I’ve been reading predictions with some amusement about how AI virtual assistants will make our lives easier and better by thinking for us. The prognosticators of AI technology remind me of the early days of social media and its love fest promise of brands building relationships and interacting with their customers. Well, we all know where that got us. Which brings me to AI platforms and big tech.
Is there guilt by association for brands on social media platforms?
Well, here we are at another crossroad for social media platforms. Masters of the universe in Silicon Valley are being taken to task for their lack of control and protection of user information and accountability for the content posted to their platforms. Both of these topics are specifically related to trust. Over the past few months, there has been a decline in user participation due to deliberate manipulation of content designed to divide or inflame, user privacy issues, fake news, and a general denial that the above-mentioned are growing problems for these platforms.
The internet became the yellow pages and how brand marketers can rise above it.
I recently performed a google search using the queue — crap internet content — which returned 2,770,000 results in 0.68 seconds. This statistic alone should speak volumes about the current state of the internet and the questionable quality of the content that is pumped out for public consumption. With so much underwhelming, misdirected, me-too, and opinion-stated-as-fact content available for consumption, it’s no wonder our attention spans are being reduced to microseconds.
The utopian promise of social media was founded on the sharing of ideas and respect for the individual.
In the not too distant past, social media was embraced by brands as a conduit to engage with users in hopes of creating a personal relationship. Diaper brands embraced mommy bloggers, food brands created recipe sharing websites, Facebook created the wall where users posted enhanced digital profiles of their exploits and lives. Titans of corporations envisioned social media as a way to reduce advertising costs because in their view, social media was free. Free in the sense of no media expenditures, content was provided by the users and as a bonus it came with a rudimentary form of ROI based on likes, opens and click-through rates.
7 decades of successful advertising has relied on this advertising model
It seems that the entire advertising ecosphere has become infected with the cheaper/better virus.
Startups think that agile marketing can introduce their idea/App/product exclusively through social media. Thinking that social media can be scaled and user comments controlled to reach and influence the intended target audience with enough impressions to influence the next round of investor backing is naive.
Data collected should provide value to all concerned parties
The Altimeter Group published “The Trust Imperative: A Framework for Ethical Data Use.” The report gathered information from several different sources to provide a well-rounded view of how consumers view data collection and how organizations are starting to rethink data collection practices. Continue reading →
Developing an online revenue cycle requires a structured approach in which marketing and sales work together. Marketo, in their Marketing Metrics & Analytic Guide, describes their revenue cycle and offers a pictorial example of their sales funnel. Below is my interpretation of their revenue cycle for small to mid-sized B-to-B brands that would like to apply ROI metrics to their inbound marketing efforts.
Large numbers of followers are not an indication of an effective social media strategy
In a recent study, Americans were asked why they used social media. 40% indicated that their reason was to find more information about a company or organization. In addition, 26% of Baby Boomers, 31% of Gen-Xer’s and 43% of Millennials indicated that social media has some influence on their purchasing decisions.
Daily we are subjected to a constant barrage of marketing messages. From text messages for discounts from our favorite yogurt establishment, to emails from strangers, to online advertising featuring talking Geckos backed by Berkshire Hathaway’s unlimited media budget. It seems that there are neither limits nor boundaries that marketers will not exceed to try to get our attention.