyear in 2010. It currently has over 300,000 users. The target group of the community is mainly teenagers between 13 and 18 years old. It’s succeeded because they gave the community something to do, write and share novels. This isn’t just a community of interest, it’s a community of practice too. They highlight the best contributions of the community.
- H&R BLOCK: Tax preparation is a highly seasonal business. H&R provides immediate access to a tax professional for Q&A through the “Get Answers” section of their website but also connects you to learn and share experiences with others through their H&R Community. The effort secured 1,500,000 unique visitors and answered 1,000,000 questions for a 15% lift in business versus the period before H&R Block created the community.
- HARLEY OWNERS GROUP (HOG): Is a sponsored community, operated by Harley-Davidson for enthusiasts. The HOG is “the grandaddy of all community-building efforts,” serving to promote not just a consumer product, but a lifestyle. The HOG has also served to open new revenue streams for the company, with the production of tie-in merchandise offered to club members. Membership is 1,000,000+. The Harley Owners Group was created in 1983 as a way to build longer-lasting and stronger relationships. At that time, the company was facing bankruptcy.
- LUGNET (LEGO): When Lego Group set out to develop Mindstorms NXT, the latest version of its game for building programmable robots, it enlisted help from a group of adult enthusiasts whom it found on Lugnet.com the largest unofficial community of Lego fans. While the marketing target for Mindstorms is mainly teenage boys, the people that Lego reached out to were a group of men in their 40s and 50s who knew each other from communicating and working together on elaborate Lego projects on Lugnet.com.The group’s members, according to a Lego spokesman, contributed “incredibly valuable insights” in hardware, software, design and usability based on their own experiences.
- MY STARBUCK IDEA: Is now 6+ years-old and remains the gold standard of crowd sourced tip boxes that have actually worked for a brand and delivered ideas from customers (150,00 plus) with innovations (277) that have actually been implemented. Customers today can order a “skinny” beverage and a cake pop, garner digital rewards for using their Starbucks Card and enjoy free Wi-Fi – all thanks to suggestions from fans. “Our passionate customers and partners have been sharing their ideas with us on My Starbucks Idea, and we have listened and acted upon many amazing innovations that we have received from this online community,” said Alex Wheeler, VP global digital marketing for Starbucks.
- ORACLE COMMUNITY (ORACLE): Is a site for people interested in Oracle Corp.’s database and software products. Members share personal stories, pictures, videos and birthdays. They can create blogs on the site, form groups around themes and build networks of designated friends. Members can also schedule meetings and events both online and in person.
These examples show Brand Communities can produce significant results and ROI but they also demonstrate companies should not try to create them unless they accept are willing to accept diversity of opinion, occasional conflict and apply the internal resources necessary to engage.
Do these examples explain Brand Communities? Are they best examples to you?
November 01, 2014 by
Obstacles are things that blocks our way or hinder progress.
That “thing” can be a barrier, complication, hindrance, problem, disadvantage, difficulty, feeling of being overwhelmed, catastrophe, obstruction, drawback or stumbling block.
Obstacles are also great educators. Obstacles, by their very nature, challenge us to grow, change and adapt.
How? Here are 30 things obstacles teach us.
- They open us up to change.
- They make us examine our priorities.
- They point us to options.
- They engage creativity.
- They slow us down to help us choose the right path.
- They create new meaning around a purpose.
- They redefine progress as a series of small steps.
- They start us out taking small steps in a new direction.
- They force digging deep and finding strength and courage.
- They teach us that our plans, hopes and dreams require commitment.
- They make us ask: what can we do to make a difference?
- They increase self awareness,
- They overcome our fear of failure.
- They enable us to discover hidden gifts.
- They push us to seek guidance.
- They make us gain necessary resources.
- They make us ask questions to understand the problem.
- They reinforce a positive outlook.
- Through obstacles, we find balance and learn to keep emotions in check.
- They help us be honest and realistic.
- They are humbling.
- They focus us on the end game.
- They give us the skill of problem solving to last a lifetime,
- They conquer frustrations and make us focused on the outcome.
- They present the reality there are no miracles, only the belief in ourselves.
- They are the opportunity for growth of our soul.
- They prove nothing is predestined. They are pathways to new beginnings.
- They measure the size of our accomplishment by the obstacles we have overcome to reach our goals.
- They make us aware we are on journey and force us to identify the destination.
- They enable us to have control of our lives.
Do you agree obstacles are great educators? Did this teach you how obstacles, help us to grow, adapt and change?
October 27, 2014 by
- 83% of marketers indicate that social media is important for their business (Source: Social Media Examiner)
- 53% of social media marketers don’t measure their success (Source: Awareness Inc)
These facts indicate most companies believe social media matters for business growth. They dedicate time, regularly, but don’t know if they are getting anything back.
Does this sound like your company?
Do you ask: Social Media “show me the money”? If you do, here are 30 facts on revenue.
- Utter Digital)
- 100% higher lead-to-close rate for social media than outbound marketing (source: HubSpot/State of Inbound Marketing)
- 78% of sales people using social media to sell out performed those who weren’t using social media (source: Forbes)
- 77% of US consumers who have liked a brand on Facebook say they have saved money as a result. (Source: Lab 42)
- 75% of customers say they use social media as part of the buying process (source: IBM)
- 72% of Twitter Followers said they would be more likely to purchase from small businesses they are following than those they are not (source: Twitter Advertising)
- 70% of marketers used Facebook to gain new customers (source: Jeff Bullas)
- 66% of people who have Liked a brand on Facebook have saved $20 or more on that brand in the past 12 months (source: Lab42)
- 62% of companies have acquired customers through LinkedIn (source: HubSpot/State of Inbound Marketing)
59% rank their company blog as critical or important to their business, higher than any other social sharing site or network. (source: Heidi Cohen
Read more at http://www.business2community.com/social-media/102-compelling-social-media-and-online-marketing-stats-and-facts-for-2012-and-2013-0367234#AA3o9UfV7BWRdKdi.99
- 57% of companies have acquired customers through their company blog (source: HubSpot/State of Inbound Marketing)
- 57% of the buying process is done before sales contact (source: Corporate Executive Board)
- 55% of B2B buyers search for information on social media (source: MediaBistro)
- 54% of B2B marketers and 60% of B2C marketers said they have generated leads from social media (source: MarketingLand)
- 52% of marketers cite blogs as the least expensive lead acquisition channel (source: HubSpot/State of Inbound Marketing)
- 52% of companies have acquired customers through Facebook (source: HubSpot/State of Inbound Marketing)
- 50% of sales people who report using social media state that they spend less than 10% of their selling time using social media. That’s decent ROI (source: Forbes)
- 50% of US consumers who have liked a brand on Facebook say the brand’s social page is more useful than its website. (Source: Mashable)
- 48% of companies have generated customers through Twitter (source: iMedia Connection)
- 47% of U.S. online shoppers have made a purchase based on a recommendation from Pinterest (source: BlogHer)
45% of ads in the 2013 Super Bowl that included Twitter hashtags (source: Jeff Bullas
- 42% of customer have generated customers through Facebook (souce: iMedia Connection)
42% of companies have acquired at least one customer through Twitter. (Polaris B
- 40% of salespeople said they’ve closed between two and five deals as a result of social media (source: Forbes)
34% of marketers use Twitter to successfully generate leads (source: Jeff Bullas)
- 17% of social media driven revenue on Shopify comes from Pinterest (source: Shopify)
- 17% of people who have Liked a brand on Facebook have saved $100 or more on that brand in the past 12 months (source: Lab42)
- You are almost 5X more likely to schedule a first meeting if you have a personal LinkedIn connection (source: Sales Benchmark Series)
- B2B marketers who use Twitter generate 2X as many leads as those that do not (source: Inside View)
If some additional statistics are needed to help guide your use of social media, below is an infographic.
Do the facts convince you of social media effectiveness? Did we “show me the money”?