Category Archives: Technology

The Marketing Technology Landscape

I’m not 100%  sure how to address the growing complexity of the marketing function, except to suggest that you take some time to re-evaluate and redefine what marketing is about. Consider layering in your technology mix along with your media and marketing mix. Then bring together a team of mobilists, technologists, data analysts and creative folks and you can get the ball rolling.

– Ted Morris, 4ScreensMedia

The CMO Dilemma continues: IBM’s 2011 Global CMO Study

IBM recently released “From Stretched to Strengthened: Insights from the Global Chief Marketing Officer Study”.

The executive summary is here. To obtain the full text, go to:  http://www935.ibm.com/services/us/cmo/cmostudy2011/cmo-registration.html .

The most compelling finding is the first: CMO Underpreparedness. Thematically, it fits a number of opinions expressed in the 4ScreensMedia online journal. Data, devices and social/digital media are three of the most challenging areas for a CMO to understand and leverage. This triad, if you will, is characterised by exponential growth, the shortest of product lifecycles and the problematic aspect of measurement.

 

I highly recommend you read the report especially as a marketing professional. Getting a perspective on what’s on the mind of the global CMO is extremely valuable when it comes from a large and respected firm such as IBM.

As much as technologists are shedding light on the marketing function, marketers ought to be doing some listening of their own and thinking like ‘marketing technologists’.

– Ted Morris, 4ScreensMedia

The Zettabyte Era: A Brave New World of Devices

Cisco VNI 2011

 
Big Data is getting bigger. Here are some top findings from Cisco’s latest VNI – Visual Networking Index:
 
IP traffic will increase worldwide 4x by 2015, reaching 966 exabytes or just under 1 Zettabye (which is 10 to the 21st power).Factors that are driving this growth, include:
  • Video, as it is increasingly a part of nearly every networked experience.  By 2015, one million minutes of video – nearly two years worth – will cross the network every second.
  • More devices are connecting to the network – we forecast more than 15 billion will be on the network by 2015, making it on average more than two devices (whether it be a PC, phone, TV, or even machine-to-machine) per person for every person on earth (and if you’re like me, you’re an “overachiever” on this number, with well over a dozen devices connected to the network…by the way, just how many network connections are you responsible for?)
    • More people will be using the network – a total of 3 Billion people will be on the network in 2015, compared to 1.9 Billion estimated in 2010, due to increased broadband penetration – much of it mobile – and accessibility of lower cost devices.
    • Increased speed – overall connectivity speed doubled from 2009-2010 from 3.5 to 7Mbps and is expected to increase 4-fold to 28 Mbps by 2015.  This is relevant because when people can do more with the network, they tend to do so… video usage increases all the more which starts the cycle all over again.

– Ted Morris, 4ScreensMedia

 

The ROI on Social Media: Time to bring in an accounting framework

CMA Magazine

It’s time for Social media and social commerce to step up to the plate when it comes to accountability.

I’ve seen a lot of talk about the benefits of social media often without supporting financials that make for a solid business case. What I have seen so far tends to be a typical set of flimsy metrics, that, while indicative of incremental performance, do not explain causality to the bottom line. Other cases have used the term “ROI” very loosely without regard to the rigour of GAAP financial accounting methods. In short, I felt that it was time to speak to the issue. With the help of Syncapse, TD Bank and McDonald’s, I have opened the discussion of the kind you may want to have with CFO if you’re intent on moving the social media agenda forward within your organization.

The article can be found in the Premier issue of CMA Magazine – a newly revamped version of CMA Management Magazine, geared to the Digital Age.

http://www.nxtbook.com/nxtbooks/naylor/SMAS0111/#/20

I have always been fortunate to have a long standing relationship with CMA Magazine. Back in 2003 I wrote my first article titled “What Management Accountants Should Know About Market-Driven Quality”. 

Over the years, I authored 4 articles and one book of guideliness (when I partnered with Bradley T. Gale, formerly of the PIMS Institute) the recurring theme has been about financial accountability. This has always been important to me as a business manager based on my belief that if the impact of an activity cannot me measured, specifically in a ways that draws a link between money invested and return on that money invested, then it should be questioned insofar as its contribution to the performance of the enterprise. This does not suggest that everything needs to delivery hard financials re. EBITDA. What is does mean is that every activity has to have some associated set of metrics that help to explain the value of that activity and its relative contribution.  Whether you use hard financials or a series of performance metrics across all functional groups, measures are required in order to gauge the return on effort.

Being a manager means being accountable for your actions.

Ted Morris – 4ScreensMedia

Seeing Through the Cloud of New Media Choices

A Cloud By Any Other Name Is Still A Cloud: Outcomes are only clear once out of the cloud.

I recently had the good fortune to write an article on behalf of the Association of Canadian Advertisers – ACA. My intent was to provide a fly-over of the complexities of the current media environment and the effect of Social Media as an additive element to what the Boston Consulting Group – BCG refers to as the “CMO Dilemma”   in managing the overall media mix within a Galaxy of Media Choices. To emphasize – this is not a matter of choosing one communications medium over another, nor is this advocacy for Social Media. It’s about making the best choices in the determining the optimal media mix for a product category, brand or creative concept.

The ACA’s membership is advertisers. Numbering some 100+,  all are household names such as Clorox, MacDonald’s Restaurants, Coca-Cola Ltd, Hasbro, Visa, Kraft and Nokia. One aspect of the ACA’s mission is to ensure that their membership “…maximizes their investments in all forms of marketing communications”. The italics is mine, if only to underscore the tremendous challenges that face the CMO in seeing through the cloud of new media choices and effectively managing media mix resources. It’s easy to theorize and point out media success stories, it’s another thing to roll your sleeves up and do the heavy lifting.

Here is the full text of the article:

http://www.acaweb.ca/en/social-media-seeing-through-the-cloud-of-new-media-choices/

En francais: Les médias sociaux : comment s’y retrouver dans ce nuage de choix?

http://www.acaweb.ca/fr/les-medias-sociaux-comment-s%e2%80%99y-retrouver-dans-ce-nuage-de-choix/#more-3875

– Ted Morris, 4ScreensMedia

Ahead of the Curve Behind the 8-Ball

It wasn’t long ago that the clamoring for CEO’s to get with the latest program by using Twitter and various social media platforms, reached a feverish pitch.  As usual, those forever looking for shreds of evidence that ‘social media’ pays out a clear cut ROI, would trot out lists of companies (and their CEO’s) who ‘got it’. Funny thing was, most of those lists, and many related cased studies were  mainly of obscure companies in the early stages of growth. Naturally, a 500% growth rate as a result of using Twitter, was impressive though less so when the base number for that growth rate was near zero, the kind of stats that investment fund advisors like to use when people have little appetite for buying stocks following a market meltdown. 

There have been case studies, some from reputable technology analysts, touting remarkable cost savings. Beyond the headline, the data showed a savings of $4M over 3 years for a certain USD$100B technology provider using social media as a collaboration tool.  In the end, this seemed a bit on the light side. No pun intended here but greater savings might have been had by turning the office lights off when people left for the day.

There has also been a lull in those declaring their location. Shout outs for Foursquare and various locational platforms seem rather muted of late. The initial interest seemed to be focused around luring people into retail premises by pushing discounted offers out to the latte-rati, more recently up-sized to the Starbucks version of 7-Eleven’s Big Gulp. Adoption hasn’t been that broad and one wonders if location-based applications are still looking for a real business problem to solve.

Lastly, not to make too fine a point, recent press by ‘those in the social know’ are now suggesting that too many offers, tweets, friending by brands for the sake of friending and a general overloading of Facebook fan pages by some brands, has started to turn some people off. Mashable had some recent thoughts on this issue of why people are unfollowing certain brands. I also expressed in a post from last year, building on a thought piece by the Economist, that there is so much data out there, one wonders what is to be done with it all – and that was when YouTube, Facebook and the like where just getting ramped up with the posting of video and photos. Clearly, when a brand fails to deliver on the promise, even CEO tweets can’t come to the rescue, GAP logo changes notwithstanding. Again, ask yourself, are we solving a business problem or just creating stuff to do because we’re not sure exactly what to do?

If you’re indeed feeling both ahead of the curve implementing certain technologies and behind the eight ball in terms of getting measureable business results, consider this: any organization that undertakes a transformation, in this case toward the Social Enterprise, cannot achieve success by leading with technology. This is what happened to early adopters of CRM in the last decade. Success can in fact be achieved, notably for companies that are truly customer-centric (culture/process/technology) who understanstand those things that deliver value to the customer relative to competition re. the “Outside-In” approach. IBM, Ford, McDonald’s, P&G are a few companies who do this consistently and have the financial results as proof.

This is not news, in fact, it’s an old principle advocated by Peter Drucker some 50 years ago. While it’s tempting to drink the latest elixir of technology, it pays to stick to managerial fundamentals, much like accountants use GAAP methods to keep track of every dollar earned.

– Ted Morris, 4ScreensMedia

Algorithms Predict, Brands Build Relationships

Bloomberg news recently published “Can Computers Predict the Next Big Thing?” a perspective on predictive analytics. 

One of the most ingenious predictive capabilities involved the identification of ‘organic’ trends in the form of viral buzz.  By seeding the most talked about items, one brand’s campaign was successful in leveraging organic content  (earned media), resulting in a spike in sales.

At the end of the day, as the article rightly implies, the power of a brand lies in its ability to persuade and strike a chord at the emotional level in humans – the very thing an application or algorithm cannot do.

– Ted Morris, 4ScreensMedia