Social Media

Social Media requires integration

Social media has not only had a major influence on society, but also on business, disrupting organizations for the past 10 years. Today, more and more companies have integrated social media into their marketing communications as a means of customer engagement. Now that the basics have been mastered, it no longer is about scaling social engagement but rather about focussing on partnering inwards as well as outwards.

Social media requires leadership

A social media strategy needs to work across the organization, across silos, support the company’s digital vision and requires new levels of employee engagement and advocacy. To be able to do this, strong leadership is needed to move social media beyond marketing communication and to create a true social business vision.

Altimeter has released a new analysis on “The 2015 State of Social Business: Priorities Shift from Scaling to Integrating” based on interviews with thought leaders, brands, technology vendors and a survey of 113 strategists (social, digital and/or heads of social) at companies with more than 250 employees.

Here are the most important findings in one infographic:

infografik-social-business-2015

 

 

Smartphone Jealousy

ChinaWe Are Social updated their annual Digital Statshot on China this week. And it does not look like the pace of digital adoption is slowing. Believe it or not – China now has more social media users than the US and Europe combined.

When I look at China’s digital landscape, I realize that we are not using our phones to their full potential. China’s great firewall may mean there is very limited access to services like Twitter, Facebook or Google but when you see how much messaging services like WeChat can do that sort of can become irrelevant. WeChat is not only a messaging service. It lets you play games, check into a flight, call a cab, make money transfers and soon also a stock trading function.

Not only is cheap technology an advantage in China but also with it being the largest internet culture (some 668 million wired people, 89% on phones alone!) make a great test market. And in China, mobile payments are much easier to use because it is more widely accepted. No need for merchant’s to have special terminals because they have accounts within social networks like WeChat. Imagine if you could pay for your pizza delivery in Europe using your WhatsApp service! And not to ignore giant Alibaba that has expanded their service for online cash for anything like paying your rent, bills etc. You can even earn better interest with them than with a regular bank and get a loan if you need it. Financial disruption at its best.

You can read the full report here:

The growth continues

Summer is in full swing and we have crossed the first half year mark. Time to look at some digital stats (kindly provided by We Are Social).

Facebook is still the dominating social media platform with almost 1.5 billion users. They are adding more users every day or impressively put ‘6 new users per second’. What is interesting is that what follows Facebook are messenger platforms like WhatsApp, WeChat or Messenger. This is particular interesting development in the mobile social world. People seem to prefer chats to the conventional social networks. Ads on WhatsApp soon?

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What also fascinated me is that the statistics show that 225 million people around the world used the internet for the first time in the past 12 months. According to telecommunications giant Ericsson, cellular subscriptions will continue to grow to almost 8 billion active subscribers over the next 5 years. That’ll be more than the world population. And remember: not every world citizen is connected yet!

mobile vs people

What does that mean? As I have written here in the past, as marketers we really need to place more effort on smart mobile devices. Not only are they part of our everyday life, for many people around the world is it their “first screen”, their only device. And they use it for everything from communicating, browsing the web, watching TV to shopping. This is the place where brands need to make an impression because it is becoming more than just a channel.

Speaking of marketing, mobile and social, I really like Talenti’s new ‘Flavorize Me’ campaign that uses social media profiles to create a personalized ice cream flavour. An algorithm analyzes the key words you have in your Facebook, Twitter or Instagram profiles, breaks those down into tastes and then into ingredients that match those. I ended up with “Marmalade Green Chili Biscuit”. Sounds very interesting. Talenti is only available in the US so unless they decide to take my personalized flavor and use it for actual production (which btw according to their website they will let me know by September 15), you will find me eating gelati in Italy this month.

gealti

 

Is our economy suffering from attention deficit disorder?

Bank of England’s Andrew Haldane caused quite a stir with his speech “Growing Fast and Slow” where he talked about the forces that underpin economic development. It is not about neoclassical growth theory or the role of education in the industrial revolution – rather he talks about how the internet and social media may be hindering economic growth. Is technology really undermining one of the key psychological prerequisites for economic growth: patience, and the willingness to put off current gratification for future gains? It is an interesting argument but one of which I am not completely convinced of yet. You can read the whole speech here.

 

Inroads in social media marketing for financial services

Consumers have long moved on from just using the internet for information-gathering. Social networks are growing at an incredible pace. We all know that social media lower costs and optimizes marketing spending. Now is the time for financial services companies to move from just “being” on social media and start to truly “engage” with their customers. At the end of the day it is all about using social media tools to build personalized customer relationships.

There are many financial companies, like American Express or UBS, already optimizing their use of social media. Accenture has identified 11 social media tactics that can help achieve a specific outcome and that should ideally not just be used in isolation.

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It is important to keep in mind, that social media marketing always needs to be fully integrated in your company’s digital and corporate strategy to achieve the best impact possible.

Here is a link to the full report.

The State of Social Media in June 2014

Social media continues to evolve at what seems like lightning speed.

  • On average 2 new members join LinkedIn every second
  • There’s around 1 billion Youtube mobile videos views a day
  • Around 60% of Facebook and Instagram users sign in everyday
  • 500 million tweets are sent everyday
  • 50 million users signed up to Instagram in the last 6 months.

The main takeaways from JWT Inside for this month are:

  • There are 44,000 mobile job applications sent everyday on LinkedIn
  • The highest traffic occurs between 1pm and 3pm
  • 77% of internet users read blogs, written by 12+ million people.

It’s all about Mobile: Some Insights from Mary Meeker’s 2014 Internet Trends Report

Mary Meeker’s State of the Internet presentation gives us a great insight into the Future of Digital – albeit in a 164 page slideshow. Here are some takeaways that I find the most interesting:

  • Internet access growth may be slowing, but not on mobile.
  • Tablet shipments increased by 53% in 2013 – that is a faster pace than PCs ever had. And many consumers are leapfrogging the PC completely as we are living in an era of smartphones.
  • Mobile accounts for 25% of all web usage. That’s 14% increase from last year!
  • We spend 20% of our media time online. But there still is a huge opportunity for mobile ad spend growth.
  • We are using social networks to share more privately than broadcasting – just think of the rise of WhatsApp. This also accounts for photo sharing being up 50% over 2013 in just the first half of this year.
  • Mobile business since 2008 has exploded from $2 billion to $38 billion. This just shows how important it is for media companies to promote high-quality apps for their products and services.
  • Google and Apple are the future. While this may seem obvious we should remember that 8 years ago they had no phone business, today they rule our operating systems.
  • Video still is king. And YouTube cannot be underestimated. It creates stars and is getting huge monetization through ads.
  • And finally China. It is becoming a critical market with 80% of its internet user now on mobile. Plus China is not copying, it is innovating. So we need to keep an eye on that.

And to conclude: the future of the Internet, in one graph, showing screen time by screen type around the world.

mary