Name: Dr. Mathew McDougall
Region: Asia and Australia
Job title: Founder and CEO of Digital Jungle
Experience: 20+ years working with Technology, Internet and Marketing firms around the world. Last 10 years worked as CEO based in China
One of the largest capitalist economies in the world, Australia is the world’s sixth-largest country by total area yet comes 51st in a list of countries by population. So how does marketing in Australia differ to the rest of the world, and what similarities, if any, does a country with less than 0.5% of the world population, have with China, which with almost 20% of the world’s population, tops the same list. Kathryn Cave talks to Dr. Mathew McDougall, Founder and CEO of Digital Jungle to find out more about Marketing in Australia.
What are the unique opportunities in targeting customers in Australia?
One of the unique opportunities in targeting B2B customers in Australia is that the market is relatively small, which leads to great referrals. Most of the major players in the industry know each other, which leads to great opportunities for clients. If you win a client and do an exceptional job, competitors and friends in the industry will notice, because it is easier to monitor a small market. If handled correctly this can lead to many new relationships, but of course, this goes both ways; if you win a client and do not deliver an exceptional product, others in the industry will also take notice.
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The Business of Helping Businesses
Want to start a business this year? If you’re looking for a great idea, look no further than your fellow entrepreneurs. New and established firms alike need outside help to run their day-to-day operations, and you could be the one to do it. Here are 14 business-to-business (B2B)startup ideas that we think will be successful in 2014.
Click here for the 14 B2B startup ideas
B2B marketing budgets are rising, but ad pages are declining. This ongoing shift away from traditional advertising creates an expertise gap that publishers should be looking to fill more aggressively with a broad set of marketing services.
Content, of course, lies at the center of this shift – which is good news for publishers. In Ad Age’s annual BtoB marketing outlook survey, 52.5% of marketers said theyplan to increase total marketing budgets in 2014, the first time since 2011 that more than half of B2B marketers expected to spend more than the prior year. Three-quarters said they planned to spend more on content marketing,
The findings are in line with other recent studies. A study by Econsultancy and Adobefound that content marketing was a top priority among 44% of B2B marketers, clearly outdistancing other digital marketing activities. Forrester, in a joint study with the Business Marketing Association, found that that 59% of B2B marketers plan to increase content marketing expenditures in 2014 and that B2B marketers overall expect to spend what analyst Laura Ramos called a “fairly sizable” 12% of budgets on content marketing in the year ahead.
“As buyers rebuff conventional outbound approaches like email and sales calls, marketers must capture their attention through inbound approaches that offer more enticing fare — like benchmarks, social interactions, videos, and games — instead of the conventional product pitch,” Ramos wrote.
When it comes to content marketing there isn’t much debate about whether or not it’s right for your brand. These days, just about every brand on Earth is using content marketing, whether B2C or B2B. But content marketing isn’t just another tool in a marketer’s bag of tricks.
“Content marketing has changed the way we talk about marketing,” says Matt Wurst, director of digital communities at 360i. “Instead of just speaking at, or to, or even about consumers, brands are leveraging digital and social platforms to communicate with consumers, to hear from them and facilitate more insightful, multi-directional conversations.”
As that conversation grows and becomes more important, Wurst says brands can look to a long list of metrics, like shares and endorsements, to track the success of a campaign or strategy. But there’s a difference between being data-fluent and data-obsessed. After all, the combination of content marketing and digital has given us a seemingly limitless supply of data points, but more than a few marketers have lost the forest through the trees.
“The collection and interpretation of data enables marketers to unlock the currency that motivates a potential consumer to pay attention, or an existing consumer to share a message and advocate for the brand,” says Wurst. “Without these insights, it is much more difficult to understand what is truly discoverable or sharable, which is the key to creating and optimizing quickly and efficiently.”
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IDG Research Services conducted a survey of a group of millennials (18-34 years old) who have an interest in technology— e.g. tech marketers, tech decision makers and consumers, in both the B2C and B2B space. The results basically show two perspectives: Data targeting is OK as long as the millennials save money or get relevant offers; and that data targeting and online privacy is a fact of online life but it makes them uneasy. This infographic also takes a look at/compares the 35+ audience and their thoughts on online privacy.
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Are media and marketing executives finally committing to innovation as a growth strategy? More than half of senior-level execs responding to Econsultancy and Jordan Edmiston’s 4thannual Media Growth Study (pdf) agree that their top-selling product in 2017 hasn’t been invented yet.
That’s a clear sign not just of the disruptions taking place in the media sector, but also the opportunities that exist for companies to create new markets or build new business models.
“We are focusing on disrupting ourselves, before we get disrupted,” one respondent from a large B2C publishing company said as part of the survey of 339 senior-level executives globally.
Despite this clarion call for innovation, however, most media companies have yet to formalize an innovation process. Only 31% of executives have a defined innovation program for generating new product ideas – even though 71% said launching new products or services would be a top growth driver over the next two years.
Other top growth drivers include expanding market share within existing markets (64%) and making an acquisition (38%). While just over a quarter of executives (27%) cited investing in new IP or technologies as a growth driver, the response rate jumped significantly from last year’s 11%. The report’s authors attribute this jump in part to a growing emphasis on automation, including programmatic buying and selling.