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5 Key Digital Marketing Trends for 2013

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See which new technologies made the list this year, as well their specific implications for marketers. …

See which new technologies made the list this year, as well their specific implications for marketers.

For more ways to stay ahead of the curve, visit hawkpartners.com

Published in: Business, Technology

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  • 1. 5 Digital Marketing Trends for Companies to Watch in 2013 For further information contact: Scott Wilkerson Scott.wilkerson@hawkpartners.com 301 951-7046 October 2012
  • 2. 2 2013 Lookout: 5 Digital Marketing Trends to Watch 1 2 3 4 5 Companies become more active and comfortable with social media Mobile wallet is coming soon…but the winning payment technology is still in flux Personalized offers powered by Big Data take off Integration of TV, social media, and mobile channels becomes “must have” Brands up their game in Hispanic marketing
  • 3. 3 Companies become more active and comfortable with social media What’s Likely to Happen in 2013? Implications for Marketers • Customer expectations will shift from merely liking brands to expecting valued content in the form of entertainment, information and/or discounts • Companies will migrate from merely having an online presence to develop a more consistent, holistic social media experience • “Gameification,” crowdsourcing and incentivization will help Brands to differentiate their social media presence “[The] rapid pace of change makes a “fast follower” strategy for mobile wallets dangerous since it will be difficult to catch up to the market leaders. Rather, banks should be working now to deliver the services required to ease the consumer pain points within their current product suite and to build the foundation to quickly support mobile wallet features as they become more technically supportable. Who’s leading the trend? Poses questions to SBOs on social media, using content tied to current events and holidays  Experiment with different ways to engage with customers and manage – not control – the conversation that is already taking place  Consider “Gameification,” crowdsourcing and incentivization opportunities Source: The Social Banker Social media lessons from banking insiders , KPMG, April 2012 fastcompany, Social Media Survey Private Banks 2012, tumblr.com Do us a Flavor contest through multpile channels, including facebook where customers can submit their own flavors for consideration Ford gave 100 indie "agents" a free Fiesta for publicly 'lifecasting' their experiences with the car, including bloggers, filmmakers, and social networkers who were already documenting and sharing their lives. 1
  • 4. 4 Mobile wallet is coming soon…but the winning payment technology is still in flux Source: Mediawhiz, Banking Strategies, FierceMobileContent, imediaconnection, endgadget What’s Likely to Happen in 2013? Implications for Marketers Continue to test and learn – and remain open to other potential technologies for mobile wallet Consider exploring analogues (e.g., case studies of disruptive technology) and performing scenario analysis to anticipate change • Competing technologies and providers continue to battle 2012 saw both trials of new technology (Starbucks & Square partnership) and setbacks in established technology (lack of Near Field Communications (NFC) adaptability in Apple’s iPhone 5 & delayed NFC payment system rollout for Isis) • Expect greater experimentation with strategies and technologies (both existing and new) in the mobile payments race “[The] rapid pace of change makes a “fast follower” strategy for mobile wallets dangerous since it will be difficult to catch up to the market leaders. Rather, banks should be working now to deliver the services required to ease the consumer pain points within their current product suite and to build the foundation to quickly support mobile wallet features as they become more technically supportable. Who’s Leading the Trend? Opted for barcodes over NFC adaptability for its iPhone 5 Passbook wallet but may incorporate the technology in its next version 2 Rumors are circulating of a Google Wallet carrier & retailer partnership strategy shift Are bringing mobile payments to a broader audience Continues to fine-tune its highly anticipated NFC-based payment system
  • 5. 5 Personalized offers powered by Big Data take off Source: Bank Technology News What’s Likely to Happen in 2013? Implications for Marketers • A new generation of more sophisticated CRM systems enable integration of data from multiple channels – transactional data from POS, online and call centers, loyalty programs, social media, and mobile/location-based behavioral data • Through use of powerful predictive modeling software, Companies will deliver targeted offers to customers, with personalized messages, delivered at the right time and place “[The] rapid pace of change makes a “fast follower” strategy for mobile wallets dangerous since it will be difficult to catch up to the market leaders. Rather, banks should be working now to deliver the services required to ease the consumer pain points within their current product suite and to build the foundation to quickly support mobile wallet features as they become more technically supportable. Who’s leading the trend? "Just for U" program offers loyalty program members personalized offers/pricing Large-scale data mining using Acxiom data to predict consumer behavior Lifecycle segmentation to predict future needs Personalized mobile offers based on behavior and location  Consider greater use of lifestage segmentation to predict future needs  360 degree view of customer will require more integrated data warehouses, as well as processes to deliver customer intelligence to staff within branch, mobile, and online channels 3
  • 6. 6 Integration of TV, social media, and mobile channels becomes “must have” What’s Likely to Happen in 2013? Implications for Marketers Consider additional customer engagement components in national TV ads Marketing & Product teams can work together across channels to achieve an interactive (and interesting!) marketing experience for customers • Customers, especially Gen Y, will increasingly expect to “interact” with TV ads via mobile and social media • Companies will experiment with marketing campaigns that are less “siloed” and more integrated across channels A recent Google survey concluded that consumers had 74% brand recall when the advertisers integrated strategy carried across mobile, TV and online “[The] rapid pace of change makes a “fast follower” strategy for mobile wallets dangerous since it will be difficult to catch up to the market leaders. Rather, banks should be working now to deliver the services required to ease the consumer pain points within their current product suite and to build the foundation to quickly support mobile wallet features as they become more technically supportable. Who’s leading the trend? Recently developed a “Social Sidelines” page for college football fans to comment and interact The Voice TV show has a “gold standard” social interactive platform where fans can interact with performers via FB and Twitter; judges also tweet during the show Includes a #AMEX SYNC call- to-action in TV ads, and the Sync team replies with offers Source: www.mediabistro.com, www.mashable.com, 4
  • 7. 7 Companies up their game in Hispanic marketing Source: CNNMoney, Federal Reserve, Nielsen Report, US Census Bureau, Strategic Growth Concepts, Forbes What’s Likely to Happen in 2013? Implications for Marketers • Hispanics continue to grow in numbers, becoming largest ethnicity in CA, and buying power, reaching $1.5 trillion annually by 2015 • Brands will be more culturally relevant and language- appropriate in their communications and products targeted to Hispanics • Brands will move from digital experimentation to delivery – offering Spanish-language interactivity in social media and on mobile. 71% of Hispanics consume content on mobile versus the market average of 48% “[The] rapid pace of change makes a “fast follower” strategy for mobile wallets dangerous since it will be difficult to catch up to the market leaders. Rather, banks should be working now to deliver the services required to ease the consumer pain points within their current product suite and to build the foundation to quickly support mobile wallet features as they become more technically supportable. Who’s Leading the Trend?  Revamp product development and communications efforts to increase relevance and consideration among Hispanics  Consider opportunity to take lead in Spanish-language digital – being one of the first Brands to offer Spanish language mobile interactivity, and a Spanish web experience on par with the English version Robust financial education initiative teaches money management to adults, teens and kids; WF also buys the most relevant Spanish Google key words Procter & Gamble saw success with a Cover Girl campaign that included a Mis Quince (Sweet 15) contest that ran on some 10 mobile properties, including Univision, ElleGirl and Sprint's carrier deck IKEA recently launched a catalog app entirely in Spanish 5
  • 8. 8 Scott Wilkerson Scott.wilkerson@hawkpartners.com 301 951-7046 www.hawkpartners.com Follow us on twitter: @HawkPartners Follow us on Facebook: HawkPartners For more information, contact: