Social Media 401 Notes: 8 Technology Trends

Hosted by LASEC (Los Angeles Sports & Entertainment Commission) – Designed to encourage sharing of information and business development between our board members and partners.

Speaker: Kyle Lacy from Exact Target

Topic: 8 Technology Trends Disrupting Business

Presentation Deck here:

Key Points:
1. 93% of U.S. online consumers are email subscribers, and receive at least one permission-based email each day. – Channel Preference Survey, ExactTarget
2. 75% of social media users say email is the best way for companies to communicate. – Channel Preference Survey, ExactTarget
3. 66% of U.S. consumers have made a purchase as a result of an offer received by email. – Channel Preference Survey, ExactTarget
4. 49% of consumers want a seamless shopping experience across all channels. – Accenture
5. 1 in 3 consumers use their mobile phone to research products in-store. – Cisco Internet Business Group
6. 48% of all emails sent are now opened and read on a mobile device. – Return Path
7. 63% of US consumers say they delete emails immediately if they are not optimized for mobile. – Return Path
8. 19 million unique people composed 263 million Tweets about live TV in Q2 2013 alone. – SocialGuide / Nielsen
9. 41% of consumers buy more from retailers who send personalized emails based on past buying behaviors. – Return Path
10. 15-25% increase in sales if the transactional message includes personalized product recommendations. – iGoDigital

Business Disruption

Session notes:

8 trends:
1. Moment Matter
2. Consumer Mobility
3. Brand Localization
4. Wearable Tech
5. Personalization
6. Collaborative Consumption
7. YouTility
8. Data Equals Relevance

It’s about what’s now, not what’s next
– I don’t care what’s in the future, i.e. google glass – has it hit mass consumption yet?
– Don’t need to spend so much money on things that haven’t happened yet
– Can you speak to the individual? That is responsible marketing

Trend 1: Moments Matter
– customer life cycle: awareness, evaluation, purchase, usage, repurchase, advocacy
– have to get to the point across quickly
– customer is your best storyteller
– deliver messages not based off our opinion but rather off customers experience
– you need to have creativity AND data

Trend 2: Consumer Mobility
– 1 in 3 consumers research purchases on their mobile devices
– 48% of all emails are opened on a mobile device – this is important for design
– 63% of consumers delete emails not optimized for mobile
– 60% active users access twitter through mobile
– have to remember the customer experience

Trend 3: Brand Localization
– Pay all through my mobile app as you walk into stores
– Uber is the best thing to happen to transportation
– Major law coming out about mobile and permission needed

Trend 4: Wearable Technology
– fitbit, fuel band

+ RESPONSIBLE MARKETING – Treat each user as an individual (Click to Tweet This)

Trend 5: Content Personalization
– 41% of consumers buy more from retailers who send personal info
– fab lab – custom selling tool, will get a follow-up email
– 15-25% increase in sales if message includes personal product recommendation

Trend 6: Collaborative Consumption
– Companies have to compete on the same turf as our family and friends (on your Facebook page)
– Crowd fund my car purchase
– Fashion site – people post “selfies” of purchases they made
– Task rabbit – someone else will do something for you for a price

Trend 7: Youtility
– Read youtility from Jay Baer – Youtility is marketing upside down
– – sends you emails on how to maintain your house better
– Phoenix Children’s Hospital created an app to help people buy a car seat – much more useful and helpful than a photo of a doctor
– Educational in nature is the way to market
– RunPee – bought by AMC theatres because it was helpful
– Is your marketing great and would people pay for it?

Trend 8: Data equals Relevance
– if you aren’t competing for the future, you will be irrelevant in the future
– Marriott rewards mobile app – sometimes it works, sometimes it doesn’t – may make me want to switch in the future

Data Points:
– Empathy – Understanding emotions or state of thinking
– Perspecitve taking – Understanding someone’s true interests
– We must move from numbers keeping score to numbers driving better actions

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