Tag Archive | "Consumers"

Facebook Trying To Habituate Consumers Around Driving Transactions, Says Button CEO

“The Instagram effort is one that we predicted for a long time,” says Button CEO Michael Jaconi. “I wasn’t the most popular guy in the venture capital pitch room saying hey, the world is moving to commerce. They said advertising makes so much money. In reality, what I think Facebook is doing is very smart. They’re trying to habituate consumers around driving transactions from their platform. For the future of advertising, especially in mobile, the way that you’re going to be able to make money and build durability into your business model is to give consumers what they want.”

Michael Jaconi, CEO of Button, discusses how mobile commerce is rapidly replacing ads as the primary revenue source for publishers and social platforms such as Facebook and Instagram in an interview on Bloomberg Technology.

We’re Trying To Build an Internet Built on Actions, Not Ads

The Button platform really sits above the stack. Where we sit is really in this place where publishers integrate with Button to connect their consumers to their next step. What we’re trying to build is an internet that we think is going to be better, and an internet built on actions, not ads. What the publisher technology that we built does is it sits inside of an application, renders an actual button, and then connects them to the place of intent that their users ultimately may want to go. Whether that’s a mapping app going to Uber or an app like rewardStyle that is powering an influencer network to drive sales at ASOS.

There’s a lot of change happening and Button is trying to invest in that ourselves. You’re seeing the platform’s, Apple and Google, do a lot to make this easier with Facebook’s recent launch of Instagram Checkout. You’re obviously seeing that they’re investing a ton in making the checkout process more seamless. What we fundamentally believe when we started the company was that if we could build a method that would make consumers have a delightful experience, giving from that moment of intent to the moment of fulfillment, saying hey, I want a ride or I want to book a reservation, and having that be as few taps as possible, we would win and the companies that we’re building on top of our platform would win. 

You’re seeing innovation happen with sign-on and the actual account credentials being passed more easily between experiences. Apple Pay, of course, the Google Checkout experiences and  PayPal is making this easier. You’re seeing strides being made but there’s still a long way to go. It’s still a lot easier to purchase on your PC unfortunately. 

Facebook Trying To Habituate Consumers Around Driving Transactions

In our judgment, we think that the Instagram effort is one that we predicted for a long time. I wasn’t the most popular guy in the venture capital pitch room saying hey, the world is moving to commerce. They said advertising makes so much money. In reality, what I think Facebook is doing is very smart. They’re trying to habituate consumers around driving transactions from their platform. Everyone is looking at Amazon with a little bit of fear and a little bit of jealousy. What you’re seeing is that they’re looking at Amazon’s power as being the habituated source of transactions. They are saying look at how Amazon is growing its ad business.

If you look at Amazon’s business, the fastest growing channel it’s had in terms of revenue growth has been its advertising business for the past eight quarters in a row. What’s fascinating about that is that every company wants to grow and be a part of that puzzle or that story. That’s the thing that we’re seeing grow most quickly. For the future of advertising, especially in mobile, when display and all types of advertising are under fire, the way that you’re going to be able to make money and build durability into your business model is to give consumers what they want. For us, we’re trying to give that power to every publisher that exists and to every company that has intent.

Facebook Trying To Habituate Consumers Around Driving Transactions, Says Button CEO Michael Jaconi

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Millions of fake Google Maps listings hurt real business and consumers

Google says it is working on it, but is still positioned to profit as local businesses claw back visibility with paid ads.



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Survey: More consumers trust accuracy of SMB websites over Google My Business

BrightLocal also found an overwhelming consumer preference for phone calls vs. other channels such as email and messaging.



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Younger Consumers Want To Connect Emotionally with Brands, Says PVH CEO

“Especially today, younger consumers want to connect emotionally with brands,” says Manny Chirico, CEO of apparel company PVH, which owns many lifestyle brands including Calvin Klein and Tommy Hilfiger. “They don’t want to just aspire for your brand looking down the runway, they want to be part of the life of the brand. I think Tommy Hilfiger does it well.”

Manny Chirico, CEO of apparel company PVH, which owns many lifestyle brands including Calvin Klein and Tommy Hilfiger, discusses how the company has turned around by focusing on ecommerce, technology, and connecting with young consumers. He was interviewed on CNBC:

Consumer Experience is Critical

You have to be willing to make the investment. I think we really have done it (turned around the company), from not only a brand marketing point of view, but investing in all the new technologies and investing in the ecommerce platforms that really will drive the business going forward. Our stores are highly profitable and we need to continue to invest in those stores. The consumer experience is critical and we’re making connections with a younger and younger consumer.

We’re all dealing with the challenge of the distribution models changing, but fundamentally we’ve always been a multi-channel retailer. We have big businesses in brick and mortar, both direct-to-consumer in our own stores and through our key wholesale partners like Macy’s here in the US or Galeries Lafayette in Europe. Those key players we continue to invest back into those platforms.

Younger Consumers Want To Connect Emotionally with Brands

The challenge with that high-end collector fashion business is are you connecting with a younger consumer today and how do you make your investments as you as you go forward? I think it needs to be more balanced than it’s been. Especially today, younger consumers want to connect emotionally with brands. They don’t want to just aspire for your brand looking down the runway, they want to be part of the life of the brand.

I think Tommy (Hilfiger) does it well. We just have a fashion show in Paris with Tommy selling product immediately after that trying to connect with the consumer at more affordable price points than what you would see from the luxury point of view. That’s how you build big businesses. We’re not trying to build niche businesses selling just $ 2,000 men’s suits or evening gowns. We’re really about building big lifestyle businesses.

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Study argues Google Home 6X ‘more effective’ than Alexa, but will consumers care?

Amazon’s assets, including distribution, brand loyalty, aggressive pricing and a more diverse product mix could trump Google Home’s better performance.

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What does the Consumer Review Fairness Act mean for consumers and online reviews?

Columnist Sherry Bonelli discusses the impact that newly signed legislation may have on local business owners and review sites.

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Bing Places Connects Consumers With Local Businesses

Bing Places for Business allows marketers to add information to their search result listings, such as contact information and photos.

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68 percent of consumers say coupons promote loyalty

If you want to keep the same customers coming back over and over again, send them a coupon and then send them another one and another.

In “The State of Digital Coupons: How Digital Coupons Are Adapting to Mobile and Omnichannel by Forrester Consulting on behalf of RetailMeNot, we learn that coupons are still a prime motivator for both online and offline shoppers. 59% of consumers said coupons were most likely to influence their purchasing decisions. Luckily, there’s an upside to selling things for less money – customer loyalty.

Retail Me Not Coupon Loyalty
68% of consumers say coupons build brand awareness and lead to customer loyalty. Look at the chart above. The lighter the blue, the more positive the response. A large number of respondents said they were likely to tell friends about online coupons and promotion codes. 29% felt strongly that coupons led to brand loyalty and another 62% agreed to some extent.

The final question is the real kicker. More than 75% of respondents said they were more likely to pay full price for a product or service from a company that is known to offer coupons and codes.

This is all very nice, but there’s one key factor missing:

“I am MORE likely to postpone buying from a store if I know I can probably find a coupon later on.” I strongly agree!

Some sites are so known for their coupon deals, people will wait it out rather than shop without. If you’ve trained your customers to wait, you could be losing out on sales you need right now.

The flip side of the flip side, is that once they do have that coupon in hand, they’re more likely to buy things they wouldn’t have bought without the coupon.

For example, I want to buy a sweatshirt at the Disney Store online but I’m not going to pay full price and shipping! I know they always have codes and shipping deals, so I wait it out. Sure enough, here’s a code for 25% off my whole order and free shipping if I buy a park product. I wasn’t going to buy a park product but that plate is cute and it’s only $ 6 and since I’m also getting 25% off I’ll buy that mug as a gift and I like that handbag and I am saving 25%. . . before you know it, I have $ 200 worth of items in my cart when I came to buy a $ 40 sweatshirt.

This is the power of coupons and codes.

Let’s wrap up with this; though most people get their coupons by email, 31% of consumers said they use a coupon app on their smartphone or tablet to find the best deals.

What do you think? To coupon or not coupon? That is still the question.

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Edelman survey says consumers want their entertainment selfie-style

Entertainment-in-the-Era-of-the-SelfieMe. Me. Me. It’s all about the me! A new survey from Edelman shows that consumers are taking control over what they watch, when and how they watch, rendering the old TV Guide virtually obsolete.

Binge-watching online is up from 86% to 94% here in the US. In China, 99% of respondents said they’ve binge-watched their favorite shows. 72% do it because they simply want to know what happens next. (This is me, binge-watching old seasons of 24). 57% said they do it to feel “caught up” and a handful simply want to avoid being spoiled by friends who have already seen it, so they hop online and get up to speed.

Binge-watching is bad news for TV advertisers but it’s good for online providers and the shows themselves. Around the world, people are as likely to share information about their entertainment choices as they are to share information about their friends. Can you believe what happened on Game of Thrones!!! Oh, and Susan had her baby. . . but man that battle was insane!

For those who think the internet is bad for the human race, check out these fun facts.

Edelman Enter Survey 1

The YouTube one might be a sign of the apocalypse, but its good to see people enjoying offerings from other cultures. That can only help, right?

The Good of the Many

The best news for content producers is that consumers are more likely to offer praise for good content than complain about bad. 53% of US consumers have recommended entertainment content to a friend and 33% have shared their thoughts with their entire social network. 37% said that a good experience led them to buy a product or service from the company that produced the content.

On the flipside, only 34% have ever criticized a company for boring or bad content but 27% said they would ignore content from the same producer in future.

The Good of the Money

Edelman asked the survey participants about the factors that drove them to plunk down their hard earned cash in return for some entertainment. The dark blue line is the current year with 94% saying that their personal happiness was paramount. Excellent quality was more important than long-term enjoyment which is why people are choosing a streaming service like Netflix over owning the DVD.

Edelman Purchase Intent

More people than ever are looking for instant gratification and they’re willing to put out a little more effort if it means they get it now. 68% said they rely on positive reviews from people they know. A big number but not even close to being the most important factor and even fewer are concerned about moving from device to device.

Bottom line: they want what they want and they want it now!

Gail Becker, president, strategic partnerships and global integrations at Edelman says,

“This year, we found that consumers want their entertainment ‘selfie-style’ – content centered on them, immediately gratifying, engaging and shareable across their social networks. Brands that can successfully deliver or enhance compelling entertainment to consumers stand to gain through positive word-of-mouth and association.”

You can view the entire Edelman presentation online for free and you can view it right now.

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60% of Consumers Use Mobile Exclusively to Make Purchase Decisions [Study]

The third annual Mobile Path to Purchase report by xAd and Telmetrics studied mobile device usage across categories such as auto, restaurants, entertainment, and telecom to help establish the state of mobile device behavior and conversions.
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