A report from The Incyte Group on social media marketing that states “U.S. marketers spent $3.08 billion on Facebook brand pages and social media advertisements and the investment return has been dismal” . The fact is, despite their reach, open social networks have not proven to be the most effective customer-acquisition or revenue-generation channels, and most businesses are still seeking to quantify the business value of their investments.
It is abundantly clear that there is a massive “digital divide” between consumers engaging in real-time across channels, versus the digital marketing industry that is still largely siloed and not executing in real-time. It appears that this digital divide is due, in large part, to two key challenges observed in this research, namely: Overwhelming Complexity and Lack of Unified Measurement.
With big brands General Mills has traditionally targeted its marketing to the masses with hefty TV ad budgets and messages carefully crafted to resonate with as many people as possible. But recently, they have begun to think a lot smaller, using digital to go after what they call “micro markets.” They are leveraging the power of digital to make their marketing more efficient.
As marketers spend billions of dollars a year on advertising, effectiveness cannot be measured by impressions alone. Resonance
is the holy grail of a successful campaign. In a market saturated with clutter, marketers need to reach audiences with advertising messages using the formats that make the most impact. While TV remains the front-running format for the delivery of marketing messages based on ad spend, consumers globally are also looking to online media to get information about brands .
Post Summary: The Internet has not only empowered consumers it has made them more informed about current issues with brands and products. Brands that hide from the truth or ignore social media buzz are going to pay a huge price as consumers drop them like a bad habit. UPS might learn this the hard way as they “failed to anticipate the demand” for Christmas delivery leaving a lot of people without Christmas presents.
Post Summary: Despite spending high amounts of money and energy acquiring traffic, marketers are not following through by devoting significant funds to optimization strategies that can increase their returns. In fact, 81% of the more than 1,700 digital marketers surveyed reported spending 15% or less of their marketing budgets on optimization activities. And beyond this lack of investment, many are also not exploiting critical opportunities: 53% are not optimizing the relevance of their on-site search results, and 52% say that testing consumer engagement is not a priority at their organization.
Two in ten online consumers indicate that, in the past month, they have forwarded a link to an article about a brand or product (19%) or to a brand’s or product’s website (19%) to someone in the past month, while 15% have forwarded a link to a brand’s or product’s video. Surprised ? Where do you think consumers are going to turn when they eant information on your brand or product? If you answered Facebook you don’t get ice cream after dinner today.