Marketing Executives: Digital Media Spend Will Overtake Traditional by 2016 – BWWGeeksWorld

Marketing Executives: Digital Media Spend Will Overtake Traditional by 2016 – BWWGeeksWorld.

CINCINNATI, April 22, 2014 /PRNewswire/  More than half of marketing executives expect to spend more on digital media than traditional channels within the next two years, according to a survey from marketing mix optimization solution providerThinkVine.

A quarter of senior-level marketers say that their spending in online display, social, mobile and other digital channels currently exceeds spending on TV, radio, print and other traditional media. Another 31 percent believe their digital budgets will overtake their traditional spend within the next two years.

The ThinkVine survey polled 200 CMOs, marketing vice presidents and directors at companies with less than $100 million[≈ Large city office building] to more than $10 billion [≈ Chernobyl costs, USD at the time] in revenue about their marketing budgets and spending projections.  Most marketers said they are confident that digital spending will eventually exceed traditional spending, with only 3 percent of respondents saying the shift will never happen.

While the trend to digital media is accelerating, ThinkVine CEO Mark Battaglia said brands shouldn’t go “all in” on digital marketing now until they have the information they need to understand the sales impact of that spend.

“Marketers shouldn’t blindly follow the crowd,” he said. “Consumers in general spend more time with digital media, but it’s important for each brand to know how their specific customers consume media and how different media types work together to achieve sales and brand objectives. Companies can’t take a one-size-fits-all approach to their marketing mix.”

The survey found that an additional 15 percent of marketers anticipate investing more in digital than traditional channels this year and 16 percent of this group expects the shift to happen next year. Another 24 percent think digital will exceed traditional in two to five years, and 8 percent say it will happen in five years or more. Just 11 percent don’t expect digital to surpass traditional in the foreseeable future.

Other findings from the survey include:

  • The insurance, entertainment, finance and technology industries are leading the way in digital adoption. At least35 percent of marketers from these industries report that they already dedicate half or more of their budget to digital (40 percent for insurance, 38 percent for entertainment, 36 percent for finance and 35 percent for technology).
  • Thirty-six percent of companies with $1 billion [≈ box office sales of The Exorcist, 1973] or more in revenue have already seen digital spending outpace traditional or expect to see the shift within the next year. By contrast, 9 percent of companies with less than $100 million [≈ Large city office building] in revenue don’t expect this shift to occur.
  • Depending on the channel, one-fifth to one-quarter of marketers said that their ability to determine historic ROI by channel for digital display, search, social media and mobile was “excellent.” By contrast, one-third rated their ability as either “fair” or “poor.”

 

“The survey results show that most marketers are moving budgets to digital channels before they have all the information they’d like to have,” said Battaglia. “They told us that they rely more on factors like experience, perceived current performance, and historical spending and trends than tracking and model-driven analytics. As a result, there is still an opportunity for marketers to improve results and gain a competitive advantage by using data and analytics in new ways across the marketing mix.”

A full report on the survey results will be published in May. For more information, visit http://www.thinkvine.com.

About ThinkVine

ThinkVine Marketing Mix Optimization software provides marketers with data-driven, forward-looking insights to hone their marketing mix and improve return on investment. Designed for B2C marketers, ThinkVine’s solution delivers a 28 percent average increase in marketing-driven sales by enabling better strategic decisions about tactics, timing and spending levels across all segments. Combining historical, category, demographic and media consumption data, ThinkVine creates a custom, virtual marketplace that simulates how targeted consumers will respond to combinations of marketing activities over time. The ThinkVine software delivers rich historical insights and better short- and long-term forecasts of ROI and sales, as well as support for an agile, objective ongoing planning process – all with 98 percent accuracy. More information on the software is available atwww.thinkvine.com.

SOURCE ThinkVine

Havas Media dévoile sa Data Room: 2MV Data Consulting

Véritable Data Room au cœur de l’activité d’Havas Media, 2MV (Media & Marketing Value) Data Consulting proposera une offre inédite de prestations à valeur ajoutée immédiate basée sur l’analyse intelligente et opérationnelle de la data, au bénéfice d’une meilleure efficacité des stratégies de communication.

L’équipe de 2MV Data Consulting aura en charge l’analyse des données agrégées et individuelles, pour délivrer des traitements, des tableaux de bord et des modélisations. L’ensemble de ces solutions est la base indispensable à la production d’enseignements (insights) et de conseils que délivre la structure.
Concrètement, des DMP (Data Management Platform) développés par le groupe regroupent à un endroit unique et sécurisé toutes les données de ses clients : média, concurrence, digital ad & site centric, social engagement, business et ventes, consommateurs, CRM, … Artemis, l’outil propriétaire d’Havas, offre aux clients la possibilité de gérer en temps réel leurs investissements marketing au travers d’accès directs online. Résolument orienté résultat, Artemis est le trait d’union entre toutes les activités online et offline de l’annonceur pour être la première brique du ‘programmatic marketing’.
2MV Data Consulting développe également une offre complète de solutions de segmentation. Le département propose ainsi des solutions simples d’intégration de cibles marketing ou acheteuses dans les outils de media-planning, de typologies socio-style opérationnelles, à des segmentations ad-hoc sur des bases de données clients en y intégrant des scorings de potentiel business.
La nouvelle entité propose enfin au marché des études sur les apports de la data pour une meilleure connaissance des interactions media et les impacts sur les modes de consommation. A ce titre, 2MV Data Consulting travaille depuis plus de 10 mois en partenariat avec Tevizz sur la première étude Belge liant les performances des émissions TV et leurs interactions sur les réseaux sociaux, baptisée SRP (Social Rating Point). Elle développe également les études P.O.E., Meaningful Brands et Multi-Media Screen (MMS) d’Havas Media.
2MV Data Consulting est placée sous la responsabilité de Corinne Verstraete (Head of Strategy & Insights d’Havas Media). Corinne s’est entourée depuis près d’un an d’une équipe de 6 spécialistes expérimentés dans la collecte, la mise en forme et l’analyse des données. Lancée en mars 2013 et forte de très nombreux projets, 2MV Data Consulting France sera un soutien effectif à l’opération Belge.
Corinne Verstraete : « 2MV Data Consulting est la concrétisation de deux années de rationalisation et de renforcement du département ‘recherche et études’ d’Havas Media. Totalement opérationnelle grâce à son équipe pluridisciplinaire et expérimentée, elle est la réponse concrète aux défis que nous proposent quotidiennement nos clients en matière de compréhension et d’actionnabilité des données et insights. Je me réjouis de porter ce projet avec Frédéric Watelet, Quentin Huyberechts, Sophie Alderweireldt, Jessica Michotte et Audrey Forstneric. »
Pour en savoir plus, décrouvrez notre vidéo sur Youtube : https://www.youtube.com/watch?v=yoNB7S0VBbs

Contact Havas Media Brussels
Hugues Rey
Chief Executive Officer
Tel: +32 2 349 15 60 – Mobile Tel: +32 496 26 06 88
hugues.rey@havasmedia.com
Rue du Trône 60/bte 5 – 1050 Bruxelles

Contact 2MV Data Consulting
Corinne Verstraete
Head of Strategy & Insights

Tel: +32 2 554 08 86 – Mobile Tel: +32 497 54 30 65
Corinne.verstraete@havasmedia.com
Rue du Trône 60/bte 5 – 1050 Bruxelles

A propos de Havas Media
Havas Media est la division media du Groupe Havas. Havas Media est présent dans 126 pays avec 5600 collaborateurs. Havas Media Brussels compte 65 collaborateurs couvrant tous les aspects de l’utilisation des médias (offline et online) dans les actions publicitaires.

Big Data & Marketing – Perfect Match (Terradata Infographic)

Big Data & Marketing - Perfect Match (Terradata Infographic)

Dans l’infographie présentée ci-dessous, Teradata montre que les professionnels du marketing dépendent de plus en plus de la donnée. Ils sont 75% à utiliser les données clients issues du CRM comme par exemple la satisfaction, les interactions (search, display, email, navigation…), les données socio-démographiques, l’historique de ventes… -

The Seven Success Factors of Social Business Strategy [INFOGRAPHIC] | Vala Afshar

The Seven Success Factors of Social Business Strategy [INFOGRAPHIC] | Vala Afshar.

Vala Afshar

2013-07-30-57797Infographic.jpg

Houston, we have a problem – a social business strategy problem.

The era of social networking started in the early 2000s with the launch of Friendster. In fact we can argue that there were renditions of social networking even before that –from Bulletin Board Systems (BBS) to CompuServe, Prodigy, and AOL. Yet even though we have had some form of social networking since the advent of the networked ecosystem, most companies today are still challenged with successful social business transformational initiatives.

A recent survey by Altimeter of nearly 700 social media professionals yielded that:

  • Only 34% of businesses feel that their social strategy is connected to business outcomes.
  • Just 28% of companies feel that they have a holistic approach to social media, where lines of business and business functions work together under a common vision.
  • A mere 12% are confident they have a plan that looks beyond the next year.
  • Only half said that top executives were “informed, engaged and aligned with their companies’ social strategy.”


As a CMO and an active user of social media, I am stumped at how the industry still treats social as an experiment. Majority of businesses using social media today have few clear connections between their social activities and business goals. Social media metrics, if they exist, focus instead on engagement activity metrics like ‘likes’ and ‘follows’ and not the actual business value creation like revenue, brand reputation or cost reduction.

Another trait commonly observed in the industry is that most social media strategists focus solely on the external social media. What is missing is a holistic strategy that incorporates both external and internal facets and focuses on translating business objectives into socially adept interactions.

Time is now to get serious about social and this is precisely what authors and technology analysts Charlene Li and Brian Solis have addressed in their latest publication, “The Seven Success Factors of Social Business Strategy“. The e-book focuses on factors that enable executives and strategists all across to develop and execute on a holistic social business strategy.

The e-book is an easy and insightful read that provides practical advice. You will learn how to define your social strategy, gain alignment across the business, and use said strategy to support business goals. Li and Solis also focus their findings and recommendations on how to convince and rally decision makers at the executive level, with both considered practices and mistakes to avoid.

Without further ado, here are the 7 key factors that impact the success of your social business strategy.

1) Define business goals

Figure out your business objectives. It is imperative that your strategy be built around your business goals. Starting off on the right foot means defining goals up front and ensuring that stakeholders at different levels and across departments are aligned towards those goals.

The second step is to define key performance indicators (KPIs) and metrics that go beyond engagement data sets. For example, take likes, comments, re-tweets, reach, views and the alike, and map these to tangible business outcomes such as revenue generation, brand reputation and cost savings.

Bonus points for teams that can start correlating sentiment and share of voice in social media against business impact on revenue, support and retention.


2) Establish a long-term vision

There is tremendous advantage in knowing where we are going. It’s not just enough to have goals in place; you also need to have a long term vision that communicates to everyone within the organization on why this journey is taking place and the value it brings.

It is imperative to define this vision for future employees, customers, and partner relationships and social experiences that will come about as a result of this holistic strategy. It provides a direction and a purpose to every stakeholder. In order to establish a vision,social executives must understand their role in a social business.


3) Ensure executive alignment and support

Executive support is imperative to the establishment and on-going execution of a social business strategy. Social often exists in its own marketing silo. But at some point, business collaboration must extend beyond marketing or social customer care and pervasively reach throughout the entire ecosystem. When every voice is heard in the seams of the organizational fabric, you have achieved a holistic adoption of social. Executive sponsorship is necessary to do this, and to also align collaboration with tangible business objectives.

Additionally, speaking the language that matters to executives is the only way to ensuring program support, therefore allowing sustainable budget and resources to scale social within the organization. I recently wrote about the importance of social executive support.


4) Define the strategy roadmap and associated initiatives

Once you have your vision and you are in alignment on your business goals, you need a detailed plan that outlines each step required to build your social business. Ideally, it should outline the next 3 years with focus on initiatives that one can execute in a proficient manner immediately, along with prioritization based on business value.


5) Establish governance and guidelines

Develop one coherent social governance model that outlines and defines stakeholders that are responsible for the strategy, management and development of an infrastructure to support your social business strategy.

Ideally, a corporate hub is established by the social media strategist with representation from each business unit to initiate enterprise priorities, guidelines and processes along with specific roles and responsibilities. One should also invest in formation of a Social Media Center of Excellence (CoE) which ensures a systematic strategy and allows sustainable scalability across the organization.


6) Secure staff, resources and funding

The most important aspect of a successful social business strategy is talent. It is important to get the right people with the right mindset onto the core team to make this work. Determine where resources are best applied in the present and the future. Ideally, your corporate strategist and their teams should have proficient background in dealing with emergent technologies and approaches.

Think deep about your strategic relationships across your agency, vendor and partner networks. It is recommended and perfectly fine to rely on capable external partners in the initial phases when marketing efforts are being amplified and internal skills are limited.

As a CMO, I am more interested in my talent’s ability to adapt and forecast the future working models than their ability to sell me their traditional past successes. Invest in the ability to train your staff on vision, purpose and business value creation along with an appropriate metrics/reporting structure to ensure a uniform approach across the business.


7) Invest in technology platforms that evolve

Avoid the shiny object syndrome that is often seen in marketing departments all across the industry. Avoid new technologies and investment in the latest tactics prior to having a coherent and a holistic social business strategy, roadmap and alignment in place. Often times, technology choices of yesteryear don’t scale well into the future state of a social business. Smart executives and strategists always pick technology last.


One way of tackling this issue is to align with technology vendors who share their product roadmaps with you so that one can easily evaluate if they will meet your organization’s future state.

Enterprise social is often misunderstood by the masses as an easy, simple, in the moment kind of an activity. Fortunately for us, Solis and Li have done a great job in explaining the intricacies of enterprise social business and provide a heartfelt read on tackling the issues that we are all facing in this industry.

In the noisy world of social media publications, this is a refreshing and an informative read. I highly recommend that all business executives, especially CEOs, CMOs, CHROs, CCOs, and CIOs to consider reading “The Seven Success Factors of Social Business Strategy“.