Here is our take on the most notable stories in Digital and Social Media Marketing from last week.
Last week, marketers weighed in on the importance of social media in their future plans, a study showed that US adults spend over 12 hours a day consuming media, and Snapchat made headlines yet again with the launch of their new API and marketing partner program.
Media Post | June 16, 2016
In an industry report from Social Media Examiner, 90% of marketers believe social media is important to their business. Even though marketers know it’s crucial for their businesses to be on social media, 40% of respondents stated that social media marketing has become more difficult in the past year. This accounts to the fact that less than 50% of marketers can accurately measure the ROI of social media activities, so trying to pinpoint its effectiveness is difficult. Additionally, marketers are constantly behind in the latest social media trends due to their fast-changing nature, which can also be a hindrance when trying to get the most out of social media marketing.
Despite the notion that Social Media Marketing is becoming difficult, it is a must-do for marketers these days due to their scale and reach. When it comes to advertising, measuring ROI will get simpler. Platforms like Facebook, Twitter, Pinterest, and Instagram offer a targeting option called Audience Onboarding where you can actually upload an email list and target ads only to those individuals. Since you know the individuals you are advertising to, ROI should be easier to measure.
Keeping up with the latest social trends is increasingly hard, even for the largest agencies and businesses. Your best bet is to try and read as much as you can by subscribing to marketing news websites and keeping up with each platform's own blog.
Media Post | June 16, 2016
According to a study conducted by eMarketer, US adults will spend an average of 12 hours and 5 minutes per day this year consuming media, both online and offline. Over the next two years, media consumption will only increase about three minutes, so it seems that we are reaching a saturation point. Looking at the numbers from 2012 to the projected numbers of 2018, TV and Print has and will see the largest negative impact while everything mobile is gaining market share.
The shift to mobile has been talked about for years, but this visual proof of the phenomenon. For the foreseeable future, mobile is going to be king and marketers looking to be where their consumers are will need to have some sort of presence there.
Looking past 2018, media consumption is going to be heavily impacted by the future of TV and cord-cutters. As more people switch to more digital channels and abandon the traditional cable model, will TV adapt or ride the wave of digital and mobile?
AdWeek | June 13, 2016
Snapchat has announced the launch of a Snapchat Partners program and its highly anticipated advertising API. The Partner Program will introduce two new players to Snapchat's ecosystem, Ads Partners and Creative Partners. The Ad Partners will be responsible for developing software, assist in buying ads, and analyzing campaigns. These Ad Partners will give advertisers their first third party option to buy Snapchat Ads. Creative partners will have a hand in optimizing Snapchat content and experience on behalf of advertisers.
Snapchat's main source of ad revenue is from their video ads, which they refer to as 'Snap Ads'. These Snap Ads appear within the stream of user content, so they are seamlessly served. While the newly released API means that Snap Ads are now more accessible to more marketers, it may not make sense for a majority of marketers budget-wise until there is a proven track record of success. It is being reported that Snap Ads cost about $40 - $60 per thousand. To meet the rising demand, Snapchat is slowly raising their ad inventory to keep the price steady.
Price aside, Snap Ads can be instantly skipped by users, so their viewability is not up to IAB standards.
via Social Media Today | June 11, 2016
Pinterest users now conduct over 2 billion searches a month on their platform. How does that stack up to Google? According to Internet Live Statistics, Google sees about 3.5 billion searches a day.