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  • Exploring Metaverse Fashion Week: What’s the opportunity for influencers?

    Date: March 30, 2022

    Categories: Influencer Marketing, Influencer World, Social Media

     

    Source: @mahaha0

     

    The first-ever Metaverse Fashion Week took place in Decentraland from March 24th to the 27th. 

    Over 60 different fashion brands showcased more than 500 looks throughout the event. 

    From virtual runways, meets with designers to opening stores and afterparty events, the MVFW was one of the biggest game-changers for the fashion industry we have ever experienced. 

    The MVFW opened their audience from a small niche to a vast audience; anybody on Decentraland could assist since it was free.

    Visitors could buy NFTs of the fashion brands using cryptocurrency MANA’s platform through their digital wallets. They could either buy the look digitally or later transform it into physical. 

    The highlights 

    The MVFW started with London-based retailer Selfridges opening its flagship store with an immersive experience from Paco Rabanne + Victor Vasarely’s collection. 

    Estee Lauder launched NFT wearable, inspired by their famous serum Advanced Night Repair that users could claim and give their avatar a unique glowing by stepping in the virtual Advanced Night Repair “Little Brown Bottle”. 

    Tommy Hilfiger showcased its spring collection and opened a virtual store during the MVFW.

    The items for visitors to buy NFTs were the madras shirt for women and a unisex hoodie bearing the Hilfiger logo. Visitors could obtain physical versions of the items by redeeming the NFTs.

    But, the biggest highlight at the Metaverse Fashion week was the presence of Sophia, the world’s famous humanoid robot created by Hanson Robotic from Hong Kong. Inside Decentreland, visitors were encouraged to spot Sophia take a selfie with her and then share them on Twitter by #findingsophiatherobot.

    The new fashion influencers of the Metaverse

    One of the new world’s most exciting fields is what kind of marketing and content creation can brands offer in the Metaverse—knowing that more data will be available for advertisers and that targeting will be new. 

    Brands will have to create their digital twins and follow or dictate new trends in the Metaverse.

    Influencers have already started thinking about creating their avatars to work with brands in the Metaverse. Post for Rent has built a centre for digital influencers in Decentraland to become the “bridge” between the physical and virtual world.

    Brands like Prada, Puma and Yoox have already created their influencer avatars like Shudu and Lil Miquela. Prada’s new muse and influencer named Candy is an avatar dressed as Prada from head to toe, even adorned, and looks exactly like any other influencer.  

    The Metaverse gives influencers a whole new playing field, not only with their fans but also with other influencers. They can share brand experiences more efficiently, be connected and interact in the same space simultaneously. 

    However, this new virtual horizon for brands raises a big question for the world of influencer marketing. 

    Should influencers build their avatar replica for the Metaverse? Or should brands create a new separate and distinguished influencer world inside the Metaverse? 

     

     

     

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  • “Just setting up my twittr”

    Date: March 22, 2022

    Category: Social Media

    Fifteen years ago, Twitter was born. However, this is not viral on Twitter. What’s viral today is the Korean singer Seulgi, the Boeing 737 crash in China and the Barcelona Club victory. The trending topics on Twitter are sometimes trivial, and others are not. It’s been part of Twitter’s identity from the first day it started and from the first-ever tweet, “Just setting up my twitrr,” Dorsey posted. 

    At first, Twitter was nothing more than an internal communication tool for Odeo, a small San Francisco podcast company. Above all, its first users dealt with the blandest everyday topics until August 3, 2006, when a small earthquake hit San Francisco. Soon the tweets began to talk about whether anyone had noticed it. One of the four Twitter founders, Biz Stone, recognized these “first” earthquake tweets as historical. They were a clear example of how informative and extensive Twitter was and how good of a tool it could be. 

    In 2008, after the Bombay attacks, we confirmed Twitter’s informative effectiveness; images and tweets informed traditional media of the last-minute news. In 2008, two years after that well-known first tweet (“Just Setting up my twttr”) by Jack Dorsey, Barack Obama won the elections, and Twitter was one of the key platforms of his campaign.

    The future of Twitter 

    The “fastest-growing conversation topic”, cryptocurrency, is at the top of the finance category. 

    “We’re witnessing an upswell of passionate crypto-enthusiasts with people on Twitter 3.2x more likely to consider investing in crypto than those not on Twitter,” wrote Jeff Melei, Twitter’s Director of Financial Services

    Twitter is taking a stand on cryptocurrency and NFTs, with the Bitcoin Lightning Network tipping feature and the NFT profile picture integration.

    Currently, the social media platform is also testing a new way to maximize your Spaces content by giving an option to create audio clips of up to 30 seconds directly from your audio broadcasts in the app. 

    The new clipping tool helps you create audio clips from a recorded Space, which can be shared via tweet, linking it to the entire recording.

    In the US, the platform is continuously evolving and improving the experience for its users. Twitter is working to offer a better experience to brands and consumers by opening the Twitter Shop shortly. Brands will be able to present up to 50 products to their followers in this space by just adding the “View shop” button to their profile. 

    This way, brands and users will be able to link their tweets to potential products and create a stronger bond through the platform.

    Brands & Twitter 

    Twitter has been in our lives for 15 years; we all know its essence and power, but we still need to remind ourselves why our brand should be on Twitter and how it should perform.

    Perhaps what distinguishes Twitter from the rest of the social networks is its spontaneity. 

    Unlike networks like Instagram or Facebook, where messages seem to be much more measured, users have the feeling that on Twitter, celebrities, politicians or companies express themselves as they like. 

    This may be due to the social network’s briefness on messages and the simplicity of other users interacting with it. In any case, this main feature is what brands must consider when communicating through it.

    We might all know the main helpful marketing tips we need to succeed on Twitter, but we should always keep them in our minds. 

    • Develop your voice: 

    You need to develop an authentic voice to help your brand stand out from the noise. Show your personality, be human, be original and always spell correctly; there is no edit button. A well-known brand that has managed to define its brand voice is Wendy’s; they are capable of joking around trends and life news without ever leaving their spirit. 

    “We like our tweets the way we like our fries: hot, crispy, and better than anyone expects from a fast-food restaurant.” @Wendys. 

    • Be a hashtag pro: 

    Most social media platforms have the hashtag feature, but Twitter was the first to use it. So be a pro of it. Tweets with appropriate hashtags get double the engagement than without hashtags, but that doesn’t mean you can use all the possible ones you can imagine. It would help if you created branded hashtags and always used industry-related hashtags.  

    • Listen to your audience: 

    Twitter is one of the best platforms to spot your audience. Conversations are fluid and free; you can learn what Twitter users think about your brand and products and learn from other discussions. Use Twitter’s advanced search tool to find these conversations. Twitter is mainly about talking, but you need to listen too as a brand. 

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  • Pinterest jumps into the social e-commerce race

    Date: March 17, 2022

    Category: Social Media

    Pinterest, with 459 million monthly active users (MAUs) worldwide, is fifth in the list of the preferred social media platforms for purchasing, chosen by only 3% of the consumers. Meanwhile, with 1 billion MAUs and 500 million users every day, Instagram is positioned as the second most preferred social eCommerce platform, chosen by 23% of surveyed consumers, and only behind Facebook. (Source: Statista).

    Pinterest is determined to transform its site into a 360 shopping destination.  Pinterest’s latest ambition is to grow online shopping and advertising by offering checkout functionality to customers. 

    Brands and advertisers will promote their products to users on its site. And users will have the chance to buy directly from Pinterest. The aim is to encourage customers to find inspiration and buy more items at once. 

    As we already mentioned in our latest report, ‘Consumer Trends 2022’ by 2026, 60% of millennial and Gen Z consumers will prefer making purchases on social platforms over traditional digital commerce platforms, meaning that probably the next customers’ favorite store will be a social platform. 

    WHAT ARE THESE NEW FEATURES? 

    Users will complete an entire purchase on Pinterest without leaving the app at any time. 

    They will have access to a personal shopping page, called Your Shop, with all the creators and brands’ products. Your Shop is still a pre-release version for U.S users but will roll out nationwide later this year. Now users can save, pin, and buy all the products they desire from their board. 

    The “Shop” will automatically add shoppable products that users save and remind users of their favorite products.  

    On the other hand, brands will significantly impact their customers thanks to new features such as the “Merchant details” that showcase brand values. Or the Verified Merchant Program that helps users find vetted brands in Australia, Brazil, Italy, Mexico, Netherlands, Spain, and Switzerland and enhances brands with a “verified” badge. 

    WHY IS THIS A GAME-CHANGER FOR BRANDS?

    “People who use Pinterest weekly are 7x more likely to say it’s the most influential platform in their purchase journey, compared to social media platforms. That’s why, as of today, we’re dramatically expanding our suite of shopping solutions for advertisers,” said Jon Kaplan, Chief Revenue Officer at Pinterest. 

    Bigger carts than other platforms

    Pinterest notes that shoppers have 85% bigger carts than other platforms and spend twice as much per month. Customers scroll down endless products, brands and inspiration through Pinterest. Many of their shopping decisions come directly from the inspiration they find on Pinterest. So why not allow them to buy instantly from it? 

    An enhanced | fully integrated consumer experience 

    Previously, users would be redirected outside Pinterest to a merchant’s site to finish their purchase. Many users would follow through with the purchase but drop off when a new merchant page would pop up. 

    Pinterest’s new features are a game-changer; brands can start an ongoing relationship with their customers, develop different brand interactions and experiences and reach a vast audience focused on strictly social e-commerce shopping. 

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  • Instagram’s new payment model is here 

    Date: February 9, 2022

    Category: Social Media

    Facebook-owned Instagram has announced a move that could allow creators to monetize their profiles by introducing a new monthly subscription button. 

    Until now creators have had to rely on displaying ads and sponsored content on their accounts, but with competition from social media sites such as TikTok, the platform has been trying to develop new features to stay relevant and entice new users.

    What exactly are users being paid for?

    The subscription feature will allow users to subscribe to creators’ accounts on Instagram for a monthly fee that could range from $0.99 to $9.99 a month. According to The Verge, users will have the option to subscribe on a monthly basis. At the moment this feature is limited to macro influencers in the US who can create a private version of their profile that’s only accessible to paying followers.

    What are Instagram subscriptions?

    There will be normal, free content that every follower can see and these profiles will also contain content that can be accessed for a small monthly payment. It’s a similar model to other platforms like Twitch or YouTube.

    As it’s the same subscription model as Facebook, it can be assumed that the format will be similar. This means that it may be limited to creators with more than 10,000 followers or more than 250 returning viewers on their streams. Similar to Facebook, it could also require more than 50,000 interactions with posts and 180,000 minutes of viewing.

    The three different subscriptions 

    Instagram offers three different options for accessing this exclusive content. One is Subscriber Lives, live videos to which subscribers have exclusive access. These differ from other live content because they are highlighted by a purple circle, as Instagram CEO Adam Mosseri confirms.

    Subscriber Stories, on the other hand, are stories that are only for users who have subscribed to these channels and who can interact with creators through the use of “stickers”.

    Finally, Subscriber Badges allow content creators to tag their subscribers with a purple icon when they comment on their posts in the feed.

    Generating revenue from posts would complement other existing content creation services, such as Instagram Collabs, a co-authoring format that allows you to share feed content and reels with another user in a single post.

    Instagram isn’t the only platform looking to try out new paid subscriptions. Twitter announced last year that it was working on a content creator feature called ‘Supper Fellow’ that will allow subscribers to receive exclusive content. Other social platforms such as YouTube, TikTok, or Pinterest are also joining this trend towards monetized content.

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  • The future of live commerce

    Date: January 25, 2022

    Category: Data & Metrics

    In an age where everything moves fast, live videos have been rapidly on the rise on social media. They first appeared on sites like Facebook, YouTube, and Instagram, but other platforms for this type of content are emerging.

    Live videos are very popular among Millennials and Gen Z and this trend also indicates the increasing importance of live e-commerce. To stay relevant, brands need to understand the value of live e-commerce and take advantage of it.

    Live shopping is happening on two fronts. One is on social media platforms such as Facebook, Tik Tok, Twitch, and Facebook, which make it easy for users to buy the products they see during video streams. And secondly, the brands themselves use the technology to take advantage of their infrastructure.

    Instagram Live:

    You can see how brands are using influencers in live streaming. Not only do influencers sell things, but businesses also get more brand awareness through live content. Live commerce on Instagram is based on the fact that an influencer’s job is to showcase a product via streaming.

    Almost 37% of adults in the US actively use the app.

    Live videos on Instagram help your brand discover and purchase new products by humanising your brand through a storytelling format.

    According to a 2020 Instagram Trends research study, 44% of people surveyed use Instagram to shop weekly, using features like shopping tags and the Shop tab, and 28% of their shopping activity. From browsing to searching to buying, Instagram is now a place where people consciously shop and get inspired.- Source: Instagram Trends 

    The social media that attracts more viewers, content creators, and brands more than ever before: Twitch

    The new social network Twitch is experiencing remarkable growth. With so many events cancelled due to COVID-19, Twitch saw a gap in the market, and its live content has now appealed to more than 41 million users in the US. 

    One example of brands using live content is Tyler, one of the most popular streamers on the platform. He broadcasts himself playing video games and has nearly 5 million followers around the world watching him. He earns more than $200,000 a month from Twitch ads and viewer subscriptions and is sponsored by huge brands such as Doritos and Nike.

    Twitch viewers can easily browse and buy the Twitch streamers’ products without leaving the stream.

    The big difference between Instagram Live and Twitch is that the Instagram audience values perfection, while fans on Twitch flock to the most imperfect streamers, but the truth is that in 10 hours of gaming marathons, no one can stay perfect.

    The appearance of a new app for live content

    New apps are appearing every day to join the live content trend. For example, the BEREAL app, which launched recently with a different proposition to the standard social media platform. BEREAL changes the context in which you post, showing us that when it comes to content creation, “natural” is best. The user can post a photo in the moment and place that the app sends a notification, and you only have two minutes to do it. The posted photo will be deleted the next time you upload a new photo.

    Live Commerce not only expands the monetisation opportunities for short video players but also the earning opportunities for creators, with so many social media platforms innovating in the live content space, we can expect it to continue to evolve in the future and for consumers to use it more, which is why brands should capitalise on this and continue to focus on live content creation.

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  • Mental Pride: it’s time to come out of the closet

    Date: January 13, 2022

    Category: Influencer World

    And this is definitely good news. It has become more natural to talk about therapy and this encourages other people to share their own experiences, with no stigma or judgement. Therapy starts to be considered a logical step toward overall wellness, the perfect blend of physical and emotional health while mental health can be considered a new symbol of status.

    Reaching this sort of balance has become a priority for many people due to the amazing impact that it has on their day-to-day lives, either personally or professionally. That’s why many companies are getting more conscious about this issue and are strongly encouraging workplace wellness programs and initiatives aimed to enable easier access to mental health among their employees. 

    In the same way, many brands around the globe have understood that this trend is also an opportunity to speak to their customers from a more personal and human position, to create a closer relationship between them and the brand. New insights and decision points emerge, such as naturalness, open-mindness, endurance, optimism…

    Did you know that Gen Z is the generation most likely to report mental health concerns?

    Indeed a study found that many Gen Z workers usually suffer from anxiety and stress. Several studies conducted by Deloitte or the American Psychological Association, among others, reveal that 48% of Gen Zs feel anxious or stressed most of the time and also that nearly 9 in 10 Gen Z adults report having at least one or more emotional or physical symptoms because of various stressors in their lives.

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  • Key factor to meet Black Friday 2021

    Date: November 18, 2021

    Category: Social Media

    This 2021 has been a different year where the need for social distancing, the impending economic crisis and the existence of a more conscious consumer make brands rethink their strategies for this Black Friday, one of the most consolidated and relevant events in terms of sales for companies.

    The 10 keys to Black Friday 2021

    Local proximity

    Until the advent of the pandemic, most of the BF conversion revolved around deep markdowns and discounts. However, with all that has happened, there has been a change in the consumer, who is more inclined to small businesses, the neighborhood, in short, local consumption. These smaller businesses cannot afford big sales, but they can participate in the BF with a small extra gift or free shipping of their product.

    Proof of this is Amazon, which in 2020 was the brand with the most mentions on BF, because it is a place where consumers can purchase products from different brands, many of them from small brands.

    Responsible consumption 

    The trend is towards sustainable and conscious consumption. As a result, brands are encouraging their consumers to follow this conscious consumption and, instead of offering massive markdowns, are focusing on appreciating their most loyal customers. 

    The more discerning consumer group is more willing to invest in brands that strive for positive change, revolve around social causes and support small businesses, indicating a shift towards sustainable shopping.

    Growth in gaming

    Undoubtedly, the sector that is experiencing the greatest growth, and that at BF will be one of the most demanded, is gaming. Consumers have the opportunity to enhance their gaming experience with the most expensive devices (headsets, new consoles…).

    Given this consumer trend, brands have the opportunity to gamify this Black Friday around these products. Engagement through call to actions is key for brands’ target audiences.

    In addition to gaming, technology in general, beauty, fashion and entertainment dominate the Black Friday social conversation. Already in the 2020 campaign, 63% of mentions corresponded to these four industries: technology (26%), beauty (15%), entertainment (14%) and fashion (9%).

    The power of technology

    The pandemic has accelerated digitalization in such a way that new technologies have been implemented that improve people’s relationships, habits and lifestyles.

    For example, augmented reality is enhancing the reality of online shopping especially in fashion and home décor. High volume and growing participation of voice-enabled solutions with Alexa and Google Home will be experienced.

    In addition, AI (Artificial Intelligence) is helping stores learn about their shoppers, and personalize their online shopping experience, where big data plays an important role in creating personalized experiences for those customers.

    Anti-BF campaigns

    Covid-19 has changed the order of consumer preferences. Brands are aware of the continuous change and have taken advantage of the great communication milestone of Black Friday to join important movements that, in some way, go against the traditional BF. An example of this is the Blue Friday campaign where the Sea Shepherd brand encouraged consumers to buy sustainable holiday gifts.

    On the other hand, the general trend of consumers to consume less in the BF has generated a response from brands to advance their offers and keep them for longer, thus creating more opportunities for more conscious customers to avoid compulsive consumption.

    Video, the star format

    Videos in which influencers describe their favorite products resonate with a better audience and come across more naturally to users. The positive comments posted by users show the authenticity of the video and how influencers are received with more trust than brands. Part of the positive impact of video is triggered by the popularity of Tik Tok. Carousel formats also work well to get the message across quickly.

    Call to actions

    Calls to action along with BF promotion are well perceived by users. The best-received posts are those asking users to choose their favorite products or to comment or click on them. Also to click on the link in the bio to join a “close friends” list or a loyalty program to get exclusive offers.

    Memes

    Memes also attract a large majority of positive comments on BF posts. They are mostly used by small companies with a creative approach that keeps them active in these days of so much competition, although big beauty brands are also assiduous with them.

    Contests and gifts 

    Contests and giveaways are a must that works perfectly in this campaign. To get these gifts, brands ask users to tag their acquaintances, to like and follow the brand to win. It is a simple way to gain followers, engagement, to please and to make users aware of your products. In addition, for the influencers who are the voice of the sweepstakes, it is an opportunity to gain trust with their loyal followers, who are rewarded for their loyalty. 

    Influencers, the visible face of campaigns

    When e-commerce meets social networking, it is known as social shopping. This involves aspects of social media, such as groups, communities, recommendations and discussions, as well as the core function of e-commerce: selling products and services online. To help with all this, influencers are the best bet to achieve this.

    There has been a shift from “like” buttons to “buy” buttons, and platforms are making it easier for users to purchase through the platform. Influencers can speak intimately to their audiences, driving choices and sales directly to e-commerce.

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  • Top 10 key consumer trends in the automotive industry

    Date:

    Category: Tech & Entertainment

    The automotive industry has been one of the hardest hit by the pandemic. Not being able to go outside and working from home, vehicle purchases ceased to be a priority for many, leading to a decline in sales in 2020. A 14.6% recovery in the global light vehicle market is expected in 2021, with projections to return to 2019 levels by 2023*1.

    The car of the future is described as EASCY: Electric, autonomous, shared, connected and yearly updated, the five buzzwords in the automotive industry.

    Brands are taking advantage of the transformation of the automotive industry and are investing in influencers to promote their new vehicles, especially electric models. One example of this is Volkswagen, collaborating with influencer Chang Yan to test the performance of its electric vehicle.

    The 10 keywords of the automotive industry

    Electrification

    Electric cars are projected to see strong sales in the coming years. Their advantages include lower emissions than gas-powered vehicles, although electricity generation still involves fossil fuels; they have lower maintenance costs and tend to have fewer breakdowns; and they benefit from less intensive and more affordable maintenance.

    Autonomy

    The focus is on vehicles that can operate without human intervention, even in complex traffic situations.

    More than 33 million self-driving vehicles are predicted to be on the road by 2040, and about 55% of small businesses anticipate adopting autonomous driving technologies in their operations over the next two decades*2

    Shared mobility

    More and more users are shifting towards a model of “using” rather than “owning” a vehicle. There are two forms of shared mobility: carsharing, where vehicles can only be picked up at predefined locations and where the car is owned by a company, and ride-hailing, where customers request personalized trips online, usually via smartphone apps.

    Numerous social media profiles are basing their communication on vehicle-related content, from those covering current affairs to those sharing their collection of vehicles. The interest is there and creators are establishing themselves in this area.

    Connectivity

    There are two types of connectivity. Car2Car communication, where connectivity is maintained between different vehicles in order to share information related to traffic, accidents, road conditions, safety and other issues to ensure the safety of drivers; and Car2X connectivity, which refers to the synchronization between a vehicle and the infrastructure present on the roads (signs, cameras, radars, sensors or traffic lights) to improve road conditions and reduce risks.

    Innovation

    The implementation of the points above will lead to an increase in the pace of innovation in the automotive industry. As a result, 5 to 8 year model cycles could shift to annual updates in order to integrate the latest hardware and software developments. 

    Lack of information or even misinformation are two key aspects that hinder the switch to electric vehicles. Producing informative content to post on social networks can help convince potential buyers to take the plunge and secure purchases.

    Online Retail

    Buying vehicles online is a trend that could be established in the near future, with users buying a car online without having to set foot in a showroom. Forecasts suggest that this could happen by 2030.

    As a brand, having a presence on different platforms and adapting to each of them ensures a broader and more effective communication. To that end, creating entertaining and interactive content for Instagram, as well as informative videos on YouTube or conversational content on Twitter, can help you reach the right audiences in the right way.

    Cryptocurrencies and Blockchain

    Cryptocurrency as a means of paying for vehicles is a reality. Tesla accepting payments in Bitcoin has helped put the spotlight on cars and cryptocurrencies. Although this initiative was temporarily suspended due to environmental concerns two months after its announcement, interest is still very much present and it appears that car sales via Bitcoin will resume if a more sustainable scenario is achieved.

    Gaming

    Video games are spreading in the automotive industry through new proposals and gamification models, real games or game-like controllers in cars. Brands are seeing the opportunity to “transform” vehicles into real controllers, allowing users to use dashboard screens, steering wheels and pedals to play games inside their vehicles. Prime examples are Tesla with its Beach Buggy Racing 2 or Mercedes Benz with the famous SuperTuxKart game.

    Luxury

    Porsche, Bugatti and Ferrari are among the top brands with the highest interaction values in the broader industry conversation. Tesla also stands out in both the electric and luxury conversation.

    Although the United States has the largest share of the luxury car market, sales are expected to decline. On the other hand, it is expected that sales will increase in Europe and that the Asia-Pacific market will lead the sector due to the presence of numerous large-scale manufacturers in this region.

    Social Networks

    Tapping into the proactive conversation that users have generated around the automotive industry is crucial, and influencers can be of great help in achieving this. Collaborating with content creators could help communicate new products or services and achieve greater reach, spark conversation around the brand, drive traffic to the site and brand profiles, and reach wider audiences.

    *1. GlobalData
    *2. Builtin, Statista.

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  • Instagram Live Shopping Events

    Date: November 11, 2021

    Category: Social Media

    How does this new technology impact sales? Find out the five keys that brands should deploy for Black Friday and Xmas campaigns.

    It is a reality that social media is a storefront that companies can use to benefit and enhance their advertising campaigns. Instagram is perfectly aware of it and this is why they have improved its tool “Live shopping” now allowing direct sales of products through the app. How can brands be influenced by this improvement? 

    These are the top five benefits of including Instagram Live Shopping in your marketing strategy:

    Great boost for direct product sales

    Thanks to the inclusion of this type of technology to Instagram, there can be a heavy increase in direct product sales for this Christmas. Users will no longer have to remember which product their favorite influencer mentioned in the last live. With this new feature, users can buy the product instantly, without leaving the livestream.

    Exclusive products for exclusive users

    Instagram aims to get closer to its users and offer fun and differential live shopping tools. Therefore, it has launched a series of live shopping that, together with brands, will incorporate exclusive products and recommendations from influencers that will help maximize interest. Instagram lives are special because they have an immediacy that the rest of contents don’t have. Being able to buy exclusive products encourages the user to keep watching this type of content even more.

    Proven technology

    As a first approach, Instagram has created a series of additions that will take place during the months of November and December, which are the most important months in terms of sales. The content of its additions ranges from gift ideas to influencer collections. Due to the fact that this new addition is being tested, brands must be agile when implementing it to their strategies, since after December no one knows what may happen.

    Assured visibility

    It’s hard to make an estimation around the extra sales that Instagram Live Shopping will generate, because this will depend a lot on the brand and its strategy. However, it seems that Instagram is going to really support this channel and will encourage users to use it. In fact, during this first launch, Instagram will support brands to help maximize their sales by offering the users a 20% discount on their first purchase in the app, they will also offer free shipping on certain products.

    Ad hoc content

    With all of this, brands are going to be able to create specific content for this new functionality and add it into their marketing strategy, amplifying the message through the different streams of communication with the users.  In addition, it will help improve the engagement and sale of products.

     

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  • Big Data: Myths vs reality

    Date: November 10, 2021

    Category: Data & Metrics

    The phenomenon of big data (understood as the ability to generate, record, process, analyze and obtain intelligent information from a huge amount of data) is marking a before and after in many aspects of life and could be equivalent to the revolution that led to the development of the Internet. No business area or segment of our life is going to be left out of the reach of big data and its exploitation, for example, by artificial intelligence. There are not a few authorized voices that defend that the result of this pandemic would have been different if they had had better data to analyze.

    Let’s get an idea of ​​the dimension of what we are talking about. Already in 2012 – practically 10 years ago – the giant IBM stated that if all the bytes of data that we generate annually were saved on CDs and we piled them up, we would create a great round-trip tower from the Earth to the Moon. Since then, the increase has been exponential.

    And it is that cities are full of sensors that collect weather information, traffic, financial transactions, our footprint on the Internet, in social networks, in purchases, in the consumption of content, in how we travel, our health … We are the users and citizens anonymous, those who leave an impressive data trail, not only of what we do, but also of what we think and even how we feel.

    Data as a bargaining chip

    Data is the new bargaining chip. They are a new power. A few years ago, terrorist groups from the East discovered the location of American military bases in the area from access to data generated by the wearables of American soldiers… and yet we shared ours without thinking twice.

    We hate constantly entering our password so we “log in” to “unknown” pages using our RRSS with applications such as Facebook or Google. As consumers and individuals, our lives – our preferences, passions and prejudices – are encapsulated in many terabytes of data, in the cloud: from our purchase history on Amazon, through what we like on Facebook and Instagram, to our opinions on Twitter, who are our friends or family, what we Google and what we ask Alexa or Siri.

    To capitalize on this opportunity from brands and companies, it is necessary to understand what it is and what it is not and how we can apply it to our work. Next, we explore seven myths against as many realities around big data:

    Myth 1: EVERYONE USES IT

    The companies that are actually using their big data are very few. There are many top managers who are very interested in what it can offer, but when it comes down to it, they find it difficult to take the step towards a true digital transformation because of the ‘fear’ inherent to change. A strategic use of big data is not so widespread and, of course, much less in the field of communication and marketing.

    According to the report “Digital maturity in Spain. Data and Analytics ”of Indra’s subsidiary, Minsait, only 17% of the companies in our country had specialists in data analytics at the end of 2019.

    Myth 2: MORE DATA = BETTER DATA

    When people talk about it, the conversation is usually about the amount of data and how this amount grows. Size and speed seem the most important. Size is not really that relevant because, in fact, a very small percentage of all available data is actually being used today.

    The most important thing is quality. What makes big data really useful are the so-called 5 V’s:

    • Volume – How much do we have?
    • Variety – In what formats and with what variety of sources do we have the information?
    • Speed ​​- The speed at which is generated and added to existing data. Also, the speed at which we can analyze them, if it is in real-time, for example.
    • Veracity – The quality and veracity we have. The degree of trust.
    • Value – The value they bring us through their analysis.

    Myth 3: YOU NEED A LOT OF MONEY

    It is true that large corporations and governments are investing large budgets in hardware, software, storage and professionals with skills in these fields but, with each passing day, big data technology is getting cheaper and also increasing the number of software options that allows the analysis of that data. Increasingly, the use of big data is democratizing, allowing all players – from the largest to SMEs – to start developing their data-driven strategies.

    Myth 4: LEADERS SUCCEED WITH TOOLS AND TECHNOLOGY

    It is obvious that tools and technology are important, but it is not what success is based on. Success with big data is based, above all, on a company structure and culture based on data analysis. Being “data-driven” is more important than having a lot of it. Studies show that the more “data-driven” companies are considered, the better their performance and results. Being successful also requires fostering a culture of experimentation.

    Myth 5: THIS IS ABOUT IT PEOPLE, MATHEMATICS, ENGINEERS, ANALYSTS …

    Everyone wants to “build big data”, but very few people know how to structure this cycle. And, above all, the big question is what for? What do we want to know?

    Big data in itself is worthless. The question is not how much data we can have or analyze, but what we want to analyze it for, what we want to know, and therefore what kind of data we will need. And to adequately answer this, although it may surprise us, it is often necessary to have minds with a more “humanist” profile than a “science” one: philosophers, sociologists, linguists …

    The skills needed to use big data are only 50% technical or statistical. The other 50% are logical thinking: knowing how to formulate good hypotheses based on what we know and what we want to discover. The challenge does not lie with it, but with analytical thinking: the ability to recognize and solve problems using available information.

    Myth 6: BIG DATA IS THE NEW OIL

    Yes effectively. Despite the fact that the use of data to obtain information is nothing new at all. Like oil, it is useless in crude oil, it has to be refined and transformed into gasoline. Also big data is like a kilogram of flour or rice. They may have some value, but if we don’t know how to use them to make a recipe, they have no value because they are not edible.

    Myth 7: ALL DATA CAN BE ANALYZED

    There is a vast amount of data that cannot be tracked, measured, or analyzed. It is the so-called “dark social”: for example, all those visits to a website whose origin is unknown. Or all the occasions in which we share information via email or instant messaging such as WhatsApp, Snapchat or Messenger. This traffic is difficult to measure and essentially nearly invisible to most analytics programs. Several studies assure that the “dark social” supposes, at least, 50% of the traffic of any web.

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