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Archive for March, 2011

Social Media: Not Saturated Yet

Written by admin on . Posted in Digital, Marketing

Social Media Saturation

Social Media Saturation

Last week, we published a perspective on social media reaching a saturation point, entitled appropriately, “Is social media reaching a saturation point?” It is wise to question when something starts to seem more like a flash in the pan than a lasting trend, but there is evidence to show that social media and social media marketing are here to stay.

In early 2010, Brian Solis wrote about the ROI on social media marketing, “The Maturation of Social Media ROI“, where he discussed how executives were jumping on the social media bandwagon, but were demanding more return on their social media investment. The urge to see some tangible benefit from any kind of marketing effort is natural, Solis argues, but it is the “return” we need to focus on, not just the investment. He describes how companies like Dell were expanding their use of social media in response to $3 million in sales generated from @Dell Outlet; they found that connecting with customers through Twitter lead to a direct result in sales.

“Is Social Media Reaching a Saturation Point” looks at the modest increase in the percentage of internet users expected to use social networks in two years. Yet there will always be figures showing some sort of small increase in users—as more young kids come of age and begin accessing computers, there will be an increase. The question that I think those eager beavers at SXSW Interactive were seeking an answer to is not how many people to reach online, but whom. And how? And what are the best practices for reaching them. Because of the new mini-industry in social media marketing, it’s easy to get lost in the shuffle. Nevertheless, I believe that as long as marketers find the best way to achieve their objectives through social media marketing—increased brand awareness, leads, boosts in sales—their efforts will not have been in vain.

Marketing Metrics: The good, the bad, and the irrelevant

Written by admin on . Posted in Marketing

The funnel can get fuzzy when you don’t know what you need to look at

The funnel can get fuzzy when you don’t know what you need to look at

It’s obvious but unavoidable. Metrics can present a “slippery slope” for marketers. Measurement is necessary to assess and gauge marketing efforts, of course, but often times, choosing to focus on the wrong ones can be worse than using none at all. The fundamental problem is that much of the time marketers can’t measure what they’re really interested in, so they end up using metrics that they can measure; regardless of how closely the metric is related to the desired business objective and how accurately it reflects what they want to know.

Of course, some marketing metrics directly reflect what you want to know. If you’re looking at something as clear-cut as number and size of sales on a site, then the ROI becomes very concrete. Other digital platform measurements aren’t quite as easy. For example, there aren’t very good metrics for social media. It’s difficult to say what the profit per Facebook fan is. ”Like” it or not.

Since there are literally hundreds of marketing metrics available to choose from, designing a marketing initiative, defining your objectives and then picking measurable metrics to support those goals becomes a vital first step. You also need to make sure you have enough metrics to understand what is really going on, but not so many that you’re overwhelmed by non-relevant information. One is probably too few. Ten is probably splitting hairs.

Often people will latch onto a single metric and not think through what that metric means. Sometimes clients are prone to this and  it can pose a challenge to reality. This makes it even more important to carefully choose what you measure with conviction. Your choices may evolve later based upon situational changes and needs, but you’ll likely not be wrong. Not many marketing metrics are completely wrong anyway, but many of them can be wrong in a particular context. Sometimes a metric is wrong because it not only doesn’t tell you what you want to know, it actually misleads you. This can lead to campaign failure and client loss. Something not fun to measure.

Sometimes a metric is just irrelevant. Either it doesn’t tell you anything useful or, worse, the entire marketing effort is directed at the wrong expectation. It is important to tell the difference. And to convince your client which metrics do actually matter. Remember: the client is always right…unless they are wrong!

Digital Moms in Mexico: Market Study

Written by admin on . Posted in Hispanic, Marketing, Mexico, Research

Virtual Mothers

Virtual Mothers

The most recent market study released by IAB México (Interactive Advertising Burearu), Televisa Interactive and consultant Milward Brown confirms, that each day, mothers virtual activities are increasing, especially with cell phones and social networks.

Those making up the “virtual mothers” is an increasingly attractive group for any company, as they have increased internet use. The study shows that digital use is mainly through cell phones, and social networks, Facebook and Twitter being the most used networks.

The US Hispanic Market: A key target to advertisers

Written by admin on . Posted in Digital, Hispanic, Marketing, Technology

Mobile Hispanics

Mobile Hispanics

Today I found an article on how valuable the Hispanic market is for advertisers, which amazed me. Even though my background is in mobile advertising, every time I read an article about US Hispanics and mobiles, I’m continually surprised. The number of US Hispanics owning a cellphone keeps increasing more and more every day. According to the article from Marketingcharts, about 71 percent of English-speaking Hispanics utilize mobile content.

Some 70.9% of English-speaking Hispanics consume mobile content in the United States, making them among the most active and engaged mobile-content consumers, reports M:Metrics, citing the market average of 47.9%.”

The article focuses on young US Hispanics who use their mobile devices for many different reasons—watching videos, playing video games, listening to music and many other things. The mobile advertising industry must target this huge market; the numbers will only increase, and I know we all will want a chunk of it. According to an article in Target Latino, US Hispanics will spend $257 billion in telecommunication services in the next five years. Now that we know where part of their money will be consumed, we just need to figure out the best way to reach them.

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