Fellow marketing friends, 2015 is around the corner and more than one of us is going to be asked by the HIPPO (AKA – highest paid person in the organization) what’s worth valuable marketing budget dollars. Here is a recap from my recent adventure to Ad:Tech 2014 in New York, where all things involving trends and data analytics were discussed.
Defining Your Goals
Facebook paid advertising is widely used by many brands, and leading the debate are engagement rates and expectations of social advertising. Since two-thirds of Facebook’s revenue last year was paid advertising, many marketing professionals are pushing to get the Edgerank algorithm tweaked, because while Facebook reach on advertising is good the engagement metrics continue to decline.
As a result, leading digital marketers think that “conversions” is too high a bar to set for Facebook, and instead to substitute your social goal as “conversations shared.” That said, we all know that Facebook is still the industry leader, even if the analytics and traffic volume being reported by the platform are in question. So don’t pull out of Facebook, but keep an eye on Twitter’s soon to be updated paid advertising platform and follow the growth of Twitch, an up-and-coming leader with millennials.
The following chart helps outline how you can align your goals and metrics.
2015 is predicted to show even more growth for Advertising Technology. One emerging reason is that as the CMO’s job has gotten harder, they need a strong understanding of the data.
The consumer base is more fragmented than ever, and every brand needs to become more relevant than ever to surface to the top. Technology is helping the reinvention and selling extra services and increasing mobile offers via gaming and social.
As a result, our client’s needs are fragmenting, just like their consumer base.
Companies are hungry for technology-savvy marketing and creative shops that provide break-through thought leadership and inspiration.
Next year will see many large brands needing to bridge the gap between traditional mass media and digital while understanding how to execute on the data analytics that result. Take time to look at the poetry of big data, and not just the plumbing behind it. There is much to market towards with big data. Be wise with what you pay attention to as an advertiser in 2015, and let data be the science that measures the art.
It’s time to stop “selling stuff” and start building strong, provocative relationships that maintain the business. Reward the consumer for the time they spent with you or your product and invite them to continue your brand’s story.