For retailers, media is a full-contact sport. Fast and furious, most media agencies simply aren’t wired for it. Doesn’t retail move too fast and deal with too much direct and indirect omnichannel competitors to depend on bloated models or planning and buying by the numbers alone?
Too late. Yes, we’re talking about the social media train leaving the station. TV budgets are projected to grow 11% over the next four years. At the same time, social media budgets are projected to grow 65% (eMarketer, Business Insider). And 56% of senior-level marketers say that their investment in digital and social channels will exceed their investment in traditional media within one year (ThinkVine, April 2014).
My first computer was the TRS-80 Color Computer (or Trash-80 Coco) as we liked to call it. My next computer was the Commodore 64, and then the Tandy 1000. MS-Dos was an operating system that fit in either 12 or 28 Kbytes of memory. It was basically a file manager and a simple program loader. There was no GUI, no mouse and only one application program could run at a time.
The holiday retail season is upon us, and it is anticipated that the impact of digital will once again be positive and demonstrable on retailers’ “bottom line.” eMarketer is reporting in their Holiday Shopping Preview that digital sales will reach $72.41 billion dollars, an increase of 16.6% over 2013.
No, these aren’t technologically advanced Weebles, the delightful children’s egg-shaped, roly-poly toys of the 70s. Wearables are one of the hottest technologies this season and the market is expected to skyrocket.
After months of speculation and rumors, Twitter has introduced a “Buy” button option for users. Although the technology is only in beta, it begs the question: “Is the shift from content to commerce the right choice for a social media site?” Put another way, is Twitter shooting itself in the tweet?
Monday evening was one of the highlights of the year for a media guy like me as I watched the 66th Annual Emmy Awards. It was a celebration of what the industry does right: produce entertaining, engaging, highly-watchable content, whether it is consumed on TV, phone, tablet, game console, streaming service, over-the-top boxes or connected TV.
At last night’s VMAs… there were no salacious kisses a la Michael Jackson and Lisa Marie Presley (‘94) or Madonna and Britney Spears (‘03). There were no dresses made out of meat (Gaga ’10), or a Miley Cyrus twerking scandal (‘13).