Strategic Use of Social Media 2011!

Bazaarvoice, the market and technology leader in transforming customer conversations into long-term business value, released the second-annual Bazaarvoice Social Marketing Survey conducted with The CMO Club. The new study charts the progress of CMOs against their 2010 social media goals and benchmarks projected social investments, challenges, and expectations for 2011. The survey shows that social media had become an essential component of executive marketing strategies by the end of 2010, with 90% of CMOs participating in three or more social media activities. CMOs still focus on measurability and ROI but are recognizing there’s even more business impact to uncover. Nearly all (96%) are beginning to look beyond sales goals and web metrics to focus on how social media can deliver strong insights that fuel improvements across the business. This is consistent with Forrester Research’s recent finding that more than 45% of all companies now use social media assets for product development in addition to customer engagement (83%), and indicates a sea change in the strategic value that CMOs place on social today.

Key Findings:

The 2011 Survey points to a big shift in the power of social media and user-generated content, as brands begin to organize these voices into strong insights that serve as the launch pad for innovation and business change. In 2011, 93% of CMOs plan on using some form of user-generated content to inform product and service decisions. Top forms of user-generated content used in 2010 include customer stories (59%), product suggestions or ideas (54%), polling (49%), and customer reviews (47%).

CMOs were optimistic about tracking ROI for social in 2010 -- 81% of those who participated in the 2010 Survey said they planned to track social media to revenues in 2010. However, standard ROI metrics proved difficult to measure for many social efforts; only 40% of CMOs surveyed in 2011 successfully tracked ROI on their social initiatives. Still, measurability remains a top executive priority, with sales conversion and revenue attribution standing out as the #1 and #2 growth opportunities in social measurement.

The 2011 Survey indicates that many CMOs still use social media tools without clear insight into the ROI that tool is delivering. More than half of CMOS still don’t know or don’t see ROI across many social media tools, in particular Facebook, LinkedIn, and Twitter. Bright spots include product ratings and reviews (59% see average or significant ROI); company / brand communities (56%); and company or brand blogs (48%).

Bazaarvoice

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Website and Email Critical B2B Investments!

In a recent survey of business-to-business (B2B) marketers, traditional online tactics remain key to marketing success.

Just over half of B2B marketers surveyed told BtoB Magazine their budgets would go up this year, mostly by less than 15%. With a primary marketing goal of customer acquisition (69%), the greatest number of respondents expected spending increases to come from online (78%). By contrast, 44% said they would be spending more on events and 36% on direct mail.

Online, B2B marketers were most likely to report planned increases in marketing spending on their websites and email programs, followed by social media. These results differed in priority from those of a survey of general US marketers by RSW/US.

Among that group, 65% planned to spend more on social media, followed by 47% on email. RSW/US did not report on increases in website spending.



More than two-thirds of B2B marketers already used social media marketing as of December 2010, where the main focus of marketing efforts was brand building. Despite customer acquisition being B2B’s top goal for the year, less than half of respondents were using social media for lead generation.



In 2010, social media, websites and email each received a median of 10% of B2Bs’ online marketing budgets. Spending levels were higher on display and video advertising.

 Article

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Facebook Drives US Social Network Ad Spending Past $3 Billion in 2011!

Social network advertising to account for 10.8% of online market

US marketers will spend $3.08 billion to advertise on social networking sites this year, eMarketer predicts. Spending will be up 55% over the $1.99 billion advertisers devoted to social networks in 2010 and will rise by a further 27.7% next year to reach nearly $4 billion.

This year’s dramatic growth in spending will bring social media ad dollars to 10.8% of the total spent online in the US. Worldwide, where social network ad spending will rise 71.6% to $5.97 billion, that proportion will be somewhat lower, at 8.7%.



The 2011 forecast for US spending is $1 billion higher than eMarketer’s last estimate of US social network ad spending, made in August 2010. The primary driver of the change in projected spending is greater ad spending on Facebook, by far the biggest player in the space.

Facebook Drives US Social Network Ad Spending Past $3 Billion in 2011

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Resources Are Now a Big Issue for Social Media Marketers!

Lack of sufficient time and resources worse than lack of strategy or objectives

Social media was once seen by some marketers as a quick and easy way to reach consumers at their newest channel of choice. Advertising on the sites was relatively cheap, and marketing on the sites by creating a brand page or profile was free—it only cost internal time and resources.

But those resources can prove to be substantial, as many marketing professionals seem to have learned, based on a November 2010 survey by social media marketing solutions firm R2integrated. Asked what the biggest barrier to social media marketing was, more than two in five selected time and resources. Just half as many said questions about return on investment were as problematic.

Resources Are Now a Big Issue for Social Media Marketers

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Online Ad Spend Surpasses Newspapers!

A milestone for advertising on the internet 2010 will mark the first time marketers put more money into online advertising than newspapers, eMarketer estimates.

Total newspaper spending, including advertising in print and online editions, will fall to $25.7 billion in 2010, a decline of 6.6%. Spending on print newspapers alone will fall more steeply to $22.8 billion. Meanwhile, a rise of 13.9% will push US online ad spending up to $25.8 billion by year’s end.



The spending gap will widen significantly next year, as total newspaper spending falls again to $24.6 billion (including $21.4 billion for print) and online climbs to $28.5 billion.

Online Ad Spend Surpasses Newspapers

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Social Network Ad Spending to Double in U.K. by 2012!

The rise of social networking, and the involvement of advertisers in these channels, was one of 2010’s mega-stories—not least in the UK. Though spending in social networks is still a fraction of total online ad spending, many UK brands have leapt at the chance to engage with consumers in an environment where they spend increasing amounts of time and are highly motivated to share their thoughts. eMarketer estimates social network ad spending in the UK will rise from £130 million ($203 million) this year to £275 million ($430 million) by 2012, an increase of more than 110% in two years. This will boost social network ad spending from 3% of all online ad spending to 6% over the same time period.

via UK Social Network Ad Spending to Double by 2012 - eMarketer.

Inside Twitter’s “100 Million New Members” Number!

How many users does Twitter really have?

Last week, Twitter announced that it added 100 million new accounts so far in 2010. That’s a staggering number when you consider that six weeks ago it revealed it had signed up a total of 175 million new accounts since its launch and was adding new ones at a rate that would bring it to 200 million by the end of 2010. Translation: 50% of Twitter’s accounts were added this year.

On the flip side, the Pew Internet & American Life Project just reported that only 8% of US adult internet users used Twitter in 2010. According to eMarketer’s estimates, there were 178.6 million adult internet users in the US in 2010, so Pew’s figure translates to 14.3 million users. This number is lower than eMarketer’s April 2010 estimate of Twitter users, which will be updated in early 2011.

To be clear, Pew asked survey participants if they actually used Twitter, not merely whether or not they had an account. This is very different from Twitter reporting its total number of new or existing accounts.

Inside Twitter’s “100 Million New Members” Number

Marketers Buy In to Promoted Tweets!

Twitter’s ad formats mature and grow

Twitter advertising is attracting more interest from marketers.

In November, the TWTRCON conference and oneforty, an online directory for Twitter tools, surveyed 110 business professionals, mostly from marketing and communications, about their interaction with Twitter’s Promoted Products suite.

Overall, the respondents were interested in using Twitter ads as a part of their marketing mix, with 51% of respondents somewhat or very interested in Promoted Products. However, 27% hadn’t made up their minds and 22% said they had no interest at all.



Marketers Buy In to Promoted Tweets

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2011 Trends: Content Marketing Is Critical!

Next year, marketers will need to rethink their approach to advertising and marketing and intensify their focus on creating magnetic content that will naturally attract consumers, rather than relying solely on the interruption model of advertising, which consumers are responding to less and less. Think pull vs. push. Magnetic content can include anything created on behalf of a brand—be it an ad, YouTube video, online game, Facebook page, Twitter promo or mobile app—that consumers genuinely want to engage with and pass along to others. This content entertains, amuses, informs, serves a function or satisfies a consumer need. It’s welcome instead of annoying or interruptive. Marketers, especially those working in social media, have seen the proven value of branded content, sometimes also referred to as “earned media.” Nearly three-quarters of US companies with a social media strategy used such content in their campaigns, making it the most common type of content used, according to a June 2010 study by King Fish Media, HubSpot and Junta42.

Creating effective, breakthrough advertising has always been a challenge for marketers, as well as for the agencies charged with the task. But the classic interruption-disruption model of advertising is moribund. Marketers should ask themselves five questions about the magnetic content they are seeking to create to determine whether it will be truly attractive to their audience:

1. Is the content unique?
2. Is the content useful?
3. Is the content well executed?
4. Is the content fun?
5. Does the content make good use of the channel in which it appears (e.g., social, mobile, video)?

Marketers should base their magnetic content ideas on well-researched customer behaviors, attitudes and lifestyles. This entails altering your emphasis in marketing from “selling product” to identifying and solving a consumer need or want that transcends or complements the physical product or service you are selling. Ask yourself this critical question: Besides your product, what can you do for the consumer?

Geoff Ramsey—CEO, Co-Founder

2011 Trends: Content Marketing Is Critical

2011 Trends: Census Highlights Demographic Shifts!

Future growth in the digital population will come from minority audiences.

The overall growth of the online population in the US is stagnating, and most future growth will come from increases in minority audiences including Hispanics, blacks, seniors and children.Hispanics are the fastest-growing segment of the US population, and eMarketer expects the Hispanic online population to grow by nearly 10 million people between 2010 and 2014.

Next year, eMarketer forecasts 32.2 million Hispanics, or 62.9% of the US Hispanic population, will be online. The results of the 2010 census could push those estimates up even further.



While the bureau has consistently projected strong growth within minority populations through 2050, the new figures for all races may change more than the bureau projected.

The census’s open-ended questions on racial and ethnic background—including a write-in answer for filers who did not feel their background could be explained by a single check-box answer—caused much confusion and comment.

It is still unclear how respondents identified themselves and their families.

2011 Trends: Census Highlights Demographic Shifts

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Who's Using Twitter? The Pew Center Report!

The Pew Center has a new report focusing on Twitter usage in the U.S., and it reveals that 6% of the entire U.S. adult population uses Twitter.

The report also reveals women and those with college educations are also slightly more likely than other groups to tweet.

One-quarter of Twitter users check the service multiple times per day to see others’ tweets, while one in five never look for new updates.

These are just a few select statistics about the actual tweets that are going out there:

72% of Twitter users say they post updates about their personal life, activities or interests.

62% post work-related updates.

55% use Twitter to share links to news stories.

53% use the service to retweet others’ material.

40% use the service to share photos with others, while 28% use it to share videos.

24% tweet their location.

The report was compiled as a result of multiple surveys: Data on overall Twitter usage and demographics is from the Pew Internet Project’s November 2010 tracking survey. Information on how often people use Twitter, as well as the topics they post about, were from two October 2010 surveys.

According to the center, this is the first time it has conducted research that focuses solely on Twitter users. This is because Pew typically looks into general online activities, as opposed to particular brands. So in most instances, the center’s research has involved asking Internet users if they “used Twitter or another service to share updates about yourself or to see updates about others?”

In August 2008, 6% of Internet users answered “yes.” By September 2010, the number had changed to 24% — but some analysts and readers assumed this pertained to Twitter users alone. This is what led researchers to decide that Twitter usage was worthy of being examined on its own.  Mashable

Download the full Report.

Big Jump in Social Media for Holiday Marketing!

Three-quarters will market on social sites this holiday season

Holiday advertising budgets are shifting as marketers increase their reliance on online channels, according to research from BDO USA.

While print advertising remains on top for holiday spending, nearly 27% of retailers reported they would spend most of their budget for the period online, including on social networks. That was up just from 18% last year and puts online ahead of broadcast for the second year in a row.

Big Jump in Social Media for Holiday Marketing - eMarketer.

Consumers Believe in Positive Word-of-Mouth!

Good news about brand buzz! Many marketers still struggle with the loss of control over their brand that comes with the ability of consumers to discuss them—and have those messages widely disseminated—across social media. But most brand-related chatter, both online and offline, is positive. And positive buzz carries more weight with consumers, according to research from Keller Fay Group. In a study of hundreds of thousands of conversations, the firm found about two-thirds of word-of-mouth brand references were “mostly positive.” Those can be powerful. Two-thirds of study respondents thought positive word-of-mouth was credible, compared with fewer than half who believed negative buzz. Positive information was also more likely to be passed on to others, more than twice as likely to get people to look for more information, and had nearly four times the chance of pushing consumers to make a purchase.



Overall, word-of-mouth is generally positive, but some industries do get better buzz than others. Children’s products and food brands tended to get the most positive mentions, while net advocacy on behalf of companies in the telecommunications, financial services and healthcare industries was lowest. But even for those brands, the majority of word-of-mouth was still upbeat.

Consumers Believe in Positive Word-of-Mouth

More Time Spent on Social Media than Email Worldwide!

Email most common daily activity, but social racks up more hours

As the social media trend becomes a normal part of life for internet users the world over, it’s also becoming the most time-intensive activity on the web.

The TNS “Digital Life” survey of internet users around the world found in September 2010 that on average, surfers spent 4.6 hours a week on social sites, compared with 4.4 hours on email, the most common internet activity.

via More Time Spent on Social Media than Email Worldwide - eMarketer.

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UK Shoppers Are Global Leaders in Online Spending per Person!

Widely reported last week—by the Guardian, the World Advertising Research Council Warc and new media age magazine, among others—were the results of a study commissioned by Google from the Boston Consulting Group BCG. The headline figure brought a broad smile to faces more often creased with worry in recent months. According to BCG, the internet was worth £100 billion $139 billion to the UK in 2009. That was 7.2% of the country’s gross domestic product—not far behind the 9% contributed by the financial industry.

via UK Shoppers Are Global Leaders in Online Spending per Person - eMarketer.

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Corporate Blogging Goes Mainstream!

Becoming fully incorporated into media and marketing Blogging has been around for well over a decade—an eternity in internet time. Whereas blogs used to be a thorn in the side of traditional journalism, today they’re an essential ingredient in the media mix. Hardly a news organization exists that does not have a blog where its journalists post updates to breaking stories, offer personal commentary and engage in a dialogue with readers and viewers.

Corporate Blogging Goes Mainstream

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Retargeting Used by Marketers for Cost-Effective Brand Lift!

According to a study by comScore and ValueClick Media, the display ad placement strategy with the most brand lift is retargeting.

While display ads may once have been considered primarily a direct response vehicle, and many marketers still rely on measures of declining clickthrough rates as primary display metrics, studies have shown that banner ads provide an important branding vehicle and should be considered as such. Given the cost, reach and effect of various display campaigns, retargeting provides a large benefit with reasonable costs.

Retargeting Used by Marketers for Cost-Effective Brand Lift

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"The Social Network" Writer on Mark Zuckerberg: "I've Been That Guy"

Facebook’s founders are reportedly not very thrilled with the angle of either Accidental Billionares or The Social Network, and have challenged some of the facts in the story they tell, so it’s interesting that Sorkin claims to empathize with Zuckeberg.

As is the case with most film versions of true stories, the facts aren’t all straight. Since the film is a work of art and not a documentary, that old Pablo Picasso quote might apply: “Art is the lie that tells the truth.” And Sorkin’s first objective is obviously to entertain. Sorkin explained his approach thusly

"The Social Network" Writer on Mark Zuckerberg: "I've Been That Guy".

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The Mobile Apps That Affluents Download!

More than one-third of wealthy Americans have downloaded apps to their smartphones and another 11% plan to do so in the near future, according to the Luxury Institute’s September 2010 “Wealth Report.” The Institute polled smartphone owners earning at least $150,000 per year the average income was $247,000 and found that 61% of them paid for at least some of their apps. Similarly to average smartphone owners, affluent users polled downloaded weather-related, news and gaming apps the most.

The Mobile Apps That Affluents Download


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Twitter to Release a Real-time Analytics Solution This Year!

Twitter plans to launch a free analytics dashboard that will help its users – especially businesses – understand how others are interacting with their tweets

Member of Twitter’s business development team Ross Hoffman has revealed at the Sports Marketing Summit that Twitter plans to launch the dashboard in the last quarter of 2010. He was speaking in the context of sports, but there’s no reason to believe the tool won’t be available to other users, too.

Twitter to Release a Real-time Analytics Solution This Year [REPORT].