Marketing, Tech, and Data News for [B]RIGHT Marketers

MARCH 2021 Edition

At [B]RIGHT, we illuminate data-informed digital solutions to help your brand succeed in an increasingly complex marketing landscape. Which means we help brands grow based on data, and research, and a hefty dose of proven processes, tactics, and channel-specific strategies.

We take the guesswork out of your marketing strategy.

The Stories You Have to Read:

  • Biden Admin Appoints New Anti-Trust Czar
  • Design Leadership, Per McKinsey’s Model
  • Consumer Habit Changes, Pandemic Edition
  • Jack Dorsey Sells First Tweet on Twitter as NFT for $2.9 MM
  • FCC Crowdsources Broadband Connectivity
  • Where Are Ecom Apps Going In 2021?
  • WFH and Work Relationships
  • Microsoft Buying Discord

Biden Admin Appoints New Anti-Trust Czar

Lina Khan, an outspoken critic of Big Tech's unchecked power has been appointed to Chairwoman of the FTC.

Only a couple months into Biden’s presidency and he is taking actions that are signaling tougher rules for Big Tech and Silicon Valleys’ considerable overgrowth. Lina Khan has been confirmed by the white house to be Biden’s nominated Federal Trade Commission Chairwoman; awaiting Senate confirmation before taking office.

If you don’t already know, Lina Khan has been an outspoken critic of the unchecked power that Big Tech holds. She is seen by many as the face of the antitrust movement and she advocates the position that current antitrust laws do not adequately define what qualifies as monopolistic behavior and do not reflect or consider how the modern tech sector and modern businesses, in large, now operate. Her proposed solution will require the analysis of individual dynamic markets, their underlying structures, the competitive process unique to each market, and then examining how a company’s business model may play a powerful structural role in a market while also creating anticompetitive conflicts of interest.

What does all of this mean for your brand and how you reach consumers? Simply put, Change brings opportunity … While some marketers and brands can be seen scrambling to shift their audience and channel strategies; some will rise to the occasion and find new communication and marketing niche’s to explore.

We prefer to think on the [B]RIGHT side, and if there’s new regulation (which we think is needed) the floodgates will be opened to new competitors in the tech industry, and with it will come opportunities for brands to become early adopters and identify white/blank spaces for brands to fill.

So, with change comes opportunity, and a small bump of turbulence. We think it is a step in the right direction and will foster competitive markets, innovation, and potentially strengthen our economy.

Design Leadership, Per McKinsey’s Model

A well-designed metric framework for measuring performance can lead to consistent, measurable, and scalable growth outcomes for companies.

Design leaders, or individuals in charge of strategy and the trajectory of companies, have an important duty to get the metrics right, to accurately inform and position companies for growth.

The larger framework by which designers organize their design- metric systems focuses on three areas; Dream, Detail, and Drive. Dream is encompassing what McKinsey is calling North Star metrics, the user experience, financial, or operational metrics that will drive your strategy. Detail, pertains to the holistic metric system that measures performance along customer journeys; this being a mix of qualitative and quantitative feedback. Then finally ‘drive’ is the process put into place to incentivize actions and the reporting and tracking of the inputs that influence the detail metrics and then ladder up to the ultimate North Star metric outcomes.

There are many nuances to each of the three areas that McKinsey elaborates on in more depth; but the premise is that a well-designed metric framework for measuring performance can lead to consistent, measurable, and scalable growth outcomes for companies.

Broken and cracked makeup palletes
Shopify start your business page open on smartphone that is on desk

Consumer Habit Changes, Pandemic Edition

Changing consumer habits as a result of Covid-19, cannot be ignored, they have a real impact on businesses' bottom line.

The impacts of Covid-19 cannot be ignored, consumer behavior and how they shop is no exception. WFH habits have disrupted our routines, preferences, and our aspirations. Each of which can be seen in national increases in entrepreneurship, consumers prioritizing purchases from small local business, and declining fashion and makeup sales.

  • Consumers continue to favor contactless transactions with 46% of consumers continuing to opt for online shopping.
  • Many Americans continue working remotely and preferring comfortable clothing as dress sales have dropped 152% and pants sales are down 67%.
  • Skincare has increased as one form of self-care, moisturizer sales are up 43% and makeup sales (foundations, primers, and concealers) are down 17%.
  • Indications of small business growth can be seen in Shopify’s 2020 growth of 79%, the largest growth in their history, which has moved the industry forward, ahead of schedule, by at least a decade.

Marketers know that consumer behaviors help in determining the demand for a product/service, and help inform precise messaging that establish relevance with your current and desired audience. That is why changing consumer habits, as a result of Covid-19 cannot be ignored. These changes can have a real impact on the bottom line if continuing the same messaging and activation strategies without considering if they are still relevant to your audience today. What if you need more niche audience insights to reconfigure your strategy?

Consumer surveys, focus groups, syndicated data, and deep dives into existing primary data can uncover pivotal insights to help add clarity and precision to your go-to market strategy.

Jack Dorsey Sells First Tweet on Twitter as NFT for $2.9 MM

Will the adoption of NFTs change how digital artists sell their artwork; a shift for artists to make a sustainable living outside of royalties?

Jack Dorsey, CEO of Twitter auctions off his first tweet posted on the platform, some 15 years ago, for $3 million as an NFT sold on Valuables online auction. The NFT, or non-fungible token, is bringing about a pivoting point in the art industry; where digital assets are being assigned permanently linked crypto-authentication tokens using block chain technology. Simply put, these digital tokens are collectors’ pieces that are unique and non-duplicative just like an original art piece.

What changes could come from the adaptation of NFT’s for selling digital assets? Will this change how digital artists choose to sell their artwork; a shift for artists to make a sustainable living outside of royalties? Is it possible that NFTs will be adapted to the music industry; an industry heavily reliant on subscription services and royalty payouts to artists? There are so many questions surrounding the viability and sustainability of this new market disruption, and for once, we don’t have ANY of the answers. We’ll continue to watch and learn.

FCC Crowdsources Broadband Connectivity

Potential for new consumers coming online as FCC diagnoses internet availability gaps in reporting by ISPs.

The Federal Communications Commission (FCC) is asking average Americans to self-report the internet service providers (ISP) actually available to them in their location. This type of reporting breaks from the historical process of having ISPs reporting their coverage areas to the FCC; inherently creating an inaccurate national coverage map as ISPs have the incentive to overreport their coverage as a means to limit attraction of competing ISPs to their coverage areas.

Although the first iteration of the form the FCC is using appears to be rather rudimentary, it is undoubtedly a step in the right direction to correctly diagnose the broadband limitations across the nation. This could mean there is potential for new online consumers in the coming years. Often, rural communities have been underserved by both internet broadband and the availability of reliable internet connectivity. Could this possibly be the last stake in the heart of cable programming as even more individuals can opt for streaming services as their bandwidth may handle it now?

Could this possibly be the last stake in the heart of cable programming as even more individuals can opt for streaming services as their bandwidth may handle it now?

Where Are Ecom Apps Going In 2021?

Despite increasing consolidation and acquisitions in the martech sector, app offerings more than tripled between 2015 and 2021.

As marketers and ecommerce brands are aware; there are thousands of apps available in the e-commerce and marketing automation ecosystems. The martech stack of tools grew from 1,800 to 8,000 between 2015 and 2021; the offerings more than tripled, despite increasing consolidation and acquisitions in the sector. Much of the growth can be traced to Saas and e-commerce subsets. Continued growth of martech may bring new innovation and change.

With so many tools at your disposal, how do you select the right applications to operate your brand? If you are an ecommerce brand selling DTC, or a B2B brand needing a digital presence to facilitate prospecting; each has its own needs and tech stack that can best address those needs. At [B]RIGHT we selected our tech stack by considering native integrations, and automations, as primary decision-factors. We eliminate redundant, and remedial, tasks with these native automations, opening up time for more important work.

The ideal situation can be a martech stack that allows for seamless sharing of primary data between website, CRM, and advertising channels. Choose carefully for best results, but don’t be stopped by decision paralysis. Many web-based applications offer month-to-month payment options. So, trial several platforms until finding one that best integrates with your current techstack and makes your efforts more efficient and effective.

WFH and Work Relationships

Work place social interactions responsible for innovation and unplanned knowledge transfers have declined since the onset of WFH norms. How can the side effects be combatted?

A year into working from home has revealed the importance of social capital, the informal interactions that happen between co-workers in the workplace. A study by Microsoft tracked the shift from group chats, at the beginning of quarantine, shrinking in usage and a resulting 87% increase in one-on-one chats. Microsoft’s analyzed productivity signals tracked from its product; like emails, teams’ meetings, chats, and posts; among 50 other related studies. The side effect? A decrease in social interactions and happy accidental conversations; those that are directly responsible for innovation and extemporaneous knowledge transfers.

How can these side effects be combatted while continuing remote or hybrid work situations? It is important to invite collaborators from various departments to meetings to avoid groupthink and siloed departmental thinking. Allow time and space for social capital to thrive by balancing employee workloads and providing opportunities, and incentives, for fostering workplace relationships.

Be intentional with meeting agendas. Moderate meetings to provide remote workers ample opportunities to contribute. Allow time for unplanned moments of connection and fun. These interactions may be perceived by some as non-productive, but can be crucial to workplace culture and maintaining a workforce that is energized, innovative, and engaged.

Microsoft Buying Discord

Discord functionalities could be incorporated into future Microsoft offerings if acquired.

Microsoft is in the last phases of acquiring Discord for a reported $10 billion USD. Discord serves as a communications hub for gamers, publishers, official news, and utilized as a message board for stock market groups because of its flexible public or private usage.

Discord is a useful niche marketing tool for anyone or brands looking to build a community. The platform combines personalization, promotion, and varying communication methods to reach customers more effectively. Users of the platform tend to be young adults or teens, opposed to older demographics.

Discord has functionalities in clear competition with Microsoft’s Skype and houses games and features that are likely to be incorporated into future Microsoft offerings.

We found these articles insightful and helpful while we continue to navigate the changing marketing landscape. Thanks for reading!

Seth Slone | Digital PM

At [B]RIGHT we take the guesswork out of your marketing strategy. So you can run your business with greater clarity and confidence, give us a call.