Category: Business

Missing my favorite event of the year assembled by @dherman76 

As I sit here thinking about the week ahead, I find myself truly disappointed to not be joining my friends and colleagues at this year’s Silicon Alley Sports event. On one hand, I’m appreciative of the opportunity to be busy with amazing client growth plans. On the other, I am sorry that I won’t see Darren’s vision take form in what will no doubt be another great year. 

From performance to brand building and several tech offerings in between, Darren’s event is one of the best places to meet up with those who make moves in the media and connected marketing landscape. 

Those of you interested in attending next year, let me know via DM. It’s an invite only event but I will be happy to bring a plus one next year if the fit is right 😉

I’ll be looking for photos and recaps from those of you going. 
http://www.siliconalleysports.com/new-page-1/

Gen Z Hates Your Ads … but They Love Your Videos

One hope for display

How do we solve for the death of display and consumer aversion to ads? Create a better experience for the end user, and start doing that with the video medium they embrace.

In fact, the industry has been morphing into video, and the speed at which it’s happening is picking up. Facebook has been quickly releasing new video-ad formats; shoppable video ads appear on Snapchat and Instagram; and Twitter partnered with Bloomberg Media on 24-hours-a-day news streaming.

Video completely reinvigorates a consumer’s end experience with an ad. For example, AOL found that mobile video ads are five times more engaging than standard banner ads, with technology and business verticals seeing over 800% higher engagement. Additionally, ads that incorporate video drive 9X as many post-click site visits as standard display ads.

Video is a versatile, engaging and sharable format — three key factors that any ad today needs to break through the noise in a saturated digital landscape.

Not only can video quickly deliver a message in an engaging way, people share well-crafted video with others. No one shares a display ad unit with their friends.

The static display ad will become one of those relics our children laugh about because, eventually, video will move into its rightful place as king of advertising. The industry needs to embrace this, and focus on better video user experiences (new formats, best practices on length, content and brand safety).

If the “Snapchat” generation is a barometer for what the future of consumer ad expectations will be, experience needs to overcome thoughtless monetization. It’s time for all advertisers — and the ad tech companies they rely on — to deliver.

The Era of the Empowered Consumer: Insights From the Gartner Digital Conference

Marketing is getting smarter.

Jake Sorofman, a research vice president at Gartner, said that CMOs are on track to spend as much (or more) on technology than their CTO and CIO counterparts this year; more than one-fourth of every marketing dollar is spent on technology.

Dan Curran, CEO of PowerPost, a client of ours, was really intrigued by this finding. “The conference certainly left everyone feeling optimistic regarding the evolution of content marketing technology,” he said. “However, every stage of the content supply chain must evolve.”

And as marketing evolves to become savvier and more intelligent, so will the content it’s creating for audiences. Most audiences and content consumers have grown to expect somewhat more personalized content from the brands they interact with, and that content marketing trend is only going to continue with a move to “atomic content.”

2. Customer journeys are discovered, not created.

I’ve seen plenty of marketers waste time and resources by trying to develop buyer personas and engineer their customers’ path to their company and then create content around what they’ve put together. However, the best customer journeys aren’t created; they’re discovered.

And with additional players in the game — especially social media platforms and other tools that make it easy to distribute content — your audience members’ journeys are more complicated than ever. Andrew Hsu, CEO of Spotlight, noted, “Marketers must acknowledge the remarkable roles Facebook, Amazon, Apple, and Google play in their customers’ lives. From customer acquisition to relationship building through customer servicing, marketers will be borrowing moments from, shaping experiences within, and co-existing beside these market-shaping platforms.”

To improve your customer experience, study what your customers actually do, what kind of content they consume, and where they go for it. Use data to discover how your best customers are coming to you, and create content that enables their journey.

3. Content is your best tool for hitting trust touchpoints.

Marketing is expected to create exceptional brand moments at every customer touchpoint, and audience members touch six different channels before they become customers.

Think of touchpoints with your audience like moving targets: It’s not going to be easy to hit each one every time, but as marketers, it’s up to you to hit as many as you can — and content can be your biggest help. The more you hit, the better you keep your audience engaged and the more trust you build with them. So listen, learn, and engage with triggered, personalized content.

https://www.inc.com/john-hall/the-era-of-the-empowered-consumer-insights-from-the-gartner-digital-conference.html

Google Assistant is seriously awesome. 

Yesterday we learned that Google Assistant is about to offer more capabilities on your phones and gain several smart and interesting features, but there’s one other piece of interesting news: it’s also now adding support for more smart home devices and appliances.

Google has updated its support page for partners and services to add 11 new companies. Here they are with a short explanation of what they do:

All of these new devices and services will be natively supported in the Home Control section of Google Assistant, by simply tapping the floating + button to add new products.

But there are other additions as well, except they’re “Actions on Google,” i.e. they’re third-party implementations that you can find under Assistant apps and not the regular Home control section. These are like Alexa’s skills, you have to ask to talk to them or say their name specifically, and you will get an answer with a different voice than the regular Google Home or Assistant voice.

However, they’re proof that more and more companies are getting on the Assistant bandwagon, even if they don’t have the full blessing of Google to go directly into the directory of smart home products. And there are big names here:

  • iRobot (support page), the maker of the Roomba robot vacuums
  • GE (source) and its Geneva connected fridges, ovens, washers, dryers, AC units, and more
  • LG (announcement) for its Signature washer, dryer, fridge, oven, air purifier, AC unit, and robot vacuum
  • Blossom (official site), a company making smart sprinklers.

There might be more that we haven’t spotted yet, so let us know if there are other new additions to the Assistant apps selection and what your favorites among all of these are. I’m excited about Nanoleaf since I have an Aurora, but there are more companies that have piqued my interest in the list that I might be taking a closer look at.

http://www.androidpolice.com/2017/05/18/google-assistant-can-now-control-appliances-smart-home-devices-including-roomba-lg-ge-d-link/

Let me get you to a human faster

A recent article on millennials at salesforce.com referred to them as the Convenience Generation. Perhaps it’s just me – and it wasn’t the apparent intent of the author — but that moniker seems to have a negative connotation, like millennials can’t be bothered to drive to a store, make a telephone call or get off the couch to change the channel.

It’s not an inaccurate characterization, but why is convenience so important to them? Perhaps it’s because they’ve never lived without it.

Technology has grown to a point to where we don’t have to go to a store to make a purchase, go to a library to do research, install a shelf to store our books, make a phone call to talk to a friend, or heaven forbid, step across the living room to switch stations on the television.

Millennials have never known a world without remote controls, cell phones or the Internet. Smartphones have become advanced to the point where we’re essentially carrying computers around in our pockets. And new apps are developed every day that eliminate the need to stand in lines or call ahead to place an order.

It isn’t millennials fault that they’re accustomed to these conveniences – and it shouldn’t be surprising that they’ve come to demand them.

That’s why successful businesses today must not only know their customers, but also the many devices and apps they use in their everyday lives, the social media they use to communicate and the media through which to reach them.

As salesforce.com blogger Tamar Frumkin notes, a business must anticipate the needs of millennials – and all its customers — and save them time by offering smart self-service solutions across a variety of devices and formats.

But don’t be fooled into thinking that millennials’ love for technology and convenience means the human element is no longer important. While an Aspect Software study found that nearly three-fourths of millennials prefer to solve customer-service issues on their own, it’s not the human that’s often at the other end of the typical customer service call that’s the problem – it’s the inconvenience of getting to that human.

Millennials crave human connection as much as any other generation, but the media in which those connections are made have changed. Where Baby Boomers went to the store and met with salespeople directly and Gen-Xers spoke with them on the telephone, online chatting or social media solutions are among the ways to reach the newer generation of consumers.

The goals are the same. You want to make a sale. They want to be satisfied with their purchase. But the tools are different. And to be successful with a generation whose collective purchasing power is expected to exceed $3.39 trillion by 2018, you’ve got to keep up.

Mobile Usage Trends on YouTube [Infographic]

Last week, YouTube announced an amazing stat – the platform now serves a billion hours of content per day to viewers. That figure towers over last reported numbers from Facebook (100 million hours of video content per day) and underlines why YouTube is still the key destination for online video content.

Yes, Facebook video is on the rise, and live-streaming is growing, but YouTube has become part of our interactive process – searching for something on YouTube is now as commonplace as ‘Googling’. Any brand planning a video content strategy needs to consider YouTube in that mix.

And here’s another YouTube stat to consider – according to this new infographic from comScore, 70% of all time spent on YouTube is now conducted via mobile device. comScore’s data underlines the importance of mobile for YouTube – which lead to them creating a new data report on mobile video metrics for YouTube and its channels.

While YouTube content is obviously optimized for mobile by default, the data underlines the importance of considering the mobile experience when creating YouTube content, along with some important mobile consumer trends to keep in mind.

Check out the full infographic below.

http://www.socialmediatoday.com/social-business/mobile-usage-trends-youtube-infographic

CONNECTED CONSUMERS- HBR

Consumer-facing companies are at a loss. The middle class, long the bread and butter of consumer companies of all kinds, is shrinking as a percentage of the population in mature markets. And in emerging markets, where many consumer companies have been laying their bets for the future, growth has started to slow.

To thrive again, companies need nuanced ways of defining a segment of consumers to focus on. Our research indicates that five questions can help point the way:

  • Do they have access to the internet?
  • Do they have a significant amount of discretionary income?
  • Are they willing to spend a lot of their discretionary income?
  • Do they prefer premium goods and services when they can afford them?
  • Do they seek to be on the cutting edge of consumer trends?

Consumers who answer yes to all five questions are what we call “connected spenders.” When we look more closely, we see that almost all of them are working-age, and over 30% are 25–34 years old. They are highly urban; nearly 80% of connected spenders live in a city. In emerging markets, that number is even higher, at 90%. While connected spenders are more affluent than the average, not all are high income. And, in turn, not all affluent consumers are connected spenders. Globally, connected spenders make up about one-third of low-income populations and two-thirds of high-income ones.

Today connected spenders count for about 19% of the global population, and that is projected to grow to 37% by 2025. Cumulatively, over this decade they will spend $260 trillion — 46% of the world’s consumer spending. In markets such as the U.S., where internet access is just shy of 90%, only 36% of the population are currently connected spenders, a number that will grow to over 50% by 2025.

Connected spenders are the heaviest purchasers in categories including electronics, travel, and dining out, and they’re likely to be early adopters of new ways to buy in any category. In financial services, for instance, these ways are the newest cashless payment methods or mobile banking products. In media, they will gravitate to multiple devices and to the newest services to stream video and audio. In CPG categories, connected spenders will be drawn to “hot” concepts such as health and wellness, and offerings that combine product and experience, such as subscription services. Shopping experiences such as in-store cooking demonstrations or shopping apps to help them find and select products in more convenient ways will also appeal to them.

How should companies approach the connected spender opportunity?

First, they should recognize that people can only be connected spenders if they are connected. Mature markets already boast close to universal levels of internet access, but we estimate that 2.3 billion more consumers will come online in the next decade, almost all in emerging markets. By 2025 just three mature economies — the United States, Japan, and Germany — will feature in the top 10 countries for connected spenders. That top 10 will include Indonesia, Pakistan, and Nigeria — markets that do not get much attention from Western companies.

Companies therefore need a two-track strategy: woo the connected spenders in mature internet markets now, where they are already deeply invested, and get ready for the new connected spenders as they come online in emerging economies over the next 10 years. This approach fits the financial realities of the world’s markets. Even in 2025 the average mature-market connected spender will spend nearly $40,000 per year, 10 times what the average in an emerging market will be.

In a mature market, consumer companies must get already-connected connected spenders excited about the products and shopping experiences they offer. Connected spenders seek novelty and exciting experiences across all their consumer activities. They prefer cutting-edge products and state-of-the-art technologies. Offerings that bring an imaginative, technology-driven twist to an existing product or that solve a consumer problem with a new digital offering will open connected spenders’ wallets.

Connected spenders are a digitally oriented advertising audience. Online marketing and advertising, particularly on smartphones, will be a good investment to engage these consumers, especially with newer formats, such as online sporting events or sites that combine curated content with online shopping. Connected spenders respond to traditional advertising as well, but they are much more likely to spend time on a manufacturer’s website or to remember an internet ad. Connected spenders will watch an ad if it is educational or highly relevant. The challenge, therefore, is to increase the information-richness of advertising and the personalization of its content and delivery.

What does “getting ready” for emerging markets’ connected spenders mean? Three things:

First, make it easy for consumers to move their consumption behaviors online as access allows, by including safe and convenient access to and education about new digital goods and services. Connected spenders enjoy learning about products. Most companies know they need to make e-commerce easy. They are far less aware of how critical education is in these markets, especially for products and services whose benefits are not immediately obvious, such as insurance or organic personal care products. It may seem that making it easy for consumers to buy the goods is enough, but it isn’t. In many cases, a great deal of explaining needs to go along with access.

Second, design products and shopping experiences to align with the dominant internet access methods of each market, as in the China example above. In many emerging economies it is well-known that consumers are leapfrogging to internet access by smartphone and may never use personal computers. But what is underappreciated is that a mobile-first or mobile-only strategy will not be the same in all markets. In China, smartphones are prevalent among urban consumers and social media sites are used for everything from shopping for groceries to paying credit card bills to buying an insurance policy. In other places, such as Nigeria, traditional trade is more prevalent and smartphone use is less so. Shoppers there will be looking for text-based tools to help them pay for items in local retail stores.

The final imperative is to be flexible in prioritizing markets, because a connected spender in spirit only becomes one in practice when internet access is accompanied by the other elements needed for e-commerce to boom — including market-wide online payment infrastructure and solutions to the logistics of the “last mile.” Companies must monitor the development of communications, transport, and financial services infrastructure.

Connected spenders are naturally engaged and eager; it’s what makes them so attractive. But they are also demanding, and their expectations will need to be satisfied. They are looking for new goods and services, with the latest technology, but with tangible benefits — and they will do the work online to find the best prices. The reward for investing to meet their demand will be significant, as the total annual spending of connected spenders will rise from $15 trillion in 2015, or 35% of global consumer spending, to over half of the annual total in 2025 — $32 trillion.

https://hbr.org/2017/02/your-business-is-going-to-depend-on-connected-spenders-so-youd-better-understand-who-they-are

Disruptors in 2017: What’s on the Horizon for Marketing Technology | MarTech Advisor

If 2016 is any indication for 2017, it will be the year of the customer experience. Jamie Anderson, Senior Vice President & CMO at SAP Hybris explains how with the surge of new technology and, with it, the increase in the number of different channels available to connect with consumers, customer experience has taken on an entirely new meaning. There are more ways than ever for the customer to touch the enterprise

In order to be successful in the coming year, CMOs must understand the technology that works behind the scenes to create a seamless customer experience. Recent research from the CMO Council and SAP Hybris showed that 39 percent of marketers believe their technology investments have met expectations in areas such as measurement and customer interaction, but they appear to be falling short when it comes to connecting content, commerce, conversation, and campaigns with back-end operational realities, supply chain logistics, and organizational capabilities that will ultimately impact the customer experience.

This year, marketers must advance their pools of intelligence from being largely marketing-focused into those that are entirely customer-focused. This demands that the entire organization – from HR to operations and the supply chain – be digitally connected and aligned around a live view of the customer as an individual –  a view that takes the past, present, and future state of that individual into context in real-time.

Understanding this underlying technology will become even more critical once virtual reality (VR), augmented reality (AR), and general machine learning become a standard practice within marketing technology – something I believe will come to fruition this year. VR and AR have the potential to completely transform the way that consumers interact with technology and, therefore, a brand. This year we saw furniture companies implement VR to allow consumers to visualize what a piece of furniture would look like in their home and retail brands use smart changing rooms to more easily connect the consumer with sales associates. These are two examples of how the shopping experience can be augmented by virtual reality to enhance the customer experience and help retailers make smarter merchandising decisions. With this technology at the core, machine learning will begin to drive customer engagement.

Which brings me to my next prediction: in 2017, physical and digital retail will merge entirely to create one consistent shopping experience. It’s become clear that consumers expect to interact with a single brand, while jumping across in-store and online touchpoints to research and make purchases. Therefore, retailers shouldn’t think in terms of individual channels. For a truly connected retail experience, they must embrace technologies that bridge the physical and digital divide.

For example, in-store sales associates should have access to customer data, including past behaviors and preferences to help personalize the shopping experience. Taking it one step further, brands can offer online ordering for in-store pick-up and vice versa. Consumer shopping behaviors are drastically changing year after year and retailers must keep up with this evolution. With approaches available to help blend the retail experience, shoppers will be able to more easily control their experience, pursuing a variety of tools and channels to complete a purchase. It is the duty of the brand to make this journey as easy and seamless as possible.

This type of connectivity of back-end systems requires a marketing automation system that uses current, relevant data to drive engagement – something all companies will need in order to compete. If their data is out of date, marketing automation is a waste of time. This year, marketers must learn to use automation systems to apply intelligent algorithms to the context of the consumer interaction that has taken place. It’s not about mass outreach – instead, automation can be used to touch each individual customer based on their past behavior and general propensity to buy. AI and machine learning will play a big part in the success of marketing automation systems next year.

Lastly, microservices will be a major disruptor in 2017. At a base level, microservice is a new software that will fundamentally change the agility with which businesses can operate. In the short term, microservices will be most prevalent at the front-end of the business (i.e., the way that brands interact with customers). Microservices can easily be integrated into organizations’ existing technology stacks to create an end-to-end solution that will set a higher bar for engagement between brands and consumers.

If there’s one key area that marketers should focus on in 2017, it is leading the digital innovation that drives change. Once businesses are fully acclimatized to operating in the digital world, they will learn to use it to use it to their advantage – by following consumer journeys from beginning to end, determining what engages a target audience, making predictions about what’s on the mind of customers – and ultimately using this information to form deeper relationships.

https://www.martechadvisor.com/articles/customer-experience/disruptors-in-2017-whats-on-the-horizon-for-marketing-technology/

The rise of the chief marketing technologist | CIO

Whenever we hear the word “digitalization”, we must understand that it is the sound of inevitability and irreversibility. The digital economy isn′t on the horizon anymore, it′s here and it is here to stay. It’s no longer a secret that the digital economy is changing the world at an unprecedented rate. Companies that are looking to succeed in this fast emerging new economy must transform themselves by reinventing their business models, strategies, processes, and practices, and that impacts on the roles of all of its employees, as well as bringing departments to work together, once everyone is more and more dependent of technology to function.

It’s no surprise that marketing is rapidly becoming one of the most technology-dependent functions across all businesses. Gartner has predicted that by 2017, a company’s chief marketing officer (CMO) would be spending more on technology than its CIO, and that is becoming more credible every day, as many CMOs have adopted technology in their everyday activities, showing that technology became the core of marketing nowadays. Every year, CMOs are globally directing their budgets to the usage of technology or software in many different marketing areas. The chart below shows in which areas CMOs are planning to use technology in 2017:

In addition to those numbers, IDC Research has also released a few predictions on how marketing will strategically use technology to accelerate client acquisition, brand awareness, to gather and analyze market and customer information and even to optimize its operational efficiency in order to generate more revenue for companies and be more accurate when directing resources, mainly by enhancing customer experience. Below follows a list with the main predictions from 2017 to 2020 on this subject:

1.  In 2017, CMOs will spend more on content marketing assets than on product marketing assets: For decades, the product launch has reigned as the kingpin content event. With a “bill of materials” stretching through multiple Excel pages, product marketing assets suck up a major portion of the marketing budget – and much of that content is wasted. The days of product content dominance are numbered. Product content will remain important, but it will take its place behind the content marketing assets matched to decision-journey stages.

2. By 2020, 50 percent of companies will use cognitive computing to automate marketing and sales interactions with customers: A few leads go right to sales. But the majority need further qualification and extended nurturing. Companies will increasingly turn to smart systems that automatically assess and respond to buyers at the point of need.  IBM recently added Watson to its marketing cloud offerings. The question is not when cognitive marketing will become mainstream – but rather, will anyone notice?

3. In 2017, 20 percent of large enterprise CMOs will consolidate their marketing technology infrastructure: Marketing has been absorbing marketing technology a bite at a time for more than a decade. Many organizations now manage dozens (if not hundreds) of point solutions. Just as marketing environments are hitting the wall of this operational complexity, marketing tech vendors are building solid integrated platforms – tailorable through a partner eco-system. A fortuitous convergence of supply and demand.

4. By 2018, predictive analytics will be a standard tool for marketers, but only a third will get optimal benefit: Early adopters of predictive analytics for buyer behavior report amazing results. The benefits come from the ability to discover hidden segments that have a high propensity to buy. Marketers can also better serve these segments with behavioral targeting. However, the majority of marketers face big challenges to achieving the benefits.  Chief inhibitors? Lack of statistical skills, stubborn organizational silos that won’t integrate data, and a culture that resists truth when it goes against tradition.

5. By 2018, 50 percent of CMOs will make significant structural changes to their “intelligence” operations and organizations:  “Intelligence” as a capability is growing in importance in modern marketing organizations. Intelligence includes market intelligence (MI), business intelligence (BI), competitive intelligence (CI), and social intelligence (SI). In the past, these four functions were spread around the enterprise. Now, IDC sees more companies consolidating into a larger, single, intelligence group – often combining with intelligence functions from other areas like sales. The elimination of silos in this important area is a positive sign.

http://www.cio.com/article/3159677/consumer-electronics/the-rise-of-the-chief-marketing-technologist.html