The Rise of Social Commerce (s-Commerce)
We've seen companies like Amazon and Facebook transition from a laser-focused CD and movie source and social media network respectively, into multi-faceted money making machines. Amazon has positioned itself as THE online marketplace in the United States and has diversified into other web services like hosting and marketing as well as developing its own distribution infrastructure to the point that it can rival virtually any logistics company and it has its sights set on grocers too.
Meanwhile, Facebook has gone from cool collegiate exclusivity to the most ubiquitous social channel in the world. Recently, Facebook revealed that it would amplify its existing e-commerce ads to account for showcase shopping ads. Just like Google, Facebook is taking advantage of their online resources to help advertisers push more merchandise just in time for holiday shopping. The new ad format allows advertisers to display one main picture with several product images that would, ostensibly, have their own unique landing pages. This gives the potential consumer a broader understanding of what the retailer may be selling and what's specially priced.
Pandora's box is open and there's no going back. Linking a bank account to everyone's personal Facebook page isn't far off and this may raise security concerns all over the world, but for now, social media will undoubtedly see a rise in sell-through, especially with reasonably priced impulse buys. It will continue to command an ever-increasing amount of your advertising budget as their ads evolve in terms of what can be done with them creatively and who can be targeted strategically. Currently, only a few heavy hitters are testing out the new format, but look for a wider roll-out soon with other companies following suit in 2017. Admittedly, I laughed derisively when some people claimed that Facebook was coming for Google. Well, it appears that not only do they want to compete with Google, but with Amazon and Alibaba as well. What's more is that they seem to have the golden touch right now and I wouldn't put anything past them.
Mobilizing Marketing: The Shift to Mobile Ads
Clearly, mobile ads are the future. Like, the very near future. Maybe by 3:30 today. Utilizing mobile advertising potential to its maximum involves real-time marketing savvy and ubiquitous access to the demos that you are trying to reach. Mobile advertising allows for both. Whether its through social media or direct email/text, companies can use mobile ads to get their products and their brand literally in the hands of consumers.
Technology trends are pointing towards wearables and modular applications. My 5 year-old has a tablet. So does my 93 year-old great-grandmother. Opposite ends of the age demo but digitally connected to the world in the same way. The way that companies market themselves as a whole is going to continue to see a fundamental shift towards mobile due to media itself going that way. As the younger generations age, the way they consume media will continue to evolve to be more accessible to fit their lifestyles.
As consumers continue to cut ties with traditional cable/satellite operators and leave the desktop computer behind in favor of tablets and smartphones, the ability for brands to reach consumers through these methods wanes as well.
Watching shows on the train to work. In the car on a road trip. Riding the bus to school. In the cart on the 13th tee. It's not what is soon to be happening. It's what's already happening. And although the willingness to spend on mobile content is there for those companies that want to stay trendsetters in brand awareness, there are still many companies slow to the party when it comes to mobile marketing.
Millennial Generation. Who are they?
Clients right now are not really focused on the millennial generation – DEMO: adults born after 1980. The truth is, should companies start looking to a long term brand shift, that positions them better with millennials? As a millennial myself, I would tend to lean towards…who can really say at this point. Why are we defining a generation's future buying potential – the entire reason we advertise to a demo – based on research that creates a label of age and wants/needs, focused on right now mind you. Why doesn't anyone talk about generations X and Y? It seems strange to me that we just jump right over two generations from baby boomers, straight to millennials. One could, and should argue that generation X and Y are essentially one in the same. With that, why are 34-45 years olds neglected to be “sought” after?
It's like this, a bigger percentage of the population, in terms of sheer numbers and buying power, is not the millennial generation. My stance is this, don't neglect the consumer with the buying power today, and give the millennial generation time to become a more powerful consumer, before trying to tilt your business plan. My generation of “millennials” is indeed still very fickle. Many of us are still trying to figure out what we want to do for a living. While the majority of us are concerned with being a good parent, having a successful marriage and helping others in need – many of us simply don't have the income yet to be considered a target demo for the majority of small business owners.
The way to position your business with any generation, not just millennials, is to listen and become responsive to needs. I'm not saying to become reactive, but rather be smart about how you are positioning your advertising and marketing efforts to all generations. Have the ability to develop long-term campaigns that can pivot based on consumer behavior. We have some great research available to the public on millennials, contact us today for a free copy of our research. support@madmenmarketinginc.com
Guide To World Cup Advertising Success
The World Cup is a great place to raise brand awareness, but probably isn't the event you're going to debut a new product or unveil a revolutionary idea. This is simply because the World Cup has a global viewership and is fragmented based largely upon national allegiances. For instance, viewership in England among women increases from 38% to 46% when their native country is playing (The Guardian, June 2010). Another reason for this is that the event takes place over the course of a month and is similar to March Madness in that regard.
Because many companies see the World Cup as an opportunity to showcase their business on a global scale, the creative is top-notch. This may be one of the reasons that the ads resonate with women more than with men, although the viewership skews more male than female.
In an event that showcases superstars like Messi, Suarez, Neymar, and Ronaldo…this is your opportunity to make your business the hero. YOU'RE the superstar. Now is not the time to do a human interest piece that tugs at your heart strings. Promote the brand early.
Unexpected ads that work within the context of the World Cup seem to gain traction among viewers. The popular ” I believe that we will win” chant that the USA has adopted, might be a good example of how a business might pair nationalism, fanaticism, and product placement if it fits with the brand.
Celebrity endorsements are hit and miss. It would take a global superstar with incredible recognition for this to work they way people are accustomed.
Finally, clarity of vision is paramount.
So, there you have it! Take these tips and corner kick them to your best play-maker for a game-winning header and enjoy the fruits of your labor!
The Epic Battle for Net Neutrality
What is net neutrality? Well, net neutrality is the “principle that Internet service providers should enable access to all content and applications regardless of the source, and without favoring or blocking particular products or websites.” Basically, one website can’t be favored over another in terms of speed or accessibility just because they paid for it.
Typically, when this topic is discussed, proponents of net neutrality mention how consumers will not be given equal access to internet content such as streaming services unless the website or the consumer pays for it. They argue that smaller websites who cannot pay outrageous fees to keep their content accessible will fail. Freedom of internet speech will be given only to large corporations with enough money to pay for it. This is true, but not the only problem. All small businesses, not only those in entertainment, will be hurt if the internet is not kept open and accessible.
Smaller marketing firms, and by extension other small businesses, will be hurt tremendously if net neutrality ceases to exist. Small businesses often rely on the internet as a cost-effective form of advertising. The internet allows small businesses to reach people around the world at a much cheaper rate than traditional media. If net neutrality is abolished, small businesses will no longer be able to compete against large corporations for cheap ad-space on the internet. Large corporations will have the money to advertise on sites that are more accessible to consumers.
In short, this is a very big deal. Just ask Netflix…who had a brief fallout with Comcast…their streaming content was streaming noticeably slower until they reached a compromise with the internet service provider. Lo and behold, in February, they began to see an immediate improvement (or perhaps just restoration of where it once was) in streaming speed. Netflix was literally held hostage by Comcast until its demands were met. It's naive to think they playing field will ever be completely level, but steps should definitely be taken to ensure that we're doing all we can.