2. DOES TRADITIONAL ADVERTISING
WORK IN TODAY’S ECONOMY?
In general terms People’s consumption of
information has shifted from print to digital
media, Outdoor does have an effect in terms
of brand awareness but it is unproven in
terms of direct drive to purchase.
In most cases, traditional advertising doesn’t
work like it used to. There’s just too much
of it now and people block it out, or literally
fast-forward through it, billboards lack effect
due to the visual clutter on our high streets
and the pace at which society moves, the
seconds, many brands that continue to use
the medium are having work so much harder
to attract the attention of the Public, some
even going as far as actually placing physical
cars on billboards in an effort to stand out.
So in effect traditional billboard and outdoor
advertising in its current state is grossly
inefficient. With that said, new innovation
in this space reveals how effective this ad
medium can be once injected with some
digital interaction or moving image, the
main issue with this is cost, budgets for this
medium are tighter than ever so the spend
of £100,000 might get you a split second
of brand awareness but it will have no long
lasting effect. NO!
3. SO WHAT CAN YOU DO TO GET PEOPLE TO
LOOK AT YOUR BUSINESS OVER OTHERS?
We believe that to really reach today’s
consumers, companies and brands will need
to build relationships with them rather than
simply grabbing their attention or utilising
disruptions as an advertising tool. In other
words, marketers should be progressive
rather than aggressive, marketers and
advertisers should be looking to a more
digital approach and an approach that
integrates into multi platforms…
“If you do not have a multi platform sales
strategy, then you have NO sales strategy”
4. IS THERE A BETTER WAY IN, IN THIS
MULTI-PLATFORM SOCIAL SOCIETY?
Current research predicts that UK retail sales directly
via social media are forecast to grow to £290m by
2014 from £210m (a rise of 44%) as more and more
brands target consumers with personalised offers
and deals through social networks.
However, we believe that the real value from social
media will come from the way it is used to influence
and inspire purchases, with £3bn of retail sales
predicted to be influenced by social media by 2014.
Nearly half of social media users are already using
social platforms while thinking about making a
purchase, and a similar number of users are actively
deciding what to buy based on what they have
seen on social media platforms, including reviews
and recommendations.
5. DOES SOCIAL MEDIA REALLY INCREASE SALES?
Lets look at some of the most recent stats
27%of total UK Internet
time is spent on social
networking sites.
15%
of total UK. mobile
Internet time is spent
on social networking
sites.
21%
of marketers say that
social media has become
more important to their
company over the
past six months
85%
of fans of brands on
Facebook recommend
brands to others,
compared to 60% of
average users.
74%
of marketers say
Facebook is important
to their lead generation
strategies.
Social media
produces almost
double the marketing
leads of trade shows,
telemarketing, direct
mail, or PPC
(Pay Per Click).
Companies that
generate more than
1,000 Facebook Likes
also receive nearly
1,400 website visits
a day.
On Facebook,
brand posts get
half of their reach
within 30 minutes
of being posted.
Social media lead
conversion rates are
13% higher
than the average lead
conversion rate.
52%
of all marketers have
found a customer via
Facebook in 2013.
6. 36%
of all marketers have
found a customer via
Twitter in 2013.
43%
of all marketers have
found a customer via
LinkedIn in 2013.
43%of consumers who
complain about
products on Facebook
or Twitter expect a
response within
1 hour. Some of your
customers with over
1,000 Twitter followers
generate more than 800
new website visitors a
month.
25% of 23%
of marketers are
investing in blogging
and social media this
year, a 9% increase
from 2012.
DOES SOCIAL MEDIA REALLY INCREASE SALES?
Lets look at some of the most recent stats
Women are more likely
than men to regularly
check out a brand’s social
page (48% vs. 43%).
7. THIS THE BIG ONE…
APPROXIMATELY 46% OF ONLINE USERS COUNT ON
SOCIAL MEDIA WHEN MAKING A PURCHASE DECISION.
8. RESTORE COMMUNITY
MARKETING.
Used properly, social media is accelerating
a trend in which buyers can increasingly
approximate the experience of buying
in their local, physical communities. For
instance, when you contemplate a major
purchase, such as a new car, a flat screen
TV, or a good surgeon, you’re not likely
to go looking for a salesperson to talk to,
or to read through a bunch of corporate
website content. Instead, you’ll probably ask
neighbors or friends — your peer network —
what or whom they’re using.
Companies should position their social media
efforts to replicate as much as possible this
community-oriented buying experience. In
turn, social media firms, such as Facebook,
should become expert at enabling this.
They can do this by expanding the
buyer’s network of peers who can provide
trustworthy information and advice based
on their own experience with the product
or service.
FIND YOUR CUSTOMER
INFLUENCERS.
Many firms spend lots of resources pursuing
outside influencers who’ve gained following
on the Web and through social media.
A much better approach is to find and
cultivate customer influencers and give them
something great to talk about. This requires
a new concept of customer value that goes
way beyond customer lifetime value (CLV),
which is based only on purchases. There
are many other measures of a customer’s
potential value, beyond the money they
pay you.
HELP THEM BUILD
SOCIAL CAPITAL.
Practitioners of this new, community-
oriented marketing are also rethinking
their customer value proposition for
such MVP (or “Customer Champion” or
“Rockstar”) customer advocates and
influencers. Traditional marketing often
tries to encourage customer advocacy with
cash rewards, discounts or other untoward
inducements. The new marketing helps its
advocates and influencers create social
capital: it helps them build their affiliation
networks, increase their reputation and
gives them access to new knowledge — all
of which your customer influencers crave.
HOW SHOULD BRANDS REPLACE THE
TRADITIONAL MARKETING MODEL?
