Thrive Analytics_ProductCamp Cincy_V2
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Thrive Analytics is a leading digital marketing research and customer engagement advisory firm with domestic and international capabilities. They provide consumer research, data analysis, advisory services, customer segmentation models, and loyalty programs. Their tools and technologies include online panels, data visualization, and a 360 degree connected experience. They have helped both media/agency companies and brands with digital advertising strategies. Their research shows most businesses now rely primarily on digital media like websites, search, social media, and mobile for marketing. Video is also becoming more accessible and effective for driving online actions and sales.
Thrive Analytics_ProductCamp Cincy_V2
- 1. Thrive Analytics Digital Media Success
- 2. Who we are, What we do… We are a leading digital marketing research and customer engagement advisory firm Domestic (U.S.) and International Capabilities Leading Edge Tools, Technologies & Processes Consumer Research/SMB Research/Online Panel Data Analysis and Visualization Advisory Services Customer Prioritization Models- Customer Segmentation Customer Experience- 360° Connected Experience™ Loyalty Research (NPS) and Loyalty Execution Guide 2© 2015 Thrive Analytics
- 3. Some of our Clients 3 Media/Agency Companies Companies/Brands © 2015 Thrive Analytics
- 4. Let’s Start At the Beginning Where is digital advertising making a real difference?
- 5. Marketing objectives vary by tenure © 2015 Thrive Analytics 5 78% 65% 62% 59% 55% 50% 12% 15% 13% 11% 11% 5% 10% 20% 25% 30% 34% 45% Less than 1 year 1-3 years 3-6 years 6-10 years 10-15 years 15+ years Acquire New Customers Build Brand Awareness Retain Current Customers Marketing Objective by Years in Business Source: Thrive Analytics, “Local Pulse Survey”, January 2015.
- 6. …this impacts the media mix. 27% 38% 46% 45% 43% 51% 73% 62% 54% 55% 57% 49% Less than 1 year 1-3 years 3-6 years 6-10 years 10-15 years 15+ years Traditional Media Digital Media © 2015 Thrive Analytics 6 Media Mix by Tenure of Business Source: Thrive Analytics, “Local Pulse Survey”, January 2015.
- 7. So what seems to be working? © 2015 Thrive Analytics 7 3% 4% 6% 6% 7% 7% 8% 8% 9% 9% 11% 11% 14% 15% 15% 15% 26% 39% 45% Blogging Press releases Television Radio Magazine Advertising Mobile advertising or marketing Online display advertising (e.g., banner ads) Online Video SEO/organic search visibility (ranking higher in Google search results) Outdoor advertising Event marketing Traditional newspapers Direct mail Internet yellow pages Paid search advertising (e.g., Google Adwords) Email marketing Print yellow pages Facebook and/or other social media sites (e.g., Twitter) Company Website Source: Thrive Analytics, “Local Pulse Survey”. January 2015. Promotional or Marketing Methods that have been most effective Growing fast Digital Dominates
- 8. Clearly … It all Starts With The Website 4 out of 5 Smartphone users prefer to use their smartphones when shopping If the site is not responsive, 99.5% of mobile users feel little or no need to proceed past the home or main page
- 9. Good Reasons to Love Social
- 10. 74% of businesses use social media and content marketing © 2015 Thrive Analytics 10 55% 22% 26% 10% 12% 15% 13% 33% 66% 30% 28% 15% 21% 16% 23% 26% Facebook Twitter Linkedin Pinterest YouTube Blogs Google+ I do not use social media 2015 2014 18% 15% 25% 25% 38% 42% 60% 7% 18% 30% 35% 50% 53% 70% I have no expectations It allows me to work better with partners It will reduce my marketing costs It adds credibility to my business It will engage my customers It will build brand awareness for my business It will generate leads for my business 2015 2014 Social media used for marketing/promotional efforts. Expectations when using social media for marketing purposes . Source: Thrive Analytics, “Local Pulse Surveys”, January 2014 & 2015.
- 11. The Value of Social Media Social Media Platform/Type of Social Connection Earned Media Value – Money paid for comparable media placement Blog Post (1 post per week) $853 – targeted, engaging content, high level of trust Facebook “Like” $1.60- Low barrier to like, limited commitment, smallest form of endorsement Facebook Fan $11.24 - Greater affiliation, active interest, greater engagement Facebook Share $10.17 - High interest level, pass along to extended network, active interest Twitter Follower $2.28 - Low barrier to follow, want to stay informed, active interest Twitter Tweets and Retweets $5.00 - Active endorsement, amplify message to larger audience YouTube Views $.38 - May be passive viewing or low engagement Pinterest Follower $5.00 - Visual engagement, high share rate Pinterest Pin $3.90 - Long shelf life on boards, viewable to a larger audience, high incidence of planned purchase SocialChorus Q1 2015 Numbers that Matter: Pinterest Average Purchase $105.83 Facebook Average Purchase $102.54
- 12. Facebook usage varies by business category and is primarily unpaid. © 2015 Thrive Analytics 12 Paid versus Unpaid Facebook Marketing Source: Thrive Analytics, “Local Pulse Surveys”, January 2015. 27% 20% 33% 14% 16% 17% 19% 73% 80% 67% 86% 84% 83% 81% Maintain & Repair At Your Service Build It Healthcare Lifestyle/Entertainment Professional Services All Unpaid Paid
- 13. Mobile Rings Up Traffic and Sales
- 14. In store usage continues to grow and influence purchase decisions. 14 18% 35% 34% 13% 22% 38% 30% 10% Every time Often Sometimes Never 2014 2015 How often do you use your smartphone while shopping in malls, grocery or retail stores? Source: Thrive Analytics, “Local SearchReport” 2014 & 2015. +11% +9% 54% look for deals in store. 51% compare prices in store. 39% look at reviews in store.
- 15. Mobile + Social = Impact 15 Pinterest: 75% of usage coming from mobile Facebook: 62% of revenue from mobile, 33% only access via mobile Yelp: 59% of searches from mobile devices YP: 50% of searches on YP’s network from mobile Twitter: 81% of revenue from mobile **Source: Company reports
- 16. Mobile Wallet: Speeding Purchase Decisions 16 • Starbucks: Mobile payment accounts for 15% of Starbucks revenue. (Growing at 20% per quarter) • PayPal: 15% of transaction volume ($27 billion) was mobile last year. (3 years ago it was just $600 million) • Average mobile purchase amount was $96 (average from all categories) Source: Company Reports
- 17. Mobile’s share of ecommerce grows 27% 29% 26% 27% 27% 28% 28% 29% 29% 30% Average 2014 Q1 - 2015 35% 38% 34% 34% 35% 35% 36% 36% 37% 37% 38% 38% 39% Top Quartile 2014 Q1 - 2015 10% of all US eCommerce transactions took place on an iPhone in Q1 2015. Mobile’s ecommerce share grew 10% in just one quarter Criterio State of Mobile Commerce Q1 2015
- 18. …Over 50% have clicked/tapped on a mobile ad because it provided timely and relevant content related to their search. 18 Consumers that have clicked/tapped on a mobile advertisement on their mobile device Source: Thrive Analytics, “Local Search Report” 2015. The main reasons the mobile ad motivated them to make a purchase 55% 45% Yes No 53% made a purchase 40% within the same day 78% within a few days 12% 25% 29% 38% 50% 56% The ads provided compelling information. The ads were personalized to me. The services or products in the ad were specific to my area… The ads featured a brand or company that I know. It provided an attractive discount or deal. The content was relevant to something I was already…
- 19. Mobile Influences Purchases 19 Traffic Conversion Basket Size Loyalty 90% of All Users have used their mobile devices while shopping. Consumers using mobile devices in- store convert at a 45% higher rate. “Mobile Fanatics” on average spend 35% more than they had originally planned. 70% of All Users stated information found on social media influences their perceptions of a particular item. Source: Thrive Analytics, “Local Search Report” 2015.
- 21. Online video is not just for national brands anymore. 7% 16% 12% 37% Less than $10K Greater than $10K Usage of Online Video by Annual Marketing Budget Size 2014 2015 21 Source: Thrive Analytics, 2014 & 2015 Small Business Advertising Surveys +131% +71%
- 22. Technology and marketplace pricing are making video more accessible • The emergence of video marketplace platforms utilizing technology to drive down production costs • Video marketplace platforms have introduced formula approaches to speed production and lower costs • No cost/low cost distribution channels (YouTube, Facebook, local directories) 22
- 23. Along the path to purchase, online video is driving sales Viewed an online video prior to a purchase (Past Month) 44% No company in mind 67% Avg. Number of ads viewed 3.8 After Viewing an Online Video- Contacted the company 53% • Contact via phone 40% • Contact via email 22% Visited company website 51% Visited the Store 33% Made a Purchase 71% Made a purchase the same day 51% 23 Source: Local Search Association, Local Media Tracking Study; N= 2,000 U.S. Adults. Engages Customers and Prospects Drives Actions That Matter
- 24. Digital Delivers Reach and brand awareness enhanced by affordable digital options Digital media allows a more personalized approach (targeting, segmentation) Local targeting means mobile AND social Content marketing makes dollars and cents (blogs, social media, website) Video is accessible and it works
- 25. Questions & Contact Info 25© 2015 Thrive Analytics Contact: Michael Taylor Phone: 937-567-0559 Email: michael.taylor@thriveanalytics.com Website: www.thriveanalytics.com Twitter: @localmediaguy