The Weekly Marketing Roundup: 26/09/19

This Weekly Marketing Roundup: 26/09/19 we discuss Micro-moments, Omni channel marketing, Influencer marketing and how AI is transforming Influencer Marketing. #marketingnews #sydneydigitalmarketing #digitalmarketing #weeklymarketingroundup Thank you for tuning into this Weekly Marketing Roundup: 26/09/19. Here we talk about Micro-moments, Omni channel marketing, Influencer marketing and how AI is transforming Influencer Marketing. Join the conversation in the comments below.

Micro-Moments

What is Micro-Moment Marketing? Micro-Moments are “moments when we turn to a device – often a smartphone – to take action on whatever we need or want right now.”

“I want it NOW.”

That sounds like something a toddler in the terrible twos would say, but it’s also what today’s buyers are saying. They want immediate gratification, and they’re making decisions faster than ever before. This behavioral change is created and enabled by the increasing use of smartphones. Whether smartphone users are researching a product or looking for instructions, they not only have heightened expectations for speed in general, they also are often in a hurry to accomplish their tasks. These “I want-to-know,” “I want-to-do,” “I want-to-go,” and “I want-to-buy” moments are what Google calls “micro-moments.” micro-moments-weekly-roundup People generally make instant decisions on what to eat, which restaurant to choose, what to purchase or where to go, so the Micro-Moments that every marketer should know about are: To take advantage of micro-moments in 2019, you need to be where consumers are searching for information in the moment – or, as Google puts it, marketers have to “be there, be useful, be quick.”

“When we act on our needs in the moment, our expectations are high and our patience is low. This makes the quality, relevance and usefulness of marketing more important than ever.”

Why should marketers care?

This concept of micro-moments is a game changer for buyers and marketers. If you’re like most brands, you probably have your marketing efforts planned out in a buyer funnel with dedicated content for the awareness, consideration, and decision stages. But this linear funnel concept is going in the direction of the dinosaurs. When we act on our needs in the moment, our expectations are high and our patience is low. This makes the quality, relevance, and usefulness of marketing more important than ever. Since our preferences and purchases are shaped in these micro-moments, the brands that do the best job of addressing customers’ needs in each moment – notably on mobile – will enjoy a huge competitive edge. Here’s why:

  1. Many consumers aren’t brand committed. 90% of smartphone users are not absolutely certain of the specific brand they want to buy when they begin looking for information online.
  2. You get a shot at your competitor’s customers. 1 out of 3 smartphone users has purchased from a company or brand other than the one they intended to because of information provided in the moment they needed it.
  3. Your presence can drive brand awareness goals. More than half of smartphone users have discovered a new company or product when conducting a search on their smartphones.

So how do you win micro-moments?

Although this seems like a new discovery, the key to success goes back to marketing 101: understanding your customers and their needs. Here are some concrete ways to do so:

  1. Identify your consumers’ “I-want-to-buy” moments. Talk to your customers or listen to online discussions in your industry to figure out when, where, and how they’re researching and making purchase decisions.
  1. Be there in these moments of need. Once you figure out where and when your customers do these researches, create a comprehensive strategy that works across channels such as search, video, social, and display.
  1. Deliver relevant content. Simply being there in these moments isn’t enough. Look at how people are searching – the questions they ask, the search terms they use – and create content that provide helpful answers.
  1. Make it easy for them to make a purchase. The research to purchase process should be simple and seamless. Give the consumer multiple ways to buy with as many instructions and as few clicks as possible.
  2. Measure every moment that matters. Plot every customer interaction and analyze how multiple and different channels work together to support your customers.

What is the biggest mistake current brands are committing as it relates to Micro-Moment Marketing?

For each of those non-purchasing moments, brands still feel the need to push consumers into eCommerce check-out pages or long lead-capture forms. Realize that most people are not yet at that stage and instead of engaging will simply leave! Who knows the next time they’ll return? Instead, we find that offering a series of short, clear interactions that add value or help the consumer do research and self-educate drives more incremental revenue, lead generation and positive brand sentiment.

Omni-Channel Marketing

omni-channel-marketing-weekly-roundup Omni-channel marketing is the process of using multiple platforms (such as social media, apps or blog content) to give your audience a multi-channel experience. To stay ahead, brands must present a seamless, consistent voice and message across all available mediums, including physical storefronts, social media channels, online, in catalogs and anywhere else you can imagine. All channels should be linked in one all-encompassing strategy for the best results. Stats show that brands using three or more channels in an automation workflow can see these results:

  • Engagement rate: 18.96% on omnichannel vs 5.4% on single-channel
  • Purchase frequency: 250% higher on omnichannel vs single-channel
  • Average order value: 13% more per order on omnichannel vs single-channel
  • Customer retention rates: 90% higher for omnichannel vs single-channel

Users demand personalization and want to be able to browse a physical store, view products on social media, and purchase online. If you’re not keeping up with the tide, someone else will get that business. This is another area where AI and big data are playing a role by helping brands to understand consumer behavior better and personalize at an individual level at scale. Getting inside the head of your ideal customer’s buying journey is key to actioning an effective omni-channel approach.

The consumer of 2019 is easily distracted and impatient. No judgment, I’m the exact same way. If a brand fails to hold my attention for longer than 3 seconds, I’m gone to the next thing in my endless list of things to think about.

Your customers are no different, and likely, neither are you.

Your channels are there to help you. If they communicate in between themselves and update with more relevant messaging as your customer reacts and engages with them, you’ll hold their attention for much longer.

What’s Different Between Multichannel and Omnichannel Marketing?

omni-channel-marketing-weekly-roundup

Think of multichannel marketing as a large octopus. The head is the brand, and the tentacles reach out to several different channels to get a message out.

However, none of those tentacles communicate with others. The brand knows what each of them is doing, but one tentacle handling Facebook, for example, doesn’t know what another tentacle handling Google is up to.

In contrast with omnichannel marketing, which is more like an interlocking web. Each channel responds to the way that a customer engages with another, and the rest of them adapt accordingly.

In multichannel marketing, the brand is at the center of the strategy, with one static message that’s communicated to each channel. In omnichannel marketing, the customer is at the center of the strategy, with each channel adapting around the customer’s behavior.

Why Should I Use Omnichannel Marketing?

Maybe you already have a multichannel marketing strategy in place. That’s a great first step, but it’s time to take your strategy further.

In fact, many brands only stick to two channels that interact with each other. Email and SMS campaigns are usually the channels brands start with- and they’re great channels for it as they’re warm leads who have already shown interest in your product.

Three examples of Brands With Brilliant Omni-Channel Experiences

Disney

omni-channel-marketing-weekly-roundup-disney Disney gets omni-channel experience right, down to the smallest details. It starts with your initial experience on the entertainment giant’s beautiful, mobile-responsive website. Even its trip-planning website works well on mobile — that alone is something that you don’t see very often. Once you’ve booked a trip, you can use the My Disney Experience tool to plan your entire trip, from where you’ll dine to securing your Fast Pass. In the park, you can use your mobile app to locate the attractions you want to see, as well as view the estimated wait time for each of them. The entertainment company takes it one step further, though, with the release of its Magic Band program. This tool acts as a hotel room key, photo storage device for any pictures taken of you with Disney characters, and a food ordering tool. Plus, it even has Fast Pass integration to keep your vacation moving. That’s a truly omni-channel experience, and it’s a privilege to see Disney leading the way.

Bank of America

omni-channel-marketing-weekly-roundup-bank-of-america-ai Bank of America takes their omni-channel development seriously. As one of the biggest brands in their industry, they’re setting the standard for a dynamic experience, which — as of today — allows for everything from check depositing to appointment scheduling to be handled by the company’s mobile and desktop apps. Sure, Bank of America still has a ways to go. As of yet, users can’t apply for loans or carry out other more complex banking needs from their phones. But other activities, such as paying your monthly bills or depositing a check, shouldn’t require that level of hassle — and the company’s commitment to the omni-channel experience ensures that it doesn’t.

Oasis

Oasis is a U.K. fashion retailer that’s fusing its ecommerce site, mobile app, and brick-and-mortar stores into a simple shopping experience. omni-channel-marketing-weekly-roundup-oasis-micro-moment-omni-channel-marketing-influencer-AI-transforming-Influencer-marketing If you walk into one of its stores, you’ll find sales associates armed with iPads that are available to give you on-the-spot, accurate, and up-to-date product information. The iPad also acts as a cash register, making it easy for associates to ring you up from anywhere in the store. And the cherry on top? If it appears that something is out of stock, the staff can instantly place an online order for you to have the item shipped directly to your home. Plus, shoppers can download Oasis’ app to supplement its in-store (or online) shopping experiences, too. If that’s not customer service, I don’t know what is.

Influencer Marketing

influencer-marketing-ai-weekly-roundup Influencer Marketing is a hybrid of old and new marketing tools, taking the idea of the celebrity endorsement and placing it into a modern day content-driven marketing campaign. The main differentiator in the case of  influencer marketing is that the results of the campaign are collaborations between brands and influencers. Influencer marketing is a type of word-of-mouth marketing that focuses on using key leaders to drive your brand’s message to the larger market. Influencers can be well-known celebrities, but more often they are Instagram or YouTube personalities with a huge following who can help spread the word about your business or product through their social channels. Because influencer marketing is generally more authentic, 92% of people trust other consumer recommendations over corporate advertising. For this reason, Iceland, a popular British supermarket chain, switched from TV ads to a campaign that featured real-life moms. Teaming up with YouTube community, Channel Mum, it now works with a number of vloggers to promote its products in a more ‘authentic’ fashion, which resulted in approval ratings that increased from 10% to 80%. Influencer marketing is also going to be influenced by artificial intelligence. With each year, AI is making the process of finding the right influencers to partner with easier and faster. It’s helping identify those with better engagement, fewer fake followers, and a higher chance at generating a positive ROI. In addition, artificial intelligence is transforming influencer marketing in the following ways:

  • Image recognition with ANN
  • Determining influencer performance with NLP
  • Predicting incentives with ANN
  • Determining an influencer’s influence
  • Flagging posts that don’t follow disclosure guidelines
  • Elimination of fake engagements and spam bots

The value of influencer marketing

influencer-marketing-ai-weekly-roundup While Instagram influencer marketing is a well-known strategy, there are many other networks that are growing for influencers. According to Adweek, the industry is set to reach $10 billion in worth by 2020. Other networks like Snapchat, YouTube and TikTok have their own set of influencers with different demographics. Influencer marketing agency Mediakix surveyed marketers at the end of 2018 to see what their feelings on influencers were for the new year. Of those surveyed, 89% said ROI from influencer marketing was comparable to or better than other networks. The same survey noted that 65% of marketers plan on increasing their budgets for 2019.

How Artificial Intelligence Is Transforming Influencer Marketing

The use of artificial intelligence in influencer marketing is gaining traction just as it is in many other business sectors. Year after year, the process of working with influencers has gradually become more automated: from influencer search to brand affinity and content analysis, AI is providing a solution for a wide range of brands’ needs. Artificial intelligence is a branch of computer science that aims to create computers or machines with the ability to do things that would usually require natural or human intelligence. Influencer marketing software and platforms often use several different types of AI.

Meet Lil Miquela: the AI influencer taking over Instagram

Whether she’s posing in high fashion or modelling for our cover shoot, getting excited about her first Dr Woo tattoo or releasing her fourth, auto-tuned single, Miquela Sousa has all the makings of the next big social media influencer. Already 1.5 million people follow her on Instagram for her woke affiliations — ‘Black Lives Matter!’ — and her selfies with Prince Charles and Prince. Fashion’s flirtation with artificial intelligence is hotting up. Gucci recently collaborated with Erica, a talking robot in Osaka who, apparently, has a love of logoed knitwear, and last September, robots took to the catwalk at LFW to model the creations of LA designer Honee. And the fashion industry is not alone in its fetishisation of AI. Last year saw an explosion of ‘DeepFake’ porn, software that superimposes celebrity faces on to porn actors. Suddenly that Tupac hologram projected on stage at Coachella in 2012 seems positively quaint. If you want to learn more about how AI will change the world we wrote a post on AI and the future of Voice Search.