The Digital Strategy Innovation Summit was held this past Thursday and Friday at The Plaza in New York City. It was wonderful to be able to hear stories from companies like ESPN, Hasbro, Sephora, and Bloomberg and how they are excelling in today‘s digital world by constantly investing and innovating. Overall, the trends we have seen at Brandlogic were validated: if you don‘t have a mobile or social media strategy, you‘re late to the party and leaving potential revenue on the table.
Live Nation has built a large business around curating social media content. Their mission is to bring fans and bands closer together. Concerts by their very nature are a social experience, and they drive sharing:
- 3 out of 4 people capture photos or videos at concerts
- 60% of people share them after the concert
They use geofencing technology to capture this content around the venue a concert was held, filter automatically to remove irrelevant and offensive material, then bring it all together to match the look and feel of Live Nation‘s brand. Without mobile devices and social sharing this level of integration simply wouldn‘t be possible.
The mobile web and mobile apps are vital to tapping into new markets that have already been defined, yet growth in that market is still accelerating. The numbers don't lie:
- ESPN saw a 57% increase in TV viewership from 2010-2012, but saw a 534% increase in digital consumption over the same time period.
- 41% of all traffic to ESPN digital properties is from mobile as of January 2013
- 2.1 million fans have signed up to receive 2.1 billion sports alerts for mobile
Mobile is enabling easier sharing capabilities. Nowadays phones have built-in sharing capabilities across various social media sites, as well as a plethora of apps to support them. Smartphones also tend to have more of a tech savvy audience, who are also willing to spend more.
- Bloomberg noticed that traffic from social media tends to spend 3.4x longer on their sites.
- PBS has noticed that social media traffic directly propels TV viewership. Twitter has even joined forces with Nielsen recently to track it.
- Sephora has found that Facebook is the 5th largest driver to their site, and they have grown to 5 million fans.
- Sephora also launched an iPhone Passbook app on the first day it was available, and has been rewarded with tremendous sales. The app was downloaded 1.3 million times in the first 100 days, and they found that people with the app purchase and spend 2x more than others.
Brandlogic has been helping companies such as CFA Institute and TruBridge enter the mobile and social media landscape. The industry that is being built around it is brand new and ripe with innovation. How are you capturing this market?blog comments powered by Disqus