Tag Archives: trends

Video Killed The Digital Star: 6 Key Online Video Trends

Last Monday I was speaking about the latest Video marketing trends. Visual storytelling will be more and more important and naturally video is the most important way to tell visual stories. Video is growing rapidly and currently there does not seem to anything stopping this rapid growth:

  1. Video just keeps growing

We are living in visual age. Picture tells more than thousand words and video tells more than thousand pictures. In next three years video will account 79% of all Internet traffic. Businesses are expected to spend nearly $13 billion on video marketing in 2018. Lots of the discussions about video is focused on entertainment, but we tend to forget that YouTube is the world´s second largest search engine. 75% of consumers believe that a video describing a service is important and 25% will lose interest if your company is not explaining through video.

  1. Catching the attention is more difficult than ever

1/3 of of all YouTube videos have less than 10 views. That is quite pathetic and showcases the wide gap between hits and misses. Within top 10 most watched videos in 2016, there was only one ad (Nike The Switch). Of all the top 10 most watched ads, half were actually Superbowl ads. You are not only competing with other brands, you are competing of the time of your audience.

  1. It is not mobile-first, it is mobile-only

Mobile video is growing 25%, whereas desktop video consumption is declining for the first time ever. People are already consuming video 36 minutes on their mobile devices compared to 18.5 minutes on non-mobile devices. This mobile shift will affect your video production: Have you thought about vertical videos?

  1. Consumers are craving for instant gratification

Unfortunately average human attention span has fallen below the one of goldfish, so not surprisingly 75% of consumers prefer video under 60 seconds. YouTube is aggressively pushing their 6 second videos, which is enough time to tell even world´s greatest stories (below is Hamlet):

  1. Video platforms are eying for the prime time

YouTube are evolving from dubious quality user-generated snackable content to full-blown entertainment powerhouses. YouTube has couple of interesting offerings: YouTubeTV (cable-free LiveTV) and YouTube Red (ad-free offering focused on music and content creators). Facebook has not exactly resting on its laurels and Facebook Watch provides original video shows.

  1. Video is getting more interactive and immersive

This quarter there were over 2 million VR devices shipped (ranging from no-frill Google Cartboard to top-tier Oculus Rift), but VR has not yet hit mainstream. It currently works well with events and gaming, but we have not yet seen the killer app (or device) that would break VR to become a household name.

Augmented reality is already more mainstream (with Pokemon Go last year and popularity of face filters in Snapchat and Instagram). New Apple ARkit will just keep on making Augmented reality more popular.

Based on the calculations by Credit Suisse, VR/AR market could become as big as the current smartphone market:

Screen Shot 2017-10-16 at 4.01.47 pm

Source: Credit Suisse

So in the future, you do not only need to consider what is your content angle with your video. You have to also consider the depth of interactivity and immersion you want to obtain.

In many ways digital marketing is becoming more simple. It is all about two things: performance and content creation. The latter is all about video creation and to succeed in the market place, you have to be master of video production as well.

Advertisements
Tagged , , , , , , , , , , , ,

#sometrendit2016: The Only 2016 Social Media Trends You Should Read

tweet

As the year approaches the end, it has become an annual tradition for me take a look at crystal ball and share my views with Kurio Social Media Agency on the next year´s social media trends.

For those adapt at Finnish, I recommend reading the whole report. If you are not interested in the predictions of 28 other Finnish digital marketers, you can also jump straight to the most important ones (mine) below.

Before I go into my answers, I have to quote myself from the last year:

I have to say that I have not been interested in social media as such for a long time. Do not get me wrong. Social plays crucial role in digital business. But I seldom think digital as a separate entity either: digital is air. Digital, mobile and social should be a part of every business. Sometimes at the core, sometimes playing supporting role and sometimes playing no role at all. Strategy is about deciding what to do, but even more importantly what not to do. If you are thinking social media as a separate unit you are missing the bigger picture. 

The dominance of digital universe goes well beyond our traditional silos.

And here are the bold/boring predictions of 2016:

  1. 1. Biggest Social Media Trend in 2016?

Internet will be build more and more upon instant messaging. We have moved to the latest phase of Internet: the Age of Messaging. What is most interesting, who will be the master of that era? If previous phase was the Age of Social and Facebook was the undisputed king, is it able to keep its lead? Currently it seems with the dual-strategy of WhatsApp and Facebook Messenger that Facebook will continue to dominate.

2. Social media platforms to look out for 2015?
Last year I was speculating about anonymous messaging and those services were not able to live up the hype. On the same speculative tip, I would keep an eye on live-streaming platforms like Periscope. It is easy to recognize the opportunities Periscope can bring to the brands. Bigger question is will they be truly interesting to actual users?

It is worthwhile to keep an eye on WeChat, because what it does today in China, Facebook will do in western world tomorrow with its Facebook messenger.

3. Biggest challenges in doing social media marketing in 2015?

The huge portion (probably somewhere around 3/4) of sharing in social media is so-called “dark social”. This means that social media listening gives one-sided and even totally faulty picture about what people are really talking about. People share where the brands play no role.

This is great for consumers, because brands are not ruining your conversation or begging you to like them. It makes our work way more difficult. Established channels like FB and YouTube are 100% paid media. To some IM services you cannot get even when you are paying. There is no such thing as earned media anymore.

4. Social Media Buzzword, which hopefully disappears in 2015?

Content marketing.

Despite all the hoopla about native advertising and new content agencies, the division of labor is simple. In Internet there is only good (or bad) content or good (mostly bad) ads. Ad agencies have shown that they cannot truly create content and content marketers have not been good at creating ads (which essentially move products of the shelves). There is role for both counterparts, but it is utter stupidity to think that you could replace one with another. Or that one agency could be great at creating both of them.

To see what I have been predicting in previous years, see the following links:

Social Media trends 2013

Social Media trends 2014

Social Media trends 2015

 

Tagged , , , , , , , , , , , , ,

Social Media Trends 2014: The Truth According to Me

Good folks at Kurio Digital Marketing Think Thank asked me (again) and 21 other Finnish digital dudes & dudettes some views of social media trends in 2014.

In many ways the social media scene has matured and the shifts are not as radical as they were few years back. Many of my answers from last year would not be out of place this year (last year trends can be read here). As majority of the readers of my blog cannot read Finnish, I have translated my predictions below. If you can understand Finnish, the report is highly recommended read.

Before going to my answers, it is important to make the distinction between a fad, a trend and a commodity. Every new thing starts out as a fad (i.e. Snapchat is in that phase). Majority just stay as fads (Chatroulette), but certain things evolve to trends (i.e. brands building their Facebook pages few years back). Only very few make their route to become commodities (Facebook, Twitter, Youtube at the moment). Trends do not pay the bills, so usually only when something is commoditized it starts to make safe business sense. In that way you should approach your social media marketing efforts like investor:

70% of investments to commodities (Facebook, Twitter, YouTube)
25% to trends (Taking selfies)
5% to fads (Snapchat, Vine)

This is naturally subject to your risk tolerance and your business majority. If you are start-up with nothing to lose, it might sense to flip it other around. And do not get me wrong, my view is that brands should try to ride the trends and fads more proactively. It is just important to realize their business role (such as learning, gaining the opinion leadership, creating the future competitive advantage). Riding on the fads seldom is the way to reach masses.

So with that caveat my social media trends (with couple of commodities and fads thrown in as well):

 1.Biggest Social Media Trends in 2014: Monetization & Mobile-First
There is two big paradigm shifts which are not really trends, but changes which have already happened but keep
a) Money (Show it)
Twitter did the IPO this year, which will affect the user experience. I doubt that the success will not be as good as with Facebook. Mass social media channels are increasingly more bought media than earned media. Therefore community manager or social media director without also access to bought media budget is a position without any real power. In many ways the advancements in bought media (i.e. programmatic buying) have also been way more interesting in recent years than say in, content marketing.
b) Mobile (First)
The switch to mobile is not a trend, it is a change which has already happened.  Consumers  switch wildly between different channels, platforms, devices and even use them at the same time! This puts extra pressure to understanding the consumer journeys. You cannot really understand those journeys without constant testing, measuring and optimizing. Secret to crack the mobile-first challenge is to think holistically consumer-first.

 2. Social Media platform to look out for in 2014: Anything related to visual storytelling
I have talked about selfies before in this blog and they will not go anywhere next year (hopefully twerking will not disappear either). All the applications, which help you to modify and enhance will be hot items next year. China will show the way in this trend. Also, we have to also remember that selfie is a communication vehicle as itself. Combining IM and visual storytelling will be a big thing. Instagram has actually addressed this already with its Direct offering.

3. Biggest challenges in doing social media marketing in 2014: Processes block the real-time success 
Old processes stand in the way of the really great real-time executions. Year 2013 was disappointment in terms of real-time marketing. There were couple of nice stunts, but we should be able to do better than just dunk in the dark (Oreo is still pretty much the only proper case study example). The briefing process that is suitable for traditional big brand campaign just does not fit faster requirements of real-time marketing. My personal New Year promise is to concentrate even more in creating and executing more streamlined, collaborative and more agile way to make real-time success stories next year.

4. Social Media Buzzword, which hopefully disappears in 2014: The whole talk of the social media
If you are still in 2014 talking about social media as a separate unit, you are more old-school than the person still using FourSquare. Consumers switch smoothly between devices and platforms and between virtual and real-life like it ain´t no big thing. What is actually the difference between digital and real-life nowadays? How can your firm address the needs and the behaviors of these consumers in every relevant touchpoints? To separate social media from other digital activities or other activities is just laziness and shutting your eyes of the reality. Digital scene is more fragmented than every before. Therefore it is more crucial than ever to create a big picture of those fragments. We do not need any more social media specialists (or digital specialists for that matter). We need 100% digital people who live and breath like their consumers and have the understanding and empathy to connect with them (and also means to be in the right touchpoints).

 5. Biggest social media hope for the next year?
I do not hope, I just do. And measure, optimize and do it again.

Predicting the future is too much work, I rather create history.

Tagged , , , , , , , ,

Mastering the MIM: Marketer´s Guide to Mobile Instant Messaging

SMS is dead.
Long live MIM.


WhatsApp has been a major contributor of 25% decline of SMS in Spain
. Chinese WeChat has over 300 million users. Over 90% of Korean smartphone users use Kakaotalk. These are just a few examples of the rising trend of the mobile instant messaging (MIM).

Instant messaging as such is not a new thing (remember ICQ?), but there are certain reasons why it has had its resurrection now:

1. Phones are increasingly more about data than talking
In developed countries nearly every new phone sold is smartphone. Smartphones are increasingly more about being smart than phone. There is app for that, now also for the basic phone features (talking and texting).

2. That data is getting faster

New 4G LTE (Long term evolution) phones will enable high-speed data for mobile phones. This opens new opportunities for what kind of content we can exchange in MIM platforms.

3. Facebook is so huge that it is already mass broadcasting

If you are average Facebook user sending your status update, the odds are that the message will be seen by your family, friends and colleagues plus countless of people you do not even know about. This is great, but serves more of people´s need for vanity and instant recognition. The most meaningful conversations happen with the people you know. Same phenomenon has been also reason for the success of Path.

4. There is always need for 1-to-1 communication

Some might argue that Facebook message does the trick. However the challenge is that Facebook is already flooded with so many messages, it is not that reliable way to catch people (at least not all of them). Phone has been relevant for so long because you can be quite certain that your message is received. Although Facebook has increased the number of “friends”, it has not really increase the number of “real friends”. The amount of those real friends is limited and many of interactions with those people we want to keep private.

5. World is getting smaller

Majority of MIM applications work internationally. The bread and butter of Telcos profit margins has been charging for international calls and roaming. MIM applications do not have those international boundaries. You want to communicate with your friends no matter where they geographically are.

6. World is getting more visual

Although SMS-messages have been relatively cheap, telcos are still taking quite big premium with multimedia messages. With MIM applications you can send whatever data possible and the because of the point 2 the alternatives are actually increasing all the time. Basic SMS- type of messaging is just the beginning for MIM applications and there will be probably lots of innovations in what kind of communication there will be.

What are opportunities for marketers?

Many MIM applications are still quite in infancy regarding their business model. Opportunities for marketers also vary greatly between different platforms. For example paid application WhatsApp is totally ad-free and there has not really been marketers using it (expect for personal use). On the other end of the spectrum is the WeChat, which is currently almost like Wild West with Chinese brands flooding there.

MIM applications are interesting part of mobile strategy for marketers. They provide straight access to consumer´s main screen: smartphone. As the smartphone is always within you, that is the straight pathway to consumer connecting digital to retail. That is the connection which every marketer wants to master. It might be that clever way to utilize MIM is the key for cracking that task.

But why anyone would want to have 1-to-1 connection with brand?

Compared to Facebook where your brand page reaches only fraction of your fans, MIM application has almost the hit-rate of 100%. This is creates a big responsibility for brands. You cannot flood your fans with messages such as “Like if you are ready for the spring!” or “Tell us in one word: (Our Brand) make me ______”. You are truly invading personal space with your message so it needs to add some real value for the consumer. In Facebook you are more likely to get away with stupid brand messages, although they are definitely not recommended in there either.

Here potential routes for marketers to utilize MIM:

1. Daily Deals & Promotions
Deals and promotions are always appreciated by the consumers. With MIM you can connect it phones and also create the sense of urgency to redeem those deals. Of course, provided that these deals are good.
2. Daily tips
MIM provides opportunities also for content marketing. It could be daily practice tips for sport brand. It could be song of the day for music service. Of recent campaigns Oreo Daily Twist could work in Whatsapp. The most important thing whether deals or content, is the expectation management. You have to be really candid about what kind of messages you send and how often. You have one change to lose trust and none chances to get it back.
3. Extension of loyalty card
Having own MIM circle for the valued customers could be great idea for rewarding your best customers with VIP treatment.
4. Rapid Market research
Combined with promotions or deals, MIM also provides vehicle for doing rapid market research and gather intelligence for your loyal customers.

It is too early to tell whether MIM will be the secret weapon that connects digital and retail. One thing is certain though: MIM cannot be left out of consideration for your mobile strategy.

Tagged , , , , , , ,
%d bloggers like this: