November 11th, 2013 by Forrest Frazier
Big data and market research together makes for amazing results. Thus, in recent studies show a very interesting fact; More and more people want greater protection of their personal data , but as soon as there is the chance of a discount, they are willing to waive the protection mechanisms for the better offer.
A recent study by Harris Interactive comes to the conclusion that 90 percent of U.S. Internet users have actively enhanced their protection of privacy on the net. Compared to last year were they were the percentage was far less for those ready to protect their online safety.
35 percent of respondents stated that they have already cut their co-operation or even the customer relationship to a company because of safety/privacy concerns.
That is one side of the coin . EMarketer is contrary to these results, stating that in October 2013 , 41 percent of consumers surveyed were willing to put far more personal information available online for better offers, products or services, which in turn is good for marketers in the long run.
So what do these contrasting statistics mean for you the consumer or marketer? How you use your private information online can be a determining factor in a repeat customer, or a potential customer lost. Abusing consumers privacy for profitable gains will lead your business in the wrong direction, however if the quality of your offer is valid, and the practice of protecting your customers privacy is a primary goal, then you could expect an increase in sales and heightened loyalty.
November 4th, 2013 by Forrest Frazier
Customer reviews, they drive our purchasing decisions everyday whether we recognize it or not. Sometimes going under the radar the effect that one single negative review can have on the purchasing decisions of a potential customer are very large. Understanding the impact that it can have on your products can help position you for a more marketable product. These statistics are meant to share the most important facts in what is driving customers to your products, or away from it.
1. 71% agree that consumer reviews make them feel more confident in purchasing the right product
2. 70% of consumers look at reviews before purchasing
3. 75% of reviews posted on review websites are positive.
4. Customer reviews create 74% increase in product conversion over time
5. A highly rated product will increase the likelihood of purchase by 55%
6. 82% of consumers considered user generated reviews extremely valuable or valuable
7. 84% say that they trust customer reviews more than reviews of a critic
8. 90% of unhappy clients will not do business with the same company again
9. A ratio of 1:3 of bad reviews is enough to convince 67% of shoppers not to purchase a product
10. 80% of consumers have changed their mind about purchases based on negative reviews
11. 95% of unhappy customers will return to your business if an issue is resolved quickly and efficiently
12. 13% of bad reviews on yelp lead to a 13% drop in sales
13. 52% of consumers say they would choose a local business over corporation for having a good positive reputation
14. Reviews increase loyalty by 18% and purchase satisfaction by 21%
15. 80% believe a positive impact would come from companies taking more time to read reviews and attempt to resolve the issues.
In conclusion, the importance of reviews is monumental in that they can hold a direct cause and effect in the purchasing behavior of consumers. Reviews also have a positive effect on SEO, as the more reviews your company or product has, the higher chances it will have showing up in higher ranges of searches. Customer reviews are the easiest and cheapest way to get your product recognized by the public as a form of advertisement. How you present the avenues for reviews to take place, and your response to reviews will have a positive or negative affect.
October 24th, 2013 by Forrest Frazier
only 24% of national brands are actively using online video to market to consumers.
89 million people in the United states alone are going to watch 1.2 bullion online videos today over all video platforms.
Video is the most shared brand content on Facebook.
Youtube is the #3 top site visited globally with over 1 billion unique visitors a month to the site, with over 4 billion hours watched.
50% of marketers will increase their video production budget in the next 6 months.
Animated promo videos increase conversion rates by 20%
Combining video with full page ads increase engagement by 22%
Video has a 41% higher click through rate than text, and a 30% higher conversion rate.
Consumers who view a product ad video online are 64% more likely to purchase than text ad, while those who view a product demo video are 85% more likely to follow through with a purchase.
Online video ads will increase from 1.94 billion a year from 2013, to 5.7 billion in 2014.
36% of online consumers trust video ads.
Video immediately boosts your SEO rating as your chances of getting listed on the first page of Google is increased by 53 times.
Youtube accounts for 28% of all Google searches.
An introductory email that is accompanied by a video receives a higher click-through-rate by 96%
59% of executives would rather watch video than read text.
65% of executives visit the marketer’s website after viewing a video.
76% of marketers plan to add video to their respective sites.
by 2016, 2/3rds of the worlds media data will be online video according to Cisco
80% of internet users recall watching a video ad on a website within 30 days, with 46% taking action within that span.
90% of information transmitted to the brain is visual which the brain will processes 60,000 times faster than text information.
Video production should be a key component to any business looking to bolster its presence in the online world, or for its next marketing campaign. Boosting SEO and having a higher click-through-rates, videos should be looked at as a high rate of ROI. Instead of a wall of text bombarding your customers in the about us section, or for a product review, instead incorporate visuals such as video to keep the viewer more engaged with the content they are viewing. Video is not only here to stay, but video will continue to lead the way into the future.
October 18th, 2013 by Forrest Frazier
We all know that the marketing landscape has changed, but at what pace have they changed and how does that affect your market strategy going forward. Here are some important facts about the digital age, and the importance of timing, paid posts, and demographics.
- Adults are spending more time on their computer, phone and tablets than any other device. This amount has increased from 3.11 hours a day in 2010 to 5.16 hours a day in 2013. The largest jump being from 2011 to 2012 a .84 hours a day. The rise of applications on the mobile market has made connecting using devices faster and more easily accessible.
- While TV has seen no significant changes in time per day from 4.24 in 2010 to 4.31 hours a day, print suffered the largest decline from .5 hours a day in 2010 to .32 hours a day. Television has remained a staple in the media industry largely in part due to successful long running TV Series, talk and game shows therfor advertisement through TV is still a very viable option.
- 34% of adults own a tablet in 2013 compared to 3% in 2010. Not surprisingly the use of tablets has skyrocketd from .01 hours a day in 2010, to 1.03 hours a day. As the tablet market has seen a major increase in the product technology being offered as well as more competing brands, now is the best time to invest in a tablet.
- 80% of twitter users access twitter through mobile devices. Being only 140 letters are required, Twitter is best used for spontaneous post, quick promotions, and consuming news stories on the go
- The largest amount of Twitter retweets come most often during 5pm at 6% with click through rates being highest on Wednesday, and on weekends. 5 pm being a standard time of the end of a work day, this is also the most engaging time of twitter, outside of a major event taking place.
- For a 24 hour promoted trend on twitter, it costs 200,000$ garnering +4% in engagement depending on the size of the companies follower presence. For a company looking to strongly push a new product, or offers, Promoted tweets gives you instant access to the vast majority of twitter timelines.
- The best times to post onto Facebook for the most shares is at 12 noon, and 7pm. With facebook having a strong mobile and computer user base, lunch time, and returning home from work garner the most engagement on facebook.
- Since the shift to in news feed ad posting on facebook, businesses have reported a 375 CTR from Q3 2012 – Q3 2013 and a healthy 152 ROI. No longer being relegated to the side of the screen, being able to position your ad in the middle of a timeline feed gives you primary access to your core demographics you wish to reach.
- 50% of 18-24 year olds check facebook when first waking up. As the young generation has invested the longest time into facebook, checking posts, and news first time in the morning is a common practice.
- Social networks such as Facebook, Twitter, Google+ account for 20% of time spent on the computer online. With the majority of our friends, connections, and news outlets being on these social mediums, these sites often are the first pages visited when logging on to the internet.
October 14th, 2013 by Forrest Frazier
Every social network has its own identity, which is mainly characterized by its users. Thus, women in particular are active on Pinterest, and Instagram. Tumblr is used most by teenagers. Thanks to the possibility of analysis of demographic data, we can very well determine which target groups on which platforms are most active and what income they have. In a new report from BI Intelligence, demographic data (U.S. focus) of the largest social networks were published.
1 Facebook: The age group of 45 – to 54-year-old has been growing since the end of 2012 by 45%, 73% of users have an income of about U.S. $ 75,000
2 Instagram: 68% percent of Instagram users are women
3 Twitter has a surprisingly young user base, because 27% of 18 – to 29-year-olds in the U.S. use Twitter, compared to 16% of the age group of the thirties and forties
4 LinkedIn has a small surplus of male users
5 Google+ is even more male-oriented, with a share of 70% men
6 Pinterest is dominated by tablet users and 84% of users on Pinterest are women
October 9th, 2013 by Forrest Frazier
Statistics on the growth rates and numbers of users of the largest social networks, you should know as a Social Media Marketer. Taking a closer look, the following facts emerge:
1 Social Networks are ripe: Target groups of 45 + are the fastest growing users of segments
2 Mobile Internet usage is almost at 1 billion users globally
3 Twitter is growing fastest among all networks with 44%
4 Youtube reaches more adults in the U.S. aged 18-34 than any other broadcaster or cable-TV channel
5 Google+ sets to 33% and has almost 400 million active users per month
6 LinkedIn wins 2 new users every second and it is over 200 million
With these fresh statistics, it is important to maintain a presence on any of the social mediums. Whichever social network attracts your brands customers attention most, should become your main outlet.
September 27th, 2013 by Forrest Frazier
Social Media has dominated the landscape of our culture over the past couple of years taking off at a considerable pace. In two years alone, 818.4 million people have gained internet access via mobile devices, up 64% from 2011, and leading that way is Facebook accounting for 13% of worldwide mobile ad revenue. With numbers staggeringly high and showing no signs of drop off many companies are still struggling to enter the social marketing realm and maintaining relevance. In years and decades past marketing entailed large billboard signs, radio advertisement and clever TV commercials. Now, the #2 web search engine Youtube reaches more adults between the ages 18-34 than any cable network combined.
With 93% of company brands having an online presence, it is how these brands market themselves that sets themselves apart, and determine the outreach and relative success of their products. B2C remains the forefront of the social market field with interaction guiding potential customers to ultimately decide on committing to a product or not. 70% of B2C marketers have acquired a new customer through Facebook, and 50% through Twitter respectively. 50% of Facebook users expect a reply from brand pages they like within 24 hours, while a higher 80% of twitter users expect a reply within an hour of their tweet to the brand. Factoring in Instagram which 17% of teens say is the most important social medium, Google+ with a 33% increase in user base growth in the past year, and 43% of businesses connecting with customers on Linkedin; for a new company, or already established, looking to increase and monitor its social presence to target its customer base can seem like a daunting task. Social media has become a numbers game, a new field for customer service, and relations. Creating a social strategy is imperative for all businesses looking to stay afloat in the new dominating digital age.
Online monitoring services has become a staple in today’s growing online market. Being able to take all of your businesses online data, and turn it into a strategic tool for your marketing strategy gives you the edge over your competitors, allowing you to hit your key target demographic. The services that can be offered through ethority include:
Business reputation management
Social media monitoring dashboard
Business trend marketing
Marketing workshops with employees
Brand insight Analysis
Digital brand predictions
and many more.
With shopping online being the dominant medium for consumer purchases today, buyers are looking to companies that offer a strong online presence as an avenue for advertisements, discounts, and customer reviews. Not taking your online presence, or that of your competitors seriously can have a crippling affect on your long term goals of brand awareness and generated profit. If expanding your company to the next level is your goal, then enlisting the expertise of a media monitoring service is going to give you the best option for success in the future. With ethority we are able to give you the marketing edge, to turn your data into profit.
September 18th, 2013 by Forrest Frazier
Once again a successful trade show event, the Congress location should certainly be optimized better meet the growing influx of visitors interesting in the digital future to be. Thanks for the dmexco creators and organizers, we at ethority had an amazing time. Leave a comment about your experiences at the event, and tell us what excited you the most.
Until next year!
September 17th, 2013 by Forrest Frazier
It is the event of the year for the European digital scene – Media // Marketing // Analytics // Technology – and how the industry itself, the dmexco is growing rapidly.
From the website of the dmexco: Around 720 exhibitors from all over the world for the first time three halls, two days Conference Programme at a top international level, extended opening times on the second day and over 24,000 visitors expected … with a clear focus on marketing, media and technology. dmexco in the digital age is for all thinkers and opinion leaders from brands, advertisers and marketers as well as for all agency segments and media houses the No. 1 global platform – leading the global digital industry.
First of all, very impressive and admittedly, I’m a little anxious to see if can make up new trends! Let us surprise you as we look forward to an annual reunion of the digital avant-garde. Some exciting sound bites from market competitors and colleagues are to be read in advance, with me the quote from Nigel Morris (CEO of Aegis Media Americas & EMEA) like best (excerpt): … Making our global strategy happen and valuing our clients’ business or saying “Turning visions into reality by reinventing the ways brands are built by”!
The motto of the dmexco “Turning visions into reality” is forward-looking and reminds me somehow of ethority with our motto: “Turning Social Media Into Profits”
Market trends are therefore increasingly becoming a reality: Has Social Media’s peak already been achueved? Will “Mobile” replace everything in the coming future? What’s next for our industry?
September 16th, 2013 by Forrest Frazier
Social media drives sales! It is clear to all of us, but the extent to which the commitment has paid off, is not exactly fixed. Some facts (U.S. focus) has prepared MarketMeSuite in a nice graphic. The most exciting facts we have listed here:
1. 70% of adult social media users shop online
2. 86% of U.S. online retailers have a Facebook Page
3. 75% of Facebook buyers have been asked by friends for advice when making purchasing decisions
4. 81% of buyers were in their purchasing decision through contributions of their friends on social networks
5. 30% of Social Shoppers more likely to respond to offers if they are from friends “reposted”
6. Product reviews from customers enjoy a high level of trust – 12 times higher than product manufacturer information
7. 40% of social media users have bought a product after it is liked on Facebook, tweeted on Twitter and shared on Pinterest
8. 22% of Twitter users have purchased a product, according to a tweet, retweet or after it has been favorited on Twitter
9. 33% of Facebook users have already made a purchase after something has been discussed on Facebook (sharing, Liking, Commenting)
10. Pinterest is a social network, which mainly induces spontaneous purchases (virtual window shopping)
11. 50% of social media-driven buying decisions happen within a week after the Shared, Liked, or favorited post
12. 78% of users indicate that corporate contributions to social networks influence their buying decision
13. 79% of users like a company’s Facebook Page, because they expect Incentives and Discounts
14. 58% of Facebook fans of a brand offers exclusive deals, events and promotions
15. 50% of Facebook users and 80% of Twitter users expect a response to their customer service request within one day or less
Conclusion: The best conditions for the social media engagement with the German consumer, is a purchase of something different due to their behavior and expectation of the social media engagement of a brand from the U.S. / UK / DE company. All Social Network Users (ie. fans of a brand) respond better with preferential treatment, exclusive content, events and promotions that leverage more value-based services / apps to the preferred brand or specific discounts for the focus of their online shopping needs.