Guest Post By: Adam Courtney, Internet Marketing Intern
We have been fortunate enough at Vertical Measures to have had the opportunity to conduct Expert Interviews with leaders in the internet marketing industry. At the beginning of the year, we asked many of these leaders what their predictions were for the industry in 2010. Now that we are wrapping up the year in just about a week, it is time to determine who truly holds the crystal ball of internet marketing. The following are a few predictions and our analysis of whether or not they were correct for 2010.
Fred Von Graf, managing partner of Social Media AZ.
Prediction: “There is going to be a mobile blowout. It’s the year of the Droid as far as I’m concerned.”
Consensus for 2010: Correct. Android Market Share has jumped from 3.5% during the 3rd quarter of 2009 to 25.5% in the 3rd quarter of 2010. During the same period, smartphone sales increased an amazing 96% as well.
Prediction: “We are going to see much more women-based targeting in social media.”
Consensus: According to an article by Forbes, Facebook and other top social media sites are dominated by female users. Also, in a survey done by the e-commerce software firm ATG, twice as many women as men said they frequently share purchasing activities on Facebook, MySpace and Twitter. Comscore recently published a report with similar information including facts that women spend more time online than men, and that they also make more online purchases then men. Based off this information, there is little doubt that companies are increasing their female-based targeting.
David Wallace, CEO of SearchRank
Prediction: “Google is still going to have 70-80% market share, Bing will continue to grow. Local search will also continue to grow.”
Consensus for 2010: Correct. While Google market share has dropped a bit in the last year, it still is currently at about 70%. However, Bing is currently the fastest growing search engine, now owning about 10% of market share.
David is also correct about local search. According to (Curtis) R. Curtis, CEO of Sharksfly Marketing Inc, 75% of all business online searches are locally related and that number is growing.
Jeramie McPeek, Vice President of Interactive Services for the Phoenix Suns.
Prediction: “I think it’s almost going to become commonplace where almost every athlete has their own Twitter account and has their own Facebook page…more and more athletes are going to become almost their own reporters.”
Consensus for 2010: Mostly Correct. While not every professional athlete has embraced Twitter and Facebook, there’s no doubt that social media is playing a bigger role in sports today. From news about player trades to the firing of coaches, a whole new sports media outlet has been developed from social media. Instead of holding traditional radio and television press conferences, more and more professional athletes and coaches are choosing to utilize social media instead.
Jeff Walters is the co-founder of two leading marketing companies, Targetbase and Clicksquared. He is also an investor, catalyst and consultant at Strategy Outfitters, a company known for building brands through business analysis, marketing strategy, and marketing technologies.
Prediction: Businesses will focus more on ROI and how to measure it.
Consensus: Correct. Social media is still extremely new. Facebook is only 6 years old; Twitter is 4 years old. Many businesses have only just started to utilize these and other social media outlets as marketing tools. As explained in a very informative article on Mashable, many of these businesses are still launching social media campaigns with an experimental outlook. However, more and more executives are demanding that ROI and metrics be determined for their companies’ social media campaigns. Many of these campaigns have been introduced without an integrated strategy, leading to frustrations about how beneficial they really are. A study from Bazaarvoice and the CMO Club found that nearly three out of four CMOs (72%) who did not attach revenue assumptions to social media in 2009 say that they would in 2010; in addition, 64% of CMOs say they plan to invest more in social media in the next year.
Prediction: “Businesses will continue to shift towards digital spending.”
Consensus: Correct. Not surprisingly, businesses are continuing to shift more money towards digital spending. According to Forbes, digital spending increased 10% in 2010 to 32.5%, putting it above spending for print advertising at 30.3%.
Greg Head, founder and CEO of New Avenue, a strategic marketing firm
Prediction: “This next year is really the year that small businesses really start to get social media integrated into their businesses and start to deliver richer content.”
Consensus for 2010: Correct. A study by the marketing advisor Constant Contact found that “small businesses reported an increased use of social media tools, viewing these tools as additive and complementary to other marketing activities.” In addition, 63% cited Facebook and 30.7% cited Twitter as important tools for marketing, up from 50.5% and 25.6%, respectively.
Overall we believe our industry experts did an excellent job of predicting digital trends for 2010. What are your thoughts about 2010? Do you agree with these industry experts or was there anything else that they missed for 2010?