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A study was conducted recently by Facebook to understand the key friction points in the online purchase process. This was done in collaboration with the Boston Consulting Group, which is a leading management consulting firm. Customers nowadays pay a lot of focus on the ease of transacting. Shockingly, the report compiled by BCG showed that there was an overall loss of US$ 325 billion in the APAC region alone due to friction in the buying process. There ware awareness and information gaps in the process, plus the requirement towards tech optimization. Most of these gaps exist at the discovery phase alone. Facebook has thus published a new report titled Zero Friction Solutions pointing out the solutions to the above mentioned problems.

Source:https://www.socialmediatoday.com/news/facebook-releases-new-report-on-customer-friction-points-and-how-to-resolv/542733/

Uploaded Date:27 November 2018

Post the Great Recession, there was much talk about the irrelevance and shrinking place for retailers. While those worst of days have been put behind, the situation isn’t too much better now either with giants such as JC Penney and Sears struggling. But amidst all this gloom, Target and American Eagle Outfitters have both reported growth and increased traffic. Part of the reason is digital marketing practiced by the data-driven companies. They now have hordes of data available which they use scientifically for eliciting insights about customers. Target has such a fine marketing policy and high budget, that the company has become a beacon for talent recruitment of such marketing professionals. Macy’s is also in the process of restructuring. Amazon needs to work on its in-store data, an area where Wal-Mart has already excelled in. A report submitted by PwC confirms that social media is now the top online source for consumers’ purchase decision-making. This activity is now increasingly being carried out over the mobile phone, with numbers having doubled in the past few years. While the omnichannel customer experience will rise in need, equally there will be a demand for improved execution.

Source:https://adexchanger.com/data-driven-thinking/retailer-survival-and-the-role-of-digital-marketing/

Uploaded Date:23 November 2018

One of the greatest challenges for digital marketers is gauging which marketing campaigns on what platform were more successful. The metrics provided by Google Analytics or Facebook ads paint only half the story. Now with buyer journeys getting more complex, and with increasing investment in digital marketing, Facebook in particular has tried to bridge this gap through its attribution deep dive. Marketers have longed for attribution data from the beginning, since it is challenging to understand which part of the investment really paid off. It involves two components- the customer journey map and the applied model. Attribution is no longer linear but involves a complex interaction of touch points. Facebook now allows data warehousing from only a limited few platforms, as those allow for preconfigured connections. These are App Nexus, Bing Ads, Flash talking, Google Ads, Google Campaign Manager, Google Search Ads 360, Sizmek and Jampp. This new model will allow Facebook to capture a lot of the visits and subsequent conversions that Google sits on top of. The biggest challenge for Facebook though is that data sources are finite. The model application too will take time and employees will need specific training to take on this model.

Source:https://marketingland.com/facebook-attribution-deep-dive-democratizing-attribution-for-digital-marketers-251634

Uploaded Date:17 November 2018

There are several ways in which the ad industry has been altered by the presence of digital marketing as a game changer. Communication is now expected to be instant. A greater level of transparency is now expected of the brands. Due to the enormous quantities of data warehousing now taking place, no marketer can complain about the lack of business insights. The role of micro-influencers has expanded. No brand can now remain on top forever. As a result of the constant churn, brands are forever playing catch up. All this has forced marketers to device more innovative methods to breach the market. Brands can no longer remain remote, but are indeed more human-centric.

Source:https://www.mediaupdate.co.za/marketing/145822/seven-ways-digital-marketing-has-changed-the-ad-industry

Uploaded Date:12 November 2018

The gap between traditional and digital customers has narrowed down. Legacy companies are also engaged in digital marketing while digital natives have realized the benefits of the brick-and-mortar format. Since this is now such a crowded place, some rules have been delineated for winning the game of automated marketing. First of all, marketing needs to optimize to achieve growth and not efficiency. The right customers need to be identified and then all steps taken to bring them into the fold. Long-term performance metrics are being tracked for this. An example of this is CLV (Customer Lifetime Value). Meaningful relations need to be forged with customers so that personalized content can be provided and repeat customers in tow. The creative components need to be creatively designed so that customers may be advised accordingly. Finally, marketers need to understand that in the present age, no campaign can ever succeed without a mobile-first strategy.

Source:https://www.forbes.com/sites/briansolis/2018/11/08/marketing-in-the-age-of-machine-learning/#16e8eeb35f27

Uploaded Date:10 November 2018

Google is by far the world’s largest platform for digital marketing, capturing 92% share across all platforms and generating over a hundred billion dollars’ worth of ad revenue each month. These ads are routed via several agencies, who have immense competition between them. Google Ads thus works on the auction principle. Keyword tracking here becomes essential to gauge business intelligence on what terms and phrases used are leading to greater revenues. One such company is Fastbase, which has developed an algorithm to help companies optimize what they ought to be searching for. More than a billion websites are scanned each week using Google Analytics. In addition, it uses Google In Market Leads to help track keywords, time period and the location for searches. This then prepares a report on what companies searched for which information, so that targeted ads can be provided to them.

Source:https://www.prnewswire.com/news-releases/digital-marketing-agencies-and-seo-providers-boost-business-and-lead-generation-with-new-software-powered-by-fastbase-300745787.html

Uploaded Date:10 November 2018

Marketing automation has really caught up big, so companies are investing in it for the near future. Some trends have been identified that show how the future will shape up. Most of the experienced players have by now realized that there is no substitute for constant experimentation and testing. This generates the kind of business intelligence needed to understand the product or market. There is a shift that has emerged in favor of omni-channel marketing. Due to the new data privacy laws and increased regulations, especially in Europe, “permission marketing” has remerged into the mainstream. Social media is proving to be the star player for digital marketing. The methods have not remained static but constantly evolved. Customers rely on social media platforms more than ever before for their purchase decision. A need has been felt for newer ways to broadcast content. The communication style has to be matched to the medium selected.

Source:https://www.martechadvisor.com/articles/marketing-automation-2/5-trends-that-will-define-the-future-of-marketing-automation/

Uploaded Date:10 November 2018

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