The 2015 budgeting season is underway, and my colleague and Research Associate Mike Carpenter has provided some excellent guidance on how to secure the resources you will need to run your 2015 social marketing programs:
Say the words social media marketing in a budget meeting and C-suiters immediately flip on their ROI blinders. Many marketers assume that executives will just “get” social, but lack of organizational buy-in continues to limit funding for social marketing programs. Thankfully there is a way to secure your budget just in time for 2015: speak in a language executives understand by building a business case for social.
In our report Get Approval To Fund Your Social Marketing Initiative, we detail the full cycle for getting an ample social marketing budget, including the steps to building a solid business case. Here are four data sources listed in the report to help you inform your case and win the funding you need:
1. Previous Campaigns
Arguing with history is tough, so flaunt your successful campaigns to fund new ones! Showing wins from previous social campaigns trumps mere speculation by providing confident directional data. By the same token, avoid highlighting campaigns that did not impact business objectives. Budget holders will be unlikely to dole out the dough if they can not see social's connection with real business outcomes.
The two most noteworthy recent events in China are obviously the APEC Summit and the Singles’ Day shopping festival. Since its creation five years ago, Singles’ Day has become the online shopping feast that almost every Chinese consumer expects.
The shopping event was created by Alibaba in 2009 as a promotion to drive sales on Tmall and Taobao on the November 11 Singles’ Day holiday. Alibaba uses the event to reward consumers and reinforce its eCommerce influence in the Chinese market. Now the most influential eCommerce event in China, Singles’ Day is no longer Alibaba’s monopoly — almost all e-tailers and even offline retailers are getting involved.
Compared with past years, the Singles’ Day 2014 campaign has several new features:
Global reach. Top eCommerce players such as Alibaba, Amazon, Jingdong, and Suning have all announced “globalization” plans and activities around this year’s event; these plans include offering a broad selection of discounted products, preferential tax rates, free or low-cost international shipping, and speedy delivery.
Big data. According to Alizila, Alibaba will apply predictive analysis to Tmall transaction data to project order volume. The Cainiao smart logistics network and its delivery partners can use this information to allocate resources and respond to demand more precisely.
Interactions between online and offline. To expand the impact of online retail to offline businesses, Alibaba conducted offline-to-online promotional activities for home renovation and home decoration projects. It also rallied more than 300 department stores in 18 cities to join the event by offering special discounts to shoppers who buy store-value cards online and use them to redeem goods in physical stores.
Mobile reached a tipping point in 2014 as it solidified its position as one of the most disruptive technologies for businesses in decades. Not since the advent of the Internet has a technology forced businesses to rethink completely how they win, serve, and retain customers.
Forrester believes that, in the future, the new competitive battleground will be the mobile moment. Why? Consumers expect to engage with brands to get any information or service they desire immediately and in context. Today, 18% of US online consumers have this expectation, while 30% are in the midst of a transition to this mobile mind shift. This revolution is taking place quickly across the globe: Forrester forecasts that 42% of the total population globally will own a smartphone by the end of 2015.
Forrester believes that, in 2015, the gap will increase between marketing leaders and eBusiness professionals who will re-engineer their business to deliver valuable mobile moments and the majority of executives who will continue to take a myopic approach by considering mobile just as another digital channel.
Mobile reached a tipping point in 2014 as it solidified its position as one of the most disruptive technologies for businesses in decades. Not since the advent of the Internet, has a technology forced businesses to rethink completely how they win, serve and retain customers. Mobile has completely shifted consumer expectations. Today, consumers expect to get anything they need immediately, in context. Forrester refers to this as the mobile mind shift.
Forrester believes that, in 2015, the gap will increase between leaders and laggards. Leaders will use mobile to transform both their customer experience and their business. They will anticipate the needs of their customers and engage them at exactly the right moment with the right content and services. Forrester refers to these moments as mobile moments. Doing so will require massive spending in the tens if not hundreds of millions of dollars to put the infrastructure, technology, processes and organization in place to engage consumers in their mobile moments.
Most companies will fall short. They have a myopic view of mobile. Why?
Treat mobile has a squeezed down version of a PC experience or a portion of their digital strategy. Why? That is how they are organized and goaled. As a result, they fail to optimize the use of mobile for their overall business. Second, they fail to serve the needs of customers.
For as long as there have been children and travel, frustrated parents have been subjected to repeatedly hearing a simple, “Are we there yet?” In their innocence, children seem to understand that all journeys should lead to a final destination; with those journeys never reaching their destination quick enough.
In 2015, Forrester believes CMOs will step forward and take responsibility for turning the enterprise toward the customer, evolving their role into the engine that fuels customer-centric company growth. It’s time for CMOs to cultivate the trust, respect, and collaboration across the entire C-suite and use that influence to ask for the right to not only hold but also turn the keys to the customer.
My colleagues, James L. McQuivey, Moira Dorsey, Laura Ramos, Sarah Sikowitz, Tracy Stokes, and I therefore studied the landscape and expect CMOs to seize this new opportunity to both shape their personal success and accelerate the growth of their organizations in 2015. In particular, we predict that:
Are you ready for social media in 2015? Today we published Predictions 2015: Social Media Grows Up. This report details our four key predictions for the coming year in social media — and lists the nine things every marketing leader should do to get the most from social media next year.
The reality is, social media isn’t changing at the pace it once did. Sure, social data breaches and increased government regulation will change the landscape next year — but don’t expect 2015 to be a year of social transfiguration. Instead, as the industry matures, you’ll have a chance to catch your breath and focus on a few really important social initiatives.
My favorite prediction from the report? That as social media matures, branded communities will make a comeback. It makes sense: Marketing leaders report they’re significantly less satisfied with Facebook and Twitter marketing than with branded forums. But nearly twice as many marketers run Twitter and Facebook accounts as host their own communities. It’s time for marketers to focus their efforts on the social tactics that actually work. Plus, brand-hosted forums can help you all the way across the customer life cycle:
In 2014, Forrester outlined a new approach to marketing that requires brands to harness customer context to deliver self-perpetuating cycles of real-time, two-way, insight-driven interactions. In 2015, we’ll see more marketers obsess over customers’ context. As more interaction data floods customer databases and marketing automation systems, customer-obsessed marketing leaders will strive to orchestrate brand experiences that drive unprecedented levels of engagement. For example, we predict that:
Digital marketing investments will drive brand experiences across the customer life cycle. By the end of 2015, spend on digital marketing will top $67 billion — growing to 27% of all ad spend. In fact, we believe this will surpass TV spend by 2016; there’s more to the story than ad spend. We believe marketers will branch out of expected digital media buys to stimulate more insight-driven interactions with customers throughout the entire customer life cycle. Supported by new streams of situational customer data and powered by the ability to precisely target audiences with programmatic media buying, marketers will deliver highly engaging brand experiences rather than just feed the top of the funnel.
Too many brands fail to leverage the potential of mobile because they act like destinations. Some of you may think being a destination is awesome. Who doesn’t like Paris or Bora Bora? But what does it mean to “act like a destination” in mobile? For most brands, their only strategy to engage their customers is on their own mobile web site or app.
Let’s step back a minute and talk about destinations.
Atlantic City was conceptualized as a destination in the 1800’s. Tourism peaked during Prohibition when drinking and gambling rules were not enforced. Consumers had limited options. That changed. Fast forward 50+ years. In 1976, Atlantic City legalized gambling which led to a partial comeback, but they’ve struggled since the early 1990’s because consumers have better options and prefer to spend their time elsewhere. People still go there – just fewer.
Developers have since tried to revitalize Atlantic City as a destination. In May 2012, the Revel Casino opened. Billions were spent to create a destination with shops, restaurants and gambling – everything a visitor could want. How many people visited last weekend? Zero. Revel – this casino - closed its doors in September 2014 with its assets liquidated for small change relative to the investment.
Do you measure the success of your app? And if so, how do you define success?
App success depends on both the type of app and the purpose of an app; in general, we can't measure success just by counting the number of downloads or looking at the time spent with the app. But for certain apps, such as communication, dating, games, movies, music, news/media, social networking, and sports, it's easier to define success: The more engaged a user is, the better.
To help marketing leaders and app providers evaluate and benchmark these apps as consumers embrace the mobile mind shift, Forrester has created the App Engagement Index. We use actual smartphone behavior collected from more than 3,000 US and UK smartphone owners who have agreed to supply their data — permitting precise usage analysis at a detailed level.* The Index analyzes every app used by more than 2% of the panelists and rates its user engagement and relative performance across four metrics:
The Index combines these metrics, scores each app from zero (not engaging at all) to 1,000 (the maximum possible engagement), and places it on a spectrum of four segments: addicting, engaging, enticing, and intriguing.
Blogged in collaboration with Rebecca McAdams, Research Associate, serving Customer Insights professionals.
Consumers are connected, constantly influenced by marketing messages, their friend’s social posts, blog posts, reviews, mobile messages, and Twitter posts. In fact, US Adults have an average of three connected devices. Consumers are leaving breadcrumbs of information behind, across multiple channels and devices. Marketers are jumping at the chance to connect with their customers through proactive marketing campaigns and even through non-marketing interactions. But which interactions actually drive impact? What interactions are responsible for sales conversions, and which interactions merely "assist" conversions? CI Pros and marketers are stumped; they must measure these complex interactions to help drive future marketing and media investments and to actually measure their marketing efforts.