Weekly Roundup #75 - Psychometrics, Social Media 2017 & Fibre Optics
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Weekly Roundup #75 – Psychometrics, Social Media 2017 & Fibre Optics

In last weeks post we covered how to win back users with Adblockers, how to use perks to incentivise younger audiences and how digital advertising affected the snap election

This week we take a look at:

 

The Digital Infrastructure Investment Fund Offers £400m to Overhaul Britain’s Fibre Network

Digital Marketing Britain Fibre

The Department of Culture, Media and Sport – now re-branded as the Department for Digital, Culture, Media and Sport – will invest £400m to substantially increase the fibre broadband connections to UK homes.

Currently only 2% of UK households have fibre broadband connections, which compares unfavourably to many other countries. 80% of Spanish households are connected to fibre broadband, for instance. These improvements are necessary as it ensures that people can work flexibly and productively, without the connection failing.

The Independent Networks Co-operative Association is calling for 80% fibre coverage in the UK by 2026, and providers should contact Amber Fund Management and M&G Investments, who are the two infrastructure firms that have been asked to act as fund managers for the digitally focussed governmental Department of Digital, Culture, Media and Sport.

Source

Social Marketing in the Year 2017 so far…

Facebook Social Media

As we come to the half-way point in 2017, we check in on the ever-changing Social Media landscape…

Snapchat

In February, Snap – the parent company of Snapchat – filed to go public. It appeared to be losing the war against Instagram, who had launched its rival feature – Instagram Stories – that saw Snapchat’s audience growth slow. By April, more people were using Instagram Stories daily than were even opening Snapchat. Snapchat reported an audience growth grow of 5%, but Instagram saw a 25% increase. In May, Snap recorded its first quarter revenue for 2017 had slid from its fourth quarter in 2016 – saying that this was due to seasonality, a trend that is normal for a seasoned ad business but unusual for an upstart.

Twitter

Twitter has also had an unstable start to the year, despite its re-accelerated audience growth. Its total revenue and advertising revenue are both in decline, and a further blow to their profits from the NFL decision to not renew its regular season live-streaming deal with the company.

Facebook

Facebook launched Facebook Messenger, becoming discoverable through a new tab that increases awareness of the chatbots and businesses on its platform. Another change in 2017 for Facebook sees the introduction of mid-roll ads on video content as a way of providing a revenue stream. Having built itself up as a legitimate alternative to YouTube for creators and publishers, Facebook has begun testing ways for companies to make money from the videos that they post. This poses the question for advertisers as to whether to use YouTube – with its so-called ‘adpocalypse’ – or Facebook’s platform that offers very limited controls over which videos feature their mid-roll adverts…

LinkedIN

LinkedIn was purchased by Microsoft in 2016, and has remained quiet ever since, although 2017 has seen them open up to retargeted advertising through a new program called Matched Audiences. This is a step that many other social media platforms have already taken in order to better cater to B2B marketers.

Pinterest

Pinterest rolled out Lens in February 2017, which features as part of the app the ability to convert the phone camera into the visual equivalent of a search bar. In a bid to do what Google did for text-based searches, Pinterest hopes to create a truly visual search engine as well as using the same technology to target ads on its platform.

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Influencer Marketing for your Business

influencer marketing

Choosing an influencer is a more nuanced decision than simply picking the person with the widest audience or largest number of followers. In order to find success in using influencer marketing, it is important to find someone who is capable of delivering the desired message in a convincing and authentic way, therefore trigger the desired actions in the audience. This requires a relationship between the influencer and their audience that is based on trust.

Taking into consideration the reach of an influencer and the degree of trust that they have with their audience is a reliable way to judge a potential influencer. Also selecting the best channel to carry your message can be more important than the overall reach of the influencer.

If your message requires a short time frame – a product launch or news announcement, for example – then Instagram and Twitter provide a format that seems most suitable. However, if you want to roll out a topic, or present a product in greater detail, then a blog post or ‘vlog’ would be a far more suitable format. These longer ‘think pieces’ are visible for years after their publishing date, and they encourage users to spend more time engaging with the content, and therefore your brand (the average duration for a blog post is between 0.5-1.2 minutes).

Three questions that will direct you to the right influencer might be:

  • What objectives do we want to achieve?
  • Which message should be transmitted by the influencer?
  • Which channels qualify to reach the desired goal?

Answering these questions will give your search the structure and focus that is needed in order to gain the best return on investment from influencer advertising. It should also be noted that all advertising channels should work in conjunction – operating together to work towards a single, overarching campaign goal.

Source

The Importance of a Unified Online and Offline Presence

Digital Marketing Resource

Despite the convenience and vast inventory of online shopping, shoppers are still keen to make purchases in bricks-and-mortar shops. The ability to touch the items gives a better sense of the item, but it is not only purchases that are completed in store, so are returns and exchanges. It makes sense then, to combine both retail environments to ensure a larger wallet share by offering the best of both worlds to your consumers.

Major retailers from both sides are expanding their online and in-store presences to offer a more rounded customer experience. Amazon purchased Whole Foods, greatly expanding their physical presence and transforming the store with Amazon’s supply chain, logistics and customer service prowess. Conversely, Walmart is expanding its online presence with its recent acquisition of the online retailer Bonobos and the online women’s apparel retailer ModCloth.

The lack of touch-and-feel is what should be addressed as an online retailer looking to improve their business. Offering ‘looking before you buy’ requires a physical presence, but there are several ways to do this. Online-only mattress company Casper partnered with Target to offer its customers the opportunity to see their product before purchase. Similarly, Warby Parker, the online discount eyewear retailer is steadily adding physical stores to its portfolio.

Remaining online-only also has options to increase the customer’s sense of ‘try before you buy’ – Amazon has launched Prime Wardrobe, which is a service that brings the ‘fitting room to you, so you can try on the latest styles and find your perfect fit before you buy’. Ordering clothes, shoes and accessories to test-drive for seven days before purchase offers Amazon Prime customers a flexible and convenient service without a physical store.

Amazon has also decided to open physical storefronts to accommodate customer preferences for same-day pick ups, in-store returns and other in-store perks that amount to an improved customer experience and brand loyalty.

Increasing online sales whilst pushing the shopper to the physical location through discounts is another method of combining the online and offline retail experience. Nearly half of all online orders from Home Depot are collected in-store, and Walmart has recently introduced Pickup Discount, which offers discount on online-only products should the consumer collect them from a Walmart store.

Amazon Prime Reload and Target’s Redcard both offer their customers cashback should they pre-load funds into their Amazon or Target debit cards. Many other companies are running similar schemes, which cross channels and make it easier for consumers to do business with a brand whether its in-store, online or via mobile.

Engaging customers via mobile with a personalised offer upon entry to a store, or informing them of offers on abandoned shopping cart items – there is a lot to gain from combining the advantages of a physical presence and an online store Best Buy and Home Depot are among the retailers who have adopted a blended, omni-channel strategy and have seen increased or sustained profit without opening any additional retail stores.

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Psychometrics: Discovering Your Consumer’s Personality

Psychometrics and Digital Marketing

Psychometrics – an established method of measuring personality traits – is quickly becoming the newest tool in the advertiser’s arsenal. The demographic and behavioural data, such as age, location, income and past purchases have been used in order to better understand the consumer, and psychometrics will push this towards an even more personalised understanding of the individual consumer.

Developed by psychologists there are several frameworks that help measure and identify personality traits – the Meyers Briggs Type Indicator (MBTI), OCEAN or The Big Five. Quantifying five dimensions of personality, The Big Five looks at openness to experience, conscientiousness, extraversion, agreeableness and neuroticism.

Using these five categories, it is possible to target adverts and products at people according to their position along the spectrum. A travel company would do better to advertise to people who are more open to experience, whereas a car insurance firm would likely see a higher conversion rate when advertising to people who have a high degree of neuroticism.

A psychometric test typically requires up to 100 questions, which is a labour intensive process that is unsuitable for retailers to pursue with their customers. Thanks to the personal nature of social media, it can provide the type of data that can be understood through the five psychometric dimensions. Cambridge Analytica discovered that you could assess Big Five scores with a great degree of accuracy, simply by looking at what a person had liked on Facebook.

Today, there are psychometric tools for Facebook, Twitter, Instagram and LinkedIn that can quickly determine your personality type by analysing your posts. As proof that this data is accurate and useful, in the recent US election, Donald Trump used the Cambridge Analytica data to help target people with a high degree of neuroticism on Facebook… Our mouths are shut.

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by:

Sebastian Paszek

Marketing manager

Controlling the chaos of the digital landscape, Sebastian is a multiplatform executive, project manager and photographer.