From the blog
A customer experience (CX) focussed week on the blog:
First a CX breakdown of the newly launched "Amazon-killer" jet.com
Second a millennial customer persona template.
The industrial revolution forced a fundamental change in global commerce, government and society. The information revolution we are currently in is set to have a similar impact on human kind and the Guardian argues that this means the end of capitalism has begun. Some of my take-aways from the article:
The biggest modern asset today is data yet today's economics doesn't know how to account for the asset
States have far less power to shut down or control information as they paralyse their economy in the process
Economic austerity and an increasing wealth gap has produced "networks you can't default on" and born a set of shadow economies.
Whether it's the end of capitalism or not the question I ask myself is how does this effect marketing and how do we leverage the fact that people's behaviour is shifting at a macro level.
In an increasing effort to become people's complete internet experience, Facebook is testing the ability for companies to set up e-commerce shops within their Facebook pages. This is the logical step forward from its recent launch of Instant Articles (content publishing) and Business Messenger (CRM / CS) platforms. For a good introduction check out an introduction to facebook ads for ecommerce.
Google, Facebook, Snapchat and Pinterest are all joining the trend. Why the Internet is suddenly covered in buy buttons.
The Economist's 2015 Big Mac index is out. By comparing Big Mac prices across the world the index describes the level of currency misalignment across countries based on the theory of purchasing-power parity. The overall takeout? Lots of undervalued currencies.
In the next five years, millennials will total more than $1.4 trillion in spending power, and women will likely hold at least half of this trillion-dollar bank. If brands are smart, they'll throw out the playbook and listen to what millennial women say they want out of effective content marketing.
App.net tried to create an ad-free Twitter and failed. Diaspora tried to create an ad-free Facebook and failed. Large-scale media services rely on advertising because they can't get critical user growth by charging people money - the model doesn't seem to work. The ABC asks if advertising is morally justifiable discussing the importance of protecting our attention. Their argument is nobel but time-and-time again it seems that mass audiences seem to swap what's best for them in the long-term (ad-free anonymity) for a short-term benefit (free).
Siloed oranisations, old infrastructure and no omnichannel roadmap are the three barriers stopping marketers from effectively adopting omnichannel marketing.
Facebook's video product is growing quickly and is reportedly at 4 billion views a day - up from 1 billion at the end of last year. There are still some key elements Facebook needs before it becomes competitive with YouTube. These include monetised UGC, content ID, search and a younger audience.
Instagram is about to launch a swath of ad products to all. Products include direct-response ads, the ability to buy ads via an API (application programming interface), as well as enhanced targeting.
"Here’s a message on behalf of brand marketers everywhere.† We know about banner fraud already. We just don’t care. Seriously. It’s fine." Why Banner “fraud” doesn’t matter.
To understand you customer, understand how people think. Maybe start with 15 psychological studies for marketers to know.
Any customer obsessed business should have a voice of the customer program in place. Leadin shares how they regularly get over a hundred customers to interview.
With the right mix of government policy and business action, consumer spending in China could rise by as much as 126%, the equivalent of an additional $15 trillion. It's critical marketers learn how to reach the Chinese consumer to gain a share of the spoils.
Are retail photographers at risk of lossing their jobs? User generated photos are more trusted than professionally taken photos. Target found that their UGC photos converted at twice the rate as professionally taken photos.
Selfies in space anyone? How a bunch of government space geeks at NASA mastered social and won the internet.
"If you can’t measure something, don’t build it. If you couldn’t measure the results, don’t try it. Because how do you know it’s working? How do you know it isn’t?" Zynga analytics at it's peak.
Predictive analytics are becoming more mainstream in business and there is increasing demand for solutions to be integrated with other mission-critical systems such as operations and marketing.
One of the most critical growth metrics is retention. Periscope share some insights in analysing daily and rolling retention rates.
Call Tracking is the process of using a special number to track the telephonic impact of the marketing effort on lead generation and ultimately, sales. But which service provider is the best for your call tracking needs?
Black Friday, the last Friday of November, is the biggest day of the year for retailers - it's the day they go from being in the red (negative profits) to being in the black (profitable). Wednesday 15 July 2015, in celebration of its 20th anniversary, Amazon has promised its Prime customers "more deals than Black Friday." Walmart shot back with their own deals on the same day without having to buy a subscription.
Still on Amazon, the WSJ outlines how over 20 years, $400 billion in sales and less than $2 billion in profits has changed retail.
A good creative idea needs to be centred on a strong insight. Harvey Nichols decided to focus on the fact that their product is good enough to steal when launching their new loyalty app.
Sequels are the big moneymakers in Hollywood for a reason - movie fans want their favorite characters and storylines to have a long life. CMO explores how marketers have used this insight for their campaigns.
Budweiser, Old Spice and Redbull are all given as examples of how successful advertising focuses on memorable experiences.
Tool of the week
Start a fire allows you to add promotional content to any web page. It's an excellent tool for anyone sharing content through any channel. To see it in action click on any of the links in this email :)