2014 Marketing Trends & Opportunities
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2014 Marketing Trends & Opportunities

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A look at 8 emerging trends and opportunities for marketers, advertisers, and brand managers in 2014.

A look at 8 emerging trends and opportunities for marketers, advertisers, and brand managers in 2014.

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  • 1. 2014 MARKETING TRENDS 8 emerging opportunities for marketers, advertisers, and brand managers in 2014.
  • 2. How this report was created By sitting with some of the best young minds I know. The great young talent that contributed their insights to this report aren’t the “personal brand” types, or the personal promoters. These folks are the go-getters, the people who never stop learning, are relentless in building their businesses, and work on the front lines and in the trenches of their industry. They live and breath this stuff. A big thanks goes out to those folks! Amy Schmittauer Vlog Boss Studios David Sherry Brand Swell Carolyn Kent EXPRESS Christina Christian Jeni’s Splendid Ice Creams Amanda Larrinaga Modern Entrepreneur Matthew Russo 30 Lines Steve Michalovich The Scotts Miracle-Gro Company
  • 3. 8 Areas To Watch in 2014 These 8 areas to watch represent opportunities to implement strategies in emerging marketing categories. These are the areas where first adopters are playing and where consumers are beginning to gravitate. 5   Growing impact of community managers on the organization 2   Retailers benefiting from social & mobile 6   Niche social media networks proving beneficial for marketers 3   Shifts in how people find and share news 7   Privacy & security becoming marketing strategies 4   Brands evolving as media creators & owners 8   Stories are bigger than big data 1   Consumers increasingly connecting with video 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 4. CONSUMERS INCREASINGLY CONNECTING WITH VIDEO
  • 5. Investment in video to increase in 2014 86% of brands are planning to increase their video ad spend in 2014. That’s because video is creating a connection with and spurring actions by consumers. After viewing a video online, consumers are 64% more likely to purchase than after viewing a text ad. And after viewing a product demo video, they are 85% more likely to follow through with a purchase. “If you're still saying 'video is nice to have' then you're behind. To make an impression and really stir emotion in your audience so that they will not only remember you but act accordingly, you must incorporate video into your communications strategy.” - Amy Schmittauer, President, Vlog Boss Studios Source:  Adap.tv’s  Q4  2013  State  of  Video  Industry  Report   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 6. Pop culture is driving video sharing on social networks 40% of the 1,000 most shared videos on Instagram are from brands MTV is the most shared brand on Instagram, generating 134,110 shares across Facebook, Twitter and the blogosphere (this also tells us something about the demographic of heavy Instagram users - millennials). The 2 most popular verticals in the top 1,000 are Entertainment and then Clothing and Apparel. 9 out of 10 Instagram video shares occurred on Facebook 14 of the top 20 most shared user-generated Instagram videos came from Justin Bieber, with his top three videos generating a total of 522,029 shares. Source:  UnrulyMedia.com/insight   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 7. 3 new trends driving branded video creation and success Small brands driving creativity - helloflo.com Hello Flo, a feminine care subscription service, created an awkwardly comical concept “The Camp Gyno” that sparked a controversial debate on how we educate young girls on feminine issues. Social good messaging – bit.ly/YasiinBeyHunger Rapper and Hollywood star Mos Def (Yaslin Bey) took to social media to share the experience and treatment of detainees on hunger strike at Guantanamo Bay by being force feed in the same manner. The video is disturbing and powerful. Pepsi MAX impersonators – pepsimax.com A disguised race car driver on a test drive and an NBA player looking more like a grandpa has lead to tens of millions of views for Pepsi MAX as these undercover athletes terrify and wow their victims, respectively, much to the delight of online viewers. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 8. RETAILERS BENEFITING FROM SOCIAL & MOBILE
  • 9. Is “showrooming” good or bad for retailers? ShowŸroomŸing [verb] A phenomenon whereby shoppers visit stores to examine merchandise in person before buying the items online. DID YOU KNOW….26% of social media users report visiting a store to view a product only to go online to find the best deal. IN FACT….4 in 10 shoppers will comparison shop from a mobile device while they are in the store. BUT… 41% said they practice “reverse showrooming”— browsing online and then purchasing in stores. “Retailers must take a "mobile first" mentality in any marketing campaign or digital strategy to deliver a true omnichannel approach to engaging with customers in social, and affecting both online and in-store traffic and sales.”   -Carolyn Kent, Social Media & Mobile Marketing Manager, EXPRESS Source:  Vision  CriKcal  &  Harvard  Business  Review   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 10. Pinterest is an especially popular driver of in-store sales Of surveyed Pinterest users. . .   79% say that pinning an item influences their decision to buy it. 21% say they have bought an item in-store after pinning, repinning, or liking it. 36% of those who have bought an item after pinning, repinning, or liking it are under 35. Source:  Vision  CriKcal  &  Harvard  Business  Review   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 11. Shortening retail sales cycles and increasing digital marketing ROI Pinterest isn’t just a driver of web traffic. The social platform introduces more qualified customers to stores. In fact, customers from Pinterest are 10% more likely to buy and they spend the most per purchase than any other social network or search engine (average per purchase order is $80). In the 2nd half of 2013, orders from pins have more than quadrupled. “Pinterest offers not only a more curated experience, but a more controlled one. It makes not only the audience more qualified (for businesses) but makes it easier for consumers to find what they’re looking for—making it an overall better experience.“ - Amanda Larrinaga, Founder, Modern Entrepreneur Source:  How  Pinterest  Drives  Ecommerce  Sales   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 12. SHIFTS IN HOW PEOPLE FIND AND SHARE NEWS
  • 13. Social media is changing the way people get and share the news Facebook news sharing driven by family & friends The percentage of people who get most of their news links from… News Outlets Family/Friends 70% 36% Source:  Pew  Research  Center’s  Excellence  in  Journalism   13% 27% 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 14. Facebook not a news destination, but a source for news and current events Facebook is proving to be an emerging strategy for news outlets who are losing the traditional TV and print consumers. Ironically, only 4% of people report using Facebook as a primary news source; but 47% admit that the social network is one of their top sources of news and current events. 38% of Facebook news consumers who say they follow the news all or most of the time say Facebook is an important way they get news …that percentage rises to 46% among those who say they follow news some of the time …and increases to 48% among those who follow news less often Source:  Facebook  News  Survey  Aug.  21-­‐Sept.  2,  2013,  Pew  Research  Center   2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 15. News feeds shift focus to deliver more quality news content LinkedIn Launches LinkedIn Pulse In April 2013, LinkedIn acquired news reader and mobile content distribution company Pulse. Seven months later, LinkedIn announced the launch of LinkedIn Pulse, a personalized news feed based on your LinkedIn network. This integration signals LinkedIn’s migration from a job hunting site to a technology-powered media company. Facebook Focuses on Showing More “High Quality Content” During the first week of December 2013, Facebook announced changes to it’s all important News Feed algorithm in hopes of promoting “high quality content” (and less kitten memes). The changes have seen online publishers experience unprecedented referral traffic and is creating a ripple throughout the entire news industry. Guardian Says Twitter Surpassing Other Social Media For News Traffic During a July 2013 Twitter event for CEOs, Andrew Miller, Guardian News & Media CEO said that 10% of the newspapers online traffic was now coming from social media and that Twitter is at the core of the newspaper’s digital marketing strategy. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 16. BRANDS EVOLVING AS MEDIA CREATORS & OWNERS
  • 17. Inbound marketing activities taking over digital marketing strategy Content creation and management account for the 2nd largest share of brands digital marketing budgets. This seems to be driven, in part, by the desire to populate the nearly infinite customer touch points and inbound marketing channels being created by mobile and social technology. Today’s customer journey is very dynamic. Humans are constantly checking text messages, Facebook notifications, @replies, bank transactions, emails, and calendars. The customer touch points are woven throughout this maze digital habits. The challenge for marketers is that this is all done dynamically, no routine, no process, just random acts of content consumption each and every day. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 18. Virgin is becoming the standard for brands as media companies Lead by it’s billionaire founder Richard Branson, Virgin has become a leader in creating it’s own content to support its company mission and brands. “Tell your story on your own. It's more authentic that way. Companies need to act as their own media companies, producing compelling, dynamic content regularly. In addition, you must engage in the dialogue that is already occurring around your company, product, cause, or brand.” -Steve Michalovich, Interactive Marketing The Scotts Miracle-Gro Company 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 19. Your Brand: The Next Media Company In the 2013 book Your Brand: The Next Media Company, author Michael Brito shared 5 characteristics of media companies that brands should encompass when creating their own content. Media companies. . . 1)  Produce massive amounts of content 2)  Provide content that is relevant to their audience at a particular moment of time 3)  Deliver content that is fresh, recent, and breaking 4)  Are present everywhere and leverage multiple channels 5)  Move quickly and aren’t held back my approvals and lawyers 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 20. The best opportunity to capitalize in 2014 Experienced marketers have always been great at assembling large audiences. The missed opportunity is assembling an audience that will ultimately deliver the real bump in ROI brands are seeking. Assembling an audience or creating a community does not deliver ROI on it’s own—it merely creates the opportunity to start a conversation that can eventually deliver ROI. What marketers should be focused on in 2014 •  Developing the skillset required not only to lead a conversation and build your community but converting these communities into a tangible ROI •  Targeting positive ROI over the long haul and not just after a massive launch or campaign •  Implementing strategies that keep the audience engaged over extended periods of time with authentic, creative content 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 21. GROWING IMPACT OF COMMUNITY MANAGERS ON THE ORGANIZATION
  • 22. Dedicated online communities have been declining for nearly 10 years Brands have gone where their customers are already interacting—Facebook & Twitter—and now even more niche communities. The idea of community has shifted. Communities can improve a user’s experience and it can keep people coming back, but to get them in the door, it’s just not something that people perceive to be valuable until they’ve experienced it. For more trends and insight visit TheCommunityManager.com, the main source for all community managementrelated information, including news, case studies, and reports. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 23. Understanding the role of your community manager and how to hire for it Identifying the need for a community manager and hiring for it is quite difficult. Just ask any community management professional. Understanding the need, defining the role, and setting expectations can be challenging for general marketers trying to hire a community manager. “It’s incredibly difficult to hire for a community manager. Finding a community manager is easy, but it's the magic mix of skills that make them relevant to your community that's the hard part. Being a successful community manager, and in turn building a robust community, manifests itself through a series of skills that boil down to effective communication, great customer service, learning, and listening.” - Christina Christian, Events Director, Jeni’s Spendid Ice Creams 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 24. Today’s community managers create value beyond their traditional role Great community managers make the organization more porous. A community manager can significantly improve responsiveness to the consumer by connecting the organization to itself in ways the typical hierarchical structure can not. Community managers are not analyst, but they have intimate and candid knowledge that no other part of the organization has access to. Leverage their insight to inform... CRM strategy Media buying Product development & road mapping Messaging Very few in the organization have a better pulse on the consumer than a community manager. Provide them the opportunity to recommend CRM strategies. Community managers are interacting with the consumer every day. They hear the highs and lows of every voiced experience. Interacting with the consumer across channels gives community managers a glimpse into how their consumers are finding and sharing information. The community manager knows how the consumer talks. Let them use that knowledge to inform messaging. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 25. NICHE SOCIAL MEDIA NETWORKS PROVING BENEFICIAL FOR MARKETERS
  • 26. Small, specific communities have a real chance to succeed in 2014 Niche communities that offer deeper and more focused functionality will continue to experience massive growth. Consumers are turning to new and smaller sites and communities to interact with others on a hyper-specific level. The attention on niche networks will continue to grow as consumers look for social networks to share our interests and experiences. Other factors that will spur proliferation of niche sites: •  Simple, streamlined functionality •  Lower technical barrier to entry for users •  Social networking fatigue with large networks 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 27. Niche communities offer brands opportunity to engage with their target audience The opportunity for brands to engage with users in niche communities offers an intriguing value proposition for their marketing budgets. Opportunity for low-cost test campaigns that provide insights for future strategies Target users who have self-identified their interests and are more likely to purchase Improve relationships with target audiences and vendors in the category Research the language, proper messaging, and needs of target audiences A brand can get involved by offering similar features in its own site or app. Allowing users to share with each other in smaller communities in addition to larger networks can dramatically increase the number of consumers that are interacting with and regarding your brand. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 28. PRIVACY & SECURITY BECOMING MARKETING STRATEGIES
  • 29. Consumer security is invading the marketing suite Consumers are making digital purchases based on their level of comfort with the process. That level of comfort is determined by both the user experience and the consumers’ perception of a safe and secure process and storing of their credit information. 7 in 10 2/3s smartphone and tablet owners have tried to make purchases on their device of this group report having abandoned a purchase due to a problem with the checkout experience. Of the consumers who have abandoned a purchase, 51% say that they didn’t feel comfortable entering their credit card information, 47% felt that the checkout process took too long, and 41% said the process was too difficult on their device. Source: 2013 Mobile Consumer Insights 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 30. Bridging the gap between security and design To be successful, marketers will need to get security experts and designers on the same page. But first, they need to understand where each is coming from. Information Technologists Product Designers They are the protectors. They seek out and destroy any threat or weak link in the system to keep the organization’s and the user’s data safe. They are constantly facing new threats, new technology, and new operating systems. Their jobs moves at the same speed as technology. Fast. They live and breath the consumer experience. They believe intuitive experiences breed trust and adoption. Product designers seek to build purchase paths that are simple, clean, and make it easy for consumers to complete tasks such as fill an online cart or seek out answers from customer support. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 31. STORIES ARE BIGGER THAN BIG DATA
  • 32. Stories add 5,859% more value to your product Well, maybe not exactly. But in the case of this Utah snow globe that was exactly the case. Writer Blake Butler created a story about the significance of the snow globe and the originally priced $.99 snow globe sold for a whopping $59 at SignificantObjects.com. In fact, this is consistent with research conducted at the Ohio State University that shows people’s beliefs can be swayed more effectively through storytelling than through logical arguments. “The ROI on your digital campaign is becoming less and less meaningful, and ad spends are becoming more and more wasteful. Storytelling is the only thing that matters. The good news is there are incredible tools in place that only cost our time to work on." - David Sherry, Brand Swell Source: Journal of Personality and Social Psychology 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 33. Allstate is a master of storytelling in advertising Consumers create relationships with people and their stories, not necessarily products or services. Allstate is a leading example of a company that understands the human side of their brand and the potential of mayhem that quietly lurks in people’s day. Actor Dean Winters humorously portrays the human characteristics of unfortunate situations.   Allstate puts Mayhem in ironic, but realistic situations to demonstrate to consumers that “mayhem” is everywhere. Mayhem is a likable character that audiences appreciate and root for. Allstate is a perfect example of humanizing a brand and telling stories. 2014 MARKETING TRENDS | TYLERDURBIN.COM!
  • 34. Thanks for reading I’m always happy to talk shop. I love talking about trends, new data, great advertising campaigns, and just about anything else. Feel free to get in touch. The best way to say hey is via Twitter (@TylerDurbin) or via email (TylerJ.Durbin [at] gmail). My website is TylerDurbin.com. …and if you’d like to get in touch with any of the contributors to this report, they all love Twitter. Hit ‘em up! Amy Schmittauer @Schmittastic David Sherry @DavidSherry36 Carolyn Kent @CarolynLKent Christina Christian @Christina_Lynn Amanda Larrinaga @AmandaLarrinage Matthew Russo @MatthewRusso Steve Michalovich @SteveoMic