Back to School (BTS) is a $53 billion shopping season that’s entering its final stage as parents and college students take care of school supplies and clothing needs before Labor Day. And as we close out this decade and look to the 2020s, the combination of mobile technology, hyperlocal commerce, and consumer expectations make this a fascinating juncture in BTS history.
Fortunately, these complex market scenarios represent more of a golden opportunity than a paradox due to the promise of mobile. Here are two reasons why national and local brands should leverage data to bridge the online-offline gap and improve their BTS sales.
Facebook and Google still haven’t figured out how to automate creative. They can’t really even automate creative testing yet. So, take all the time you used to spend with bids and budgets and media buying and shift it to creative. Odds are, you aren’t spending even 2-3 hours a week monitoring and analyzing your competitors’ ads. Shift from bid edits and go do that. Or even better, spend 4-8 hours a week monitoring and analyzing competitor’s ads, and even ads from outside your industry. This research can result in blockbuster new creative concepts — the type of 100x ads that rocket ROAS.
The real opportunity in VR and connected cars, going back to our primary focus on local commerce, could be to utilize that captive in-car media time with local discovery tools. Ad-supported experiences could be geo-targeted based on where you are or where you’re going. Destination-based discovery tools could be baked in.
For franchise businesses, specifically, Facebook is critical. The platform has rolled out a significant number of enhancements to help companies manage all facets of their digital reputation. And in the last year, nothing has been quite so impactful to franchise businesses as the rollout of Locations – the company’s local pages feature, which enables a multi-location business to link, and manage, individual franchise pages to the corporate brand page.
In order to leverage the network as a true reputation management tool, franchise brands must get accustomed to the three features outlined in this piece, which can be used to enhance the online reputation of every location and control public perception of your overall brand.
As more and more states pass separate privacy regulations into law, we will likely see an increase of noncompliance and fines across the board. Subsequently, we might see more companies begin advocating for the US to develop its own version of GDPR at the federal level in an effort to simplify compliance for companies nationwide.
To stay ahead of the imminent data privacy regulations, companies need to establish a culture of transparency and compliance. Consumers will be more confident in businesses that offer a clear value exchange when asked to share their data, and marketers and publishers will build stronger relationships with users.
On this week’s Location-Based Marketing Association podcast: PatientPoint’s proximity in healthcare, Boen Wines using NFC with Guala Closures, Bumble gets into physical space, Puma geotargets on Firefly’s DOOH, Google launches “seasonality” and “location groups”, Groupon acquires Presence AI for voice & text.
Local businesses are struggling to adapt to a world where online reputation drives offline sales, and fake reviews are making the transition harder. What’s more, the fake review problem is getting worse. A Harvard study found that fake reviews on Yelp grew from 5% to 20% over several years.
There are lots of reasons for this trend, but this is an area where big data can be used to the benefit of consumers and businesses to increase trust. This means it’s on the tech community—not small businesses—to fix fake reviews. Just as media platforms have a moral obligation to avoid the spread of fake news, review sites have a responsibility to their users and businesses to ensure their content is as accurate as possible.
Retailers are only beginning to realize the potential of AR. As a new generation of shoppers steeped in AR grows up, their expectations will exceed the novelty acts the industry has put out to date. AR features won’t just be a one-off promo or tied to a game release; they will become the basis of the in-store customer experience, one that looks nothing like the retail of today.
Brick-and-mortar stores have contended with competition from the likes of Amazon and the steady growth of e-commerce, where testing is easily done. Yet brick-and-mortars can also take a data-driven approach to the e-commerce challenge. In-store experimentation based on advanced data science allows them to test everything from the store CX to its operations with relative ease and in a scalable way.
Real-world, science-based testing isn’t limited to product merchandising. It can be applied across a wide range of brick-and-mortar challenges, new product launches, store remodels, loyalty programs and more. A test-and-learn culture like the one described here can take a company’s research capability to the next level, helping to avoid failed ideas, fuel faster new product rollouts, maximize marketing ROI, and ultimately driving better business results.
“Growth hacking” along these lines is enough to gag a maggot, but there is the more “benign” approach of Google that says, “Let’s add an order button to every restaurant for the ‘benefit of the customer’” that is equally reprehensible. The business is effectively paying a searcher “head tax” to the food delivery companies on brand searches where the consumer just wanted to get the restaurant phone number, and the searcher was offered a big order button that is so much more convenient to click.
In Google’s case, it would be a simple matter to provide the local restaurant the option to turn off the Order CTA in the dashboard. Instead, if a business complains to Google, they foist them on the delivery service for resolution. (Or not.)
It’s that factor, consumer data and Amazon’s vast store of it, that stands out most in Jason Del Rey’s reporting on Recode’s new podcast series, Land of the Giants. Specifically striking is the episode on Alexa, in which Amazon employees openly speculate about a future in which smart microwaves will hook up with Amazon’s growing healthcare ambitions to tell you when it’s time to stop making popcorn and smart countertops will join the intelligent kitchen conversation. As Del Rey notes, Amazon execs talk about this future openly, dropping tidbits about customer obsession along the way and appearing truly unperturbed by the thought that such interventions into our domestic lives may go too far or generate unintended consequences. Optimism for the quality of Amazon products and a fervent belief in the company’s benefit to consumers—without due consideration for products’ risk and would-be limits—seem to pervade the corporate culture.
Today, it’s clear that the way businesses are communicating with customers is coming to another inflection point. Not only can end users opt out of messages from brands they don’t want to hear from, but they have become numb to the “spam” they receive on a daily basis. Now, new age technologies have opened up a plethora of avenues for organizations to push messages out to end users, and it begs the question, what can be done to find even more information about your audience?
A new mode of engagement is needed to help supplement customer communication in the next generation, but how will this manifest? My money would be on community.
On this week’s Location-Based Marketing Association podcast: PreciseTarget, Pinterest, Pokemon Go in NYC, Amazon killing Dash button, Walgreens using Theatre, MediaMarkt rolls out Signify indoor navigation, RevealMobile adds Canadian data.
US mobile-video ad spend will reach $15.93 billion this year, and climb to $24.81 billion by 2022, according to eMarketer. There will be 187.7 million smartphone users in the US poised to experience that creative, a figure that will mushroom to 205 million by 2022, the same report predicts. The time for in-app video is undoubtedly now, but the question remains: what steps can publishers, advertisers, and marketers take to stay on the path of accelerated growth? The following strategies are part of the answer. Each will drive success when it comes to in-app video opportunities.
A controversial new study by Carnegie Mellon University found that digital publishers get roughly 4% more revenue for an ad impression that is cookie-enabled — or personalized — versus one that isn’t. That’s not much. And while the sample was limited — they only reviewed ads for one “large U.S. media company over the course of one week” — it highlights a question publishers have been grappling with for a long time.
Is cookie-based ad-targeting worth it? Given the mounting costs of investing in data stack technology; reputation issues (the “creepy factor”) and regulatory concerns like GDPR and CCPA that publishers routinely face as a result of behavioral ad-targeting, is the value really there? And is it justified? The Carnegie Mellon findings suggest that the benefit is minimal. However, as I see it, publishers are focusing on the wrong issue.
Operators of small- and medium-sized businesses can get by ignoring many of the tech innovations that large companies adopt. Managing online reviews is not one of them.
Like it or not, the widespread usage of review sites like Yelp, TripAdvisor, and even Google and Facebook have changed the landscape of how local businesses attract and retain customers. Left ignored or handled the wrong way, a business’s negative online reviews can be a deterrent to potential new customers. Managed the right way, however, those same review sites can be a valuable marketing and customer service tool that leads to improved revenue.
While just over half of Americans have listened to them, podcasts are finding new audiences every day. U.S. advertisers spent $479 million on podcast ads in 2018, up 53% year-over-year; that figure is expected to hit $1 billion in 2021. And those people who do listen to podcasts listen to them a LOT. Podcasts are the number one audio source by time of consumption among podcast listeners, and weekly listeners consume an average seven podcasts per week, according to Edison Research.
Podcast advertising is rapidly evolving, as are podcasts themselves. It’s no wonder, then, that advertisers could use help identifying the right podcasts for their products and connecting with podcast audiences. Here’s what you need to know about podcasts and their audiences to find the right home for your podcast advertisements.
By implementing call tracking and analytics systems, marketers at multi-location businesses can obtain valuable first-party data on the calls and conversations they generate for each location. This first-party data helps inform marketing campaigns that open doors for new customers, reinforce relationships with current customers, and increase return on marketing spend.
Not sure how to maximize the business impact of consumer calls on your multi-location brand? Discover four things you can do now.
On this week’s Location-Based Marketing Association podcast: Sweden’s “The Fitting Room,” Mabata Honesty Shop, Nutella goes voice commerce, Unibail-Rodamco-Westfield brings the VOID to malls, SoundHound integrates HERE, Kroger launches Stratum data platform.