The Government's newly released National Innovation and Science Agenda shows that for economic growth to continue within Australia, an 'innovation ecosystem' must be fostered, where new businesses with new ideas are encouraged to grow and flourish. With every company wanting to increase, retain or improve their customers’ experiences, this makes marketing vital to fuelling Australia's ideas boom.
Social media’s revenue per visitor (RPV) value has leapt in the past year, with Twitter recording a whopping 300 per cent year-on-year increase.
Adobe’s first annual Social Intelligence Media Report, which looks into paid, earned and owned social media trends, found Twitter leading the pack when it comes to social media marketing value growth, reporting a 300 per cent RPV increase to $0.44 between September 2012 and September 2013.
Pinterest’s RPV was also up by 150 per cent over the same period, bringing the social sharing site’s value up to a higher $0.55, while Facebook trailed in third with 39 per cent year-on-year growth, but with the higher RPV of $0.93. In terms of attribution models, first-click RPV for social was 116 per cent higher than last click.
According to the report, Facebook is becoming increasingly attractive to brand marketers with ad click volume up by 29 per cent in the past year, and cost per thousand impressions rising by 120 per cent. The figures also showed click-through rates (CTR) increased 275 per cent over the same period and ROI by 58 per cent.
When it comes to what’s driving social engagement, likes produced 87 per cent of all activity, but comments and shares are outpacing likes year-on-year.
Brand posts on social channels rose by 9 per cent in the last 12 months, with each averaging 945 likes, 88 shares and 58 comments.
The Adobe report also looked into the share of social referred visits, and found that while Facebook continues to dominate, its percentage of visits dropped 20 per cent over the past year to 57 per cent. In contrast, Twitter’s share grew 258 per cent year-on-year, while Pinterest is up 84 per cent.
Overall, social engagement was up 115 per cent between August 2012 and August 2013, the report stated, with images and videos producing the highest consumer engagement rates.
“Social media is rapidly maturing as a marketing channel, bolstered by the steps Facebook and Twitter have taken to make their audiences more accessible to marketers,” Adobe Digital Index principal analyst, Tamara Gaffney, said.
“Recognising the opportunity, marketers are optimising their campaigns for social channels, and as a result consumers are now using social media much more in their purchasing process.”
Another trend on the rise is geo-targeting. Adobe found geo-targeted posts grew by 67 per cent in the past year, and recorded slightly higher engagement rates (3.4 times versus 3 times).
The Social Intelligence Report is based on aggregated and anonymous data across retail, media, entertainment and travel websites over the past 12 months and represents 131 billion Facebook ad impressions, 400 million unique visitors to social networking sites, more than 1 billion Facebook posts, and 4.3 billion social engagements on Facebook. The paid social data component was based on customer data out of Adobe’s Marketing Cloud.