IAB: Social media still has a lot of growing up to do

Social media still has a lot of growing up to do, say marketers from both agencies and client-side, of which 3 in 10 say they do not believe social media yet has an important role in the overall marketing function….

….The survey found that, currently, less than half (43%) of social campaigns were integrated into the wider marketing function and more than half of brands never measure social media ROI. Agencies, on the other hand were more likely to measure social ROI with 35% claiming to do so some of the time…..

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Source: BizReport

Holiday Shopping Is Chilly for ‘Buy’ Buttons at Twitter, Facebook and Pinterest

Ecommerce isn’t the same landscape for everyone. Mike Shields reports for The Wall Street Journal that a specific breed of aspirational, lifestyle retailers, such as trendy home decor or wedding-centric outlets, are driving massive shares of their traffic via Pinterest. But for the 10,000 largest retailers, on average only 4% of all traffic comes via social media. Social media companies are fighting to become important pit stops in the digital shopping funnel, but it’s not so easy. Related: Social buy buttons and direct commerce on social media have largely been a dud.

Source: Mike Shields: Wall Street Journal and Jason Del Ray <re/code>

Cart abandonment rates lower for charities than other sectors

Charity websites have far lower rates of cart abandonment than those in other sectors, according to new research released by ecommerce platform provider Ve Interactive, along with higher rates of triggering transaction completion via email.

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Source: Biz Report

Ten New Findings About The Millennial Consumer

Companies are fiercely competing for millennial mindshare and it’s only the beginning. There are eighty million millennials in America alone and they represent about a fourth of the entire population, with $200 billion in annual buying power.  They have a lot of influence over older generations and are trendsetters across all industries from fashion to food. Companies have been struggling connecting with this generation because many of the traditional methods of advertising have proven ineffective at capturing their attention. Furthermore, many companies believe in certain myths about millennials that are just plain inaccurate, including that they aren’t brand loyal.

1. They aren’t influenced at all by advertising.

Only 1% of millennials surveyed said that a compelling advertisement would make them trust a brand more. Millennials believe that advertising is all spin and not authentic. That’s why they use Tivo to skip commercials regularly and avoid banner advertisements on Facebook and various news websites.

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Source: Forbes

Here’s Why Consumers Can’t Get Enough of Brand Content

Instagram is by far the leader

Advertisers have something to celebrate: people are clicking on brand content so much that the rate of engagement is growing faster than brands are putting out new content.

According to new data from the firm Shareablee, in the first quarter of 2015 people engaged with brand content in the U.S. 52% more frequently than during the same time period last year. Read More

 

Source: Time

Social Media Engagement With Brand Content Soared 52% Last Quarter

People engaged with U.S. brand content 52% more often in the first quarter of this year than they did a year ago, and their engagement is growing faster even than the rate at which brands are pumping content out, according to data on 100,000 brands from social-analytics firm Shareablee.

In all, people liked, shared, favorited or commented on brand content across Facebook, Instagram and Twitter nearly 13 billion times in the first quarter alone, and it was people’s engagement rates rather than brands putting out more content that drove most of that big increase.

On Twitter, average posts per brand rose 16%, but average “actions per brand,” such as favorites or retweets, rose at twice that rate – 32%. By far the biggest driver of increased engagement was Instagram, which saw brand fans rise 138%, posts per brand rise 21% and consumer engagement with brand content double to 1.9 million actions per brand – more than 20 times the rate of Twitter and nearly three times the rate of parent Facebook.

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Source: Ad Age

TV ‘less and less relevant’, says Bacardi marketing boss as brand trials programmatic

 

Bacardi is set to distance itself from TV-led advertising with the drinks firms suggested some of its brands may shift their entire budget to social and digital marketing as it looks to target the younger market.

Global chief marketing office Dima Ivanov refused to completely rule out further TV advertising but said he “sits in the camp” of those who believe the medium has had its day.

“I would agree with that [that TV has become less relevant] and it is proven by the fact how much time the younger generation spend watching any TV program,” he told Mumbrella. Read More….

Source: Mumbrella

How Popular is Instagram With Youth?

It’s well established at this point that Instagram’s users skew young, and recent research suggests that it is now teens’ most important social network. New data from a Shareablee and comScore webinar shared with MarketingCharts confirm Instagram’s popularity among young adults, indicating that 18-34-year-olds spend more time on Instagram than on Twitter and Tumblr, combined. Interestingly, though, while Instagram’s smartphone audience skews heavily towards younger age groups, the age composition of the platform’s tablet audience reveals a slightly different pattern.

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Source: Marketing Charts | June 2, 2014