How to Monetize Virtual Reality
Here is a comprehensive list of the various avenues to monetize virtual reality.
Here is a comprehensive list of the various avenues to monetize virtual reality.
Money is the motivation behind everything nowadays and the success of every business is quantified in terms of how much money it gives back in return.
Employment and unemployment are usually on topic wherever you go. But ever since the Internet, it is no longer business as usual for most employers and employees! People are now getting to virtual online work platforms contrary to the past when employers and employees were confined to their geographical locations. This makes it possible for you to literally work for any company or client around the world from anywhere you want.
For most people, surfing the internet is just part of your day to day life.
However, whilst most people simply use the internet to login to facebook, check news sites or watch cute cat videos on youtube, some people are actually earning a living from it online.
There are very many ways of making a modest living online but the two most common methods are:
Freelancer – SEO, Web Design, Graphics Design. Whatever skills you’ve got that is transferrable online, there are people willing to pay for the service.
Affiliate marketing – Make money selling other peoples products. Sounds easy enough provided you can generate traffic and conversion to your website.
The best part of it all is that you don’t have to waste time travelling to your clients’ location. No. You only have to contact them and once the negotiation process is done (online), You can get down to working and after completing the contract as agreed, submit the work online. If you use seo for affiliate marketing then you don’t even need to deal with clients.
Freelancing has a big future in employment in my opinion. In years to come, most of the world’s population will be working and employing online. For example, as per now, around 50 million people in the US alone work online.
There are online platforms via which the employees and employers meet. These platforms are referred to as online work platforms. It’s no longer just the odd small business turning to these online work platforms, huge companies also use these for the flexibility of hiring a skilled contractor without all the red tape.
The main platforms on the market at the moment are; Upwork, Freelancer.com, Fiverr and Guru. But there are many more of these each offering something unique.
Of course, your online money making ventures are not limited to being a freelancer or online contract work. Other ways to make money online include trading Forex, commodities, stock and binary Options. These require skills and I would not advise you to jump in lightly as they require investment and high risk.
You need skills. Remember working online is still a form of employment and in every employment the employer will always go for specific skills. You therefore have to have learn and perfect some skills. Now you may have graduated with a journalism degree so you can write great content which is highly in demand right now, or you are an experienced graphics designer. When you are qualified and experienced you can get a job anywhere.
However the beauty of the internet is that it allows you to learn skills which aren’t even taught in schools or colleges. Search engine optimisation or digital marketing for example is a case of learning from online material and trial and experience. If you want to learn seo there are plenty of available guides online, I wrote a guide to local seo myself.
If you have the skills, you can go ahead and sign up to one of the many sites. The platform of your choice should have ample clients looking for freelancers with your type of skills and should also be secure. For example, if you are a web developer, you should look for platforms like freelancer.com or Upwork where there are many clients who require web development services.
Every online working platform makes money by cutting some amount from the pay that the client makes. Different online working platforms cut different percentage from what your client pays you. For example, Upwork will cut 10% of the pay while
Fiverr will cut 20% of your pay. So take that into consideration.
You will be required to add some information on how you will be withdrawing your funds. This will require you to have a link from your online work platform to your bank account. There are various ways to withdraw funds to your bank account. Some of the most popular ways to withdraw your funds is via PayPal, Bank Wire Transfer, Payoneer and Skrill. You have to ensure that the information that you disclose at this point is safe to avoid instances of your bank account being hacked into.
After registering yourself with an online work platforms of your choice, you will have to work on your profile. The profile is what reflects your skills to potential clients. When a client wants to know whether you are capable of performing a certain task, they will first look at your profile to see whether you have the necessary skills or experience. Working on the profile is one of the harder parts to perfect.
The first thing is to complete your profile to 100%. In most cases, you will be required to fill a form with your name, country of origin, your telephone on mobile number, your email address and an upload of your picture. The picture should be very decent to portray professionalism.
Add your education background as well as any work or employment history that you have had. You should be careful to provide an academic background and work history that matches the skills that you claim to possess. This will go a long way in giving your clients that confidence that you are extremely good in whatever you do.
In some online work platforms, you will also be required to do some tests related to your skills as a way to ascertain that you are really good in whatever you claim to be good at. Before taking any test, ensure that you understand the areas that are covered in the test for you to score highly. The higher the points you get in these tests the better placed you are among your fellow freelancers with the same skills as you.
Then, the most important thing on your profile is your reputation among the clients that you have had a chance to work for. When you are given any task, you should ensure that you do it to perfection so that the client will rate you high or even come back to you for extra work. When you get many positive reviews (5 stars) from your past clients, you stand a greater chance when clients are making a decision on whom to offer their contracts to from a large number of applicants.
For you to work online, you will require:
A bank account
That’s it. To summarise; learn some valuable skills, make use of available digital resources, sign up to an only work platform, perform the task well, get paid!
There is a definite disconnect between Australian consumer usage of the internet and the investment in digital from organisations. Despite the many articles promoting the potential of digital – it is only few – mainly the pure play online organisations that are benefiting from the digital phenomenon.
However despite the strong signals of consumers both spending increasing amounts of time and money online, organisations are not slow off the mark to invest in the digital channel. And the statistics prove it.
Statistics from Mike Hall, Director of Holler advised that more than 13 million Australians are online and the digital life survey suggests that as a nation we now spend one-third of their leisure time online, which according to Nielsen is 16.1 hours online per week. But our time online is not just spent browsing, according to Mike in 2008 Australians spent approximately $24 billion dollars online.
The Nielsen advertising report, released in March 2009, demonstrated the significant gap that exists between online promotion and consumer consumption of media. Of the top 10 retail organisations advertising in Australia, only 1% of ad spend is invested online. This same trend currently exists within the beauty & cosmetics sector whilst in the entertainment and leisure sector the proportion is slightly higher at 3%.
But the time spent online by consumers is not matched by the online spend of organisations.
So whilst many businesses will claim that Australian consumers are not likely to buy online, the above demonstrates the lack of investment by organisations.
So why is there such a disconnect?
I believe there are several reasons why organisations are not jumping on the digital bandwagon, these are;
Poor Digital Leadership;
Traditional marketers are not equipped to lead the digital charge and champion the digital channel at a senior level. If senior stakeholders are not truly convinced of the opportunity the channel will not be taken seriously, and the appropriate investment will not be made – leaving digital unable to live up to its promises.
Mark Freidin from www.internetretailing.com.au understands the impact a bad online investment experience can have on an organisations attitude towards the channel. Mark has witnessed the early introduction of eCommerce by Australian organisations and feels bad experiences in the earlier part of the decade have left a bitter taste in retailers’ mouths. He says “A lot of national retailers jumped on board in the early stages because everyone else was doing it. Instead of trying to understand this new channel and how it would work (and what it would entail to run and manage) many businesses did not tie eCommerce to their master strategy and spent money on the technology without defining what they wanted to achieve and how they were going to market themselves online. 10 years later in Australia many CEO’S are older, and more wary about their online experiences so they steer clear of selling online.”
Lack of client side knowledge;
Whilst there are many digital consultants and agencies in Australia, there is a lack of digital knowledge on the client side at all levels that are continuing to drive the implementation of digital tactics. Organisations looking to invest in digital must not only invest in the tools, but invest significantly in retraining traditional marketers to ensure they are equipped to drive the value from the digital channel.
Lack of local training & case studies;
Australia has developed a strong community of independent bloggers on various digital topics. However Australia lacks the formal nationwide digital training that is required to re-skill traditional marketing professionals. Many traditional client side marketers wishing to up-skill are unsure of where to go both online and offline to gain the skills required to grow their digital knowledge base. As a result marketers are more inclined to use techniques where their expertise lies and those which they can comfortably implement to show return.
In addition, whilst there are many online case studies for brands successfully leveraging digital channels overseas, Australia lacks the local examples to prove that digital campaigns can be successful in the local market. This makes it difficult for marketers to push the digital agenda within their organisation.
Local big boys aren’t leading the way;
If the big retailers are unable to monetise the digital channel, it casts doubts over its potential. Small to medium organisations are not in the position to take risks and invest in a channel without knowing the outcome – thus these organisations are looking for the reassurance that there is money to be made. Thus as this is not currently occurring it casts doubt over its potential for the wider business landscape in Australia.
Lack of understanding of the online influence for offline sales;
Research by Outrider at the end of 2008 demonstrated that many Australian consumers are researching their purchases online before making the final transaction. Whilst the dependence on the internet during the research phase differs greatly depending on the category, 1 in 4 consumers are researching white goods online prior to purchase, nearly 1 in 2 are researching electronics, automotive and telecommunications, and nearly 80% of consumers research their travel arrangements online.
Thus many organisations are failing to see the direct correlation that exists between online efforts and offline transactions. Organisations need to understand that not being there during the initial research phase, may mean the brand is not in the consumers final decision set when it comes to making the purchase. Until organisations can quantify this, uptake and investment will be slower than it should be in the Australian market.
Do you have any thoughts or insight into why Australia is slower on its uptake of Digital? If so share your thoughts below.
Want to expand your digital knowledge base?
If you are interested in learning more about Digital Marketing in Australia, visit www.internetretailing.com.au. This new site has been created as a knowledge centre to assist Australian organisations to learn about how to market themselves online.
By now we all know the importance of both content and link building to an SEO strategy. But the phenomenon of social media has delivered new tools to provide SEO’s with new techniques to dominate the SERPs.
Social SEO – What is it all about?
Whilst past SEO strategies have largely involved artificially creating relevance and popularity of a site, social media has provided new tools to leverage collaboration and interaction to build real popularity and authority on the web. It is this which some experts believe will form a major part of Google’s ranking algorithm in the future as they continue in their quest to deliver users truly relevant content.
The diagram below lists 4 of the key social tools that I believe search marketers can leverage to dominate the SERPs.
A closer look at the tool box
Search engines reward fresh content – which is one of the key reasons blogging can form an integral part of a search strategy. In addition, as a blog provides topical, humorous or even controversial content, it is more likely to be of interest to the user and shared with peers, as opposed to traditional site content which in some cases is prepared solely for the purpose of ranking within search engines. In addition user interaction in the form of users reviews and comments can also play an integral role in SERPs, as comments provides additional fresh content that can be indexed by the search engine.
However despite the content benefits, blogs provide a much bigger opportunity to search marketers. Popular blog content is often syndicated through RSS or cited by other blogs and sites which can generate additional back links to your site – which would normally take weeks to build manually.
With nearly 1 in 3 of all search results including universal/blended content, rich content is an important part of SEO. Over and above the basic optimisation techniques however it is the social aspects of sites such as YouTube, Flickr and many others which can help your organisation to dominate the search results. Social popularity measured by views, ratings, comments are sometimes used by Google to rank results. For example YouTube video’s ratings, views and comments are used to rank video content within SERPs. In addition the more popular the content is on these sites, the better they will then rank when new users search for related content on these platforms. This will in turn enables users to find your rich content and either embed it into their blogs / sites or share it with their community, all of which assists to generate additional inbound links for your site.
Social bookmarking and news sites have empowered users to store, organise and in some cases rate their favourite content on the web. As sites such as Digg, Delicious, Reddit and many increased in popularity, it has enabled brands to bypass the traditional PR channels, and enables web users to determine what is newsworthy or simply useful to their needs.
So you might be thinking that these sites have linking value. Unfortunately these sites use nofollow tags, thus there is no direct link value derived from such a strategy. As however these sites rank prominently within SERPs, it can assist organisations to dominate top 10 results with additional offsite listings. And similar to digital asset sharing sites, prominent content is more likely to be easier to locate and published on sites/blogs creating back links to your site.
A blog is obviously a great platform of content to leverage social news/bookmarking, however to do so it is important to empower users with widgets to circulate this content. This unfortunately means that brands have less control over their brand than previously – but this is the nature of social media.
Whilst links featured on the major platforms, ie Facebook, Twitter, MySpace do not provide the valuable link juice, social networking is still an important part of the strategy. And by now you would understand why? Social networking provides a strong platform for content from blogs or sites to be distributed and shared across communities and the web. In addition however content on these networks such as profiles, questions and answers and other branded content are often indexed providing organisations with additional opportunities to dominate SERPs through offsite methods.
However probably the most significant development in this space is the evolution of “social search” which is expected to be the next big trend – and Twitter is leading the way in this area. The key benefit of social search over traditional search is; content is indexed in real time, providing users with the immediacy to answer timely questions. As a result it is important to consider how your organisation can integrate with platforms such as Twitter, as an increasing number of users will begin to search via such networks and I have no doubt more of the traditional engines will look to leverage this content more and more in the future.
Whilst the above techniques will leave many SEOs salivating there are a few important considerations.
A social media marketing strategy is not just an extension of the existing SEO strategy. Social media marketing is a shift from traditional marketing techniques and can require the involvement of many organisation stakeholders. Thus it is advisable that a senior stakeholder determines the key objectives social media must achieve for the organisation, and SEOs can then determine how best to form part of this greater strategy.
Whilst many of the above techniques cover the viral nature of the web – the heart of any social search strategy is the content. Whilst SEOs have in the past had more control over crafting copy for search engines – the balance of optimisation and quality content has never been more important. In addition as the web becomes increasingly saturated with content, organisations need to innovate in this area and push the boundaries to provide users with something truly unique and worth sharing.
Last Tuesday 1800 technologists, marketers and business leaders descended on Sydney’s Star City casino for the Adobe Digital Marketing Symposium. With marketing automation and DMPs topping the list of priorities for CMOs and digital marketers alike in 2015– it was little wonder Adobe was playing to a packed house. For those unfortunate enough to miss out on going or for those simply interested in the outtakes – I have compiled my top 5 take outs from the event.
One of the key themes that consistently emerged throughout the day was that of the ever evolving and changing role of the marketing department and the CMO. With experiences defining the brands of tomorrow marketing must support the reinvention of organisations in the digital age. Robert Rose, Chief Strategy Officer of the Content Marketing Institute, and author of Experiences the 7th Era of Marketing believes marketing departments must evolve in 3 ways to deliver experiences rather than just manage messages;
1) Marketing departments must evolve from organising channels and technology
2) Marketing must be the strategic differentiator
3) Marketers must adapt to create value not just describe it through content and experiences that are created
Adobe’s SVP and GM of Digital Marketing, Brad Rencher spoke about “consistency” and “continuous” being the new fundamentals of the digital age. Consistency relates to the importance of presenting customers with an experience that is both relevant to their profile and circumstances. Whilst continuous relates to the way that a brands communications and experiences evolve in response to customers engagement with the brand. With the explosion of personal data now captured by organisations on their customers and the number of connected devices consumers now own – the need for brands to deliver consistent and continuous experiences is paramount.
Delivering personalised experiences based on cookies are no longer relevant. With consumers personal device ecosystem expanding – much was spoken about the need for brands to connect the dots by more effectively using data to deliver relevant experiences. Delivering cross device experiences is one fundamental way to do so but it goes beyond this with brands needing to connect the dots between one experience to the next. Google was one example cited of how brands could connect the dots through past interactions. For example say you have an appointment to see the dentist and you use your phone to look up the time it takes to walk via Google maps. The next time you have an appointment (that is in your calendar) your phone alerts you of the appointment and includes the weather forecast as your device knows you have a preference to walk and also provides you with an accurate departure time to allow you enough time to walk to the appointment.
Tamara Gaffney, Principal Analyst – Adobe Digital Index spoke about the shifts and disruption in traditional TV viewing. Authenticated TV or TV everywhere (which is where television broadcasters—particularly cable networks, allow their customers to access content from their network through internet-based services—either live or on-demand, as an aspect of their subscription to the service) has experienced significant growth in the US over the past 12 months – up nearly 300% with the vast majority of this growth coming from Apple devices. This growth is driving further audience fragmentation across various screens. This shift is driving TV networks to invest in DMPs (data management platforms) to better understand audience consumption and preferences – which will dramatically change the TV media industry as we know it.
Rachael Botsman spoke of the collaboration economy and the emergence of trust as a key currency in the 21st century. In a collaboration economy, where under-utilised assets are monetised, trust between parties is integral and this trust is gleaned from the reputation we as consumers have built through previous interactions. The power of consumers has grown dramatically over the past 10 – 15 years through social media and access to information however in the collaboration economy the power between the giver and receiver becomes more balanced. The 2 way rating systems such as those created by Uber, AirBnB and others influence how consumers and providers behave during their interactions and usage of the products or service as they have to uphold their reputation.
Imagine a world where almost everything you can imagine is connected to the Internet. This world is apparently only a few years away according to Gartner who predicts there will be 25 billion connected “things” by 2020, compared with 4.9 billion by the end of 2015.
Up until now, data was derived from customers through direct and inferred means including loyalty schemes, web browsing, registration and so on. However through the IoT data will come directly from the product itself which will create a host of new insights, opportunities and will also drive the next wave of digital disruption in certain industries and categories.
Whilst connected “things” present a significant opportunity for brands there are certain “connected device” categories that have seen greater consumer uptake than others.
In Australia, wearables are one category that is growing at a rapid rate. According to Telsyte 370,000 smart-watches were sold in Australia in 2014 and a further 800,000 smart wristbands were sold over the same period. 30% of Australian households also now own a smart TV. However consumer penetration of connected white goods and other household appliances is still in its infancy. Although consumer adoption at present is still embryonic in a number of categories the landscape will evolve quickly with manufacturers in these categories i.e. white goods, home security etc embracing the IoTs in a big way.
Whilst many marketers are struggling to grapple with leveraging all of the data currently available to them – the IoTs is set to further accelerate the generation of data and create a whole host of new data challenges and opportunities. In particular, the IoTs promises a wealth of opportunities for brands to further enrich their CRM strategy as it will provide new ways to connect with customers and deliver highly relevant, personalised 1:1 communications through the products themselves – all underpinned by real time data. For brands in the FMCG and manufacturing space the IoTs will be particularly fertile ground allowing these brands to develop a direct relationship with the end consumer – something retailers will be very closely watching. Unilever is one FMCG brand that is betting big on the IoTs;
Marc Mathieu, Global VP of Marketing at Unilever recently said in an interview that Unilever is “very keen” on the internet of things area and what the space may mean for the future of its brands, which includes Magnum, Dove and Flora. “I’m a huge believer and very interested in everything related to data, so really understating how data is going to enable us to contextualise and personalise experience and the relationship with people on their terms and not just our terms is interesting.
Equally though, the IoTs will open the door for services like insurers organisation to collect more data on health, wellbeing and even car usage which will enrich the customer data profile and allow service organisations to deliver more relevant communications and offers based on customer needs.
So rich is the IoT territory marketing automation platforms are already jumping on the bandwagon.
According to Marketing Magazine “Salesforce has started opening its CRM platforms to data from connected devices, with support extended to Google Glass, Samsung Galaxy Gear, Fitbit and Facebook-owned augmented reality tool Oculus Rift”. Whilst Adobe announced earlier this year that the Adobe marketing cloud now supports digital content testing, optimization and personalisation beyond web browsers and apps across any IoT device.
The IoT will be the next big to trend that will further drive a significant shift in the way brands market. Is your organisation ready?
It’s been a year since I compiled my latest digital stats summary and so I felt I was long overdue to provide another one.
A lot can happen in a year, it was only yesterday my son was born and next week we are celebrating his first birthday (now you know why it’s been a while between drinks).
In digital a year is like a decade and the statistics demonstrate just that. With consumer consumption across the majority of channels and devices continuing to show upward growth – the biggest thing marketers need to be thinking about is how to reach the connected consumer in a orchestrated fashion.
Whilst building channel strategies is important often these are done with little consideration to the customer journey. It’s time for marketers to build blended strategies and understand consumer behaviour across various channels on the path to purchase to minimise marketing investment / waste and maximise value derived from digital efforts. I often talk about spray and pray in the email space and as brand investment has continued to grow we are seeing a similar approach applied to other key channels like social, display and more. Advertising networks including social, news publishers and beyond are innovating heavily to aid marketers to become more targeted and reach consumers at various stages of the path to purchase rather than just at the awareness phase. To do so marketers need to start taking a risk in Australia, testing and learning in this space to improve returns from digital budgets.
Over the coming few years, brands who leverage these innovations and combine it with their own consumer data to drive sophisticated, relevant and timely digital strategies will rise above the pack.
Now onto the stats…
1. The percentage of Australians owning 3 electronic devices – a smartphone, a tablet and a laptop – has climbed to 53 per cent, from 28 per cent last year – Deloitte Australia, July 2014
2. 56% of Australians own a tablet device up 12% over the past 12 months – Sensis eBusiness Report, September 2014
3. 77% of Australians now own a smartphone up 5% over the past 12 months – Sensis eBusiness Report, September 2014
4. 55% of mobile web users now use mobile as either their primary or exclusive means of going online, an increase from 40 percent in 2013 – InMobi Report
5. Of those Australians who have an internet enabled phone 53% access the internet more than 5 times a day – with one in 5 accessing it more than 15 times a day – Sensis eBusiness Report, September 2014
6. The average mobile user consumes 6.7 hours of media per day, with mobile (23.3%) almost surpassing television (23.8%) in terms of time spent – InMobi Report
7. Tablet ownership is highest amongst Millenials and generation Xers. Over the past 3 years, 67 year olds and over (the Matures) have shown the greatest increase in appetite for tablets and are the only age group to have higher ownership of tablets than smartphones – Deloitte Media Consumer Survey
8. Tablets continue to be used primarily for content consumption rather than content production or creation. Tablet usage in Australia differs across age groups. Boomers and Matures tend to use their tablets for communications, reading the news and e-books, as well as for online banking and taking photos. Millennials and Xers are more likely to use their tablets to watch TV shows and listen to music – Deloitte Media Consumer Survey
9. Australians spend an average of 3.3 hours online for personal use as compared to 2.2 hours watching TV – TSN
10. The Internet as a preferred source of entertainment continues to grow at the same rate as in previous years (10% YOY growth over the past 3 yrs), it will eclipse watching TV in the coming year heralding a significant digital tipping point in our media habits – Deloitte Media Consumer Survey
11. Connected TV use in Australia lags compared to other markets at 42% vs China (83% of those surveyed), the US (58%) and Italy (51%) perhaps due to the limited content offered locally – Deloitte Media Consumer Survey
12. When it comes to online video, men lead the way in terms of consumption whilst the number of viewers across male and female are evenly split men watch 155 streams a month on average, vs. 138 for women—or 12.3% more. They also spent about three-quarters of an hour longer watching those streams – Nielsen Online Ratings & Hybrid Streaming
13. Overall in February 1.1 billion videos were streamed from YouTube with an average time spent among video viewers of 5 hours 43 minutes – Nielsen Online Ratings & Hybrid Streaming
14. e-books are on the rise with almost 32% of Australians purchasing e-books. 66% of those who purchase e-books are reading more digital books than printed books – Deloitte Media Consumer Survey
15. Australian consumers are not willing to pay for news online with 92% of Australians saying that they would not pay, as they believe there is enough information available for free – Deloitte Media Consumer Survey
16. Traditional news formats continue to decline, with 32% of Australian survey respondents now indicating that keeping up to date with breaking news is one of their top 3 reasons for using social media – Deloitte Media Consumer Survey
17. For the year to July total online sales grew by 8.6% to reach $15.6 billion, online sales are now equivalent to about 6.6% of traditional retail spending, up from 6.3% for the same time last year – NAB, July 2014
18. 3 in 4 Australians are spending more than $2,500 each year buying goods and services over the internet – Sensis eBusiness Report, Sept 2014
19. Males are more inclined to make more purchases online, spending on average $3100 compared to $2100 for females – Sensis eBusiness Report, Sept 2014
20. Almost as many Australians reported purchasing on tablets (27%) as mobile phones (30%) over the past 12 months despite higher ownership of mobile phones – Sensis eBusiness Report, Sept 2014
21. On average, 26% of online purchases from Australians are made from businesses located overseas, which has fallen from 32% last year. Australians in the younger age demographics tended to report higher proportions of their online purchases coming from overseas – Sensis eBusiness Report, Sept 2014
22. Age is correlated with the number of connections Australians have online with those 14 – 19 boasting average 511 connections, whilst those 65+ having on average 88 connections – Yellow Social Media Report
23. 95% of Australian social media users are on Facebook – Yellow Social Media Report
24. 61% of social media users under 20 use Snapchat – Yellow Social Media Report
25. 19% of female social media users use Pinterest – Yellow Social Media Report
26. 71% of Australians now use their smart-phone to access social media sites – whilst tablet usage isn’t far behind laptop computer usages at 39% and 55% respectively – Yellow Social Media Report
27. Video advertising grew 76% to reach $196 million during the 2014 financial year – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
28. Online advertising expenditure for the 12 months reached $4.387 billion, 22% higher than last year’s result. Search and directories was the largest part of the pie at 52%, followed by general display (29.2%) and classifieds (18.8%) – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
29. Mobile advertising has grown strongly reaching $620m in the year to 30 June, making it now larger than the total magazine market – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
30. 36% of Australian survey respondents expressed some concern about their social networking posts/tweets being used for advertising or promotion purposes, with 17% ‘extremely concerned’ about it – Deloitte Media Consumer Survey
Watch: Australian Digital Media and Digital Economy Statistics
Last week, the very influential Mary Meeker released her 2014 Internet Trend Report at the Code Conference in California.
If you don’t have time to wade through the 160+ page report – here is my summary of some of the most interesting insights for marketers with an Australian take on it (where possible).
1) From social broadcasting to selective messaging
Tech acquisitions often shed a lot of light into where things like social media are heading, so when Facebook attempted to acquire SnapChat and went on to purchase WhatsApp it became pretty clear that people were beginning to favour private communications over public social networks. In the past 12 – 18 months, we have seen the popularity of messaging apps soar as consumers seek more control over who sees a message or photograph – demonstrating a shift from broadcast type social messaging to communicating to a select few. This consumer shift will change the way brands use social media with these direct messaging services providing brands with new tools to find and build relationships with individual customers.
With recent statistics demonstrating apps like Snapchat are growing in popularity down under – with approx 10% of the online population already using the Snapchat service, it’s one Australian marketers need to watch closely and consider relevance – particularly brands operating in the youth brand space.
2. Content generation growing but becoming unfindable
As consumers shift some of their focus and attention to communicating via messaging apps – there is a growing amount of unfindable content being generated which limits marketers’ ability to capture brand perceptions and sentiment as well as glean data from social on individual consumers.
3. Mobile growth unabated but mobile advertising still flat
Mobile internet usage continues to grow, with mobile data rising 81% year over year and now making up 25% of total web usage. Despite the significant growth, globally mobile advertising represents just 11% of internet advertising demonstrating lots of room for growth in the years ahead.
In Australia, mobile internet usage trumps usage on any other device making up 33% of all minutes spent accessing the internet. In line with global trends there is significant upside and growth opportunity in mobile advertising down under with mobile internet advertising currently attracting just over $1 in every $5 spent in display, and 17% of all search advertising spend according to the IABs recent statistics.
4. Single purpose apps all the rage
Part of the success of apps like Instagram, WhatsApp and others has been attributed to their single minded purpose. We are seeing tech giants globally begin to invest in single purpose apps i.e. Facebook Messenger to ensure important features that drive usage and interaction are not buried under a mound of functionality.
5. Rapid growth in sensors drives innovation & big data
The rising growth in mobile handsets shipped with sensors will pave the way for the next generation of mobile experiences – as the increasing number of sensors embedded into mobile devices provides an opportunity to create new / more engaging experiences. Equally the growth in sensors is also anticipated to create troves of additional data to mine, contributing to the big data mind-field.
6. Tablet continues to power ahead
The growth of table, seems to continue to roll on growing 52% in 2013, and uptake has grown faster than PCs ever did however penetration globally remains low. The low levels of penetration and high levels of growth indicate there is still significant upside for tablet growth in the years ahead. Locally however it is quite a different story. According to Telstye, sales of tablets in Australia reached 4.8 million in 2013, and it is now estimated that tablet penetration stands at 40%. Telsyte estimates that 29 per cent of units sold in 2013 were Low (<$200) or Medium ($200 – $450) cost, and anticipates these segments to grow to over 50 per cent of sales by 2018, given current trends – which demonstrates Apple share will soften in the coming years in Australia.
7. The evolution of TV a key space to watch
A solid portion of the report focussed on the evolution of TV – which demonstrates the significant amount of change occurring in the space.
Some of the key trends include;
• Traditional TV is being replaced with mobile apps as broadcasters seek to provide consumers with new ways to consume content on the go
• Millennial’s are leading the charge in online TV consumption shunning traditional TV viewing.
• The growth of new premium channels on YouTube can’t be ignored providing consumers with more choice – much of which is being consumed via mobile (approx 40%)
8. Instant gratification drives same day delivery
As free shipping moves towards the norm globally, with approx 47% of online transactions coming from free shipping – the next big horizon is same day delivery to satisfy consumers need for instant gratification. As geographical constraints have led to slower adoption of free delivery by retailers in Australia (due to cost), it is anticipated that same day local delivery will fail to become the norm locally for quite a number of years yet as logistics prove too difficult for most retailers to master.
To view the full report click here
Watch: Takeaways from Mary Meeker’s Internet Trends report 2014
Australian publishers, agencies, industry bodies and bloggers are pumping out a raft of valuable resources which can support strategy / business case development or to simply get up to speed with the digital landscape. This article is a compilation of some of the best infographics, case studies, reports and more that I have come across on the Australian digital market. If you have come across any other valuable resources please share them via the comments field below.
Content Marketing Resources
1. Report: Content Marketing in Australia: 2014 Benchmarks, Budgets and Trends
Published: November 2013
Overview: Compiled by the content institute, ADMA and KingContent – this presentation takes a look at the state of content marketing in Australia vs the UK and US. The presentation covers statistics related to investment in content marketing by marketers, key challenges faced and more.
2. Blog Article: 17 excellent examples of content marketing in Australia
Published: January 2014
Overview: This article is a great compilation of brands both large and small in Australia leveraging content marketing to achieve key marketing objectives. Case studies covered include Intrepid Travel, MYOB, kikki.K, Telstra, Netregistry and more.
View here: http://www.expermedia.com.au/17-excellent-examples-of-content-marketing-in-australia/
Digital Media Resources
3. Diagram: MediaScape – Guide to Australian Digital Media & Advertising Trading Landscape
Published: December 2013
Overview: If you are new to the digital media space, this useful diagram provides a detailed overview of all the options that exist within the digital media trading market in Australia. It serves as a useful cheat sheet for discussions with your media buyer.
View here: http://www.mediascope.com.au/guide-digital-advertising-sales-agencies-networks-exchanges
4. Infographic: mCommerce & Mobile Shopping in Australia
Published: May 2013
Overview: This infographic combines data from an array of sources to provide insight into the mobile shopping landscape in Australia. The infographic details statistics on showrooming by Australians, popular mobile shopping categories and more.
5. Report: AIMIA 9th Mobile Lifestyle Index
Published: October 2013
Overview: You might need to get yourself comfortable before reading this report as it is 99 pages. The AIMIA Mobile Lifestyle Index is a yearly study now in its 9th year. The report contains a host of valuable statistics related to mobile usage in Australia – from smartphone market-share to key activities consumers engage in via their mobile device.
Download here: http://www.aimia.com.au/ampli
6. Report: Telstra’s How Mobility is Changing the Rhythm of Australian Retail
Overview: This detailed report provides insight into the Australian mobile shopper – including analysis of the role mobile plays in influencing consumers at various stages of the path to purchase. This is a great resource for any marketer operating in the retail space.
Download here: http://www.telstra.com.au/business-enterprise/download/document/business-enterprise-teg1398_mobility_retail_white_pages_v08_hr_singles.pdf
7. Report & Infographic: State of Social Media in Australia
Published: May 2013
Overview: This report / infographic explores both Australian consumers consumption of social media along with how businesses are leveraging social media (with a focus on small businesses). From a consumer perspective the report provides a host of statistics on consumer social usage in Australia including the portion of consumers using social media when viewing TV, the portion of consumers accessing reviews via social channels and more. Whilst from a business perspective, the report looks at business uptake of social, budget allocation to the channel and other key statistics.
8. Report & Infographic: Social Customer Care
Published: November 2013
Overview: Social Pulse released a comprehensive report detailing how customers use social media to make enquiries. The report also details what customers expect from companies and how companies are responding to social media queries.
View the infographic here: http://www.marketingmag.com.au/tags/customer-service/#.Uvcq0_mSyOg
For a copy of the full report contact Social Pulse here http://socialpulse.co/social-customer-care-report
eCommerce / Multi-Channel
9. Report & Infographic: NAB Retail Sales Index
Published: Monthly & Quarterly
Overview: Over the past few years NAB has published monthly and quarterly retail sales indexes. The index provides insight into eCommerce growth in Australia, domestic vs international share of online purchases and more.
View the October quarterly infographic here; http://business.nab.com.au/online-retail-sales-index-indepth-special-report-october-2013-5126/
View all available reports / infographics here: www.nab.com.au/onlineretailsales
10. Report: Optus Future of Business Report
Overview: The Optus Future of Business 2013 research report offers detailed insights into how the retail industry is adapting to succeed in an omni-channel environment. The research also reveals what consumers expect of service channels now and in the future.
11. Infographic: Online Gift Purchasing – Christmas 2013
Published: January 2014
Overview: Hot off the press this infographic summarises Australians online buying behaviour during December 2013 – detailing key reasons consumers shopped online at Christmas, types of gifts purchased online and a host of other valuable statistics.
View here: http://cdn.marketingmag.com.au/wp-content/uploads/2014/01/Infographicfinal2.jpg
12. Infographic: Nielsen Australian Connected Consumers
Published: November 2013
Overview: This infographic compares Australians digital usage and consumption behaviour 10 years ago vs today. This infographic demonstrates the growth / change in device ownership overtime, uptake of social media, online advertising spend investment and more.
13. Infographic: Australian Baby Boomers Online Media Usage
Published: April 2013
Overview: Mi9s Baby Boomer infographic puts the spotlight on the over 50s Australian consumer. The infographic details weekly consumption of the internet statistics, multi-screen ownership data and online purchasing behaviour.
View here: http://cdn.marketingmag.com.au/wp-content/uploads/2013/04/Mi9-Baby-Boomers-infographic-2.jpg
It’s that time of year again – tinsel, lights, too much food and digital predictions for the year ahead. With a host of digital experts touting what we can expect in the year ahead, I have curated what I believe to be the most interesting predictions for 2014.
Augie Ray, former Forrester analyst suggests a focus on paid media will eclipse earned media in marketing strategies. As Facebook and Twitter continue to monetise their social platforms and brand noise continues to rise – it is going to be harder to succeed in the social space unless you pay to play. Thus in 2014 brands will leverage paid as an important part of their social strategy more than ever before.
According to Adam Vincenzini from Kamber, an Australian content agency, 2014 will be the year where content promotion takes a bigger chunk of media spend. As brands have been heavily investing in content production in recent years, brands are recognising that this great content is often not gaining the reach / visibility to gain maximum impact. Thus in 2014 we will see more and more publishers creating content solutions to enable brands to work their content assets harder.
According to Quartz, 2014 will be the year the internet of things takes off. Quartz suggests until recently, connecting a device to the internet was expensive and difficult. But in the past year or so, companies like Qualcomm, Intel and Texas Instruments have created inexpensive, power-efficient chips that enable pretty much anything to connect to the internet via Wi-Fi, or to a mobile phone via a standard called Bluetooth Low Energy. As a result innovation by big corporates as well as start ups will accelerate in 2014.
But what does this mean for marketers?
One of the most notable outcomes of the IoT, is that these smart technologies gather a tremendous about of data and for marketers trying to already grapple with the tremendous amount of data already available the IoT adds another level of complexity. Although this challenge will probably not be one marketers need to tackle in the year ahead given the IoT is still emerging.
According to ExactTarget, location based mobile commerce will begin to flourish driven by technology and application innovations like iBeacon.
Kyle Vanhemert in his inWired article described the potential of iBeacon;
“You step inside Walmart and your shopping list is transformed into a personalized map, showing you the deals that’ll appeal to you most. You pause in front of a concert poster on the street, pull out your phone, and you’re greeted with an option to buy tickets with a single tap. You go to your local watering hole, have a round of drinks, and just leave, having paid—and tipped!—with Uber-like ease. Welcome to the world of iBeacon.”
Whilst second screen usage is not new, few brands have taken advantage of it – particularly when it comes to tapping into the social TV trend. Millward Brown believes 2014 will bring a host of new social TV opportunities. According to Millward Brown “the social TV opportunity will be expanded as Twitter introduces additional audience-based targeting opportunities. Millard Brown writes “based on their data connecting TV to social media usage on the second screen, Twitter will be able to define like-minded communities organized around TV viewing habits. Eventually this will lead to more sophisticated psychographic targeting when those audiences are further segmented based on other interests and habits. For brands that are title sponsors of a show or an event, this means they will be able to continue targeting their show-specific audience long after the event itself, and not necessarily just when those people are tweeting or reading about show-specific content.”
In an era of Big Data, marketers equally need to grapple with disappearing data. In 2014, David Berkowitz, Chief Marketing Officer of MRY believes marketers are going to have to come to terms with disappearing data in the social space with new social applications like Snapchat gaining momentum. Such a trend will make it more difficult for marketers to track and target consumers. Equally as companies seek to capture more data than ever before consumers will increasingly prioritise privacy, which puts pressure of law makers to legislate against the capture and storage of various pieces of information. Search marketers already have to come to terms with disappearing search query data from Google – expect much more of this in the year ahead.
Watch: Game-Changing Digital Predictions for 2014