We at Simply Intense pride ourselves in our ability to adapt to change. Ten years in business and we believe we are still a truly agile business. We built the business with the size and structure to support quick change. We adapt to change every day.
We are a Digital Agency at heart and our ethos is to provide best in class solutions approaches and strategies to our clients. Even if it affects our bottom line. This type of thinking ensures we are always providing thought leadership and best in class service to our clients. It keeps us young, hungry and far from boring!
We welcome our clients to the knowledge economy where we thrive on sharing insight and doing good work above selling people what makes us the most money. Many firms , like us have made money on Social Media Management for quite some time. We continue to provide value to our clients in more ways than posting someone else’s content to Facebook or Twitter however perhaps your service provider may not? Maybe it’s time for a shakeup?
Here is our take on the big question on most people’s minds right now. “In house Socia Media vs. Agency/Outsourced Model” So you can decide for yourself what works for you.
Apple Pay, Apply Watch, iOS 8, Excellent Info-graphic Showing All you need to know about the latest Apple Technologies etc.
There’s a change occurring within the media industry! The comparisons of the media dollar between Digital and Traditional media has been a buzz for quite some time! Everyone always says “Digital is more bang for your buck” or “Radio is the best way to reach people in T&T” or how about the general opinion that if it’s not in the Express or Guardian it is not considered to be in the public conversational domain? Some of these statements are based on facts and some based purely on opinions and experiences within the local Trinidad & Tobago Advertising Industry.
Well! With all these speculations and assumptions we set out to do some basic research and measurements to break it down for you in a very simple way.
As we begin we must look to our more mature markets for the beginning trends and transformations being experienced across the traditional media landscape. For instance according to the Newspaper Association of America it states:
Digital advertising rose to $3.4bn and accounted for 19% of advertising revenue
Revenue from Digital channels increased 5.8% year-on-year (YoY). Digital advertising, subscriptions, agency style services and others accounted for 12% of total industry revenue.
But that’s not all…
In 2012 Google’s revenue was larger than that of the entire American Newspaper Industry and…
In November of this year this will surpass that of the entire global Newspaper industry.
With that in mind let’s explore the local market for a bit. Many of you may be familiar with the infamous Market, Facts and Opinion Survey. This survey helps to guide many business and strategic media buying decisions within Trinidad and Tobago as it provides critical data and analysis on what’s happening with traditional media.
In 2013, the MFO conducted a national survey of the media industry which revealed that out of 643 households, 425 homes have internet access. That’s an average of 66% of all households surveyed. 650K+ users! Isn’t that something? Don’t believe it?
You can surely be convinced to know that Facebook alone has 580,000 Accounts that claim to be of Trinbagonian affiliation.
So what does that mean for marketers and campaign planning? Well for starters it means one can reach people in easier and in more targeted ways. Yes we know, everyone has told you this is possible using the Internet but has anyone really explained how and why? Listen up!
Swing back to the MFO. Have a look at these graphs from these statistical offices.
In short what this is saying is that on any given day in T&T we can run a media campaign that can reach, on average, 1 Million people. If we are lucky of course…very lucky. Of course anyone outside of media and advertising would ask how much will this cost? So let us break it down for you:
To reach all traditional media in T&T all day for one whole day, thus touching this entire claimed audience of 1 Million people will cost an approximately $30,000 – $60,000 TTD a day with a media plan including:
3 Press Ads in the 3 larger news papers
1 Prime Time TV Commercial circulated on the Local TV Stations
1 Radio Ad place on Every Station and run all day.
Now let us compare this to Digital Marketing via Facebook Advertising.
We can start with a pretty simple test! We ran some ads for a client earlier this year. One of those last minute jobs, client calls up, wants to activate and of course we would never say no to a client! Unless of course were talking terrible typography…or white text on a yellow background! But this was simple. Get people to share a little love for Mother’s day. The Ad looked a bit like this….
Now, the first major difference we are talking about is performance based media, in that, the more you spend, the more you get! Seems fair right? It is…
Everyone with any budget and the know how can build campaigns that exceed the impact of old media. Don’t believe us?
Well let’s compare directly to our 1 Million Ad Impressions that traditional will give you! For what did we say 60k TTD?
Reaching 1 Million Impressions on Facebook, with some clever targeting and a decent brand message…can be achieved in….drumroll!
$1,200 TTD! Yep. Only 2 zero’s there. You’re seeing right.
What’s even better is that these Ads have the ability to capture user emails, age and gender (your future marketing initiatives will thank you for this).
We’re not done yet though, we’ve got more! Imagine a world where you can target people who have particular interests, “Like” other brands or have checked into a specific location. If your ‘Facebook Marketing Guru’ is not bringing this to the table, he/she should be.
I am sure you are familiar with the word transformation. You are also probably hearing so much about the Digital world and how it affects our everyday lives if not experiencing this firsthand. Unless your living under a rock, it does not take much to see, things are getting faster and more efficient. Are you noticing People’s technology habits changing? This is Digital Transformation in action. Slowly the human race is evolving. Apps like Spritz is set to vastly improve the most simple of human actions, reading by making us all read 2.5 times faster. Check out Spritz if you don’t believe me.
So, with all these advances in technology and social interactions and people one must start to really think deeply about what this means for business. Truth be told the same advances we are seeing in human evolution is happening in business evolution. Well first of all 3 of the top 5 largest companies on the S&P 500 are tech companies and the I.T. Industry makes up 15% of the same set of firms. Even more shockingly, a lot of these firms did not exist 30 years ago. In the 1930’s the life expectancy of an S&P 500 company was 75 years. In 2012 this time between age and death looks more like 15 years. Yes business is evolving and moving faster than ever before!
So this begs the question for emerging markets and especially Caribbean businesses. How do we evolve our businesses to do the same before our younger, smarter, faster more agile competitors do? How do we shift Caribbean businesses to digital age?
Enter Digital Business Transformation!
Simply put, this is “The journey from where a company is, to where it aspires to be digitally!” – Miles Abraham, CEO, Si Media
So why? Why do we evolve business, change and drive to this new online world where everything is faster, customers have more choice, they trash talk your brand on Social Media and all that crazy, advanced, confusing stuff!??
Let’s start with the basics of success in business, customer service…
Here is some interesting research from Oracle indicating that customers generally preferred to speak with a live customer agent about their queries.
Well that’s interesting. I personally can’t tell you the last time I remember talking to a customer service representative. It’s probably because I am a techie and I do most of my shopping and business transactions over the Internet. So comparatively, have a look at this…
I shop at Amazon all the time! This letter is from Jeff Bezos(Amazon C.E.O.) to his customers, thanking them for being voted best at customer service! What is interesting about this information when compared to the Oracle data is one simple fact. It is almost impossible to find a customer service direct phone line on the Amazon.com website…Good luck getitng someone on a phone in less than 10 Minutes or in less than 30 Minutes.
In short, iff Oracle says most people want customer service on a phone line, and we can’t even find that button on Amazon.com, how is it that Amazon is the best customer service company in the world?
In the words of one famous Apple C.E.O. Everything Just Works!
Amazon focus so much on the customer experience and making it easy that you don’t have to resort to customer service. Executing on customer experience is the best route to customer satisfaction! Have you ever tried the 1 click to purchase button on Amazon? It’s simply amazing! Ok enough about the best customer service company in the world with no customer service agents you can actually speak too.
Let’s just glance at great entities such as Audi. At Audi showroom’s in Europe there is just one car! The entire process of selling you a car is done by a Digital experience. Letting you can configure any current Audi and have access to the full range of options to touch feel and experience in new Digital ways. We all love endless possibilities? And with the real estate prices in Europe it’s no wonder large digital screens take preference over filling your showroom with cars.
Another gem in Digital Business Transformation is the UK government. The mission statement of their main website gov.uk says it all: “Digital Service so good, people prefer to use them.” It also serves as a landmark way of thinking that has taken the UK civil service to be one of the most impressive online solutions in the world.
These great examples are proof in the pudding of a humble pie that Caribbean business will soon need to swallow to survive! Don’t want to swallow it? Then get ready to join the club of what I like to call the Dead Business Dinosaurs.
Dead Business Dinosaurs are well known. The companies that failed to evolve. The massive firms that did not adapt to the digital era, in the end the DBD’s either paid the ultimate price of bankruptcy or suffered a major loss in market share.
Let’s review some of the more obvious cases…
Record Industry: In 2000 the top 3 selling albums in the USA sold 25.75 Million copies. In 2012 the sold 9.14 million copies. Album sales have declined 64% in a decade!
Kodak filed for bankruptcy protection in January 2012 after 133 years of business. Share price dropped from $30 to $0.35 in 8 short years. Instant Photos didn’t just didn’t go out of style? 2013 Instagram sold to Facebook for $1,000,000,000.
Newspaper industry : In 2011 Google revenue will surpassed the revenue of the entire US Newspaper Industry and are set to pass the revenue of the global Newspaper industry this year! Since 2006 Newspaper revenue has dropped to 45% what it was.
And don’t even get me started on the demise of Nokia or the poor guys in the global Book retail industry.
How did they not see these changes coming? How did this happen?
Why did they fail? You can certainly read up about each one yourself, but to save you a few hours. Here are somevery common traits of failure that are similar in all of these businesses.
So good-bye DBD’s and hello Digital Centric Business. Let’s take a look at them. There are a few great businesses that get this. They weren’t here when your parents were born tho. Yep, I am talking about Facebook, Netflix, Spotify, Apple, Google. All tech companies, all great businesses. But what is the same about them all? The one common. What have they invested heavily in that has driven their success? Their customers and their customer’s experience!
Digital Business Transformation is not about a shift to technology investment, it’s not the Next Digital Campaign or a new eCommerce site, although both of those may help. It’s more about infrastructure, process, organizational leadership and a renewed focus on the value chain and how it makes up the customer experience.
Essentially ten years ago if a product was purchased the customer experienced ended once the transaction was completed. This is not the case anymore. Being innovative and creating great customer experience is an essential ingredient for the success in any business. It just so happens out tech giants built tools into their product that enabled them to learn more about their customers and respond holistically to add value to the consumer over time.
The graph below demonstrates what we are saying in a more clear. Comparing your Dinosaur business models to new digitally evolved business models.
What the tech giants know and build their business around is that the value of a product after sale decreases over time however if you know your consumers habits and can add value on the road to purchase you will in effect increase their customer lifetime value!
Recipe for failure
1 cup of doing more of what we already know for growth
½ cup of “what made us successful in the past will make us successful in the future”
2 cups of Change is a bad thing – VIP ingredient
¼ cup of we can take our consumers and their behaviors for granted
1 Tbsp. of more important to manage threats than seize new opportunities
5 cups of we can take our consumers for granted – VIP ingredient
1 tsp. of viewing the Internet as a bolt on
Recipe for Success
Don’t use the recipe mentioned above and start thinking of ways in which you can digitally transform your business. Or as we try to put it…. try to think of what Integrated, Unified Customer Experiences can we envision for consumers …that will increases their customer lifetime value.
For more on how we can help your business transform for a Digital World visit our website www.SimplyIntense.com
Facebook is one of the most popular networking sites bringing millions of people on a common platform. It is not only a medium to stay connected with your loved ones and friends but a platform to promote your business as well. During the several years, Facebook has evolved as a powerful platform that adds a new dimension to your business, creates brand awareness and makes it global too. Thus it can be said that this networking medium has definitely brought about a huge revolution by bringing the people together.
Celebrating 10 years of popularity
When Facebook was introduced by Mark Zuckerberg 10 years before, he had not imagined that it would become so popular and grow by leaps and bounds. Over the years, Facebook has received a lot of appreciation from the people and this is the reason that its business has gone to $150 billion. According to the users of Facebook, it has become a part of their lives and this platform gives them the opportunity to make new friends and get in touch with people. Though Facebook has offered a wonderful experience to the users but in the coming years it will be a challenge for them to attract billions of people towards it.
Facebook is one such platform that has not only grabbed the attention of the younger generation but even the adults and older people are getting attracted. The brilliant features, easy way to connect with people are some of the features that seek the attention of millions of users. Currently 81% of the people using Facebook belong to other countries rather than US. Indonesia has the highest number of Facebook users and even India accounts to 93 million people being a part of it. The statistics show that Facebook is surely a one stop option for the users and business owners both.
One step ahead with Instagram
Facebook reached new heights by purchasing Instagram on 9th April 2012. It has definitely increased the number of active users on Facebook with more people connecting to this platform. Nowadays Facebook is also accessed through Smartphones and there are around 556 million people who are using the smart devices. This platform has set a new trend in the field of mobile advertising as well. Facebook has become a universal need in today’s time and that is why its market is expanding day by day. With millions of users using the Facebook, it has set a new trend.
Recent acquisitions on Facebook
In the recent times, there have been a lot of rumors about Facebook losing 80% of their users. Facebook is one of the top social networking websites that has attracted millions of users. Now the people do not search for Facebook through Google but they are directly typing facebook.com and accessing the login page. Also the number of people using Facebook through their mobile devices has increased by leaps and bounds. Around 50% of the Facebook users are accessing their account via mobile. Despite the above factors, the teens are losing the interest in Facebook and are drifting away from it. But now a question arises as where they are going. Most of the teens are not using their Facebook account to get connected with the people but they are moving to better options like WeChat and WhatsApp. In the recent times, such sources have gained a lot of popularity and that is why the younger generation is more attracted towards these options. Around 81% of the people are using WhatsApp, even Instagram has emerged as one of the best photo sharing app. Then Kik is also a new app which has caught people’s attention. So from the above facts and figures, it is clear that the teens are moving away from Facebook and relying more on the mobile messaging services. The increasing number of new apps is also one of the biggest reasons why the number of users visiting the Facebook has gone down as people are looking for a new experience. In 2017, it is expected that about 80% of the users will drop down as they have better means to communicate with their peers and other people.
Facebook paper app – a new revolution
Recently Facebook completed its 10 years and that is why the owner decided to launch a new app. This is known as “Paper” which is sure to seek the attention of the people. This new app is divided into two segments; one is the top header where you will find all the specific topics while at the bottom there is another header containing the top stories which can be read by swiping. This fresh look of Facebook is somewhat similar to the app Flipboard. The new look has been designed by Mike Matas with an aim to provide smooth navigation facilities. Paper also a unique option through which you can tilt the pictures and view them in a different way. This feature has been liked by the people. The Paper app is definitely a new revolution which is attracting the people and it is sure that the superb interface will increase the number of visitors as well. So the owners of Facebook have given a good surprise to its users by introducing the Paper app. With the technology improving at a faster pace, Paper technology has definitely evolved as a superior option.
So no matter what the acquisitions may be but in the recent times the popularity of Facebook is at its peak. Though there has been a sudden downfall in the number of users but the new Paper app is sure to soar the spirits of the people high. It will not only enhance their experience but provide them a new interface to explore. So the successful completion of 10 years of Facebook has led to a few changes in its interface which is appealing and admired by the users.
We all know this generation has gone digital in all most aspects of life. Digital marketing is just a part of the game now and it has become important for all agencies to adapt to digital if they want to survive in the market and get the best for their clients. We are seeing an increase in client demand for good digital work and a lack of all round knowledge of the why factor of digital over the how. Like any large firm, some agencies will fail to follow the new trends of marketing, they will lag behind and possibly say they can deliver digital or social marketing professionally when in fact they have a low level intern posting social media aggregated content and calling it strategy.
How it was
Just a few decades back, marketing was much different from what it is now. The most important thing, which could work in this field, was the right combination of text and images. The creative team had to work very hard to put the two things together the right way so that the result is satisfactory and appeals people. The people had to be motivated enough and the promotion had to be done in the right manner. Since the medium of marketing was just TV and print at that time, the competition was not very high.
However, the easy availability of internet and the opportunities available for the people have made good marketers shift focus to an omni-channel mindset. It is not just the pictures and text, which will work out in the right manner to help you market the product. There are several stages of digital marketing like studying the product, getting the key advantages, studying the targeted customers and their behaviour etc. Promotion and PR is equally important when it comes to digital marketing and SEO is another factor.
The perfect blend
Adapting digital marketing is key to any traditional agency these days to get a direct to consumer relationship built. Traditional marketing will always be a great way to get a large, simple message out there. The use of the mediums should ideally go hand in hand If an agency manages to take care of each approach capitalising on the positive benefits of both mediums a new type of benefit can be realised. Their is no such thing as a perfect blend, but looking forward clients will want to know how each of these mediums is working to achieve their goals. Demonstrate this and you will always close new business.
Facebook marketing has become one of the most effective ways to promote your business. With a user-base in the Billions, this platform you can easily get any business. To get seen however is not always so simple. Getting traction on your posts and getting them on those users news feeds means you will need well thought out strategies and also will need to track the results. Mastering the news feed algorithm requires a bit more knowledge than ‘type, attach photo, post’. There are very few business owners who are aware of this algorithm (formerly known as EdgeRank) and use it for making a long lasting impact on their targeted customers. If you are new to Facebook marketing, let us explore more about the Edgerank and its utility.
This is an algorithm through which you can determine the rank of your content on the news feed. This gives you a better idea about how much of your content is appealing to people and how many of them are showing interest in it. Thus using the results of the news feed algorithm, you can easily modify your stuff and try to reach at the top position of the news feed. Higher the rank more will be the exposure as well as the visibility of your business over the internet. Thus, there is no doubt that Facebook Edgerank has evolved as one of the fruitful algorithms and useful in promoting your business on a global platform.
Important features of the Facebook Edgerank
The three important features of the news feed algorithm are:-
Affinity – It shows the relationship between the brand and the user. This attribute is determined with the help of the likes, comments and shares done by the users. The more number of likes and comments on the post, the higher its rank will be. If your posts are unable to engage the attention of the audience, it may bring down the rank and it can be hard to come out of it.
Weight – This attribute decides the value of the different actions performed over Facebook. For example, comments have a higher value than the likes and therefore it has more weight.
Time decay – It means how old your post has been. Older posts do not have much value and therefore posting new stuff is very important on a regular basis. In order to enjoy a higher rank, you must keep posting engaging content so that it is able to grab the attention of the people.
Consider these features and you will surely be able to increase your Facebook Audiences engagement.
Here is an Infographic that we made, hope it will be a bit of an indicator just how fast Social & Digital Media has grown in the last 3 years! WOW!