How Are You Using Social Marketing Management Tools?

Melissa Parrish

Back in April I published a report called Take Control of Your Social Marketing, which looks at the emerging market of social marketing management tools.  In it, I identified three groups of these tools: the social publishing platforms, the social promotion builders, and the platforms that focus on both. 

In the two brief months since that report came out, the volume of questions I get about the topic has skyrocketed.  I can’t say this is surprising, as our own research is showing that many marketers are reaching a level of social marketing maturity at which tools like these can greatly increase the efficiency and success of their programs. There’s also been a lot of press coverage of the moves, changes, and announcements coming out of the vendors in this space, which has undoubtedly raised the profiles of these companies with marketers. 

  • In January, Vitrue, a company that falls into the “concentrating on both” category and which wasn’t able to participate in the original report, announced the closing of a $17 million series C financing round.
  • In February, Syncapse Corp.  made its own financing announcement -- an investment commitment of $25 million.
  • In March, SocialWare announced a partnership with LinkedIn that brings its regulatory compliance expertise and tools to the professionals’ social network.
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Join Forrester’s Tweet Jam About The Social Media Ecosystem: June 7th (Today!) At 2 pm Eastern

Melissa Parrish

It’s Tuesday -- and that means it’s time for another installment of #IMChat, a weekly tweet jam hosted by the interactive marketing team at Forrester. For today’s tweet jam, we’ve invited Shawn Shahani (@shawnshahani) from iCrossing to talk with us about challenges and possible solutions for companies with large and complex social presences.

Here are some of the questions we'll be discussing:

1)     In which social networks does your company currently maintain presences?
2)     How are you using these social media properties differently?
3)     Do you have multiple presences within a social network?
4)     How do you separate multiple presences? Geography, brands, job function?
5)     Who manages different social media presences and properties?

To participate, just follow the #IMChat hashtag at 2:00 p.m. If you’d like to learn more about the rules of engagement, visit this community discussion on The Forrester Community For Interactive Marketing Professionals. To read some past archives, visit the documents section of the same community.

Looking forward to hearing from you at 2 p.m.!

Marketers Should Cut Ad Budgets To Thrive In The Age Of The Customer

Shar VanBoskirk

At least once a week I get a client inquiry wondering what is "the next big thing in interactive marketing," seeking to identify what will out-tweet Twitter or out Goog Google.  Well, in his new report, Competitive Strategy In The Age Of The Customer, my colleague Josh Bernoff articulates what is next for all businesses: A disruptive shift, where the power of customers means that firms must focus on the customer now more than any other strategic imperative.  In fact, the only source of competitive advantage is the one that can survive technology-fueled disruption — an obsession with understanding, delighting, connecting with, and serving customers. In this age, companies that thrive, like Best Buy, IBM, and Amazon, are those that tilt their budgets toward customer knowledge and relationships.

See Josh's post Welcome To The Age Of The Customer: Invest Accordingly for detail on how the Age of the Customer disrupts established competitive strategy.

The zinger in this report for interactive marketers is to: Prioritize word of mouth over mouthing off. Cut your ad budget by at least 10%, and spend the money on connections that have a multiplier effect like social, devices, and content. Ads are far more effective when customers are primed to believe them.

This means that interactive marketing of the future is really focused on interactivity -- not just on pushing out marketing messages through digital channels.  Three ways to get started creating more interactive marketing relationships:

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Mobile Is Bridging The Digital And Physical Worlds: It Is Time To Invent New Product And Services

Thomas Husson

Google’s product strategists just announced the launch of Google Wallet — an NFC-based mobile payment solution. As my colleague Charlie Golvin pointed out, this is another early salvo in what will be a long and hard-fought battle to change consumers’ payment behavior and, as a potential result, the makeup of the payments landscape.

We have covered this issue in more detail in a new Forrester report “Google Wallet Is Not About Mobile Payments.” Clients can access the report here.

Given its core search business and ad-based revenue model, why would the company make that investment? Because Google’s product strategists’ focus is not on the payment itself; it’s on all of the other elements that comprise a commerce experience and the data that characterizes those elements.

Indeed, appending real-world purchase information to its treasure trove of online behavioral data will vastly increase the value of customers’ profiles and increase the rates Google can charge its advertisers. It will be a way for Google to increase its local presence. NFC is too often equated simply with payments, but Google understands that NFC tags have broad application (working like Quick Response [QR] and other 2D barcodes do today). Google can help retailers use NFC tags for in-store promotions and check-ins, augmenting the understanding of customer behavior for ad targeting.

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Join Forrester's Tweet Jam About YOU: May 24th (Today!) At 2pm US Eastern

Melissa Parrish

As you may have seen, for the past two weeks we’ve run a tweet jam called #IMChat. Our first two topics, CORE and social influence, were well received but really about what Forrester folks think is interesting. So it’s time to turn the social media table around. What are you interested in? What do you want to talk about with your peers?

To participate, just follow the #IMChat hashtag at 2:00 p.m. If you’d like to learn more about the rules of engagement, visit this community discussion on The Forrester Community For Interactive Marketing Professionals. To read some past archives, visit the documents section of the same community.

Here are some of the questions we'll be discussing during today’s tweet jam:

1.       What digital marketing initiatives are most important to your success within your organization?

2.      What digital marketing initiative causes you the most headaches? Why?

3.      What resources do you currently use to find answers to your digital marketing questions?

4.      How do you utilize digital marketing peers in your day-to-day decision making? Are they external or internal resources?

5.       How do you utilize third-party vendors and agencies in your digital marketing programs?

CORE Lessons From Best Buy, ING And IBM

Shar VanBoskirk

Last week I joined Matt Smith, VP of Marketing Services from Best Buy, Kim Verhaaf, director of Customer Intelligence at ING, and Matt Preschern, VP of Demand Programs for IBM, for a keynote panel: "Marketing Innovation in Action: How Being Adaptive Can Help You Innovate," at Unica's Marketing Innovation Summit.  To structure the panel, I introduced Forrester's CORE framework. If you're not yet familiar with CORE, its our mission that interactive marketers should adopt to help their firms adapt to the next digital decade. See a summary of the topic here or our research on The Future Of Interactive Marketing for a deep dive. 

Smith, Verhaaf and Preschern talked about the efforts they have underway to help their firms customize marketing experiences, optimize decisions and processes, respond to changing market conditions and empower employees and customers to advocate on your behalf. They raised some great points for interactive marketers to consider as they undertake CORE:

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Join Forrester's Tweet Jam On CORE: May 10th At 2pm US Eastern

Melissa Parrish

Recently you’ve heard and seen a lot about a new concept — CORE — where we at Forrester think interactive marketing is heading. CORE is a four part concept that states that to compete in the digital future marketers must: 1) customize marketing experiences; 2) optimize decisions and processes; 3) respond to changing marketing conditions; and 4) empower staff and customers to advocate for you.

If you're interested in hearing about how you and your peers can move from one phase of CORE to the next, join me (@melissarparrish) and other interactive marketers on Twitter next Tuesday, May 10, at 2 p.m. US Eastern Time.  To participate, just follow the hashtag #IMChat.  Joining me will be Forrester analysts Shar Vanboskirk, Sean Corcoran (@SeanCor), and Elizabeth Shaw (@shaw_smith2) — and interactive marketers from FedEx who will tell us how they've implemented CORE.

Here are some of the questions we'll be discussing during next week’s TweetJam:

  1. After taking the CORE diagnostic test (included below), what surprised you?
  2. What one aspect of CORE is most urgent for you to prioritize?
  3. How do you think your industry or company type (B2B versus B2C) impacts your prioritization?
  4. How can you go about implementing CORE? How long will it take? Will you create an action plan first or dive right in?
  5. What does this mean for your current staffing? Will you need to find more talent or a new partner?
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Why The “Web Versus Application” Debate Is Irrelevant

Thomas Husson

Rarely a mobile conference goes by without this debate popping up: Should you build a mobile website or an application? I don’t think it really matters; in fact, I’d say it is irrelevant. This is just one of many topics where technology leads marketing by the nose— as is often the case in the mobile industry! Product strategists often forget to ask themselves the right questions: which product and services, for which audiences, at what cost, and when?

Consumer product strategists designing product experiences for mobile phones and smartphones must decide on their development priorities across the mobile Web and apps. While some believe this is a fundamental “either/or” choice, current consumer behavior suggests that consumers are using both. More than half of European (and 60% of US) consumers who download apps at least monthly also access the Internet via their mobile phones at least daily. In short, heavy app users are also heavy mobile Web users. The more frequently consumers access the Internet via their mobile phones, the more likely they are to download apps at least monthly. More than 10 billion apps have been downloaded cumulatively since the launch of the Apple App Store — the majority of them via iPhones. But this doesn’t stop iPhone owners from being the most frequent mobile Internet users: 72% of European iPhone owners (and 63% of US iPhone owners) access the mobile Internet on a daily basis.

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What Email Marketers Can Do To Protect Themselves From Email Fraud

Shar VanBoskirk

Epsilon's Symposium addressed email fraud head on, since its data breach accessed email data. Quinn Jalli, Epsilon's VP of Deliverability and ISP Relations, recommends that managing email fraud is not something to leave just to your email service provider. The wakeup call from this data breach: Brands must partner with email vendors and ISPs to protect their email send addresses, email brand assets, and in educating recipients about data usage and email fraud.  Specifically:

  • Show ISPs your legitimate emails.  Historically, marketers and ISPs haven't had much of a relationship because they were working toward different goals. Marketers want to get their emails into user inboxes, while ISPs want to manage email data volumes by blocking as many messages as possible. Well, phished emails — copies of your real thing — can be so good that neither consumers nor ISPs can tell real from fraud.  Preempt this by showing ISPs the identifying characteristics of the emails that you create. And of course any examples you have of phished messages if you have suffered this. Your email service provider can facilitate this ISP connection.
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Epsilon's Data Breach Raises Awareness Of Cyber Crime

Shar VanBoskirk

By now, you've all heard about Epsilon's April 1 data breach — an unauthorized party accessed a subset of Epsilon's email clients' data. My colleague Dave Frankland outlines the circumstances of the incident and its implications on Customer Intelligence and data security in his blog post immediately following the incident.

I attended Epsilon's Customer Symposium in Naples, Fla., last week, and I wanted to pipe in with some commentary based on what was addressed directly by Epsilon at the event.

Marketers: The way I would look at this is "if a data breach can happen to Epsilon — a firm which specializes in data and data management — it can definitely happen to me." We learned from Bryan Sartin, director of investigative services, Verizon Business Security Solutions, and Mick Walsh, supervisor, Miami Electronic Crime Task Force, US Secret Service, that electronic crime is a huge and growing business, due in part to the ease of access to consumer information online and the ease of access to the data black market through online search engines. Three-quarters of cases of electronic crimes executed through malware come from data disclosed through Facebook.

Note that most cyber crimes:

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