Chart of the Day: Understanding word of mouth in the digital age
Word of mouth has always been a powerful method of marketing. Yet, marketers often struggle to make the most of this avenue. As with other areas of marketing, word of mouth, too, is becoming increasingly digital.
According to AdWeek, 92% of consumers trust recommendations from other consumers, through reviews, influencers etc., over ads or content coming directly from the brand. Modern-day consumers, especially millennials, make choices based on what their friends or role models endorse. As ad-blocking becomes more and more frequent, brands that spend big budgets on advertising, are finding it hard to reach out to their audiences.
BrightLocal’s Local Consumer Review Survey (2017) reaffirms the importance of digital word of mouth through its findings. More people are looking for reviews online and use them to decide if a local business is good or not. 93% of consumers read reviews to…
Chart of the day: 58% of internet users have uploaded video content in the past year
We are consuming more video than ever before. Global Web Index have reported that while nearly 3 in 4 internet users shared a photo last month, the figures for uploading videos are not far away, with almost 6 in 10 having done so.
Currently more than 500 million hours of videos are watched on YouTube each day. According to one source, more video content is uploaded in 30 days than the major U.S. television networks have created in 30 years. The biggest challenge for marketers is how to capture their audience's attention in the first 3 seconds and fit in all the points they need to make.
Source: Global Web Index
Base: 77, 814 internet users
Recommended Resources: Mobile Marketing Strategy Guide
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Chart of the Day: Ecommerce businesses share their ROI from personalization for the Retail, Travel and Financial services sectors
There are now many options for website personalization tools, but we know from our member research that many businesses have yet to implementation personalization for different reasons.
I'm sharing these figures from a new research report since it may help as part of putting together a business case for investment in a tool. In the report, Personalization is defined as:
"the ability to interact with each individual, at any moment, across touch points based on everything known about them, and includes testing, segmentation, and individualization approaches".
The first chart shows that across all three sectors reported, the vast majority - between 70 and 70% - do report a positive ROI. I was surprised that the proportion of businesses who don't or can't wasn't higher since many smaller businesses haven't fully implemented personalization. This perhaps reflects the larger businesses…
Chart of the Day: What are the most difficult email marketing tactics to implement? ~ Part 2 of 2
Last week we discussed the most effective email marketing tactics. This week we look at the opposite side of the coin at the most difficult tactics to use.
What are email marketers finding difficult?
In the chart below, email marketers are struggling with list segmentation (42%) the most. Testing and optimization (38%) come in second. Keep heart my little email geeks, you can do it!
It's complex - but why?
Some of the most difficult strategies are the hardest to implement. That's not a surprise. But why are email marketers struggling? Is it because there is a:
lack of knowledge?
missing infrastructure?
lack of support within the business?
lack of time?
Let's break it down
List segmentation
To correctly segment data, you need just that - data.…
Chart of the day: Marketers reveal that data quality, lead generation and user experience are the most critical challenges to the success of a digital marketing plan
When it comes to planning a digital marketing strategy we all know there are factors which affect its implementation and success.
Data quality affects things like marketing automation and personalization and marketers said it was the biggest challenge. Lead generation is also related to data quality, marketers will always need leads. User experience (UX) also came near the top at 15%, it's great to see marketers are thinking about how UX improvements can benefit sales, revenue and even data.
Bonus chart: Are digital marketing budgets increasing?
For most marketers, their digital marketing budgets are increasing.
For just over 4 in 10 (41%) their marketing budget will increase significantly, and over…
Chart of the day: 28% of internet users use social media to research and find products to buy
Time spent on social media per day is increasing and as a result, online buying is increasing. On average we now spend around 2hours 15minutes per day on social media and 28% of internet users use social media to research and find products to buy.
Our buying patterns are evolving and this is good news for many brands as commerce and social activities are taking place in the same space. Social commerce is taking off and according to Global web index 'as 2017 draws to a close, two converging trends could lay the groundwork for social commerce to re-enter the stage: changing consumer mindsets and evolving social engagement patterns'.
Source: Global Web Index
Recommended Resources: Mobile Marketing Strategy Guide
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Chart of the day: Know how and where to target Generation Z consumers in 2018
Generation Z, also known as post-millennials, are the latest generation to take to online media consumption, adopting a social and mobile-first approach to online research channels.
Targeting millennials has, in the past few years, become a buzzword for any business that wants to delve into the minds of consumers who want more brand engagement, charity-inspired campaigns, and tech-savvy marketing. However, Generation Z are, what some call, the future of social consumerism. Starting from the mid-1990's (approx 1995) these are the generation who live and breath online, where social media, staying connected and latest trends are vital to daily life.
By these dates, Generation Z are approximately 21-22 years old, starting their careers or in full swing knowing who they are and where they want to be. It is the generation where traditional advertising might not cut it anymore, they aren't looking…
Chart of the Day: Most effective email marketing tactics ~ Part 1 of 2
This is a two-part series, where we will look at the most effective email tactics and those that are the most difficult to implement. View the second part of this series to discover the most difficult email tactics to employ.
What is a tactic?
Tactic - noun
An action or strategy carefully planned to achieve a specific end.
Step 1: Where do I start?
Before you even begin to think about the strategy, you need to decide what end result you want. What does success mean for your email marketing? Does it mean:
Opens and clicks
Revenue
Subscriptions
List growth
Brand awareness
Customer satisfaction
List growth
Step 2: What tactic do I use?
In our chart below, there are 7 tactics that have been used, with varying success. There are many others that you can use, for example, A/B copy testing, asset creation,…
Chart of the day: Online advertising grew 11.5% like-for-like in the first half of 2017 in Europe.
€2.6 billion spend on advertising was added during the first half of the year, across search, display and classifieds/ directories.
Research by IAB and IHS Markit shows marketers are increasing online advertising spending. The report focuses on advertising in Europe only.
In this chart of the day blog post, I will update you on latest research by IAB Europe and IHS Markit, with charts from their Adex Benchmark from the first half of 2017.
Search advertising is leading and display advertising has grown the fastest, interestingly online video is up 20%.
As shown in the chart above, search advertising dominates online ad spend, but there is a huge jump in growth of over 13% for display advertising.
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Chart of the Day: How do Amazon, Facebook, Google, Microsoft, and Amazon make their money?
In this article, I defined Eight online revenue models along with how they are calculated, so they could be applied to new revenue models of startups.
In this chart of the day, we can see a comparison of the four / five dominant digital brands sometimes known as GAFA of FAMGA or even the frightful five.
Of these five digital businesses, it's no surprise to see that Alphabet (Google companies including their research and development) and Facebook are dominated by ad sales. Apple sales are dominated by product sales with iPhone much more important that Mac laptops and iPad. Data services like iTunes and storage are still relatively small (11%).
Amazon is different to the other four in that it focuses on online retail, yet this is less…
