In the world of online media everything is moving at the speed of light (at least if you're part of the business). This blog is a way for me to reflect over things I’ve pick up in research, when speaking to customer, partners or other people in the business. Hopefully the blog will start a conversation that will give me and other participants increased knowledge in the online marketing field. If you would like to know what I do for a living, visit www.impwell.com
Gillar verkligen när jag hittar riktiga nyttotjänster.
I går läste jag om samarbetet mellan Shazam, som jag tycker är en riktigt bra tjänst, och Spotify. Det här är en tjänst som i alla fall ger riktigt värde för mig. Jag vet inte hur många gånger jag hört en låt jag gillat på radio, men missat artisten. Med Shazam kan jag snabbt få reda på detta och med kopplingen till Spotify kan jag enkelt lägga upp låten på mitt konto. Riktigt bra!
I really like Yardsellr & what they are doing connecting the classified ads of private person buying & selling with the social media space. It is a natural development, though, since it is much easier to sell & buy stuff to/from people you have some kind of relation with.
Yardsellr distiguish themselves by not sending traffic to their own site, but give tools to be used on Facebook & Twitter. Eveything is done in the feed. This strategy really moves them ahead of their competition.
Will be quite interesting to see if Blocket will move in this direction + when we will see Swedish clones?
The buzz if yesterday was definitely the Facebook announcement to launch local deals as a part of their places platform. Using their mobile app to launch the service will surely be a first step in bridging the gap between online and offline commerce.
At first glance the success of local deals is not obvious. People use Facebook to socialize, make & read status updates & play games. What would incentivize people to use an app like local deals? Other initiatives announced by Facebook have failed, such as Facebook real time search so why should this Groupon clone succeed?
This initiative is different, though. With about 200 million mobile app users, Facebook surely have a critical mass of users to support their initiative. If Facebook users can be served deals in an app that they use frequently I believe they will use it. On top of that Facebook has most of the worlds major merchants as clients all ready, so the supply of deals will be no problem. Furthermore, they have the ability to couple geo targeting with the social graph and serve highly relevant local deals.
I vote for success and see tougher times ahead for players like Groupon & Foursquare which has not the global reach of Facebook . What do you think? Success or failure?
Possibly so! At the F8 Conference Facebook announced their plan for making the web more social, or as Mark Zuckerberg stated “..a web where the default is social”. The building blocks are the Open Graph, which replaces Facebook Connect, and social plug ins and “like” buttons everywhere. “Like” buttons are already implemented on quite a few sites (see example from Levis’s site below). These building blocks will have the possibility of making Facebook really powerful.
When you as consumer ”likes” a product or service, and are logged in on Facebook, the information will automatically be added to your profile. By spreading the “like” button to numerous of different sites and services, Facebook will accumulate invaluable information about customer preferences.
Facebook will make use of this information in their partner strategy, where they will share information with third party sites and services. As of yet Facebook have not disclosed who these partners are. To mitigate privacy concerns, Facebook will give you as a user options to opt out from the services where the profile information is used.
I think there will be a debate on privacy issues when the partner strategy is launched. However, it is all up to how the partner sites are making use of the information. If partners use the information to enhance the customer experience, e.g. by making it easier for people to get relevant information or be served with relevant content, the debate will die pretty quick.
There are undoubtedly some really interesting things about the concept that will help customers make purchasing decisions, and other kinds of decisions. Imagine you are going to eat out and you go to a site which displays all restaurants in Stockholm. Now you will have the possibility of being guided to nice places by your network of friends, right there on the site. There might even be pre-selected restaurants based on yours and your friend’s preferences. The same goes for shopping cloths, music, film etc. Instant socialization and instant personalization of every site on the Web is the goal.
A nice effect of this increasingly social web is also that businesses will be forced to deliver true value to be liked, which will be beneficial for everyone.
I listened to a speech by Ryan Merket on Facebook Connect yesterday. It was both fascinating and scary. There are obvious upsides for both users and marketers in using Facebook Connect. But, I keep wondering if the users fully understand what they are saying yes to. Sites using the API will have the possibility of pulling the full profile of the user. This is of course beneficial for the user when signing up for a new service, since they only need to choose a username and password (all other data are pulled from the Facebook account). Users will also have the possibility to be presented with more relevant information and services based on the behavior and social interaction of people in their network using the same service.
But, the scary part is how the information might be used. If the information is used in an improper way it might impact the way we socialize on the web and will be detrimental for all
From a pure marketing perspective, though, Facebook Connect has the potential of delivering what no other targeting technology has done so far. It remains to be seen if this will be the new black in behavioral targeting.
Yesterday I followed a conversation on The Brand Man on the drivers of business success. Micco posted an interview with Guy Kawasaki with the title Make Meaning to Your Company. Guy Kawasaki’s point was that you need a higher purpose and passion to be successful, just striving for money will not get you far. Successful companies make meaning and have strong visions about how to change the world as we see it.
I believe this is true and there are numerous examples of this. IKEA was founded on the vision “to create a better everyday life for the many people”, Apples purpose statement is "To make a contribution to the world by making tools for the mind that advance humankind". Both companies are fairly successful.
Thus, the main driver for successful entrepreneurs is certainly not the money, but the willingness to fundamentally change something in peoples’ lives. Money is just the byproduct of succeeding in this quest.
The second reflection I had when following this conversation was the focus on successful companies, businesses and entrepreneurs. I do not believe in successful companies or businesses, rather that success, apart from being driven by a strong visionary leadership, is driven by strategic moves. W. Chan Kim & Renée Mauborgne has done years of research on this when formulating their brilliant Blue Ocean Strategy framework.
Apple is a good example of this as well. In the advent of micro computers, Steven Jobs and Steve Wozniak realized that you needed to simplify the computers to make computing power accessible to people. The Apple I & II were born and the way we perceive computers completely changed. In the 90s Apple was on decline, partly due to lack of visionary leadership but mainly, in my opinion, due to lack of strategic moves. When Steven Jobs returned, so did visionary leadership and strategic moves. The first really important move was realizing how new technology could change the way we consume and share music – the iPod & iTunes, then the way we communicate - iPhone and recently the way we consume and share information - the iPad.
The evolvement of the internet give companies a unique possibility to spot opportunities for strategic moves through better insights into behavioral changes, application of new technology, how trends will affect the value brought to customers and impact the company business model etc. Companies with the ability to capture, process and draw conclusions from information & conversation in the online space will have better opportunities to capture new market space and be successful. It might be that it takes visionary leadership to make this happen, but the tools are at your disposal and the opportunity is there for every company to explore!
Recent studies from Forrester presented by eMarketer indicates that 59% of US advertisers will shift their media spending from traditional to online media channels. eMarketer and several other research firms estimates that the online media spend will increase by a low 5% to a high + 10% in 2010.
Not just search is predicted to grow, but also banner advertising and video (40% from a low base line).
The really interesting point in the eMarketer prediction for 2010, though, is that total media spend is going to decrease from a 2008 high of almost $ 200 billion. This is mainly driven by a shift from mass media marketing to more targeted marketing. Dollars will be spent on media that is measurable, reach the specific target audience and that creates a dialog with the consumers, i.e. "earned media".
The latter will shift spending from paid advertising to in-house resources that tap into the social channels and work with self marketing - blogs, videos etc.
Media consumption will continue to explode. This is naturally driven by the continued increase in user generated media channels such as blogs, social media sites, sharing sites etc. Content will be distributed in multiple channels and formats and will be more tailored to what the consumer have read, visited, shared or bought.
Marketers will look for technologies that will help them predict consumer intention. Different types of behavioral targeting technologies based on surf behavior, social interaction or other digital foot prints that will reveal possible prospects will be increasingly used.
Thus, 2010 seems to bring on some interesting challenges. Not only for the advertisers but also, even more so, for the traditional media agency community.