Charlene Li, one of the authors of Groundswell, pulled together a very thoughtful presentation on the future of social networks. She continues to be a visionary in the social networking space. I’ve been using LinkedIn for nearly 5 years, and Facebook for 2 – envisioning these applications and predictions coming true are not as far fetched as they may seem. What do you think?
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Thanks to Dave Knox, a brand manager at P&G, for spotting this video. This is a simple and clear example of how marketing of old is no longer effective, and how “atomized and parallel media consumption” have impacted how brands market today. Dave mentions this is a good way for a brand manager to illustrate the need for change to management. I’d add that it’s a way to also explain why the personalized connections through social media are so important. Worth the three minutes.
Alternate payment methods (APM), in eCommerce terms, are ways to complete a transaction without using the normal credit card authorization process. For the past couple of years Rosetta has completed a quick study of a hundred leading online retailers using the big players in this space. Paypal, BillMeLater, and Google Checkout are the ones we have measured mostly due to marketshare in the large online retailer category. New services and startups continue to crop up, as evidenced by the buzz related to Chris Brogan’s sponsored post around the new service eBillMe.
The major play for each of these payment methods is the additional uptick in conversion – the premise that providing alternate ways to pay will reduce people from abandoning their shopping carts and more broadly appeal to those worried about giving their credit card to a website. Our study shows that both Paypal and BillMeLater have gained retailer adoption in the last 18 months. Google Checkout appears to have maintained ground at the same relative group.
The list of retailers surveyed is the same list from our recent study on Facebook. While not scientific, it shows us some trends in the marketplace. The major points of the APM study this round are that the growth rate is continuing among retailers, and Google Checkout is stagnating. Two major questions have come up:
Google Checkout recently dropped their incentive program for AdWords customers, but retailers aren’t typically quick to respond. BillMeLater was recently acquired by eBay from Amazon, who also owns Paypal. I wonder if the ROI is really there, despite low cost to implement these programs.
What I am more interested in is hearing from you. Do any of the online sites you shop at regularly offer these methods? Do you use them, or would they influence your buying decision? Why or why not? Our study was picked by DM News and Storefrontbacktalk.com (thanks!) but I’d love to hear what people use and why.
Photo credit: nicmcphee via Flickr
Every once in awhile I stumble across a great example of interactive marketing to share. Today a friend shot me a link to a microsite from the consumer product brand Healthy Choice, that has a lot of the right ingredients for a successful campaign. The campaign looks like it was launched last fall but I think it will have a long shelf life. Here are some reasons why I like the campaign.
I’m curious what the cost was to produce the show, site and content, and what the overall ROI would be for a site like this versus an ad campaign in a magazine. No question I spent more time on this site than reading an ad and that Healthy Choice will have ample metrics to measure consumption of the content. Well done, Healthy Choice. Do you think this type of microsite works? What are some examples of others you have seen and liked?
Marketers have a lot of data. Online, they know where you live, what you clicked on, and what page layout (among other things) is more likely is going to drive you to make a purchase. They know what you searched for, what ads you saw and how long you spent on their sites. Signs are pointing to an elevated sophistication of using that data – get ready, because with the ability to combine your activities in social media with your online behavior, targeted, personalized approaches to marketing to you could be what’s next.
Exhibit A: CMO’s want to read the tea leaves
Mark Taylor, colleague at Rosetta, recently mentioned a study from the CMO Council that highlighted some key insight as to how CMOs feel they are deficient at understanding and leveraging customer data. Some key findings:
Marketers were asked about their top three areas of focus. Among the responses cited:
* 47% want to leverage existing resources to enhance customer communications.
* 41% would like to explore new customized communications technologies.
* 39% want to move marketing investments to Internet and mobile channels.
* 33% wish to improve behavioral targeting of advertising and online marketing campaigns.
* 32% want to adopt and use CRM and sales automation applications.
Exhibit B: Online activities reveal customer emotions and behaviors
I had a conversation earlier in the week with Evan Schuman, former retail technology editor for eWEEK.com and PCMagazine and author of the retail industry blog StoreFrontBackTalk.com. Evan recently posted a provacative article about how semantic information about a user’s activities could lead to more targeted marketing activities, and I’ve had it on my mind since.
Extensive analysis of a consumer’s Web interactions has been used for years to try and target pitches more effectively. But new research suggests that…every digital comment made by consumers anywhere—in a product comment, an IM, on a social network site, in E-mail and via, exchanges with a live chat tech support person, coupled with Web traffic analysis—can be mined for hints as to emotions and other thoughts.
What it could mean
Imagine what organizations who are savvy enough to tie their CRM data to semantic, social media content left as breadcrumbs out there. Evan rightly suggests that every consumer responds differently to emotion. When you’re sad, so you seek out comfort food or buy some new music? When you’re happy do you surprise your spouse at home with a gift? Could your social media activity be somehow tied, through emotion, prior history, or simply by subject, to your purchasing or brand buying behavior?
Some examples
Consider some possibilities. I’m sure we could come up with better ones together but here’s a stab at some.
Evan responds,
What consumers receive is nothing bizarre: A pitch from Amazon or Borders or Walmart for a particular kind of product. But what they won’t likely know is that the pitch was prompted by … a MySpace posting the software thought “sounded sad.”
Technologically? This is quite do-able. Psychologically sound? If the software is done properly, yes, these predictive packages can be frighteningly accurate. But here are the big two questions: What about privacy and morality?
Sure there are many concerns about privacy, morality, and transparency. Is it going above and beyond using this type of data to target customers, or just the next logical evolution? It sure makes me think a little more about what I share on searchable outlets, but I am not so sure connecting me with the right products at the right time would be a bad thing. What do you think?
Photo credit: fenchurch via flickr
The day-to-day choices you make influence whether you maintain vitality as you age or develop life-shortening illnesses and disabling conditions like heart disease, diabetes, high blood pressure, and stroke. You may understand exactly what you need to do to enjoy a healthier, happier life: carve out time to exercise, perhaps, or find a way to ratchet down stress. There’s just one hitch. You haven’t done it yet. Visit thehealthmania.com/ for more healthy tips.
Often, the biggest hurdle is inertia. It’s true that it isn’t easy to change ingrained habits like driving to nearby locations instead of walking, let’s say, or reaching for a donut instead of an apple. However, gradually working toward change improves your odds of success. Here are some strategies that can help you enact healthy change in your life, no matter what change (or changes) you’d like to make.
Shaping your personal plan starts with setting your first goal. Break down choices that feel overwhelming into tiny steps that can help you succeed.