Harvard Business Journal’s Power of 1% in Digital Transformation

Many organizations are moving to adopt digital technologies, but the speed of adoption is ever increasing and most organizations need to move at a faster pace to avoid competitive disadvantage.
A new approach is needed where companies commit to an ongoing investment of one percent of revenue for digital transformation . It’s an intentional, proactive, radically applied investment that views the investment from the top down as opportunistic, rather than as a sum of locally isolated budget initiatives.
Below are three key steps to drive the results from the power of a one percent investment in digital transformation:
Planting the Seeds
  • Laying a digital foundation requires the acquisition of commerce technologies and their integration to core applications to establish the right foundation, and be in a position to move information across a company’s expanded ecosystem with speed. ERP, CRM and business intelligence (BI) applications will play core roles in the ecosystem along with other adjacent technologies.
  • The focus must be on the reinvention of core processes that are digitally enabled across these core systems. This becomes the foundation upon which all other technologies will be launched.
Compelling Product Content
  • Research shows 60-90 percent of buyers start their product search online, and search engines further dictate that this content must be differentiating for optimal SEO.
  • Content now goes well beyond product-only information and must incorporate social content such as ratings and reviews, questions and answers, access to product experts, etc. For organizations with large SKU counts, it is imperative that the program to acquire content be phased and multi-faceted so as to not inhibit the speed of digital deployments.
Strategic Marketing
  • Investing in marketing is the third mandatory key component. In Phase I, the balance of the investment not spent on technology and content primarily should be allocated to marketing and digital resource development. In subsequent phases, technology and content investments may be reduced but investments in marketing will likely rise.
  • Along with typical digital marketing investments, don’t overlook marketing and operational programs required to drive adoption. Continuous improvements must be intentionally sought out to achieve results that align with the goals driving the metric based returns established by an organization. Planning ahead to rapidly overcome objections to internal and external adoption as they arise will help companies gain momentum and drive success.
Digital transformation is a huge undertaking for any business, but the Power of One Percent is designed to make that process a little less daunting by taking a fundamentally different approach to how a company invests for the future. It’s shifting away from what is the least expensive or easiest digital decisions to make to what are the best digital investments for customer-centric operations, and a shift from annual plans to agile plans, with a focus on speed. The Power of One Percent is the fuel to drive toward an agile, operational, and goal-oriented model that accepts a higher level of risk to generate a higher level of return.
Branding in the Age of Social Media
In the era of Facebook and YouTube, brand building has become a vexing challenge. This is not how things were supposed to turn out. A decade ago most companies were heralding the arrival of a new golden age of branding. They hired creative agencies and armies of technologists to insert brands throughout the digital universe. Viral, buzz, memes, stickiness, and form factor became the lingua franca of branding. But despite all the hoopla, such efforts have had very little payoff.
As a central feature of their digital strategy, companies made huge bets on what is often called branded content. The thinking went like this: Social media would allow your company to leapfrog traditional media and forge relationships directly with customers. If you told them great stories and connected with them in real time, your brand would become a hub for a community of consumers. Businesses have invested billions pursuing this vision. Yet few brands have generated meaningful consumer interest online. In fact, social media seems to have made brands less significant. What has gone wrong?
To solve this puzzle, we need to remember that brands succeed when they break through in culture. And branding is a set of techniques designed to generate cultural relevance. Digital technologies have not only created potent new social networks but also dramatically altered how culture works. Digital crowds now serve as very effective and prolific innovators of culture—a phenomenon I call crowdculture.
Crowdculture changes the rules of branding—which techniques work and which do not. If we understand crowdculture, then, we can figure out why branded-content strategies have fallen flat—and what alternative branding methods are empowered by social media.
source: websitemagazine.com/m/blog/post/48933?name=the-power-of-1-in-digital-transformation&App=posts&y=2015&m=11&d=20&PostName=the-power-of-1-in-digital-transformation

Influencer Marketing: How to Find the Perfect Fit

Influencer Marketing: How to Find the Perfect Fit
October 16, 2017 by Louise Myers Leave a Comment

Considering influencer marketing?
Wondering how to make it work for your business?
This infographic has your answers!
Influencer marketing is nothing new. Consider Air Jordans or any other…

Link: Influencer Marketing: How to Find the Perfect Fit
via louisem.com

Influencer marketing can drive decisions or it can create context

It’s October 16th, 2017 and I’ve fallen deep into a blogging hole. After ten years of creating tons of opportunities by blogging – I have not excuse not to write up a quick post about the things on my mind more or less every day. So I’m going to do that for the next 30 days, through the middle of November. We’ll see how that feels.

Link: Influencer marketing can drive decisions or it can create context
via marshallk.com

Tools and Technical Tips for Optimizing your Content Marketing Results

There’s no better way to drive massive traffic to your website than consistently creating amazing content. Marketers know this, brands know this, and that’s exactly why the competition for first page search engine rankings is now fiercer than ever before. Everybody is producing content to gain targeted traffic and get their brand known!

Link: Tools and Technical Tips for Optimizing your Content Marketing Results
via www.razorsocial.com

45 Content Marketing Best Practices That Are Actually Myths

Even though content marketing isn’t exactly new anymore, there are still a lot of misconceptions surrounding the best practices for this industry and just exactly what content marketing is. I want to take each of these content marketing myths on and bust them. Everything from the fact that content marketing is only about blogging to whether or not it’s too expensive to examining whether or not video is too costly to produce a return on investment.

Link: 45 Content Marketing Best Practices That Are Actually Myths
via neilpatel.com

Social media monitor Brandwatch acquires content marketing platform BuzzSumo

Brandwatch, a social media monitoring company has acquired BuzzSumo, a content marketing and influencer identification platform, for an undisclosed sum. BuzzSumo never raised beyond Seed stage and was in effect bootstrapped by its founders. The acquisition adds an important arrow into Brandwatch’s quiver, which raised a $33M C-round war chest in 2015 for just such a move.

Link: Social media monitor Brandwatch acquires content marketing platform BuzzSumo
via techcrunch.com

8 Genius Examples of Empathetic Content Marketing in Action

Successful content marketing is about creating a connection between your audience and your brand.
This doesn’t mean just throwing content at your audience. It means truly valued creating content — content that serves needs and addresses the biggest pain points. And this type of content is much…

Link: 8 Genius Examples of Empathetic Content Marketing in Action
via blog.hubspot.com

Mastering Real-Time Content Curation with Twitter with Ross Quintana

#TwitterSmarter Chat Recap: 9-28-17
Here’s a recap of our fave tweets from this week’s informative and insightful chat. We’d love to hear from you! Please feel free to comment below and share your two cents on these questions.

Did you miss today’s #TwitterSmarter “after” chat livestream with…

Link: Mastering Real-Time Content Curation with Twitter with Ross Quintana
via www.madalynsklar.com

Artificial Intelligence Gets Introduced to Influencer Marketing

Influencer Outreach. IZEA just announced the inclusion of artificial intelligence (AI) in its influencer platform. Called ContentMine, this feature helps marketers find, organize and share content produced by influencers through the IZEA platform more easily. This AI feature uses a visual search interface to discover content assets that reside on the influencer marketing platform.

Link: Artificial Intelligence Gets Introduced to Influencer Marketing
via relevance.com

Micro Influencer: A comprehensive Guide to Micro-Influencer Marketing

Micro-influencers have 22.2 times more conversations weekly about recommendations on what to buy when compared to an average consumer Influencers in the 10k-100k follower range offer the best combination of engagement and broad reach 59 percent of micro-influencers believe Instagram to be the most effective social media platform for engaging their target audience 53 percent of micro-influencers have never paid to promote a post 84 percent of micro-influencers charge less than $250 per Instagram post 97 percent charge less than $500 per post 72 percent of consumers will take some action after reading a positive review from 86 percent of marketers are now practicing influencer marketing in some form 48 percent Marketers plan to increase their influencer marketing budget 92 percent of consumers trust recommendations from friends, family, and influencers 26 percent of desktop and 15 percent of mobile users use ad-blockers.

Link: Micro Influencer: A comprehensive Guide to Micro-Influencer Marketing
via starngage.com