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A new study by Accenture found that the US $492 billion global social commerce industry is expected to grow three times as fast as traditional ecommerce to US $1.2 trillion by 2025. Growth is predicted to be driven primarily by Gen Z and Millennial social media users, accounting for 62% of global social commerce spending by 2025.

According to Accenture’s report, “Why Shopping’s Set for a Social Revolution,” social commerce means a person’s entire shopping experience — from product discovery to the check-out process — takes place on a social media platform. Just under two thirds (64%) of social media users surveyed said they made a social commerce purchase in the last year, which Accenture estimates to reflect nearly 2 billion social buyers globally.

“The pandemic showed how much people use social platforms as the entry point for everything they do online — news, entertainment and communication.” said Robin Murdoch, global Software & Platforms industry lead at Accenture. “The steady rise in time spent on social media reflects how essential these platforms are in our daily life. They’re reshaping how people buy and sell, which provides platforms and brands with new opportunities for user experiences and revenue streams.”

Social Commerce

 

While the opportunity is significant for large businesses, individuals and smaller brands also stand to benefit from it. More than half (59%) of social buyers surveyed said they are more likely to support small and medium-sized businesses through social media commerce than when shopping through ecommerce websites. Furthermore, 63% said they are more likely to buy from the same seller again, showing the benefits of social commerce in building loyalty and driving repeat purchases.

“Social commerce is a levelling force that is driven by the creativity, ingenuity and power of people. It empowers smaller brands and individuals and makes big brands reevaluate their relevance for a marketplace of millions of individuals,” said Oliver Wright, global Consumer Goods and Services lead at Accenture. “Getting social commerce right will require creators, resellers and brands to bring their products and services where the consumer is, and will be, rather than the other way around. It means working together within a dynamic ecosystem of platforms, marketplaces, social media and influencers to share data, insights and capabilities to deliver the right incentives and best consumer experience across an integrated digital marketplace.”

Social Commerce

Half of social media users surveyed, however, indicate they are concerned that social commerce purchases will not be protected or refunded properly, making trust the biggest barrier to adoption, as it was for eCommerce at its beginning.

“Those who have yet to use social commerce say one reason they are held back is their lack of trust in the authenticity of social sellers, while active social commerce users point to poor policies on returns, refunds and exchanges as an area for improvement,” said Wright. “Trust is an issue that will take time to overcome, but the sellers who focus on these areas will be better positioned to grow market share.”

Social Commerce: Who is Buying What

Accenture’s report found that by 2025 the highest number of social media commerce purchases globally are expected in clothing (18% of all s-commerce by 2025), consumer electronics (13%) and home décor (7%). Fresh food and snack items also represent a large product category (13%) although sales are nearly exclusive to China. Beauty and personal care, although smaller in terms of total social commerce sales, is predicted to quickly gain ground on eCommerce and capture over 40% of digital spend on average for this category in key markets by 2025.

Among the study’s other findings:

Consumers in developing countries are more likely to use social commerce and do so often. Eight out of ten social media users in China use social commerce to make purchases for a given category, while the majority of social media users in the U.K. and U.S. have yet to make a purchase via social commerce.
Shoppers in China, India, and Brazil care more about features that help them discover and evaluate potential purchases while those in the U.K. and U.S. place more importance on pricing and discounts.
Trust is more important to older generations than younger generations. Older shoppers emphasize security features and value brand familiarity while younger generations are attracted to livestreams and put more faith in buyer reviews.

Research methodology

Accenture Research conducted a series of studies on s-commerce to better understand the nature of this opportunity. We designed and fielded an online survey of 10,053 social media users in China, India, Brazil, the U.S. and the U.K. The online study was conducted August 12th – September 3rd, 2021. We also conducted in-depth interviews with shoppers and sellers from those same five markets between May 26th and June 2nd, 2021.

Accenture’s market forecasts were produced using econometric modelling, considering the optimization of consumers’ preferences to accelerating existing market momentum. The social commerce market includes products or services ordered via social networks, regardless of the method of payment or fulfilment, covering business to consumer (B2C) and consumer to consumer (C2C) transactions.

This partnership offers a powerful new solution for Mexican advertisers: the availability of real-time market intelligence for paid social media advertising.

GfK – the leader in consumer and market intelligence and analytical and consulting services – announced an expanded partnership with BrandTotal, the leading social competitive intelligence and brand analytics platform.

With “dark” marketing – highly targeted campaigns invisible to the general public – now accounting for 88% of social media advertising spend, marketers often have little knowledge of the ads reaching their most important consumer segments. To break through this measurement roadblock, GfK and BrandTotal’s partnership allows marketers to track social advertising campaigns – including dark marketing – that target clients’ customers.

The new offering empowers marketers to:

  • Track competitor activities – including paid, organic and dark campaigns – across multiple platforms
  • Benchmark and optimize digital campaigns in real-time for custom consumer segments and goal setting
  • Effectively measure their brand against competitors and unlock their entire social advertising performance and strategy
  • Compare interactions and effectiveness across digital and social channels
  • Identify and address consumer net sentiment and engagement changes to campaigns over the course of weeks or months

The GfK and BrandTotal partnership brings together BrandTotal’s unmatched social media marketing intelligence platform with GfK’s global expertise in brand measurement and marketing, driving growth and increased brand value. GfK data and marketing science teams leverage and integrate BrandTotal data to help clients extract maximum value from social media data to answer business questions from different stakeholders.

The two companies joined forces in 2019 and have been working in the US, where BrandTotal has been adopted by key GfK clients. Because of this outstanding performance, the partnership is now expanding to Mexico.

Ricardo Barrueta, General Manager, GfK Mexico.

“Most social media advertising campaigns are invisible to the public, resulting in reduced business intelligence and blind spots,” said Ricardo Barrueta, General Manager, GfK Mexico.

“With this new solution, powered by BrandTotal, Mexican companies will now see the whole picture, tracking not just their own social ads, but their competition’s ads, including user engagement, net sentiment, creative choices, and beyond. This will help them make the right decisions, at the right time, for more effective marketing strategies.”

Using artificial intelligence, BrandTotal’s platform identifies, aggregates, and analyzes marketing campaigns across the social media ecosystem, helping advertisers and agencies see their competitive landscape farther and more clearly. It provides deep actionable insights on consumer advertising sentiment and engagement, spend, creative and design tactics, dark versus public ad metrics, organic and sponsored data, share-of-voice (SOV), share of topic, video versus non-video, social media mix, audiences, and more.

By delivering real-time, granular visibility into the social advertising strategies of competitors, GfK and BrandTotal unlock the intelligence clients need to optimize their own strategy, creative performance, consumer engagement, and sentiment.

Companies can even get a granular comparison at the campaign or product level for competitor media and creative.

“GfK and BrandTotal offer access to actionable, competitive intelligence that is not available elsewhere, all through aggregated multi-channel data in a simple visualization panel,” added Barrueta. “Companies can even get a granular comparison at the campaign or product level for competitor media and creative.”

GfK and BrandTotal can provide clients intelligence on how competitors interact with consumers, how targeted consumers respond to competitor ads, and which social platforms contain the most effective competitor advertising campaigns. This enables Mexican brands and agencies to outsmart and outshine their competition, winning wallet share and strengthening consumer love and loyalty.

Alon Leibovich, CEO & Co-Founder, BrandTotal.

“We are pleased to expand our partnership with GfK and make BrandTotal’s competitive social advertising intelligence available to the Mexican market,” said Alon Leibovich, CEO & Co-Founder, BrandTotal. “BrandTotal is on a mission to even the playing field in social advertising, enabling advertisers and agencies to see every ad in their category and how consumers react to them. In doing so, we help brands and buyers optimize their own strategies, amplifying social commerce advertising performance and maximizing spend.”

At Advertising Week New York, BrandTotal launched new offering for agencies that provides an inside look into competitors’ social advertising.

BrandTotal, the leading social competitive intelligence and brand analytics platform, today announced BrandTotal for Agencies at Advertising Week New York. BrandTotal for Agencies is a new offering that delivers real-time, granular visibility into the social advertising strategies of a brand’s competitors, helping agencies win new business, better serve clients and become more strategic.

Social Advertising
Alon Leibovich, CEO & Co-Founder, BrandTotal.

“Agencies are constantly under pressure to drive campaign performance for their brands,” said Alon Leibovich, CEO & Co-Founder, BrandTotal. “Unfortunately, social media intelligence has always been a black box, with limited access to competitive advertising strategies and metrics. With BrandTotal, that completely changes. We give agencies a 360-degree granular view of their clients’ competitive category data to more effectively measure social ad performance. This helps you easily pivot your creative and media strategy to ensure agency clients beat the competition.”

Using artificial intelligence, BrandTotal’s platform identifies, aggregates and analyzes marketing campaigns across the social media ecosystem, helping agencies see their clients’ competitive landscape farther and more clearly. It provides deep actionable insights on consumer advertising sentiment, consumer engagement with competitive ads, competitive media spend, creative and design tactics, dark versus public ad metrics, organic and sponsored data, social share-of-voice (SOV), share of topic, video versus non-video, social media mix, audiences, and more.

Key benefits of BrandTotal for Agencies include:

More Value Creation

See all of your clients’ competition’s social ads, paired with real-time consumer responses and sentiment. Understand what other brands are doing, so you can win more business as well as help your own clients punch above their weight, pivot strategy, or revamp their approach. Create insight-driven creatives for maximal performance that help transition your agency to performance-based invoicing and gain customer loyalty.

Maximum Coverage

BrandTotal covers all major social media platforms resulting in the broadest coverage of social share of voice and social advertising competitive intelligence data than any other solution in the industry.

Comprehensive Visibility

BrandTotal delivers deep insight into client competitors’ dark versus public social advertising, showing the entire number and percentage of organic, paid, and dark social ads each brand is running paired with consumer responses to those ads. You can also use contextual intelligence layers and correlate filters such as consumer sentiment and engagement by dark ads, public ads, or all ads — and much more.

Unparalleled Data Granularity

BrandTotal provides a 360-degree granular view of your clients’ competitive data at the category, brand and sub-brand, product, and even the campaign and ad level, so you can get the deepest and most accurate data to make the best decisions for each strategic initiative, or line of business, or client organization.

Flexible Offerings

Get standard syndicated categories out of the box, so you can see all of your prospects’ and customers’ rival brands within each category, and their performance data. See across any category, including ads, consumer sentiment, and media spend. For agencies that want a deeper dive into advertising insights, consider our customizable option, which enables you to deep dive into unparalleled granular insights with surgical precision – see the campaign, LOB or product-level data.

BrandTotal for Agencies helps agencies better serve existing clients, measuring their social ad performance benchmarked against their category competitors. This enables them to be proactive and relevant with actionable, data-driven competitive advertising insights. Agencies can also use BrandTotal for Agencies to win new business by minimizing the guesswork during pitches. Agencies can build new client services and optimize revenue opportunities with BrandTotal’s solution.

Many social media users actively avoid sponsored posts that seem inauthentic or uninformative. Why brands must strive to connect with micro influencers that genuinely align with their products to achieve a successful partnership.

 

Most social media users (58%) in the U.S. have not and never intend to buy products through influencer promo codes, according to a new survey report from Visual Objects, a visual guide to finding and hiring the best creative firms.

Rather than product placements and advertisements, social media users are drawn to informative content that provides insight into a subject of interest.

The most popular types of influencers are subject matter experts (34%), business leaders (29%), and wellness experts (28%). Influencers with subject matter expertise are best able to engage their followers and cultivate communities based on shared interests.

Influencers with these engaged, niche followings are ideal candidates for business partnerships. However, companies must team up with influencers that can present their products genuinely to be well-received by their audience.

micro influencers
Kyle Dulay, director of Collabstr.

Kyle Dulay is the director of Collabstr, a marketplace that connects brands with influencers. Dulay recommends aiming for authenticity and relevance in sponsored social media content.

The influencer should be able to talk about the product with ease because it’s something they would’ve used in their everyday life regardless of the sponsorship.

“Brands should only reach out to influencers that are highly relevant to their products,” Dulay said. “The influencer should be able to talk about the product with ease because it’s something they would’ve used in their everyday life regardless of the sponsorship.”

Consumers Follow and Trust Micro-Influencers

Micro-influencers have considerably smaller follower counts than large-scale macro-influencers. However, most social media users (55%) typically follow influencers with under 50,000 followers.

micro influencers
Tanner Arnold, President and CEO of Revelation Machinery.

Tanner Arnold, President and CEO of Revelation Machinery, believes micro-influencers should be front-and-center in social media partnership considerations.

Any brand should include micro-influencers in their marketing campaign because it will help their budget in the long run.

“Any brand should include micro-influencers in their marketing campaign because it will help their budget in the long run,” Arnold said. “Brands have a better chance of reaching a larger, more engaged audience this way, allowing them to develop a genuine fan base.”

With more engaged followers of similar interest groups, micro-influencers serve as a competitive alternative to partnering with a larger, more expensive macro-influencer.

People Follow Limited Numbers of Influencers

Despite influencer popularity, most individuals are very selective about who they follow. The majority of social media users (57%) follow five or fewer influencers.

Large-scale accounts, known as macro-influencers, are likely to earn at least a few of these ‘follows’ due to their broad reach, name recognition, or celebrity status. But micro influencers will tend to have increased engagement.

micro influencers
Mark Hayes, head of marketing at Kintell.

A content partnership with a macro-influencer will reach a variety of people with different interests. The opportunity to reach millions encourages brands to invest in macro-influencers, according to Mark Hayes, head of marketing at e-learning platform Kintell.

Getting an endorsement from your favorite influencer can drastically change your perception and buyer behavior.

“Getting an endorsement from your favorite influencer can drastically change your perception and buyer behavior, which is what makes this such an alluring concept for marketers,” Hayes said.

Visual Objects surveyed 501 active social media users in the U.S. about how they engage with influencers and what drives them to follow influencer accounts.

 

 

 What are the ten most-visited sites and platforms in Latin America? How do they factor into users’ social media priorities? How are views distributed? Here, you’ll find the answers to those questions based on the December 2015 comScore rankings.

Translated by Gretchen Gardner

Users choose different social media platforms based on each one’s available functions (which allow people to post, share, debate and relate with each other), as well as how each platform facilitates and solves these needs. Try kennected video for video messages.

In this article, the comScore report shows the total amount of unique visitors in the social media category, distributed among 10 different platforms. Given that users, in many cases, utilize more than one of them, the total sum of unique users for each platform indicates the amount of duplicate users in the social media category.

Source: comScore MMX, Latin America, December 2015, Home and Work, Social Media Category, PC/Laptop OnlyTotal Unique Visitors (000)
 Total Internet:  Persons: 15+182.473
 Total Social Media166.137
1    Facebook140.553
2    Blogger61.231
3    Linkedin22.836
4    Twitter18.312
5    WORDPRESS.COM*17.746
6    TARINGA.NET17.650
7    NAMETESTS.COM12.966
8    TUMBLR.COM*10.967
9    Google+8.004
10    PINTEREST.COM7.372

85% of Visits Are on Facebook, 5% Google+

85% of users in Latin America that use social media platforms prefer Facebook, while Google+ receives 5% of the visits.

Both platforms are on extreme ends of the rankings: Facebook in first, and Google+ in ninth.

Similar but different, while Facebook proposes a more connected world, Google+ serves as the social network of Google products.

Blogger Sites Receive 54% of Visits

54% of Latin American users in the social media category visit BloggerWordPress and Tumblr. This is no small detail, as an almost equal percentage are visiting Facebook. When it comes to Pinterest, while it’s not really a blog, it has functions that are compatible with those types of formats (which increases the visits in this category by 4%).

Entertainment: Taringa and Nametests

Almost 20% of unique users relate to each other through entertainment. According to this ranking, Taringa (an Argentine social network with a large following in Spanish-speaking countries) receives 11% of the visits, while Nametests is visited by 8% of the users in the region.

LinkedIn Takes 40% of Visits

While LinkedIn is a niche site (given that it caters to users that have strictly professional interests), it is interesting to observe how users put it among the top spots in the ranking.

Twitter Receives 11% of Visits

Apparently, Twitter did not end well in 2015: the company suffered a decline in users in the third trimester of 2015, and according to this comScore ranking, the percentage of visits that it received in Latin America comes out to 11% of unique visitors in the social media category. While it is below LinkedIn, what is certain is that it is among the top spots, coming in fourth in the ranking.

A point in favor of this platform is the repercussion of its publication in diverse media (online as much as offline), and its popularity among users. These factors are variables that could contribute to a quick recovery from the decline in users.

 

What: Social media engagement in Latin America in 2014 showed 127 %  year over year increase in engagement across Facebook, Twitter and Instagram, with 455.3 million total actions.
Why it matters: With 87,620 total actions, Mexico ranks as the second most social media engaged country in the region, after Brazil.Facebook accounted for 94.6 % of total actions.

redes.sociales-285x200Social media engagement in Latin America for the month of July 2014 showed 127 percent year over year increase in engagement across Facebook, Twitter and Instagram, with 455.3 million total actions, according to a Shareablee’s analysis.

 

Engagement per country

Mexico ranked #2 by total actions (87,620) while ranking fourth overall based on audience size, indicating a highly engaged audience. For the number of average unique people engaged by each brand, Brasil led with 218,000, followed by Argentina with 89,000, Colombia with 62,000 and Mexico with 60,000. Twitter had the highest penetration in Argentina and Chile, while Instagram was strongest in Brasil and Colombia.

 

PublisherTotal Actions
(Facebook,
Instagram,
Twitter)
(000)
UniqueEngaged Audience(000)%Actions
(Facebook)
%Actions
(Twitter)
%Actions
(Instagram)
Latin America455, 30448294.58%2.31%3.11%
Brazil192, 74321893.07%0.99%5.95%
Mexico87,6206096.30%2.93%0.77%
Argentina75,8448995.72%4.08%0.20%
Colombia51,5366293.19%3.66%3.15%
Peru33,5673798.32%1.58%0.10%
Chile13,9931694.43%3.90%1.67%
The total actions metric includes post-level likes, shares, favorites, retweets and comments.Unique engaged audience is the number of people who took an action with a page’s content on Facebook.The % actions metric notes the portion of actions (likes, shares, favorites, retweets and comments) attributable to the specified social media platform.

Engagement across platforms

455.3 million was the number of  total actions in the region regarding social media.

  • Facebook accounted for 94.6 % of those actions
  • Instagram followed with 3.1 %
  • Twitter ranked third with 2.3 %

“Consumers in Latin America are highly engaged social media users, providing a unique opportunity to marketers in this region to connect with consumers in a personal yet scalable manner,” said Alejandro Fosk, SVP Latin America at comScore.

 

 

What: IPG Mediabrands will launch Rally, a social media agency,  in Latin America.  
Why it matters: With its own software and processesRally will bring solutions for social media across all platforms and technology to the region. It will roll out in Argentina, Chile, Colombia and Uruguay.

rallyIPG Mediabrands has announced the launch of Rally in Latin America, a social media agency.

Rally, the social media arm of Mediabrands Audience Platform (MAP) , was first established in Asia in 2011. But now it’s being rolled out in Latin American countries including Argentina, Chile, Colombia and Uruguay.

Rally will bring to the Latam advertising market a broad offering of solutions for social media across all platforms and technology, built with its own proprietary software and processes,  including mobile solution capabilities.
 

This includes content, design, campaign planning, and customer relations. In addition, its’ scope extends to analytics and insights for daily monitoring, strategic campaigns as well as world-class crisis management solutions.

Rally will be led by Lucia Parodi in Argentina, Alvaro Morales in Colombia, Natalia Neves in Uruguay and Walter Yenes in Chile; all planning specialists.

Pablo Rodriguez, President, World Markets, Latam at IPG Mediabrands said, “Rally’s unique selling point that sets it apart from its competitors is its focus on social media proprietary tools and its affiliation to a global agency network like Mediabrands.”

“Rally is the only social media agency that combines big data, technology, and content with an RTB solution. We fuse the social strength of Rally with the programmatic buying expertise of Cadreon to generate unsurpassed efficiencies and maximize investments for our clients,” said Marina Mendez, Regional Director, MAP, Latin America.

It currently has operations in nine countries across South East Asia, five offices in Northern Europe headquartered in Denmark, and five offices in Southern Europe headquartered in Portugal and Turkey. With more than 300 dedicated social media professionals, Rally manages over 50 blue-chip clients globally in more than 20 different languages.

jim.gibsonJim Gibson is a seasoned entrepreneur, publisher and certified online marketing professional who speaks regularly at established industry events.

Lately, I’ve been reading a ton of articles that discuss how social media is impacting search. The most common question is whether social networking is changing the way people search for information online? Or more importantly, does the word of mouth (WOM) nature of social media pose a real threat to search in general?

This question is addressed at a high level by Chris Crumm on the WebPro News blog in an article titled: “Social Media will not Replace Search” however the article stops short of addressing the real value of social media for people searching for the right information.

Clearly, search engines dominate the quest for information landscape. Portals such as Yahoo!, MSN and AOL, and subject matter expert (SME) sites like CNET and Wikipedia,  force the remainder of online channels (blogs, Wikipedia & social networks) into more of a relationship-type search category.

Although blogs and social media cover a little bit of the search destinations, the long tail value of the traffic generated from these channels should not be overlooked. A sufficient reason is the capital required entails only some blood, sweat and tears (yeah, tears..or trial and error) – in other words some quality time building relationships and a little elbow grease!

But what makes an even more compelling argument of the inherent value of relationship search is how social media and blogging plays into the typical buying cycle. An often overlooked element of effective online marketing (off line as well), the buying cycle defines the phases consumers go through leading up to the highly coveted conversion.

Whether you are asking visitors to buy your product, sign up for a newsletter or just hang out on your site, there are specific elements of the buying cycle that can be leveraged to facilitate driving your audience to your goal.

The buying cycle generally consists of 5 stages: Interest, Gathering, Research, Exclusion and Purchase. Consumers who are searching first express an interest in a given topic. From there, they begin to gather and research information. The next step is critical to the buying process and, ironically, lends itself well to social networking: the Exclusion phase.

This stage represents where people are learning what they don’t want and relationship channels offer tremendous opportunity through reviews and recommendations from friends who may already know about your products. Never underestimate the value here. Friends asking friends what they think is tantamount to developing a network of product evangelists who sell for you! For Free!

If you have done a good job developing relationships, shedding tons of blood sweat and hopefully less and less tears, social networking (and blogging) actually gets your company to the stage closest to the final purchase phase. Companies pay a lot of money on paid search and countless hours on SEO (both important) in order to lead consumers closer to the conversion phase. But very few ever really think about the opportunities social media creates – or at least, establish a firm justification for engaging in social media in the first place. This hopefully puts an exclamation point rather than a question mark on the oft heard challenge, “what’s the value of social media?”.

In my mind, there is no greater value in a business’ engagement in social media than this important, yet often overlooked, relationship to the consumer buying cycle.

 

(c) Copyright – Jim W. Gibson. All Rights Reserved Worldwide / Article Source: http://EzineArticles.com/?expert=Jim_W_Gibson

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