Sam Ramlu, managing director of Method.
What do you think will be dead in five years? (products, companies, trends etc.)
It’s quite confronting being forced to think five years in the future let alone what might not even be around in that time.
A quick glimpse into the future is both exciting and terrifying all at once. I think the biggest things that will suffer/improve will be physical items – some we take for granted yet take up a lot of valuable resource and energy to create.
Here’s my take on the top three things that will be dead in five years.
Hardware – PCs, consoles, tablets, phones, HMD as we know it will be gone. Rather, we’ll have dummy devices that stream content which will all be in the cloud and we’ll replace some of these devices with eyewear that does much the same.
Gaming is the latest to go the way of streaming with Google’s Stadia launching this year and Microsoft and Sony’s unique partnership for a competitive offering.
Cash or card? How about neither? Debit and credit cards have reduced the need for cash, so much so that many retailers are surprised at the offer of cash as payment. I think in five years they’ll be as good as gone with Apple Pay and digital wallets on the rise and payment through your phone, watch, and eventually, eyewear will be the new normal.
Receptions and customer service – I don’t mean good service will cease to exist but I think a lot of basic customer service will be replaced by AI and receptions (and front of house staff) will be a thing of the past.
Davied Bowes, CEO of Zavy.
What should you be measuring in social media?
There is no shortage of metrics in social media, but some measures are better than others.
Firstly, any social media metric that you’re measuring should closely link to overall business performance, meaning that if the metric is improved then your business will enjoy more sales and growth. Secondly, you need to have a competitive comparison. It may sound great that your measure has improved by 20 percent, but that doesn’t sound as good when your competitors have grown the same metric by 50 percent.
Zavy has identified that engagement is the key social media metric to measure and optimise. In a recent study of 2,500 businesses, we established that the deeper the level of engagement (e.g. a share, rather than a like), the deeper the correlation to business growth. A higher level of engagement with your business on social media is commonly achieved by capturing what is relevant to your audience and speaking to cultural moments, including key dates and events as well as contemporary issues such as single-use plastic bags.
On top of this, sentiment is important to track. Unlike traditional media channels that ‘broadcast’ their message top down, in social media brands grow from the bottom up, with people, across enormous amounts of interactions. Understanding this sentiment with a competitive context is essential.
Social media is often used to create presence and reach. But to win against your competitors you need to create more and deeper engagements with positive sentiment attached, and this requires metrics that go beyond the number of ‘Likes’
Julian Thompson, director of Mosh.
If Instagram was to remove its ‘Like’ counts, will it have an impact on influencer marketing?
Removing ‘Like’ counts shouldn’t have an impact. Marketers should already be looking deeper than just ‘Likes’.
If anything, it will force marketers to do better due diligence before engaging an influencer. To evaluate the value of a potential influencer, first look at who is engaging with the influencer, and try to establish if these people are the right audience for your brand.
If an influencer is ‘influencing’ the wrong people, it doesn’t matter how many of them there are, or how often they’re double-tapping. If you start with small influencer collaborations, and measure actual results like your own follower growth, leads, or sales using tracking URLs, then high level metrics such as ‘Likes’ don’t really matter.
Once you’ve got evidence that the partnership is delivering value you can easily scale it up. If it isn’t, you can move on without having invested much. If anything, removing ‘Likes’ is a good thing. Marketers will need to consider a variety of metrics when engaging an influencer, as well as trying out a variety of methods to see what works. It’s up to the influencer to present their case, and for the marketer to test out their street cred!