OlaView: Pinterest, Snapchat Gaining Power in Different Ways
This was a big week at Olapic, as we launched our new brand and identity. Still, we wanted to make sure we made time to stay on top of our ever-changing industry. In this iteration of “OlaView,” we discuss the evolution of platforms like Pinterest and Snapchat, the death of Twitter’s “Buy Buttons,” and how brands are embracing authenticity to become more human with their consumers. Read on to learn more!
OlaView: June 17th, 2016
“According to data from Kleiner Perkins’ 2016 Internet Trends report, charted for us by Statista, Pinterest was the most popular social media platform among online shoppers, with 55% of US internet users picking it as their top choice.”
Pinterest has long been an intriguing platform for marketers. Recognizing the largely female-driven engagement potential, brands have been strategizing ways to activate targeted advertising on the social network since well before it became available over two years ago. What made Pinterest so interesting was and is its unique position in the tech space. Is it a social network, or is it a search engine? Consumers go to Pinterest to seek out recipes, decoration ideas, DIY projects, etc. Along with that search intent comes an enhanced intent to make a purchase, and therefore, the audience is far more valuable to brands. For this reason, these statistics are no surprise. However, we are starting to see the same trend happen with other networks, as well. Consider Facebook and Instagram, who have created more robust advertising opportunities to draw on the powerful and unparalleled insights they possess. Or Snapchat, which has brands salivating over advertising potential when two years ago the thought of ephemeral content terrified even the most ambitious marketers. The point is, Pinterest has a leg up in conversion intent, but there is amble opportunity for all of the players to make an impact on consumer engagement and revenue generation.
Bill Connolly, Director of Content Marketing, Olapic
In this recent AdWeek article by self-proclaimed “digital prophet,” David Shing shares his thoughts on the consumer-marketer divide — and the need to abolish it. While the gap has narrowed, there is still an “us vs. them” mentality for many marketers when it comes to the way they interact with their consumers. But the truth is, those that have loosened the grip of control, those that are engaging in more authentic conversations and leaving the antiquated expectations of brand-consumer interactions behind, are the ones that are succeeding.
He makes a point, which might seem obvious but serves as a friendly reminder to all of us. We are not just marketers, but are consumers, too, just like the people we are trying to talk to.
The challenge is to be a marketer as you are a consumer, and to find ways to be funny, gripping, and cool as you accompany consumers on their journey.
This just underscores the urgent need to be human with consumers, to be authentic, to be real. If done correctly, they will be real with you as well.
Meryl Serouya, Sr. Director, Partner Marketing, Olapic
Recently Twitter announced it disbanded its commerce unit and suspended further development of its Buy Button and product page commerce offerings. Is this a signal that social commerce is failing?
While the ultimate verdict is still out, recent consumer surveys and analysts such as Sucharita Mulpuru at Forrester point out the slow adoption of social commerce, but remain conservatively optimistic that the platforms will continue to find ways to overcome hurdles. Recent analysis of Twitter’s news in ZDNet, quotes Mulpuru saying “The real game-changer will be when Google puts the buy button on the desktop, which is and will be the predominant way to buy digitally in the foreseeable future.”
But Twitter’s abandonment of Buy Buttons is only a redirection of focus on other commerce drivers such as dynamic product ads and many would argue that Twitter is simply not a sensible environment for direct buy buttons or shopping.
The instinct to find ways to drive commerce in places where consumers are engaged and in discovery mode is the right one. Pinterest, Facebook and Google all continue to invest in commerce buttons and ways to reduce friction in the path to purchase.
According to e-commerce platform Shopify, more than one quarter of its customer base has connected their products to Pinterest, Facebook and Twitter to help drive sales and increase awareness and web traffic. Additionally they are seeing the majority of traffic to sites coming from mobile which indicates social platforms should continue to explore how to make the connection for consumers.
Jocelyn Johnson, Global Lead, Press and Analyst Relations, Olapic
Snapchat has been working hard over the past few months to create a robust ads product, and there are many changes afoot as it launches its new API.
Due to the app’s mass popularity, reaching an average of 10 billion video views a day, the technology is looking to monetize those views by serving ads in between videos friends share with one another.
Initial launch partners include Hollister, P&G, Verizon & Warner Brothers. While ads have already started appearing on Snapchat’s Discover media section for a while now, it’s peoples’ personal stories where the bulk of user activity takes place.
Although Snapchat is already receiving pushback for this upcoming change, it is ensuring its users that ads will not bombard the app’s experience. Already Snapchat is promising to stagger ads, and not allow an ad between each story. Additionally, to avoid sub-par creative, advertisers are being held to an incredibly high standard to provide content that is relevant and engaging to its users.
This shift for Snapchat signifies the importance of user-generated content being leveraged more frequently in marketing and advertising as a way to reach younger consumers. In addition to this ads format change, Snapchat also launched it’s ad tech platform with the hope of competing with the likes of Facebook, Pinterest, and other top social networks.
It will be interesting to see if this change will be a big win for Snapchat, or something that is rejected by the newer generations using the platform. Stay tuned to find out!
Rachel Brown, Content Marketing Associate, Olapic
Why We Should Embrace the Human Element of Digital Marketing [MarketingTech]
“The second wave of digital marketing built our ability to learn and to scale. But it also weakened our ability to build authentic and appropriate human relationships with our customers based on insight, empathy, ethics and courtesy.”
This article addresses the 3 ‘waves’ marketers have gone though moving from the old-fashioned physical marketing methods to the digital age. This transition has allowed us to reach a wider audience and push our marketing as and when we like, more easily than ever before. The latest technology such as automation platforms like Marketo and Pardot enable this effort, which is great, however great power should be handled with care. We may be blinded by the effort to gain scale and click throughs to our sites, instead of critically thinking about what each individual – human – wants to receive and consume.
As we cannot address an individual’s needs in mass, we shouldn’t market in that way either.
Marketing automation platforms with all the data available, enable us to put a flyer in someone’s hand with their name on it, and the show they want to go to. Therefore there is no need to waste time telling the same story to everyone, be personal, use the technology available to give context, build trust through authenticity, create a relationship and ultimately drive real engagement.
Mark Bayley, Campaign Marketing Specialist, EMEA, Olapic
Check back in a couple of weeks for the next OlaView, and have a wonderful weekend!
Image Credit: Eli Gonzalez