Research from BloomReach puts the bounce rate (the percentage of viewers that leave a website without making a purchase) after a non-branded paid click at 55%. Over half the time a click on a paid ad goes through it fails to produce a conversion. Other studies put the bounce rate anywhere from 10% to 90%.
Raj De Datta, who runs BloomReach, has a recommendation for this abysmal failure of the main (across all channels only 2.5% of a site’s visitors convert) way the social media agency does paid advertising. De Datta suggests big data is the saving grace for the social media agency. Big data, which is able to see where customers are also looking and what the demographic and past search histories have been, is able to measure exactly what the customer is looking for. The context surrounding what the customer wants is better predicted by the digital marketer.
Big data can navigate the twin polls of scale, the number of people being brought in by an ad, and profitability, which focuses on making a sale to each customer. There are an increasing number of big data apps that can offer instantaneous results about what each customer is looking for. Ideally, the ad would be creative and draw in as many people as possible and then landing page would then, via the big data app, be tailored to that unique visitor matching what that customer wants.
The main problem with the big data apps is their cost. Because most of the content on the internet is still about two years old, access to the data and mining it is still nascent and difficult. This puts successful big data apps well within the purviews of large brands. But as more time passes and the as the social media agency focuses more and more on the data that economy of scale is slipping. De Datta argues for pursuing these apps and helping to drive down the costs. Until then even the small firm can act like a big data purveyor by testing with ads and testing with landing pages narrowing to smaller and smaller distinctions among a websites users. It’s labor intensive, but the only way to combat the 55% bounce rate that plagues digital advertising.
Google Will Launch a Commenting System
Wednesday, April 4th, 2012The FaceBook commenting system is found on millions of websites. Google has decided that it does not want to miss out on the action and is launching its own service. It will be just like the FaceBook version, where third party sites host it and the comments then track back into Google’s network. It’s the deeper integration that makes it possibly better than FaceBook’s system.
Google will be able to combine its already large data pool with what people are saying on third party sites. Once Google also finishes its semantic data engine, then measuring what people say will be immediately testable against what they also buy and where they go online. The commenting system will also have some serious implications on Google’s search business.
The social media agency will be able to have a much more comprehensive understanding of their potential customers once this system goes into place. It might also be helpful to begin testing products and brands on different platforms so the commenting system will immediately begin accessing that information.
Google Battles Facebook
Tags: commenting, Digital Marketing, Facebook, google, social media
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