5W Public Relations | February 28, 2022
5WPR Co-President Dara Busch presents thoughts on the latest trends in influencer marketing.
With the help of mediums like social media, digital marketing has greatly evolved in the last few years. Nevertheless, the world is still at the early stages of developing digital marketing because its true potential has not yet been reached. Since the start of the digital marketing industry, there have been numerous changes, with one of the biggest being the rise of influencer marketing. This type of social media marketing uses endorsements by social media influencers. Companies work with those individuals that have a dedicated social media following, or who are seen as thought leaders of their industries. This type of campaign works because people tend to trust the social media influencers they follow and getting recommendations from them works as social proof of the efficacy of companies' products or services.
Most people believe that the best influencer marketing campaigns are done when businesses work with the biggest social media influencers, but that's not always the case. In terms of influencer marketing, people that don't have a large number of followers can actually produce the best results for many companies and businesses. This is because micro-influencers tend to produce more engagement, clicks, and higher returns on investment for businesses. The engagement rate is often very low for influencers that have many followers, which means that influencers with fewer followers generate higher engagement rates. It's important to remember that businesses aren't looking for more followers for their businesses or products if they can't convert those followers into sales.
The world of influencer marketing has been changing since it first started, with the focus of consumers shifting from the brands they follow to influencers that talk about different brands while recommending products. Many consumers are looking for more engaging content from the influencers they follow and want to interact with them. These days, it's not all about following a product or a brand blindly. It's also important to know that most consumers, when looking to connect with influencers, follow them across several social media channels. For example, if an influencer is popular on a platform like YouTube, many of their YouTube followers are going to follow their profiles on Twitter, Instagram, or any other social media platform they're using. That means when companies are creating influencer marketing campaigns to promote themselves or their products, they should take other social media platforms into account, and create content with the influencer for every platform where they have an audience, instead of solely focusing on a single platform.
Working with Influencers
One of the best things about working with influencers on a marketing campaign is that many consumers view the influencers as their friends, instead of as celebrities. These types of campaigns are very cost-effective for businesses, and they tend to target niche communities in the digital space. Many influencers also tend to have high engagement rates with their audiences. Companies that are looking to take advantage of the opportunities that influencer marketing campaigns provide first have to outline their goals and expectations, as well as set a budget for their campaign. After that, it's time to find the right influencers to work with and to verify their digital presence.
Dara Busch is co-President of 5WPR, a leading independent PR firm.
5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 250 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and Digital Marketing (Social Media, Influencer, Paid Media, SEO). 5W was awarded 2020 PR Agency of The Year and brings leading businesses a resourceful, bold and results-driven approach to communication.
Movable Ink | February 21, 2022
Movable Ink, the leading content personalization provider, announced that it intends to acquire Coherent Path, the AI-powered content engine powering some of the world's biggest brands.
Coherent Path aggregates data from a variety of sources and applies AI to map each customer's unique product discovery path and guide customers towards new products that deliver greater lifetime value for brands and customers alike. Unlike traditional algorithms that reinforce what customers already like, Coherent Path helps customers discover new products that they'll love while also meeting the brand's goal of delivering the most value to a customer relationship. Marketers still retain the ability to define business rules and own strategic brand goals; Coherent Path just helps marketers reach those goals faster.
Coherent Path will be integrated into the Movable Ink platform to help marketers intelligently and automatically adapt their messaging while maximizing the ROI of their marketing programs. Movable Ink continues to focus on content-level personalization by automatically generating content while seamlessly connecting into existing martech investments like ESPs and Marketing Clouds.
Every company on the planet wants to put their customer at the center of what they do. Personalization has become the new strategic imperative. Despite unprecedented access to data, marketers have not been able to understand recent behaviors and quickly shift their marketing to changing customer tastes. Existing production processes fall down when one has to create millions of unique experiences at speed and scale."
Vivek Sharma, CEO and Co-Founder of Movable Ink
"With Coherent Path's acquisition, we're bringing a game-changing AI technology to marketing teams everywhere. Whereas many current machine learning systems simply reinforce known customer behavior by recommending products similar to those customers have already purchased, Coherent Path's unique approach focuses on discovery. Customers are guided to their next favorite products, categories, and content, through AI that organically shapes content to fit each customer's evolving tastes and guides them to new areas across the product catalog. This is a potent solution when combined with Movable Ink's data access, content generation, and cross-channel personalization capabilities," added Sharma.
"We've been leveraging Movable Ink and Coherent Path to optimize and automate our email marketing program for several years now and have seen exciting results, including significant lifts in engagement and revenue," said Sean Duffy, Vice President – Contact Strategy & Search, Bloomingdale's. "With Coherent Path's AI and Movable Ink's ability to automate the creation of millions of variations of personalized content, this union is a win-win for Bloomingdale's as we work to increase production efficiencies and provide our customers with relevant content that enhances our relationship with them. We're eager to see how Coherent Path and Movable Ink build upon their unique value propositions together to help us take our personalization efforts to the next level and drive increased revenue."
The acquisition of Coherent Path by Movable Ink will enable marketers to better understand customer intent, activate any data, and serve the ideal, personalized content in an automated way across a variety of customer touchpoints.
"Coherent Path and Movable Ink have a shared vision of how the power of data and technology can transform marketers' strategies and drive incremental, lasting value," said James Glover, CEO and Co-Founder of Coherent Path. "We are excited to combine forces with Movable Ink to transform marketing from guesswork into a science that delivers powerful ROI."
With the addition of Coherent Path's 50 employees, Movable Ink will cross 500 employees globally.
Canaccord Genuity LLC served as exclusive financial advisor to Coherent Path in connection with the transaction, and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. served as legal advisor. Cooley LLP served as legal advisor to Movable Ink.
About Movable Ink
Customers don't experience data, they experience content. Movable Ink activates any data into personalized content in any customer engagement. More than 700 of the world's most innovative brands rely on Movable Ink to accelerate their marketing performance. With more than 400 employees, the company is headquartered in New York City with operations throughout North America, Central America, Europe, Australia, and Japan.
About Coherent Path
Coherent Path is an AI content personalization company for top retailers seeking to transform their email programs into a modern data-driven channel focused on revenue. Our machine learning solution empowers retailers with the optimal themes and categories they should feature in today's campaigns while continuously learning to inform the campaigns of tomorrow, deepen the customer relationship, and grow future revenue.
OpenText | February 04, 2022
OpenText announced that it is deepening its strategic partnership with Google Cloud by launching its OpenText Core Content as a service on Google Cloud, enabling customers to deploy OpenText's enterprise productivity suite on a global, trusted infrastructure. OpenText and Google Cloud will partner to deliver new capabilities to users, utilizing Google Cloud capabilities in secure software supply chains, SRE toolsets, and DevOps best practices for delivering a next-generation, cloud-native productivity platform, with low-latency and secure access for distributed teams.
Through this multi-year partnership, OpenText and Google Cloud will also jointly explore new functionalities and integrations to improve productivity for distributed and hybrid teams, including integrations between OpenText and Google Workspace to enable streamlined, secure, and governed access to data across entire organizations, and to deliver improved, cloud-based content services for enterprise customers. This partnership will enable customers to move from data-to-impact and create their information advantage, delivering innovative solutions that companies require for global collaboration, compliance, and business growth.
Distributed work is here to stay and organizations must ensure they have the right technology, information and processes in place to deliver on employee and customer expectations. To meet and exceed those expectations, we are excited to build the next generation OpenText platform on Google Cloud. Our long-standing, strong partnership with Google Cloud, and our proven track record of industry-leading co-innovations will help us support customers' hybrid work needs today and into the future."
Mark Barrenechea, CEO & CTO at OpenText
"OpenText is building for the future on Google Cloud," said Thomas Kurian, CEO at Google Cloud. "Their platform for enterprise content services is widely adopted among global enterprises, and with hybrid work here to stay, it's critical to enable secure, governed, and easy access to information across these large organizations. Delivering and building OpenText's core platform on Google Cloud will enable businesses to deploy its capabilities at great scale, securely and quickly, while enabling future integrations with popular collaboration services like Google Workspace."
OpenText, The Information Company, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions.