Tag Archive | "industry"

Fast-growing online dollar store Hollar launches its own private label goods

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Report: Southeast Asia’s internet economy to grow to $200B by 2025

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What will be announced at Google I/O 2016? Here’s what we expect

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HP’s 3D printers pave the way for an interesting future

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Screen Shot 2016-05-17 at 9.36.40 AM

The Biggest Problem With Micro-Influencers (and How to Solve It)

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By now, you’ve probably heard the phrase, “the rise of the micro-influencers.” Although they may not have the reach of the massive mega-stars, when it comes to audience engagement, these micro-influencers are niche celebrities who are giving the big guns a run for their money.

As reach alone is becoming a far less important metric, the proposition of these engagement-driving micro-influencers is looking even better for brands looking to connect with their audiences.

But what exactly is a micro influencer? The short (and frustratingly vague) answer is, “an influencer with a smaller audience than a ‘macro-influencer.’”

Some in the industry attribute the title to influencers with under 10,000 followers. Others say between 500 and 5,000. Rather than drawing an arbitrary line in the sand and getting caught up in the details of definitions, it’s best to take a look at micro-influencers in terms of what they can do and why they are beneficial for brands.

What do diamond rings and micro-influencers have in common?

When you see a sparkly diamond ring on the finger of a proud and happy woman, you think of one thing: engagement. And when you think of micro-influencers, the same word should pop to mind.

Although its importance is not news to anyone in the industry, engagement rate is now muscling its way into the spotlight. Standing behind it are legions of micro-influencers—influencers who, despite a smaller reach, deliver great bang for the buck when it comes to engagement.

A recent study reported in Digiday states that Instagram followers with under 1,000 followers have a like rate of about 8 percent. Those with 1,000 to 10,000 have a rate around 4 percent. As the follower rate grows, engagement drops even further.

Those with fewer followers are often seen as more trustworthy and more authentic. Their opinions carry weight and their audiences are loyal. Many of them have grown along with the influencer–all of this leading toward all-important engagement.

Although engagement rate is undeniably important, influencer marketers aren’t yet beating down their door with wads of cash in hand. The reason?

It’s all in the name—micro-influence = micro-reach

In an ironic twist, despite superior engagement rates, they simply don’t have the reach that many brands need. The obvious solution for brands is to engage with multiple micro-influencers, spreading that influencer marketing investment across a range, rather than investing it all in one big-gun celebrity.

Effective? Yes, but a big drain on resources. Running such a volume of campaigns requires time. It takes effort. Simply put, the more influencers you work with, the more work is involved.

From finding the right influencers, to developing and managing campaigns, to measuring results, you can almost see the stress tic on the poor social media manager’s face as he or she considers the mountain of work ahead to execute this micro influencer plan–the more manual the work involved, the less benefit it actually has.

But it appears that there may be a solution to this problem.

Making everything just that bit easier

As influencer marketing becomes more sophisticated, we continue to see it fracturing into smaller niches. The spheres of influence are becoming smaller and more effective. But juggling more balls (spheres) takes more effort, even though the results may be better.

Enter the influencer marketing platform: A relatively new development in our industry, these software-as-a-service platforms provide a series of tools to help automate and simplify the process of influencer marketing.

By making it easier for brands to find the right influencers and manage entire campaigns within a single platform, we can expect brands to spend less time on the tedium and more time developing good campaigns.

Most important, it will make it easier to find and manage multiple micro-influencers in single campaigns, thus making them an even more valuable part of the influencer marketing landscape.

Although grade-A celebrities with mega-reach are still important, influencer marketing platforms are a natural response to the need to manage this burgeoning group of micro-influencers. Throw in a little creativity and collaboration and we are beginning an exciting new phase in the industry.

Francis Trapp is CEO of Brandnew IO, a platform for global influencer marketing.
Portrait Francis Trapp Hintergrund

Image courtesy of Shutterstock.

Article courtesy of SocialTimes

What bubble? USV’s Fred Wilson says the future of tech investing remains strong

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Fred Wilson

Why Programmatic is the Future of Digital Display Advertising (Infographic)

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Advertisers always seem to be chasing the next big thing. The current emerging trend is programmatic buying–data-based, highly targeted, automatic ad buys and placements–and marketers are starting to invest heavily. An infographic from OwnerIQ shows that programmatic is already capturing large segments of the ad market.

Marketers have already realized the power of programmatic advertising, and 96 percent of those surveyed are already using it to buy display ads. In 2015 $14.88 billion worth of U.S. ads, fully 55 percent of digital display ads, were purchased programmatically. In total, 52 percent of all non-search digital ad transactions were programmatic.

The infographic predicts that these methods could come to eclipse all others, and that 90 percent of the ad market could be steered programmatically within one decade. This year, programmatic will account for 63 percent of display ad spending, and by the end of 2017, sales are expected to increase to $32 billion. By 2020, programmatic could account for 85 percent of targeted banners and 67 percent of streaming video ads.

Ad fraud is a growing problem within the ad industry in general, and it is a cause for concern. Programmatic buying, along with due diligence, could help weed out fraud and deliver impactful ads to real viewers. Programmatic ads are viewable at a rate of 44 percent to 55 percent, in line with industry benchmarks, and the industry average for suspicious activity is only 16 percent, which is substantially lower than regular display ad fraud rates.

For more information, and other predictions for the future of programmatic, view the infographic below:

OwnerIQProgrammaticAdvertisingInfographic

Article courtesy of SocialTimes

CrowdBuilder is a new app that’s taking on the fragmented event promoter market

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No one organizes any crime on Slack, apparently

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What Should We Do With All of That Content?

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As more users worldwide gain access to the internet and existing users engage more, the rate of content creation by users has increased exponentially. It’s not like data and information saturation is new; we’ve been dealing with it for years. The solution most companies seem to be driving toward is recommendations, curated feeds and algorithmic content surfacing.

Peter Asbill, head of streaming for Google Play Music, told Wired:

Having all of this amazing curated content doesn’t really matter at all unless it’s delivered accurately to the right person at the right moment … f you’re a country fan and I’m delivering you a metal experience, then who cares? It doesn’t matter how good a metal playlist it is, it’s the wrong thing.

A shortage of content can certainly hinder a burgeoning startup, but a ubiquity of content can present its own problems. How are users supposed to find the content they want and, more important, how are they supposed to discover content that they may not know they want? Without a steady stream of content, users could easily become bored of a site or service and simply engage less.

The problem faced by many sites, especially the larger social sites, is the overwhelming mass of uploads. According to Wired, YouTube users upload 400 hours of video content every minute, and on Instagram, there are 80 million uploads per day. While it’s safe to assume no one user is going to wade through that content, the companies have to if they wish to surface the highlights.

For YouTube, the solution was to update its mobile applications to lead with recommended content chosen through artificial neural networks. Instagram is also testing algorithms for its content in an attempt to control and direct the deluge of posts on the site. Facebook’s algorithm is a complex environment of interconnected systems that seems to get more difficult to navigate every year.

As sites like Twitter and Instagram toy with algorithmic models, it’s clear that this will likely become the industry standard in the future. While it may seem like a negative outcome for users, social networks will likely see better view rates or higher levels of interaction on posts. However, if these systems are implemented poorly, it could a negative impact on both social marketers and the user experience.

Image courtesy of Shutterstock.

Article courtesy of SocialTimes

May 2016
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