tag:www.econsultancy.com,2008:/topics/facebook Latest Facebook content from Econsultancy 2016-10-21T14:44:04+01:00 tag:www.econsultancy.com,2008:BlogPost/68438 2016-10-21T14:44:04+01:00 2016-10-21T14:44:04+01:00 All the digital news stories you missed this week David Moth <p>First up…</p> <h3>Facebook’s news algorithm still has bugs</h3> <p>An investigation <a href="https://www.washingtonpost.com/news/the-intersect/wp/2016/10/12/facebook-has-repeatedly-trended-fake-news-since-firing-its-human-editors/?tid=sm_fb">by the Washington Post</a> has found that Facebook’s Trending topics algorithm is still being duped by fake news stories.</p> <p>A few months ago Facebook got rid of its editorial team and put its Trending topics in the hands of an algorithm, which subsequently promoted a fake story about news reporter Megyn Kelly.</p> <p>Between August 31 and September 22 the Post monitored all of Facebook’s Trending topics to see whether the error occurred again.</p> <p>During that time it noted five trending articles that were definitely fake and three that were ‘profoundly innaccurate’.</p> <h3>China now top market for the App Store</h3> <p>According to <a href="https://www.appannie.com/insights/market-data/q3-2016-index-china-hits-ios-app-store-milestone/">App Annie</a>, China has overtaken the US to become the most lucrative market for App Store revenue.</p> <p>In Q3 the Chinese spent a record $1.7bn in the App Store, 15%+ more than the US.</p> <p>While revenue from games accounts for the majority of revenue generated in China, other categories like entertainment and social networking are also growing and have more than tripled in the past year.</p> <p><img src="https://assets.econsultancy.com/images/0008/0594/app_annie.png" alt="" width="593" height="413"></p> <h3>ASOS loves Snapchat</h3> <p>During its half-year earnings call this week ASOS revealed that 'Snapchat is an increasingly important channel for our customers.'</p> <p>During Fashion Week the brand's content was viewed more than 20m times as part of the 'Fashion Week Stories' series.</p> <p>The earnings call covered half-year results up to 29 February 2016. Other key numbers include:</p> <ul> <li>60% of traffic and 50% of purchases came from mobile in February.</li> <li>Group revenue is up 21% to £667.3m.</li> <li>17% growth in active customers to 10.9m.</li> <li>Pre-tax profits increased 18% to £21.2m.</li> </ul> <p><a href="http://uk.businessinsider.com/asos-interim-results-snapchat-increasingly-important-2016-4">Business Insider has more</a>.</p> <h3>Uber's 40m MAUs</h3> <p>Uber founder Travis Kalanick revealed this week that the app has 40m monthly active users.</p> <p>Each of these active users spends around $50 per month.</p> <p>Read more over on <a href="https://techcrunch.com/2016/10/19/travis-kalanick-says-uber-has-40-million-monthly-active-riders/">TechCrunch</a>.</p> <h3>Google to roll out click-to-message ads</h3> <p>Google confirmed this week that it will soon be rolling out a 'click-to-message' button on mobile search ads.</p> <p>The ad extension will initially enable users to send SMS messages to advertisers, but it's not difficult to see it being rolled out to apps like WhatsApp in future.</p> <p><img src="https://assets.econsultancy.com/images/0008/0596/click_to_message.jpg" alt="" width="579" height="384"></p> <p>Head over to <a href="http://venturebeat.com/2016/10/18/google-click-to-message-ads/">VentureBeat for more</a>.</p> <h3>Netflix beats predictions</h3> <p><a href="http://www.bbc.co.uk/news/business-37685842">Netflix added 3.2m international customers in Q3</a>, far more than the 2m being predicted by analysts.</p> <p>Quarterly revenues increased by 31% to $2.29bn, leading to a 20% jump in its share price to around $119.</p> <p>In total Netflix now has just over 83m subscribers.</p> <p>The company also said that it plans to licence its content to existing streaming services in China, rather than operating its own service.</p> <h3>LinkedIn tweaks its Endorsements </h3> <p>I don't know about you, but my favourite thing about LinkedIn is the ability to spam my friends with pointless endorsements.</p> <p>But after recognising that perhaps its endorsements aren't all that meaningful, <a href="https://techcrunch.com/2016/10/19/linkedin-re-endorses-endorsements-with-relevance-and-targeting-features/">LinkedIn has decided to alter the way they work</a>.</p> <p>LinkedIn will now implement machine learning algorithms to surface endorsements that are relevant to the person viewing your profile.</p> <p>Endorsements will also feature targeting, so when you want someone to verify a particular skill, LinkedIn will send the request to a person that is most likely to fulfil it. </p> tag:www.econsultancy.com,2008:BlogPost/68403 2016-10-19T14:12:50+01:00 2016-10-19T14:12:50+01:00 Pharma company Novartis taps Facebook Live event to promote heart failure drugs Patricio Robles <p>Take for instance Novartis, which teamed up with the American Heart Association and actress/singer Queen Latifah as part of their <em>Rise Above Heart Failure</em> initiative.</p> <p>Queen Latifah's mother, Rita Owens, experienced heart failure 10 years ago, prompting lifestyle changes that have enabled her to manage her condition, and inspiring her daughter to get involved with helping others who are dealing with heart failure or supporting a family member who is.<br></p> <h3>A better way to tell a story</h3> <p>The <em>Rise Above Heart Failure </em>initiative, which includes events, media outreach and digital content distributed on the American Heart Association's <a href="http://www.heart.org/HEARTORG/Conditions/HeartFailure/LivingWithHeartFailureAndAdvancedHF/Rise-Above-Heart-Failure-Queen-Latifahs-Story_UCM_477792_Article.jsp">website</a> and through social media, was a natural fit for Novartis.</p> <p>The company is behind Entresto, a heart failure drug that was approved by the FDA in 2015, and while it hasn't yet produced the sales expected, possibly due to its price tag, Novartis will have spent hundreds of millions of dollars on marketing and development.</p> <p>Initially, some of its marketing of Entresto drew significant criticism.</p> <p>As FiercePharma's Beth Snyder Bulik <a href="http://www.fiercepharma.com/pharma/novartis-sponsor-queen-latifah-push-for-heart-failure-awareness-inspired-by-her-mom">detailed</a>, Novartis's first attempt at direct-to-consumer ads for Entresto "sparked protests from cardiologists and consumers for its stark depiction equating heart failure to a room filling with water while a patient calmly reads the paper."</p> <p>That ad was pulled in the face of the criticism.</p> <p>Aligning itself with the <em>Rise Above Heart Failure</em> initiative is a much more positive undertaking, and gives Novartis the opportunity to engage in <a href="https://econsultancy.com/blog/67747-pharma-marketers-should-use-storytelling-to-improve-the-industry-s-reputation/">storytelling</a> using digital channels.</p> <p>Interestingly, one of those channels is Facebook Live, which was used to broadcast a live panel discussion on World Heart Day that featured Queen Latifah and medical doctor Karol E. Watson, a professor of medicine/cardiology and the co-director of the UCLA Program in Preventive Cardiology.</p> <p><img src="https://assets.econsultancy.com/images/0008/0425/Screen_Shot_2016-10-17_at_17.13.28.png" alt="" width="500" height="453"></p> <p>Nearly 1,000 people tuned in to <a href="https://www.facebook.com/events/1659479787696400/">the event</a> on Facebook Live, which Queen Latifah hoped would help others who have dealt with heart failure.</p> <p>"I really just want the millions of Americans who are touched by heart failure to share their story – and their 'red steps’ – and to speak up about the condition," she said in <a href="http://newsroom.heart.org/news/on-world-heart-day-american-heart-association-recognizes-role-of-patient-provider-relationships-in-managing-heart-failure">a press release</a>.</p> <p>According to Novartis spokesperson...</p> <blockquote> <p>We were drawn by the potential of Facebook Live to reach a wide audience in real time, to facilitate live engagement, and to allow on-demand viewing.</p> </blockquote> <p>The company, which expects Entresto sales to hit $200m this year, obviously can't rely exclusively on sponsorship of Facebook Live events to spread the word about its drugs.</p> <p>But <em>Rise Above Heart Failure</em> shows how pharma companies can facilitate and be a part of more meaningful discussions that are personal, emotional and provide tangible value to consumers.</p> tag:www.econsultancy.com,2008:Report/4273 2016-10-17T03:00:00+01:00 2016-10-17T03:00:00+01:00 Social Media Strategy Asia Pacific Best Practice Guide <p>One of the most popular areas of digital is social media. The vast majority of internet users have at least one social media account and the main social platforms boast hundreds of millions of daily users.</p> <p>Over the last few years, though, social media has also started to have a strong influence on organisations. Social media has changed how people work, how they communicate and the relationship that they have with their customers.</p> <p>Adding to this, social media is evolving at a blistering pace. New considerations for social media strategists include: paid ad formats, new visual and video formats, buy buttons, private messaging, social servicing, the quantified self and the Internet of Things.</p> <p>Because social media touches so many areas of an organisation, however, getting it 'right' in spite of all these changes has never been more important.</p> <p>This report follows on from Econsultancy's <strong>Social Media Strategy Best Practice Guide</strong>, published in June 2016, and has been updated with information for marketers who are either based in Asia Pacific (APAC) or responsible for marketing in the region. </p> <p>APAC consists of a wide variety of countries, including such diverse markets as Japan, China, India, Australia and other Southeast Asian countries. The reason for a special report on the region is that, taken as a whole, APAC accounts for more than half of all social media users worldwide and has many of the world's fastest growing economies. Its size and potential for growth has made APAC a very attractive target for brands over the past decade.</p> <h2>This report will enable you to:</h2> <ul> <li>Establish a framework for social media strategy</li> <li>Rethink how brands are managed</li> <li>Review company structure</li> <li>Carefully plan social media strategy</li> <li>Execute within regional constraints</li> <li>Provide measurement</li> </ul> tag:www.econsultancy.com,2008:BlogPost/68415 2016-10-14T11:26:53+01:00 2016-10-14T11:26:53+01:00 The low-down on Facebook Marketplace: Is it any good? Nikki Gilliland <p><img src="https://assets.econsultancy.com/images/0008/0303/notification.PNG" alt="" width="640" height="219"></p> <p>While people have been buying and selling on the platform for a while, the activity previously took place within separate Facebook Groups. </p> <p>Now aiming to streamline the process, as well as open up items to millions more users, Facebook is hoping its marketplace will rival the likes of Craigslist and eBay.</p> <p>So, is it any good?</p> <p>And more to the point, will anyone actually use it?</p> <p>Here’s a closer look.</p> <h3>How does it work?</h3> <p>The premise of Facebook Marketplace is pretty simple, and like the rest of the app, it is pretty easy to use.</p> <p>If your location service is enabled, on entering the marketplace you will automatically be shown what people are selling nearest to you.</p> <p><img src="https://assets.econsultancy.com/images/0008/0306/buy_and_sell.PNG" alt="" width="300"></p> <p>The top header is split into sell, categories, search and 'your items' - where you can view anything you have bid on or are selling.</p> <p>The amount of categories is quite vast, with everything from bikes to books on offer.</p> <p>There's even a classifieds section for housing.</p> <p><img src="https://assets.econsultancy.com/images/0008/0307/categories.PNG" alt="" width="300"></p> <p>Since the launch of the app, there's been a lot in the press about people using the app to sell drugs and other dodgy stuff.</p> <p>While I've not come across anything too bad, I have seen a few strange items, including the recent trend of selling the new £5 note.</p> <p><img src="https://assets.econsultancy.com/images/0008/0308/five_pounds.PNG" alt="" width="300"></p> <p>If anything, this just shows how easy the feature is to use.</p> <p>It only takes a few minutes to set up an item to sell, so, naturally people are also using it as a solution for their own boredom.</p> <h3>How easy is it to buy and sell?</h3> <p>To find out just how simple it is, I decided to sell a rather charming backgammon set.</p> <p>I managed to post it within the space of about two minutes.</p> <p>I took a snap, included a description as well as my location, and that was that. As easy as updating your status or posting a photo.</p> <p><img src="https://assets.econsultancy.com/images/0008/0309/selling.PNG" alt="" width="250"> <img src="https://assets.econsultancy.com/images/0008/0310/ted_baker_set.PNG" alt="" width="250"></p> <p>Nobody has responded just yet, though I can see how many people have viewed the item. </p> <p>Buying - or at least bidding on something - is just as easy.</p> <p>Clicking onto any item, you are met with the seller's location as well as a very basic profile.</p> <p>Here you can ask questions about the sale or place a bid.</p> <p><img src="https://assets.econsultancy.com/images/0008/0311/location.PNG" alt="" width="250"> <img src="https://assets.econsultancy.com/images/0008/0312/profile.PNG" alt="" width="250"></p> <p>At this point, it is entirely left up to the buyer and seller to negotiate the final details.</p> <p>There is no involvement from Facebook about how you pay or collect the items, meaning the process involves quite a bit of negotiation in Messenger.</p> <p><img src="https://assets.econsultancy.com/images/0008/0313/notifications.PNG" alt="" width="300"></p> <h3>Will people use it?</h3> <p>As well as issues relating to privacy and safety, the main issue about Facebook Marketplace is whether people will actually follow through with purchases.</p> <p>Without an in-built payment feature, users are more likely to abandon items. </p> <p>Having this option would also encourage more spontaneous buying as well as take away the negotiation aspect.</p> <p>Without it, the experience has the potential to become frustrating and less than clear-cut.</p> <p>Another feature it could definitely do with is some sort of review system.</p> <p>As it stands, users can only see what items a person is selling - there is no indication of how successful or reliable they actually are.</p> <p>On the flip side, there is also nothing to reassure sellers that a potential buyer is not leading them on.</p> <p>All in all, it feels like a bit of a gamble.</p> <h3>In conclusion...</h3> <p>If Facebook figures out the aforementioned issues, Facebook Marketplace has great potential to disrupt the likes of Craiglist and eBay.</p> <p>The real-time element, combined with the unbeatable convenience of living inside the app itself, means that it could easily become the first port of call for buying and selling locally.</p> <p>Until then, you know where to go if you're in the market for a £5 note.</p> tag:www.econsultancy.com,2008:BlogPost/68398 2016-10-12T14:23:56+01:00 2016-10-12T14:23:56+01:00 JPMorgan Chase taps influencer family for how-to videos Patricio Robles <p>The Holderness Family became online stars when their Christmas Jammies holiday music video went viral in 2013, racking up more than 16m views on YouTube.</p> <p>Today, the husband and wife team, along with their two children, have nearly 195,000 YouTube subscribers and their videos have generated more than 66m views.</p> <p>Chase chose to tap the Holderness Family for its "Banking that rocks" video series because it felt it needed to do something different. </p> <p>"These videos are hilarious and people will have fun watching them, but they also help us solve a business problem," Kristin Lemkau, Chase's CMO, <a href="http://adage.com/article/cmo-strategy/spot/306150/">told</a> AdAge.</p> <blockquote> <p>We knew we had to do something different to show people how [to do things themselves]. We didn't want to do a boring animation.</p> </blockquote> <p>The videos the Holderness Family created for Chase, three of which have been published, highlight for Chase customers how they can use online banking, the Chase mobile app, and Chase ATMs to "bank on the go."</p> <h3>A viable part of the content marketing mix?</h3> <p>While <a href="https://econsultancy.com/blog/68338-goldman-sachs-creates-in-house-content-studio/">financial services firms are increasingly investing in content marketing</a>, the companies tapping influencers the most still tend to be in industries like <a href="https://econsultancy.com/blog/67443-eight-influencer-marketing-stats-for-fashion-beauty-brands/">fashion and beauty</a>.</p> <p>While there are numerous <a href="https://econsultancy.com/blog/67555-the-three-biggest-challenges-in-influencer-marketing/">challenges associated with influencer marketing</a>, and there <a href="https://econsultancy.com/blog/67147-has-essena-o-neill-signalled-the-end-of-influencer-marketing">has been some scandal</a>, influencer marketing has firmly established itself as a part of the marketing mix in these industries.</p> <p>Can it do the same for financial services?</p> <p>That remains to be seen. The Holderness Family published its "Rock My Banking" Chase video to YouTube, where it currently has just over 10,000 views.</p> <p>While that's in line with many of the videos it has posted in the same time period, it's far from a viral hit. On Facebook, The Holderness Family published a post promoting the YouTube video.</p> <p>Despite the fact that the family's Facebook Page has nearly 650,000 likes, the Chase post only has 18 shares.</p> <p><iframe src="https://www.youtube.com/embed/lCEPzYbnZeE?wmode=transparent" width="560" height="315"></iframe></p> <p>But that doesn't necessarily mean that Chase's efforts with The Holderness Family aren't of value.</p> <p>While many companies turn to influencers for pure marketing distribution purposes, brands can also benefit from <a href="https://econsultancy.com/reports/influencing-the-influencers-the-magic-of-co-created-content">co-creation</a> even when it doesn't generate viral hits.</p> <p>That's because effective content marketing requires quality content that connects with a target audience.</p> <p>If banks like Chase can work with influencers like the Holderness Family to produce content that is more creative and appealing than they could create on their own, the relationship doesn't need to produce millions of views to be worthwhile, especially if the content has a long shelf-life, as is the case with Chase's how-to videos.</p> <p><em>For more on this, see:</em></p> <ul> <li><a href="https://econsultancy.com/training/courses/topics/content-marketing-and-strategy"><em>Content marketing training courses</em></a></li> <li><a href="https://econsultancy.com/reports/the-future-of-content-marketing/"><em>The Future of Content Marketing Report</em></a></li> <li><a href="https://econsultancy.com/reports/digital-transformation-in-the-financial-services-sector-2016/"><em>Digital Transformation in the Financial Services Sector</em></a></li> </ul> tag:www.econsultancy.com,2008:BlogPost/68363 2016-10-11T11:00:11+01:00 2016-10-11T11:00:11+01:00 Will messaging apps be the next walled gardens? Patricio Robles <p>Case in point: <a href="https://econsultancy.com/blog/66486-stats-the-growing-and-enduring-appeal-of-messaging-apps/">messaging apps</a>.</p> <p>These are some of the most prolific drivers of <a href="https://econsultancy.com/blog/67536-three-dark-social-channels-with-a-billion-active-users-how-to-use-them/">dark social</a> content sharing and referrals, but increasingly messaging apps are building functionality that could force marketers to engage with users in-app.</p> <p>For example, <a href="https://econsultancy.com/blog/65047-tencent-and-wechat-35-facts-figures-on-the-chinese-tech-giant/">Tencent-owned WeChat</a>, one of the most popular messaging apps in China with more than 800m monthly active users, is <a href="http://www.wsj.com/articles/tencent-tries-out-a-stickier-wechat-1475086017">currently testing</a> a featured called Xiaochengxu, which translates to "little program."</p> <p>Xiaochengxu is a development platform for third-parties to build apps that operate within the WeChat app, effectively turning WeChat into an operating system of sorts.</p> <p>As Forrester analyst Wang Xiaofeng told The Wall Street Journal:</p> <blockquote> <p>With everybody coming in to launch Xiaochengxu, WeChat will be much more than an app. It will become the entry point of the Chinese mobile internet.</p> </blockquote> <p>Currently, numerous companies, such as China's Didi Chuxing ride hailing service, have integrations with WeChat, but those link out to their own sites from within WeChat.</p> <p>Xiaochengxu could change that, ensuring that users never leave WeChat. </p> <p>Hong Bo, a marketing consultant, says that's WeChat's goal. "The Chinese internet will be WeChat and others," he predicts.</p> <p>Already, some entrepreneurs and developers are expressing interest in Xiaochengxu, noting that being able to tap into WeChat's user base could be beneficial and reduce their user acquisition costs.</p> <p>Others, however, believe it's "scary" that an app like WeChat could become the ultimate walled garden in which users spend all their time.</p> <h3>A sign of things to come?</h3> <p>Since the Chinese market for messaging apps is seen as leading Western markets, WeChat's Xiaochengxu experiment is worth noting, as it could offer a glimpse of a trend that will eventually come to Western messaging apps.</p> <p>Last year, Viber, which Japanese ecommerce giant Rakuten purchased for $900m in 2014, launched Viber Games globally.</p> <p>Viber Games offers users a catalog of games that they can play from within the Viber app. Viber is popular internationally, and it's worth noting that games are often one of the application types that are used to plant a walled garden.</p> <p>For instance, when Facebook, which is the biggest walled garden on the internet, first launched its developer platform, many of the first Facebook apps that gained traction were games.</p> <p>It's also no surprise that Facebook is looking to extend its walled garden to its Messenger app through <a href="https://econsultancy.com/blog/68184-domino-s-introduces-dom-the-pizza-bot-for-facebook-messenger/">bots</a>, <a href="http://newsroom.fb.com/news/2015/03/send-money-to-friends-in-messenger/">money transfers</a> and <a href="https://econsultancy.com/blog/66234-is-facebook-about-to-open-messenger-to-content-producers-brands/">third-party integrations</a>.</p> <p>It may also <a href="https://blog.whatsapp.com/615/Making-WhatsApp-free-and-more-useful">be planning</a> to build another walled garden with WhatsApp, the messaging app <a href="https://econsultancy.com/blog/64383-why-facebook-bought-whatsapp/">it purchased</a> in 2014 for more than $16bn.</p> <h3>Walled gardens everywhere</h3> <p>While brands might be comfortable with the idea that messaging apps will become walled gardens – they are after all a part of the broader social market – the reality is that walled gardens seem to be growing eveywhere. </p> <p>As Scott Eagle, the COO of 12 Digit Marketing, <a href="https://www.internetretailer.com/commentary/2016/10/06/new-generation-digital-walled-gardens-coming">detailed</a> in a post on InternetRetailer, major retailers and cable companies are also building walled gardens of their own, raising the specter of a day when brand marketers will have to be comfortable with the idea that it's somebody else's internet and they're just living in it.</p> tag:www.econsultancy.com,2008:BlogPost/68339 2016-10-04T15:19:07+01:00 2016-10-04T15:19:07+01:00 Will marketers be automated out of a job? Patricio Robles <h3>Hello, Watson</h3> <p>In 2014, IBM is estimated to have spent $53m on digital display ads.</p> <p>Earlier this year, it was revealed that the company had been experimenting with Watson, its cognitive computing platform, to see if it could help Big Blue better manage its online ad buys.</p> <p>After nearly a year of testing, <a href="http://adage.com/article/digital/ibm-s-watson-programmatic-yielding-big-returns-ibm/304946/">it had an answer</a>: yes, it can, and pretty darn well.</p> <p>'Cognitive bid optimization', as IBM calls it, reduced the company's average cost per click by 35%, and by as much as 71%. </p> <p>Even fractions of dollars and cents "really matters to us," IBM's VP of marketing analytics, Ari Sheinkin, explained, "because of the volume and the dollars involved."</p> <p>Given the potential for savings, IBM decided to hand over all of its programmatic campaigns to Watson by the end of this year.</p> <h3>Einstein gets into the act</h3> <p>Watson is named after IBM's first CEO, Thomas J. Watson, and CRM platform provider Salesforce named its recently announced AI platform after a pretty smart guy too, Albert Einstein.</p> <p>Einstein, which Salesforce bills as "AI for Everyone," aims to make "Salesforce the world's smartest CRM" by "enabling any company to deliver smarter, personalized and more predictive customer experiences."</p> <p>The technology is being applied to all of Salesforce's Clouds, including Sales Cloud, Service Cloud, and Marketing and Analytics Cloud.</p> <p>Marketing Cloud Einstein, for instance, <a href="https://www.salesforce.com/blog/2016/09/intelligent-marketing-and-analytics-salesforce-einstein.html">will offer</a> predictive scoring, predictive audiences and automated send-time optimization.</p> <ul> <li>Predictive scoring "gauge[s] how likely it is that customers will engage with an email, unsubscribe from an email list, or make a web purchase.</li> <li>Predictive audiences builds segments of audiences who share common predicted behaviors.</li> <li>Automated send-time optimization delivers a message when recipients are deemed most likely to engage.</li> </ul> <h3>Wither the marketer?</h3> <p>While Salesforce is pitching Einstein as a way to make its staff, including marketers, more effective, some are starting to ask if the days are numbered for many marketers.</p> <p>It's a somewhat complicated and sensitive discussion for obvious reasons.</p> <p>A strong argument can be made that marketers aren't going anywhere. After all, as Marketing Land's Barry Levine suggests, "the marketer is the liaison with reality."</p> <p>There are still a lot of areas in the marketing process in which human involvement is required and/or desirable.</p> <p>For example, banner ads and emails don't design and write themselves, and there are always "black swan" events that humans will need to respond to, at least for the foreseeable future.</p> <p>There is also the ever-important strategic layer of marketing that can't be distilled into a science. </p> <p>But that doesn't mean that the role of marketers won't change, or that marketing jobs won't disappear.</p> <h3>Thanks, programmatic</h3> <p>With more and more digital ad dollars being spend through <a href="https://econsultancy.com/blog/68323-getting-started-with-programmatic-here-are-some-tips-from-the-experts/">programmatic</a> channels, the online ad market today is looking more and more like a stock exchange.</p> <p>Years ago, the trading floors of stock exchanges were filled with traders.</p> <p>Today, many are practically empty. Part of that is the result of the 2008 financial crisis, but part of it is the fact that the world needs fewer traders thanks to technology. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Living in the next CT town, sad to see what's become of once-largest trading floor in world <a href="https://twitter.com/UBS">@UBS</a> <a href="https://twitter.com/biancoresearch">@biancoresearch</a> <a href="https://t.co/XKYkBO8Q6C">pic.twitter.com/XKYkBO8Q6C</a></p> — Liz Ann Sonders (@LizAnnSonders) <a href="https://twitter.com/LizAnnSonders/status/772562669559840769">September 4, 2016</a> </blockquote> <p>As programmatic continues <a href="https://www.emarketer.com/Article/Mobile-Fueling-Higher-than-Expected-Growth-of-Programmatic-Ads/1014521">to take over</a>, there will be greater opportunity for businesses to hand over the reigns to computers like Watson and that will obviously have an impact on many marketers' jobs.</p> <p>In some cases, it could even eliminate them.</p> <h3>Don't blame programmatic</h3> <p>But if technology and the automation it can provide ultimately results in a need for fewer marketers, technology shouldn't shoulder all of the blame.</p> <p>No, marketers themselves will have to take some responsibility for the situation.</p> <p>In a scathing opinion piece, Marketing Week's Mark Ritson <a href="https://www.marketingweek.com/2016/09/26/mark-ritson-facebooks-erroneous-video-metrics-show-no-one-has-a-clue-about-digital/">argues</a> that <a href="https://econsultancy.com/blog/68332-should-marketers-be-more-concerned-about-facebook-s-video-metrics-faux-pas/">Facebook Overstategate</a> shows that marketers are in many cases clueless:</p> <blockquote> <p>...this little debacle once again confirms that nobody actually knows what the fuck is going on with digital media. Not media agencies, not big-spending clients and not armchair digital strategists.</p> <p>From the shadowy box of turds and spiders that is programmatic to the increasingly complex and deluded world of digital views, the idea that digital marketing is more analytical and attributable than other media is clearly horseshit.</p> <p>Sure, it has more numbers and many more metrics but that does not make it more accountable, it makes it less so.</p> </blockquote> <p>While marketers could be forgiven for the fact that Facebook is effectively a black box, it is somewhat amazing that apparently nobody noticed Facebook's major faux pas, which overestimated average viewing time for video ads by 60% to 80% for two years.</p> <p>But marketers can't blame the black boxes either. Examples of problematic behavior in digital ad land <a href="http://digiday.com/agencies/confessions-social-media-exec-no-idea-pay-influencers/">are everywhere</a>, and it often occurs when dollars meet hype, inexperience and bad judgment. </p> <p>And let's be honest: marketers, in many cases, don't have any incentive not to misbehave, get lazy or recognize their own limitations.</p> <p>In fact, they actually have more of an incentive to ensure that their budgets stay the same or grow.</p> <p>Fortunately for them, digital provides no shortage of metrics to justify those budgets.</p> <p>Ultimately, however, digital was sold as being far more accountable, and it should be. Technology will eventually be called upon to help restore that promise.</p> <p>The marketers who plan to remain marketers should embrace that.</p> <p>The marketers who don't are far more likely to become former marketers in the years ahead.</p> tag:www.econsultancy.com,2008:BlogPost/68336 2016-09-29T11:35:00+01:00 2016-09-29T11:35:00+01:00 Content marketing at The British Library: Is it as easy as it sounds? Nikki Gilliland <p>You'll find the video interviews in full below, handily divided into two parts as we know people have short attention spans these days.</p> <p>Or, you can scroll down to read some of the highlights of what he said.</p> <p><em><strong>Part one</strong></em></p> <p><iframe src="https://www.youtube.com/embed/Dhb6Iuyt2I4?wmode=transparent" width="854" height="480"></iframe></p> <p><em><strong>Part two</strong></em> </p> <p><iframe src="https://www.youtube.com/embed/hfCohNN352M?wmode=transparent" width="854" height="480"></iframe></p> <h3>What is your role?</h3> <p>My job is to extend the library’s reach, so that means bringing more people to our building here at St. Pancras and online to our website.</p> <p>It’s also to increase engagement amongst our users - getting people to use the collections that we have (again both online and offline), and ultimately to generate revenue.</p> <p>We want more people to be buying from us, so that means retail sales and ticket sales and so on.</p> <h3>What is the British Library’s content strategy?</h3> <p>In short, it is about owning the domain.</p> <p>Essentially that means becoming the natural destination for the thing our customers are looking for.</p> <p>At a high level that’s pretty easy – we want to be the home of medieval history or English literature. These things fit really nicely with our audience’s brand perceptions.</p> <p>However, below that, we need to be challenging those audience perceptions.</p> <p>For example, the library has an extensive patents collection, which makes us a great destination for researching and developing your next great business idea. </p> <p>With these things we need to work a bit harder on the <a href="https://econsultancy.com/training/courses/digital-content-strategy/">content strategy</a>.  </p> <p><img src="https://assets.econsultancy.com/images/0007/9565/British_Library_business.JPG" alt="" width="780" height="424"></p> <h3>Is content marketing for the British Library as easy as we all think it is?</h3> <p>Anyone who believes in <a href="https://econsultancy.com/blog/67985-what-is-the-future-of-content-marketing/" target="_blank">content marketing</a> would kill to work somewhere like the British Library, because you’re working with such unique items and a world class collection.</p> <p>But there are challenges around that.</p> <p>Metaphorically, we say that the British Library has 150m items, so when you’ve got 150m things to talk about, just working out where you start is a big problem.</p> <p>But we’re getting really good at that, with the marketing team working with the curatorial team as well as the library’s expert bloggers, getting together regularly and bringing to life these incredible stories.</p> <h3>What channels are the most effective for bringing the British Library to life?</h3> <p>The channels we find most effective vary for different things.</p> <p>We find Twitter and Facebook particularly effective for audience engagement, so surprising people with what we’ve got and getting them interested in using it.</p> <p>And we do that through features like item of the week and #onthisdayinhistory.</p> <p>When it comes to more of the commercial measures, we find some of the performance channels most effective, so <a href="https://econsultancy.com/reports/paid-search-marketing-ppc-best-practice-guide/">PPC</a> and paid social etc. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">It's <a href="https://twitter.com/hashtag/InternationalRabbitDay?src=hash">#InternationalRabbitDay</a> and they're all over our collection! <a href="https://t.co/S16j1DS1EL">https://t.co/S16j1DS1EL</a> <a href="https://t.co/F91ft0o9g1">pic.twitter.com/F91ft0o9g1</a></p> — The British Library (@britishlibrary) <a href="https://twitter.com/britishlibrary/status/779621696533921792">September 24, 2016</a> </blockquote> <h3>Do you think there’s an appetite for <a href="https://econsultancy.com/blog/66656-eight-examples-of-effective-emotional-video-content" target="_blank">video content</a> among your audience, or are you sceptical about it?</h3> <p>I’m not sceptical about the audience’s appetite for great video content, but for the time being, I think the priority for the British Library is the words and pictures.</p> <p>As we build the muscle for content marketing, we should be able to move quite naturally into video, and in fact we are doing a lot of that.</p> <p>We have fantastic speakers who come here week in, week out, and we are already experimenting with capturing that and distributing it to a much larger audience than the 250 people in our theatre.</p> <p><iframe src="https://www.facebook.com/plugins/video.php?href=https%3A%2F%2Fwww.facebook.com%2Fbritishlibrary%2Fvideos%2F10154492014972139%2F&amp;show_text=0&amp;width=560" width="560" height="315"></iframe></p> <h3>Are you experimenting with new distribution platforms, such as personal messaging services?</h3> <p>We’re experimenting with distribution all the time, but the remit of this content and community team is not just the content development – it’s the distribution of that content.</p> <p>So, we’re always trying new things, like native advertising and more paid social. Everything that we do has that multi-channel mix.</p> <p>We look at the performance afterwards and figure out what works well, as well as what we can do better.</p> <p><em><strong>Find out more about the British Library’s content strategy by attending <a href="http://www.festivalofmarketing.com/welcome?utm_source=econsultancy&amp;utm_medium=blog&amp;utm_campaign=econ%20blog">the Festival of Marketing</a> in London on October 5-6.</strong></em></p> tag:www.econsultancy.com,2008:BlogPost/68332 2016-09-27T14:43:00+01:00 2016-09-27T14:43:00+01:00 Should marketers be more concerned about Facebook's video metrics faux pas? Patricio Robles <p>By some estimates, Facebook and its arch rival Google now account for upwards of 80% of every dollar spent on digital ads. </p> <p>On Friday, David Fischer, Facebook's VP of Business and Marketing Partnerships, acknowledged the existence of a "discrepancy" and <a href="https://www.facebook.com/business/news/facebook-video-metrics-update">explained</a>...</p> <blockquote> <p>About a month ago, we found an error in the way we calculate one of the video metrics on our dashboard – average duration of video viewed.</p> <p>The metric should have reflected the total time spent watching a video divided by the total number of people who played the video.</p> <p>But it didn’t – it reflected the total time spent watching a video divided by only the number of “views” of a video (that is, when the video was watched for three or more seconds). And so the miscalculation overstated this metric. </p> </blockquote> <p>According to Fischer, this issue has been addressed, and he was clear to reassure marketers that "this miscalculation has not and will not going forward have an impact on billing or how media mix models value their Facebook video investments."</p> <h3>Marketers respond</h3> <p>Despite the fact that Facebook's mistake didn't have negative billing implications, there is no doubt that it looks bad for Facebook and has led some to question whether it will dent the social network's relationship with marketers.</p> <p>Not surprisingly, Facebook quickly found itself the subject of sharp criticism. </p> <p>WPP CEO Sir Martin Sorrell used "Overstategate" <a href="http://www.adweek.com/agencyspy/sir-martin-sorrell-has-harsh-words-for-facebooks-fake-data-in-overstategate/117517">to call on Facebook</a> to provide its data for independent verification, and an unnamed Publicis executive reportedly told clients "two years of reporting inflated performance numbers is unacceptable" in a memo.</p> <p>But as TechCrunch's Josh Constine <a href="https://techcrunch.com/2016/09/23/which-social-media-metrics-matter/">points out</a>, some marketers have stepped up to defend Facebook, arguing that the mistake wasn't all that consequential and suggesting that marketers are a fairly sophisticated bunch when it comes to keeping tabs on their social efforts.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr"><a href="https://twitter.com/jasonwstein">@jasonwstein</a> whole thing is silly. Full data by sec has always been available. We always look at 30 for comp 2 YT &amp; 10 for Nielsen benchmark</p> — Azania Andrews (@jewelazania) <a href="https://twitter.com/jewelazania/status/779159828480528385">September 23, 2016</a> </blockquote> <h3>Reasons marketers should care</h3> <p>Are those downplaying Facebook's mistake justified in doing so, or is the concern legitimate?</p> <p>Here are a few reasons why marketers should care about Overstategate.</p> <h4>1. Apparently, nobody noticed</h4> <p>Despite the fact that Facebook's errant calculation of the Average Duration of Video Viewed may have overestimated this metric by a whopping 60% to 80%, it went unnoticed for two years.</p> <p>Which begs the question: why, apparently, didn't marketers notice?</p> <p>Given the magnitude of Facebook's miscalculation, one might have expected observant marketers to have caught on to major differences between the average durations reported on Facebook versus other platforms, unless other platforms perform significantly better than Facebook in this area, which seems unlikely.</p> <p>Was nobody looking at this metric? Were marketers asleep at the wheel?</p> <p>Did they not care as long as the metrics looked good and they kept getting budget? Did marketers fail to read the manual, as Kalev Leetaru <a href="http://www.forbes.com/sites/kalevleetaru/2016/09/24/the-media-got-it-wrong-what-facebooks-video-ads-issue-tells-us-about-big-data-metrics/">argued</a>? Or something else?</p> <h4>2. It's not without potential consequence</h4> <p>Even though Facebook's mistake didn't have billing implications, as The Wall Street Journal notes, it could have made Facebook look like a more attractive channel and influenced spending decisions.</p> <p>This is particularly true for less sophisticated marketers who rely on the vanity metrics Facebook highlights to them.</p> <p>This in and of itself is cause for concern.</p> <h4>3. Facebook isn't direct response only</h4> <p>Many marketers downplaying the Facebook error point out that metrics like Average Duration of Video Viewed are often not the primary metrics they focus on.</p> <p>One told TechCrunch...</p> <blockquote> <p>...most advertisers see reach and view time as secondary or even tertiary metrics.</p> <p>When determining whether something is working, we typically focus on actions like clicks or conversions.</p> </blockquote> <p>The problem with this is that not all marketers using Facebook are using it as a channel for direct response, so determining the efficacy of campaigns isn't always as easy as drawing a straight line between dollars spent and clicks or conversions.</p> <p>Video in particular is being widely used by major brands in social channels to drive brand awareness, so metrics like reach and Average Duration of Video Viewed are far more important than some seem to believe.</p> <h3>Other miscalculations could be lurking</h3> <p>The biggest reason that marketers should be concerned about Facebook's faux pas is that they don't know what other miscalculations could be lurking behind the metrics that they're using.</p> <p>Marketers "own" fewer and fewer of the channels and platforms they rely on, and rarely have access to the raw data that goes into the metrics third parties report to them.</p> <p>Furthermore, in many cases, their efforts on third-party services are aimed at driving engagement on those third-party services, as opposed to driving action on properties they own, so it's increasingly difficult to close the loop.</p> <p>While programs like <a href="https://www.facebook.com/business/news/new-ad-viewability-partners">Facebook's ad viewability verification</a> help, not all marketers work for companies that have the resources to take advantage of these, and clearly those that do don't feel that they should be paying extra for them.</p> <p>That means large numbers of marketers, particularly those working for SMBs, are looking at and in many cases making important decisions based on metrics that come out of black boxes.</p> <p>Black boxes that may very well not be working properly 100% of the time.</p> <p>That, no matter what, is a big problem.</p> tag:www.econsultancy.com,2008:BlogPost/68290 2016-09-14T15:15:00+01:00 2016-09-14T15:15:00+01:00 Brands too dependent on Facebook organic reach: study Patricio Robles <p>That's according to <a href="http://www.campaignlive.com/article/facebook-97-brands-rely-organic-reach-says-bbdo-study/1408492">a study</a> published by BBDO Worldwide, which found that of the 100 brands with the most engagement on Facebook, only 3% were engaging in paid promotion of 80% or more of their Facebook posts.</p> <p>This is problematic according to Julian Cole, BBDO's head of communications planning, because "organic reach on Facebook is dead."</p> <p>Indeed, clients of social media publishing platform provider SocialFlow <a href="https://econsultancy.com/blog/68164-publishers-turn-to-video-to-offset-organic-reach-drop-on-facebook">saw their reach per post on Facebook drop by a whopping 42%</a> between January and May of this year alone.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/7850/socialflowmediafbreachperpost-blog-flyer.jpg" alt="" width="470" height="257"></p> <p>Of the brands BBDO looked at, a full 15%, including brands like Pizza Hut, Dove and Pringles, didn't use paid promotion for any of their Facebook posts.</p> <p>The top 3% of brands, on the other hand, made extensive use of paid promotion.</p> <p>For example, Starbucks put money behind 97% of its Facebook posts during the period between May and July, while Cadbury Dairy Milk promoted every one of its four Facebook posts during the same period.</p> <h3>Looking at the wrong metrics</h3> <p>Why are the majority of brands still relying so heavily on organic reach on Facebook?</p> <p>According to BBDO's Cole, many are probably focusing on the wrong metrics, specifically those related to engagement, such as comments and likes.</p> <p>But "the people who like posts, who like brand posts, like lots of things on Facebook," Cole stated.</p> <p>Frequently, BBDO found, those who engage at a higher clip aren't even those the brands are targeting.</p> <p><img src="https://assets.econsultancy.com/images/0007/9124/bbdo.png" alt="" width="634" height="360"></p> <p>In many cases, the consumers brands are targeting haven't liked their Facebook Pages, and thus are unlikely to be reached organically.</p> <p>Cole refers to these as "light buyers" and points out that they can be critical to moving the needle...</p> <blockquote> <p>When you look at where you actually grow, it’s actually the light buyers, people who buy your product once or twice a year.</p> <p>So you think of Pepsi, it’s not the person who drinks like, three glasses a day. It’s the person who drinks it once or twice a year is where you see your volume growth.</p> </blockquote> <p>Unfortunately, because brands have been conditioned to focus on engagement metrics, many are just now learning that their campaigns on Facebook might not be reaching who they need to reach in the first place.</p> <p>BBDO says that it's working with clients to help them understand this, and as this knowledge becomes more widespread, it could help Facebook grow its ad business even further.</p> <p><em>Further reading:</em></p> <ul> <li> <a href="https://econsultancy.com/blog/68164-publishers-turn-to-video-to-offset-organic-reach-drop-on-facebook/">Publishers turn to video to offset organic reach drop on Facebook</a> </li> </ul>