Emerging media = emerging opportunity
The Wappow Emerging Media Conference is taking place in San Francisco this week. This is significant for a few reasons. For one, it’s always been a goal at Raven to provide data intelligence and reporting tools that meet the needs of emerging media. And, of course, we want to cheer on product marketing manager Taylor Pratt as he introduces the audience to Raven tomorrow morning. But most importantly for marketers and businesses, it’s important to pay attention to new platforms that may present lucrative opportunities.
Let’s take a closer look at some of the major media categories being covered this week at Wappow.
Some parent groups protested the addictive nature of video games a few years back. The gripes shared around a dinner party I attended last weekend about how annoying it is to get yet another Farmville invite is another example of how effective games can be in gaining a loyal user base. Then there’s the video based on an online role playing-game user’s critical review that’s gone viral. Games are a fun and welcomed part of online culture and consciousness.
Looking at the year ahead for Google, Eric Schmidt noted that all of Google’s strategic initiatives were focused on the mobile Web. Along with an increased availability of Android smart phone devices and the development of the high-speed LTE network, Schmidt hinted at an upcoming mobile payments service coming from Google this year. Also demonstrating the search giant’s commitment to the mobile Web space, yesterday it was announced that Google acquired SayNow, a platform that allows voice messaging to be integrated into social networks and Android and iPhone applications.
Games, as you know, comprise a channel that reaches an engaged audience. Games played on mobile devices have the benefit of additional user targeting data, such as demographics, specific applications, music, movie and book interests and location. How closely have you looked at Apple’s iAd Network? If you haven’t, it’s time. Launched a year ago, Apple’s ad network is delivered to iPhone and iPod users. Combine the potential advantages of gaming, social and mobile with progressive new ad networks like iAd.
During the holiday shopping season, sales of e-readers broke records. The Kindle became Amazon’s best-selling product of all time. No coincidence, the Nook became Barnes & Noble’s all-time bestseller.
It’s worth noting that consumers aren’t looking at tablets like the iPad as replacements for e-readers like the Nook and Kindle; rather, the two devices are getting along just fine, according to a new study by JP Morgan. In fact, 23 percent of iPad owners reported plans to buy a Kindle in the next 12 months.
Social networking sites
Of all the emerging media channels, social media is probably the one we know most about. We use sites like Facebook, LinkedIn and Twitter for ourselves everyday. A plethora of content about strategies and tactics for marketing through social network sites is published daily. However, a recent study by Harvard Business Review Analytic Services concludes that brands still aren’t using social media effectively. Among the findings:
- 69 percent of business execs say the use of social media in their organization will grow significantly over the next few years, and 32 percent say social media has been designated a high priority by their organization’s senior executives.
- 46 percent say social media is an important component of their overall marketing strategy.
- 50 percent say that, until they’re able to measure the impact of social media marketing, it will not be taken seriously in their organizations.
Online marketing agency Eloqua measured brand advocacy among customers who engaged with the company on social channels and found that Facebook fans showed a 700 percent higher score compared to the total client base. Moreover, a client who tweets about the company is nine times as likely to be a brand advocate than on average.
And that’s just the tip of the new media iceberg. Tune in tomorrow for interviews with Wappow speakers for their thoughts on emerging media and marketing opportunities.