Social Media · Uncategorized

iSpy Something You Wanna Buy

By Kate Lewis

Everyone has that one item they would die to own. Whether it be a car, a pair of shoes, or a picture-perfect house you only ever see in the movies.Unknown We spend hours searching for it on the internet, “pinning” it on our Pinterest page, and possibly even making the bold move and putting it into our shopping carts. However ultimately our self control overcomes us, and we cannot justify the action of pressing “Check Out.”

Not only do we watch as that item stays in our shopping carts, but for the few weeks following our search we see it on the side column of our Facebook page, in an advertisement on a different website, or even receive an email informing us that the item is still in fact in the cart (Like we didn’t know that already?) The internet knows exactly what we want and remembers it because marketers tailor web ads based on their customer’s behavior. This way they are able to know exactly who is interested in their product, and when they are eventually going to press the “check out” button.shopping-cart-abandonment-email-1_copy.png

This is the ultimate promise of behavioral targeting. 82% of internet users over the age 15 use social media, sharing their personal information and habits online. As defined in The Media of Mass Communication by John Vivian, behavioral targeting is using personal information and patterns in activities to match advertisements with potential customers. So all this personal internet trafficking can provide a lot of information. By using sophisticated set of software tools and analytics, algorithms are created that marketers use to their advantage. They can view what their consumers view, research, and exactly how close they come to making a purchase.

Three major components go in to the action of behavioral targeting; tracking and dataSalesDeck20_US_iceberg-e1438724443513-610x475 collection, segmenting a user based on their online behavior, and connecting this data so that advertisements that target this customer based on their interests will show. Behaviroal targeting is so successful because it gives real-time relevance to the consumer.

Marketers, who also carry the title of advertsisers, rely on ad networks to perform the bahvioral targeting. These networks are technology companies that partner with websites in order to access information about visor traffic. Through these websites, “cookies” are dropped on consumers hard drives that keep track of their activity. The websites are also able to collect visitors’ IP addresses. All this together creates a portfoli of a customer, which a company can review and use ot see their like interests and Web surfing habits. Ad Networks sell access to these portfolios to marketers/advertisers.

Behavioral targeting is a cost-effective way of turning browsers into customers.Market research firm eMarketer projected that spenidng on behavior targeting would double to $1 billion in 2008 and hit $3.8 billion by 2011.

Sources:

John Vivian

eMarketer

Social Media

Snapchat’s Rise To Success

By Kate Lewis

There are several social media platforms that dominate social media usage, or “audience share,” and Snapchat is certainly one of them. 158 million people use snapchat daily. That’s a lot of snaps. In fact, on average there are around 2.5 billion snaps sent per day.

Snapchat has gained quick success since first launching in 2011 by a group of students at Stanford University. Unlike originally text-based platforms such as Facebook or Twitter, Snapchat is a mobile application that is primarily based in sending image and video content. They can select a set amount of time between one and ten seconds for a recipient to view the content before it auto-deletes, disappearing for good. Snapchat has evolved into a very imgresinteresting, yet fun, social platform and people and organizations all over the world are beginning to incorporate it into their everyday lives.

Businesses are using the ghost-symboled application to promote themselves, giving the users of the social media app an opportunity for interactive engagement as well as creative content. Snapchat created a way for people to share photos freely and easily. Unlike Facebook or Instagram, these photos are not permanent and not out their on the Internet for the whole world to see.

Its freedom, its engaging products, and its “in the moment” sharing nature, has created a powerful new revenue and motivation for many to switch over to Snapchat as heir pre feed method of social media.

What led to Snapchat’s success? To begin, Snapchatsnapchat-survey-results-500x1024 realized that the key to its popularity was to target the millenniums. Over 71 percent of Snapchat uses are under the age of 35. Younger populations drive trends because they are more susceptible to adopt new platforms.According a project conducted by the Pew Research Center, as of September 2009 73% of online American teens ages 12 to 17 used an online social network website, and that statistic has continued to climb upwards.

Second, users can be selective when broadcasting their life. Disappearing messages and videos provide just enough information for users to share in that moment, a 24-hour moment in Snapchat terms.

Third, Snapchat is a mobile focus, and was specifically designed for mobile. Not many other social sites are the same.

Snapchat was able to target there audience, study that audience, and take advantage of growing trends in mass communication. Snapchat is a great example of a company who understands their audience, one 10-second video at a time.

Sources:

DMR

Marketing Land

Pew Research Center 

Social Media

Cash the Future of Mobile Payments

By Kate Lewis

We all have experienced that moment when you are walking up to the grocery store to do your weekly shopping, when all of a sudden you are attacked by the girls in green vests. Girl Scouts, more specifically Girl Scout Cookies, are hard to resist and the one reliable excuse to get out of buying them has always been, “I’m so sorry I don’t have any cash with me!” Easy way out, and most (some) of the time a valid reason.

But in today’s technological society that is not the case anymore.

IMG_ThePush_2014-0514_Girls.jpg“That’s ok! We take cards on the square!”

Square? Since when in the world do Girl Scouts have Square?

Digital-Payments technology is transforming our daily lives as it changes our contemporary financial system. Unlike cash or a credit card, a mobile phone can display all interactive payment details, and only requires the download of an app and a link to a bank account. As Paypal President David Marcus calls it, “Money 3.0.

passbookMobile payment systems are divided into many types such as SMS payment, NFC payment and payments via mobile app. They benefit both customers and businesses. For customers, conveniences and security are the two primary benefits.
For businesses, it costs a lot less to use a mobile card reader or barcode scanner than to have a credit card terminal from a bank, and encourages a lot more engagement with the customers as the purchase process becomes easier.

 

The following are some of the most popular mobile payment systems being used:

Square

Not just for Girl Scouts. Square allows merchants to accept mobile credit card payments via  plastic card swipe that can be inserted into the headphone jack.

Venmo

Venmo launched in 2013. Friends use Venmo to split payment on things, and it is becoming true that if you do not have Venmo to pay someone back, then getting cash from that person could be extremely inconvenient. People also do not just love the payment concept of Venmo, they like the fact that you can have a sneak peek at what transactions everyone else is making. Simply link up a debit card, find your friends, and there you have it. Venmo is currently known as the most convenient and easy-to-use option of the current mobile payment apps out there.

Google WalletMobile-Payment-Solutions-Evolution-750x410

Google Wallet allows people to send and receive money from any mobile device. It also allows the user to store their credit cards and other payment methods on their phone, all in one app.

Apple Pay

Apple Pay is a mobile payment and digital wallet application. It lets users make payments with any Apple product in just a touch. It is a safe, and private way to hold your wallet on your phone.

 

No other online channel is driving retail sales and referral traffic like social media. In the last few years, the merging of social media and payments has increased drastically, and will continue so long as our technology develops. We could one day see a financial system that is completely wiped away from the use of cash. Cash is expensive, and a lot harder to keep track of. Each year the U.S. Bureau of Engraving and Printing spends $660 million producing new dollar bills. Imagine what else could be done with that money if it weren’t spent printing $$$.

Choosing a payment method relies on one’s personal view of the security and convenience of the transaction method. However as digital-payments technology continues to develop, we may begin to see a financial system that shifts away from the cold hard cash and plastic system we have known for so long, and venture into the world of virtually-driven transactions.

Sources:

Bureau of Engraving and Printing

Business Insider

Buzzfeed

Forbes

Social Media Week

TIME/Money.com