MarketingDojo #58: 📢 "Billboards in Business Casuals" 👔
Significance of employee advocacy, Gen Z just cancelled a much loved brand and more.
Hello Everyone,
Happy Wednesday! Welcome back to the 58th issue of Marketing Dojo.
It's been an interesting past few days for me. I am diving deep into first-hand research for an upcoming keynote speech. My mission? To understand the world through the eyes of Gen Z. This meant engaging in enlightening coffee chats with the voices of the future. And let me tell you, I am mind-blown.
I learnt a lot, some of which I will share with you in the upcoming issues, but for today - I learnt that this one iconic brand is now on Gen Z's hate list.
"McDonalds is totally cancelled, it's over" - quipped one bright young lady, sipping what she described as a coffee that "slaps."
Man! Those words drove my curiosity and anxiety through the roof! I will share more about the pariah brand in today's issue.
Here's what we will cover today:
🌟 Employees as Influencers for B2B companies
📊 The New Social Media Benchmarks
🍟 Gen Z is Saying, "I am not loving it"
🎨 Meme-time: TV ads are like cockroaches
And lots more.
🚨One more thing: I will be taking a break next week. Q1,2024 has been extremely rough for me with multiple official, speaking, and writing projects. I want to take a week off to replenish my energy. So be back after a short week-long break.
With that out of the way, ready to dive in?
Social Media’s Ups and Downs.
RivalIQ's 2024 Social Media Industry Benchmark report is here.
I rely on the RivalIQ report primarily because of its robust methodology - The report features benchmarks for 14 industries based on the results from 150 companies chosen randomly from a database of over 200,000 companies. The companies selected had an active presence on Facebook, Instagram, TikTok, and Twitter. They had Facebook fan counts between 25,000 and 1,000,000 and minimum Instagram, TikTok, and Twitter followers of 5,000 as of the same date.
So what's new in 2024?
The engagement rate for TikTok posts (2.63%) has halved compared to 2022 (5.69%). TikTok has higher engagement rates than Instagram (0.43%), Facebook (0.06%) & Twitter (0.029%).
Despite its rising popularity, brands across industries post less regularly on TikTok (1.9 times/week) than on Instagram (4.7 times/week).
Engagement rates on Twitter/X dropped by 20%; brands also posted less regularly on the platform (a decrease of 15%)
When we look at our campaign performance, it is tough to know whether a number is good, bad or ugly. RivalIQ's benchmarks are a good way to ascertain how our content performs despite the usual battle against the algorithms.
We are not loving it.
The humanitarian crisis in the Gaza Strip recently found its way into an unusual setting: McDonald's earnings call. The renowned fast-food giant encountered a notable dip in sales, a rare event directly linked to the ongoing conflict between Israel and Hamas.
McDonald's in Israel made headlines for distributing free meals to the Israeli armed forces amidst severe food shortages faced by millions in the Gaza Strip. This action was enough to spark outrage in Muslim countries across the Middle East and even Indonesia and Malaysia.
This incident has particularly resonated with Gen Z, a generation increasingly known for its readiness to boycott brands that do not align with their ethical views. McDonald's and other major brands like Starbucks and Coca-Cola have faced scrutiny, but the backlash against McDonald's has been more pronounced. A TikTok video explaining the situation has garnered over 830,000 views, highlighting the widespread attention and concern.
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McDonald's operates via a franchise model worldwide. The structure complicates the company's ability to oversee the marketing activities of individual franchisees. Meanwhile, the actions of the franchise in Israel have had worldwide repercussions.
Interestingly, before the controversy, McDonald's had been gaining popularity among U.S. teenagers, as evidenced by Piper Sandler's "Taking Stock with Teens" survey, which showed an increase from 6% to 9% in popularity from spring to fall 2023. This rise was attributed to McDonald's efforts to engage younger consumers through targeted marketing and collaborations. However, the controversy surrounding the franchise in Israel has marred this growing popularity.
This situation underscores a crucial lesson for brands: the actions and stands they take are closely monitored by the younger customers. In today's interconnected world, a decision by a single country team can impact global perception. If you were to take a stand, go for one which unites, such as the bread exam I shared last week, instead of divisive ones, such as the one by McDonald's Israel. Global marketing and brand teams must remain vigilant, guiding regional and country teams on sensitive issues to address or avoid, emphasizing the importance of unity and positive engagement in their operations.
The Inside Influence: How Employee Advocacy is Changing the Game
"Your employees are now your billboards, communicating with your industry on a daily basis, on the topics that matter right now". - Ogilvy 2024 Influencer Trends.
The Marketing Society featured my latest article on the untapped potential of employee advocacy in B2B marketing. For those pressed for time, here's a distilled overview:
What is Employee Advocacy?
People prefer buying from individuals they trust. Employee advocacy programs empower employees at all levels to create, curate, and share company & industry-specific content.
Why pursue employee advocacy?
The content employees share garners 8x more engagement than that shared through brand channels on LinkedIn. An employee advocacy program can drive 16% better win rates, 2x pipeline, and deliver 48% larger deals.
How to launch a successful program?
The essential ingredients to kickstart a successful employee advocacy program are
Appropriate training programs
A platform to drive content discovery
Gamification by creating short-burst enterprise-wide contests Reinforcement through communication of success stories
Measuring Success:
The effectiveness of an employee advocacy program can be gauged through:
Increased organic traffic
Self-reported attribution by employees
The earned media value of shared content
The Bigger Picture:
Think of employee advocacy as the democratization of thought leadership. It's not just the executives who shape perceptions; when employees across the board share their insights and successes, your brand's influence magnifies exponentially. This approach amplifies your message and fosters a culture of inclusivity and engagement, turning your workforce into your most valuable marketing asset.
TV Ads as the Ultimate Comeback Kid
Just when we thought ads on TV were a goner, they came back with a vengeance. The shift towards cord-cutting, which saw consumers moving from cable to more affordable and flexible ad-free streaming services, has now seen a notable twist.
Amazon Prime is projected to generate $2 billion from advertisements on Prime Video in just its first year, while Netflix's ad-supported plan boasts over 23 million global monthly active users.
Ads on TV are a bit like a cockroach - pesky but indestructible.
Short Stuff:
Google has introduced transparency measures in ad placements in the Search Partner Network (SPN) in response to Adanalytics reports. (Ignore, deny & then make changes.)
YouTube introduces "Collab" for Shorts, a feature allowing creators to engage with and remix content in a split-screen format (Copycat of TikTok's duet function).
Distancing itself further from news, Facebook will deprecate Facebook News, a dedicated tab for news content. (Bye-bye News on Facebook).
That’s a wrap on this week. Thank you for your time and attention. If you liked this week’s newsletter or found something interesting - please give me a like ❤️ or drop a comment🗨️. Your support helps drive the discoverability of the newsletter.
Once again, thank you for your time. See you in your inbox next Wednesday.
Regards,
Garima Mamgain
P.S:
A happy International Women's Day to all the ladies and men who are allies! The theme for 2024 is "Inspire Inclusion". And on this theme of inclusion, I am looking forward to joining 200 other women in the Walk The Talk event happening here in Singapore.
On March 8th, the organizers & volunteers of the Lean-in network will pair mid-career women professionals like me with 100 C-suite executives for a walk and an opportunity to request sponsorship.
Uma, one of the driving forces behind the event, asked me to come with a clear ask of my sponsor. Honestly, it isn't easy for me to ask for support. But I am looking forward to the challenge and the walk.
How are you spending IWD 2024?
Employee advocacy is such an interesting mash up of social media + employer branding programs, which have been traditionally managed by separate functions and seen as separate projects.