Happy new year! Welcome to SOMO SAYS — our new BLOG/VLOG that will examine trends occurring in social mobile and digital media, and of course keeping followers updated on what SOMO is working on. So let’s do it to it!
Scott Galloway and Maureen Mullen run through their top predictions for digital, mobile and social in ’17. Our takeaways? Amazon is poised to potentially be the first company valued @ one trillion dollar$ (“How many zeroes in a trillion, Alexa?”) and dominating online ecommerce further with a move into private label, super sizing their AI umbrella and beta testing Amazon Go — a 21st century reimagining of the simple grocery store. As well, consumer habits ascending include searching and shopping by category and less by brand, except where brand matters. Where does brand matter? In luxury products. But how to compete? Strong content, often and diverse, and strong search optimization. Over social it also means two words: Facebook and Instagram. Content remains the critical king and the queen definitely wants her Fendi and Hermes. In short, the most potent content will deliver the KO punch.
Instagram is becoming the dominant force in social — labelled the most powerful social platform in the world garnering 92pc engagement. And this year it will become a significant channel for businesses, possibly taking the lead from Facebook. Organic reach is on the decline and businesses need a strategy for Instagram, pronto. So what does that mean for content over social and digital channels? Your brand needs to be on Instagram, period. You also need distinctive videos and visuals with a decisive, authentic voice. Short-form video still gets the most engagement and influences conversations and sales conversions when compared to the old stalwart — still imagery. Stats show it’s also as effective as TV adverts and less expensive. A win/win.
#scottgalloway, Professor of Marketing @ NYU Stern School of Business, and Co-Founder of L2, a membership driven, marketing data and insights share index (along w/ Maureen Mullen, Chief Strategy Officer and Co-Founder @ L2.) #itsasomo