The year-end calls for a celebration as we thankfully saw more developments in our industry for the past year. Some of the past growing trends that we observed in 2013:-
Adspend growth in Waze and Spotify
Waze and Spotify has been gaining traction in growth. Although being new in the market, a handful of advertisers spotted the advertising opportunities in them. Waze can be perused effectively for specific geographical locations and remains an attractive media for retail businesses. Maxis advertised its branch locations, and KIA added Waze in its campaigns by showing the locations of its showrooms.
As the digital music provider Spotify grows in membership, local advertisers such as KFC, Standard Chartered and KIA are beginning to use Spotify as an advertising platform to reach young, urban target audience. We foresee an even bigger advertiser pool for these two media come 2014.
Online TV Channels
Bursting forth onto the scene are online Youtubers such as DMingThing, DanKhoo and TheGrimFilm. Once a highly niche market with just a few players like JinnyboyTV, this platform has matured in the past year with more channel options, a wider variety of content types and better quality in terms of scripts and productions. Furthermore, we can see more collaborations between these channels and brands.
The marriage of Digital and PR has finally been recognised in Malaysia. Thanks to blogger networks like Nuffnang and Churp Churp, more bloggers and celebrities are being roped in to “seed” the community with news on products and brand promotions. Apart from blogs, advertisers are also using celebrities’ social media platforms such as Twitter and Instagram to spark conversations and word-of-mouth.
THE COUNTDOWN BEGINS
Moving on, we will attempt to gaze into the crystal ball to see what’s going to be big in 2014. We predict there will be several things that will gain a considerable amount of momentum next year – Content Marketing, Experiential Marketing, Mobile Marketing, Engagement, as well as new ways to reach your target audience through the use of images and videos, led by creativity, which is needed to drive all of the above.
First off, we have heard so much of content marketing but what exactly does content marketing means? With content marketing, marketers own the media, instead of renting the media space with adspend. It is a tedious marketing process to attract and retain customers’ attention by consistently creating and curating content, in hopes of changing consumer behaviour towards the brand.
In the past, content marketing was mainly utilised by B2B organisations, especially those that need to showcase their expertise and build credibility by sharing case studies. But more and more marketers are promoting their products and services to consumers via content marketing.
Content marketing have gained importance due to the growth of social media. Social media needs content, and marketers realise you can’t have one without the other. According to a 2012 study by AOL and Nielson, a whopping of 27,000,000 pieces of content are shared everyday!
In Content Marketing Gets Social: 2013 Survey on Content Marketing, there are some key findings that highlights the current state of the content marketing industry, where marketers want the practice to go, and how brands can improve their strategies.
- 68% of respondents say their top content marketing objective is engaging customers and prospects
- 87% of respondents say they create their own original content to reach web users
- 66% of respondents say their biggest content marketing challenge is producing targeted, relevant online content to engage audiences
WebDAM also offers a glimpse of what to expect for marketing departments that will drive year 2014. Here are some key findings:
- 78% CMOs think custom content is the future of marketing
- Internet advertising will make up nearly 25% of the entire ad market by 2015
- Social media marketing budgets will double over the next 5 years
- 52% of all marketers have found a customer via Facebook in 2013
- 55% marketers worldwide increased digital marketing budgets
- Videos on landing pages increase conversions by 86%
- Customer testimonials have the highest effectiveness rating for content marketing at 89%
- Visual data is processed 60,000 times faster by the brain than text
There are a few factors that could continually cause content marketing to rise as an indispensable marketing tool in 2014: –
1. The brand’s website remains the centre of gravity
The centre of gravity for most digital or traditional marketing is the brand website; whether it be a branded URL like AmericanExpress.com or a microsite for a brand’s specific product category, like www.weaning.com.my by Nestle Malaysia. Everything done online, from banners, social media to SEM are used primarily as a distributor of links back to the content on the brand’s website not as containers of the content itself.
2. More space, bigger voice
The vast space available on websites permits much longer forms of content as compared to social media marketing. Limitations such as 140 character post of Twitter, or a small online banner, does not allow for more information sharing. However, brands can publish, on their website, blogposts, videos, images, and much more, just to name a few. In content marketing, brands in content marketing model their behaviour after that of media publishers. By delivering consistent, ongoing valuable information to buyers, marketers will be rewarded with customers’ loyalty and business.
3. It’s a natural relationship builder
One-off promotional or marketing campaigns do little to build a relationship. As a result, marketers focus too much on awareness, such as for a new product launch, or a contest promotion. Awareness does not translate to a relationship, which in the long run, can prove to be more valuable. As marketing activities bring prospects to a brand’s site, content marketing develops the relationship to another level, builds trust and increases conversions.
4. Independent of social media
Last but not least, content marketing can be independent of social media. There’s a caveat though. You need to generate “valuable” content, and not just build content for content’s sake. Valuable content is interesting content that has either information value or entertainment value to its readers. By having a solid content strategy, marketers can deliver interesting content consistently to attract and retain the attention of target audience. Content that is valued by readers will also be shared through their social media to their community, but it all starts with having great content.
Catch our next article on Zoom-in 2014 – Marketing trends for next year: Mobile Marketing