There is some lopsided thinking out there. There is a “belief” that just because a consumer becomes a customer of your brand that they want to have a relationship with you that extends beyond the 4 P’s. For a lot of brands this just isn’t true. Just because I like pudding doesn’t mean that I want to have a relationship with you on Facebook.
Augie Ray says “The secret to social media success (and failure) is no longer secret. Companies need to stop talking and start listening. They need to stop broadcasting and start responding. They need to stop posting to people and instead encourage people to start talking with each other. They need to stop promoting new products in social media and instead use social to collaborate when developing new products. They need to stop publishing content they hope people will share and instead give people product experiences consumers actually want to share. They need to stop trying to be entertaining in social media and instead offer great customer care in the channel. They need to stop counting fans and tallying engagement and start creating advocates and measuring business value. And finally, brands need to stop positioning themselves as more caring, more transparent and more committed to the customer and instead be more caring, more transparent and more committed to the customer.” The end of social media marketing?
Less than half (40%) of the businesses surveyed by Harris Poll for Hootsuite’s Social Business Benchmark report said they used data gained from social media to improve their bottom line. 60% agreed that it was a challenge to find the actionable use of the data collected.
Over half (55%) of consumers are put off buying products or services if they see the same ad online multiple times, according to a study by InSkin Media and RAPP Media that surveyed over 1,600 people aged 20 to 60. Only 10% of consumers are more likely to buy something after seeing the same ad served repeatedly because of their previous web surfing behavior (known as retargeting).
Unless you have been on a remote island it was hard to miss the news that P&G intends to shed more than half of its brands. According to P&G “some of our big brands are in industries that are not very attractive: they’re not growing or low margin or commodities. If it’s not a core brand – I don’t care whether it’s a $2 billion brand, it will be divested.” So much for improving marketing with an emphasis on digital.