8 Digital Trends that Impact Your Business

Transcription

1 8 Digital Trends that Impact Your Business

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3 The Future of Business is Digital The Future of Business is Digital Forrester Report The future of digital is changing

4 The Future of Business is Digital Today s US Online Population 189 million of Facebook users are mobile only 93% of marketers use social media for business By 2017 e com 74% will own smartphone 46% will own tablets 50% of retails sales will be influenced by digital/mobile 60% of all US retail sales will involve the web Forrester 2014

5 The Future of Business is Digital What level of impact will digital have on the following functions in the next 24 months? Forrester 2014

6 The Future of Business is Digital Assessing your organization s digital readiness, how much do you agree with the following statements? Forrester

7 What s changed?

8 The Future of Business is Digital

9 Yoga Pants Picture Build animation Loss of $, displace chip

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11 Lulu logo with build IMPACT Cost company $57 million Displaced CEO Chip Wilson

12 The Future of Business is Digital 1.0 The Brand

14 The Future of Business is Digital 2.0 Fans Detractors Competition Thought Leaders Social Influencers Peers.com

17 From Words to Visual TREND 1 From Words to Visual

18 60,000X From Words to Visual

19 Photo of Rose Bowl stadium

20 Photo of Berkley campus Go Bears! Go Bears!

21 Picture of Paul cycling

22 Picture of Silicone Valley

23 Picture of kids

24 Picture of Made in Oregon sign

25 Picture of Teddy

26 Modern. Marketing.

27 Digital Anthropology

28 Where did I grow up?

29 From Words to Visual 2X 12X

30 From Words to Visual Which of the following websites do you visit at least monthly? Forrester 2014

31 PR Newswire From Words to Visual

32 PR Newswire From Words to Visual

33 Social TREND 2 Social Media Grows Up Social Media Grows Up

34 Social Media Grows Up Which of the following ways do you typically discover or find out about new products, brands, or services?

35 Social Media Grows Up Which of the following ways do you typically research brands, products, or services you re considering buying or using?

36 Social Media Grows Up Which of the following ways do you keep in touch with the brands that you like or that you purchase or use regularly?

37 Social Media Grows Up People Who Engage With Brands In Social Media Are Better Customers More likely to purchase from the brands they engage with More likely to prefer those brands More likely to recommend the brands with which they engage The more someone interacts with a brand in social media, the higher their likely value to the brand

38 Social and Search TREND 3 Convergence of Search and Social

39 Social and Search Social for Search Facts Nearly half of consumers use a combination of search and social media to fuel their purchasing decisions, says a new study. (Inc Magazine) 40% who start with search then turn to social media 30% say they use social media to eliminate brands from contention 31% use social media during the purchase process to get other people s opinions (GroupM) 38% of consumers rely on user reviews to aid in their purchase decision (HubSpot) Websites with a Google+ business page yield a 15% rise in search rank (Open Forum) 45% of consumers have no specific brand or business in mind when they begin their search on their desktop or smart phone (GroupM)

40 Social and Search

41 Social and Search GOOGLE HUMMINGBIRD Focus on Painpoint Conversational search less about the keyword, more about the intention What s the closest place to buy the iphone 6to my home? Links search to previous end user search history and social interaction patterns GOOGLE PIGEON Focus on Local Visible within Google Maps search results and Google Web search results Present searchers with more relevant, quality, local search results More weight on traditional signals like keywords, page quality, domain authority

42 Mobile Dominates 4. Mobile Dominates TREND 4 Mobile Dominates

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44 Mobile Dominates 41% of SmartPhone users have made a purchase from their mobile phones and Mobile now exceeds PC use 75% of Americans bring their phones to the bathroom! Mobile now accounts for 12 percent of Americans media consumption time, triple its share in Mobile devices accounted for 55% of Internet usage in the United States in January.

45 Mobile Dominates Mobile apps are no longer just purchasing platforms for retailers. Apps today play a vital role in creating rich, personalized or in store customer experiences. We are beginning to see that effective mobile retail solutions boost business and strengthen a retailer s brand, while retailers with less effective mobile strategies are putting both their business and brands at risk. Amar Varma, GM at Pivotal Labs

46 TREND 5 Big Data + Personalization Personalization

47 EP2To 2002

48 Why Big Data Now? Big Data + Personalization Information is going to be our generation s next natural resource like steam was to the 19th century, That s because there are a number of technology shifts and their convergence is happening at once. IBM chairman and CEO Ginni Rometty

49 Why Big Data Now? Big Data + Personalization Why big data now? 90% of the data in the world today has been created in the last two years alone More people have a cell phone than have running water Major brands, like Kohl s and Facebook, are now implementing mass marketing personalized campaigns based on big data Forbes, 2014

50 Big Data + Personalization Facebook s new personalized ads Starting in the U.S. in the next few weeks, the popular social network will mine users' Internet history and app activity to determine which ads appear on their screens.

51 As you walk by the shoe department, Kohl s sends coupon via mobile device for shoes you looked at but didn't buy

52 Vera Bradley Big picture with stats 63% fewer Moving to personalized s resulted in: 101% increase in shopper CTR 275% increase in shopper conversion

54 Personalization The Importance of Personalization to Brands Success August 2014 Forrester 2014

55 Personalization The Importance of Personalization 46% of shoppers say they would purchase more from retailers if the shopping experience was personalized across all channels (store, website, catalog, mobile) 40% of consumers buy more from retailers who personalize across all channels 41% of consumers buy more from retailers who send them personalized s emarketer

56 TREND 6 The Rise of Millennials Mobile Dominates 4. Mobile Dominates

57 Keven Bacon on 80s Awareness

58 The Rise of Millennials Wall Street Journal, Statistica

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60 The Rise of Millennials What are Millennials consuming and how? 33% of under 30s got their news from social media 34% who sought news from TV 13% who turned to a printed newspaper 18 to 34 year olds spend 50% more time watching online video than TV Mashable 2013

61 The Rise of Millennials Millennials are influencing Baby Boomers 40% of all online adults start an activity on one device and finish it on another This number increases with the amount of devices owned: 54% of people who own two devices switch between them to complete tasks or activities 73% of people who have three devices do the same.

62 The Rise of Millennials Different Sensibilities Introducing the Share Economy Entrepreneurs say the share economy is part of a growing post recession movement to value experiences over possessions NYT 8/31/14

63 The Rise of Millennials The Share Economy It s very counterintuitive from the old individualistic American culture, where what people aspire to has been increasing amounts of privacy, gated communities, owning your own. It s a real twist on where values, sensibilities and culture have been. Juliet Schor, MacArthur Foundation Research

64 TREND 7 Gamification Gamification of Marketing

65 Gamification By 2015, game mechanics revenues will generate $1.6 billion in revenues and will account for 23% of all social media marketing budgets. M2 Research

66 Gamification The ALS Ice Bucket Challenge Phenomenon ALS Foundation announced donations due to the ice bucket challenge have topped $100 million in just the past month That s a 3,500% increase from the $2.8 million the foundation raised at the same time last year

67 Gamification Why Did It Work? 1. Easy to understand 2. It was fun and easy to do 3. Leveraged the power of video 4. Integrated charity/ Pay it Forward angle to inspire sharing 5. Integrated celebrity appeal where possible (even micro celebrity) 6. Timing was everything!

68 Gamification of Marketing A Local Success of Gamification: Leveraged gamification to drive support of good causes Pushed branded product through partners Able to generate ground swell with many instead of one

69 Advocacy is Goal #1 TREND 8 Advocacy is Goal #1

70 The power of telling two friends

71 84% of customers globally trust peer topeer brand and product recommendations, whereas only 14% trust brand recommendations (Nielson) Advocacy is Goal #1

72 Advocacy is Goal #1 REACH ENGAGEMENT CONVERSION ADVOCATE

73 Advocacy is Goal #1 Ingredients for Successful Advocacy Marketing A collection of customers who LOVE what your products and services have enabled them to accomplish. These are fans who will share their stories, without you even asking them to do so. Well defined and understood positioning and messaging that your fans believe and will echo in their communities Organizational willingness to accept the good with the bad as the leverage marketing they can not control Gartner 2014, Hank Jones

74 Fox taps Social Rewards loyalty program to identify avid fans

75 Advocacy is Goal #1 Ingredients for Successful Advocacy Marketing Hollywood studios and theater chains are willing to reward social media users to gain deeper access to what they say and do. They want to identify the most avid fans and get their help in attracting others to theaters an increasingly difficult task. Paresh Dave, LA Times LA Times, July 7, 2014

76 Advocacy is Goal #1 Lancôme has seen a 60% increase in monthly traffic from its new loyalty program Lancôme Elite Rewards Loyalty Program

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78 Siouxsie Jennett (503)