The web is full of interesting stories about how technology is changing marketing communications and the relationship between consumers and brands. Here’s what I’ve found to be the best 5 reads of this week.
1. A connection is only as good as its purpose
Most companies today say they want to build a closer connection to their customers. All say they want to „surprise & delight“ their customer. A lot of companies are talking about the change they’re thriving. But most companies don’t really live up to a single one of these promises. Why? Because they don’t know their true purpose.
Read Brian Solis’ excellent post about the importance of finding your purpose as a company in today’s connected business reality.
2. Get over these 3 Social Media Marketing Myths!
Most marketers are too focused on „engaging“ their customers. Why? Because they tend to think that engaging their customers is the best way to build a sustainable relationship. Harvard Business Review asked 7'000 consumers what they really expect from brands and points to the 3 most common myths that marketers need to overcome:
- Myth 1: Most consumers want to have a relationship with your brand: In fact only 23% do. You need to find a way to identify these consumers and market them separately.
- Myth 2: Interactions build relationships: No they don’t. Shared values build relationships. You must do a better job at communicating your purpose. (see above: Brian Solis on why Purpose is key).
- Myth 3: The more interaction the better: Wrong again. For every marketing effort your’re planning, ask yourself: is this going to reduce the cognintive overload consumers feel as they shop my category? Only proceed if the answer is „yes“.
3. Marketers find Social Media Marketing success still mostly unmeasurable
According to a new study by Pagemodo 64% percent of business owners say social media marketing is a promising tactic and they believe it provides returns. Looking at how they’re actually measuring the success of their social initiatives, makes clear most marketers have no proof for their beliefs. Most marketers still focus on simple Key Peformance Indicators like number of likes or followers, whereas only 18% measure success by brand and awareness and fovarability via consumer surveys.
Marketer's Methods of Measuring Social Media Marketing Success:
4. Big Data Apps will make your business more efficient
Today data, and business data in particular, is being generated, recorded and stored at a level never seen before. Big Data analysis itself is nothing new, Banks have been mining big data for years. But a new breed of Big Data Apps is making big data insights available for the business masses. From Police Departments mining thousands of past crimes to discover patterns for future incidents to local restaurants optimizing their loyalty programs, data app based insights will enable entire industries to become more efficient.
Read Forbes’ piece on „Tech’s Next Billion Dollar IPOs“
5. The updated Guide to Search Engine Optimization
SEO MOZ has updated it’s legendary Beginners Guide to SEO. It’s a fantastic ressource for everyone who wants to learn about what it means to optimize websites for better rankings on search engines. Make sure you read Chapter 9: Myths & Misconceptions about search engines.