2018 ushers in a new era in Social Media advertising. Last autumn Facebook quietly introduced a new ‘explore’ feed. Why does this matter to companies? For years now Facebook has been reducing the free reach option.
In the past, companies could gather Facebook followers, upload content and enjoy considerable exposure through a traditional ‘organic’ process. Companies wanting to turbo-charge the reach could also use the boost feature (...it does what it says on the tin and boosts the post to reach more consumers). This paid boost option has gradually increased. The last credible stat on this was that organic had fallen to as low as 2% and now it seems likely that Facebook will, in 2018 end the free option completely. Facebook feeds are at breaking point and testing has already begun in some countries to silence all company social content from the overcrowded news feed, transferring them all to ‘explore’ unless ad costs are paid. A new era indeed. Is it worth it? The stats tell the story with consumers spending increasingly more time on social platforms – younger markets up to a staggering 9 hours a day. And the success of Facebook advertising is in its ability to target ads with phenomenal precision. If your company wants to target women healthcare workers who live in Dorset, enjoy eating Mexican food and drive cars, Facebook can find them and share your posts accordingly. For agencies like Sambecketts working with companies to help them identify new markets this is an extraordinary opportunity. It takes skill to set up campaigns but those campaigns are more and more effective thanks to the new era of precision targeting. Artificial Intelligence (AI) will also play an increasingly vital role this year in determining which ads are working on social platforms and the optimal second – yes second (not hour, not day, not minute – second!) for posting your content. This kind of hyper-local, hyper-targeted and hyper-timed millisecond marketing will take much of the guesswork out of ad campaigns. But don’t be fooled that all of this incredible science will reduce the need for flair and creativity. Smart companies will still need to combine great creativity with emerging AI technology if they want to stay ahead of competitors. The era of ‘going viral’ has changed. Going viral tells you nothing. It might stoke the ego of company owners but we now know that it doesn’t necessarily show-up on the bottom line. So one without the other simply won’t work – tech and creative still need each other. Even so, it is a mouth-watering prospect for marketing companies who want to deliver great results for clients. These algorithms are like footsoldiers for Creatives, able to alert them within milliseconds to what is working best and adjusting posts automatically to make sure only the most effective content is being seen. If you want your company to take advantage of Social platform advertising call us for a chat. We would love to discuss your unique requirements, large or small.
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The trend for consumers demanding convenience and limitless choice at rock bottom prices shows no sign of slowing down. The music industry has long passed the tipping point with subscription sites like Spotify enjoying deeper and broader market share. People have become used to paying a flat, affordable monthly fee and having it all. Amazon did it with kindle and your bookshelf, Netflix with your TV and movie entertainment.
Now, the latest trend developing in the US is for rented clothing. ‘All you can wear’ deals where consumers pay a monthly fee to rent designer clothes for formal events, special occasions and (coming soon folks) everyday and work wear. If it grows at the rate retail analysts expect, it will be just one more in the domino effect of industry disruptions – this time, fashion. Market leader, Rent the runway is bullish. Earlier this year co-founder Jennifer Hyman while announcing RTR had achieved over $100m sales last year said that they now aimed to ‘put Zara and H & M out of business’. A model of subscription where consumers will pay a monthly subscription of estimated between £100 - £150 per month to include every aspect of your wardrobe: clothes, accessories, bags – up to 4 items at a time and continuous refreshment throughout the month. The business says they provide ‘experiential marketing’ for young designers and brands, offering a younger market the chance to enjoy clothing, which typically would fall into an older market’s price bands. They offer sellers the chance for a much earlier connection with their customers and the increased exposure, they say, will have significant implications for increasing share and sales. For the consumer the attraction is obvious too – unlimited wardrobe options at consistent pricing levels. Marketing and web analytics is playing a critical role as it establishes shipping and distribution models, pricing structures, buying behaviours and targeting as personalisation of choices becomes ever more ‘personal’. The race is now on for this trend to find you, meet your needs, get the pricing right for your pocket and simplify the entire retail experience, including bricks and mortar options for trying on and choosing your rental wardrobe in your lunch break or after work. The line between online and offline shopping will blur into an easier, more affordable, more convenient and flexible choice model and marketing analytics will navigate the change. |
AuthorSambecketts Archives
May 2018
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