by Fronetics | Jul 3, 2019 | Blog, Current Events, Logistics, Supply Chain
U.S. Consumers will shell out $6.78 billion on food for cookouts and picnics for the Fourth of July 2019.
Highlights:
- Holiday food spending is projected to be down slightly from recent years.
- More Americans than ever (48.9 million) are planning to travel this Fourth of July.
- Men are expected to spend about $10 more on average than women.
As Americans get ready to celebrate the nation’s 243rd Independence Day, the National Retail Federation is making its annual list of projections for spending. Holidays have a big impact on the supply chain, and the Fourth of July is no exception.
Who’s spending what?
This year, 86% of Americans are planning to celebrate the Fourth of July. That number is down very slightly from recent years, with 87% celebrating in 2018 and 88% in 2017. Consequently, the average expected spending is down by just a few dollars this year, coming in at $73.33 per person, as compared with $75.35 last year.
Interestingly, while men and women are planning to celebrate in just about equal numbers (86% and 85% respectively), women plan to be significantly more frugal than men when it comes to purchasing food. Men are expected to spend $78.68 on average, while women plan to spend $68.20 each.
What’s everyone doing for the Fourth of July?
Cookouts, BBQs, and picnics are in most people’s plans (61%), with 40% planning to attend fireworks or other community celebrations, and 11% are attending parades. 26% of Americans are expected to purchase patriotic merchandise for Independence Day this year.
Even though overall spending is expected to be slightly down this year, AAA estimates that a record-breaking 48.9 million Americans are planning to travel this Fourth of July. This is a 4.1% rise over last year, with 1.9 million more people planning to get on the road this year. AAA credits the record numbers to lower gas prices, strong economic fundamentals, low unemployment, and rising disposable incomes.
Hot dog stats
Americans eat hot dogs better than just about anyone, and this Fourth of July, we’re expected to chomp down on roughly 150 million. It’s worth remembering that a year ago, Joey Chestnut set the record for the number of hot dogs eaten in 10 minutes, working his way through an impressive 74. Hot dogs are best washed down with a patriotic toast, and Americans are expected to spend upwards of $1.6 billion on beer and wine.
However you plan to spend the Fourth of July, Fronetics wishes you and your family a fun-filled and safe weekend.
(Made with Canva)
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by Fronetics | Jun 27, 2019 | Blog, Current Events, Marketing, Social Media
Also this month in social media news: Facebook releases details of its forthcoming cryptocurrency, and Instagram Pushes IGTV With Horizontal Video LinkedIn updates ad features.
Highlights:
- Facebook is removing several Information sections from business Pages, while also testing a feature that lets users preview posts.
- LinkedIn is increasing transparency for native advertising and boosting its data personalization capabilities with the acquisition of Drawbridge.
- Facebook’s new cryptocurrency, Libra, will enable fee-free fund transfers.
This month, Facebook is dominating the headlines when it comes to social media news. On the heels of its annual F8 developer conference last month, the social media giant is making several changes to its Business Pages, removing certain info sections and reportedly working on a new “Preview” option.
Meanwhile, LinkedIn is updating its ad features in several important ways for businesses. In addition to bringing more transparency to native ads, the social media site has acquired data personalization platform Drawbridge in a push to improve its ad targeting. In the world of Instagram and video, IGTV will now support horizontal video, as the platform seeks to make its IGTV feature increasingly appealing for users. Keep reading for more on these social media news items from June 2019.
Facebook makes key changes to Business pages
Facebook marketing has always been full of constant changes, but lately, as the platform responds to the fallout from Cambridge Analytica and other confidence-shaking scandals, it’s becoming increasingly more challenging for businesses.
Information sections are being removed
This month, changes to business Pages include the removal of certain information sections, effective August 1, including Company Overview, Biography, Mission, Affiliation, and Personal Interests. Prompts to Page admins inform them of the removals and encourage them to “consider adding this info to your Page’s description.” Theories abound as to why the social network is making this change. We think it’s likely that, as Social Media Today posits, Facebook is attempting to “reduce any unnecessary data collection in order to lessen its potential tracking and targeting issues.”
New “Preview” option is being tested
Meanwhile, Facebook is reportedly also testing a new “Preview” option for business Page posts, enabling marketers to see what a post will look like before hitting “Share,” with options to view in mobile or desktop format. In the flurry of more dismal news for businesses on Facebook, this feature would be a welcome bit of good news for social media managers. Being able to see exactly what your content will look like before you post it can help optimize your efforts on the platform and give you an extra failsafe when it comes to catching errors and typos before content goes live.
Instagram announces that IGTV now supports landscape videos
It’s been just over a year since Instagram rolled out its IGTV feature, making tweaks along the way, most notably allowing users to publish previews of IGTV content in the main Instagram feed. Instagram reports that since the launch of the improved publishing feature, “We’ve seen viewers spending more time with IGTV and a surge of new original content from creators of all sizes.”
IGTV is getting another makeover, as the platform responds to user requests to be able to upload landscape videos. Horizontal videos will now be supported in addition to vertical videos, both in the Instagram app and the IGTV standalone app. Viewers will be able to turn their devices sideways and view the content full screen. This is good news for marketers, as publishing video content on IGTV just got a little easier and more flexible. Rather than needing to adapt videos for the vertical format, marketers will now have an easier time integrating content straight from YouTube, for example.
Facebook releases details of its new cryptocurrency, Libra
This month, after extended speculation, Facebook has released the official outline and documentation for its forthcoming cryptocurrency, Libra. There aren’t a lot of surprises in the release. Libra will enable fee-free transfer of funds through Facebook’s “Calibra” crypto subsidiary.
According to Facebook, “From the beginning, Calibra will let you send Libra to almost anyone with a smartphone, as easily and instantly as you might send a text message and at low to no cost. And, in time, we hope to offer additional services for people and businesses, like paying bills with the push of a button, buying a cup of coffee with the scan of a code, or riding your local public transit without needing to carry cash or a metro pass.”
LinkedIn makes two updates to its ad features
In an effort to provide to bring more transparency to ads on LinkedIn, engendering trust among users, the network is introducing a new Ads tab on LinkedIn Pages. According to the platform’s announcement, “In this tab, members will be able to view all Sponsored Content (native ads running in the LinkedIn feed) that advertisers have run on LinkedIn in the past six months.” Clicking on the ads through the new tab won’t charge advertisers, and these engagements also won’t impact campaign reporting.
LinkedIn is also upping its game when it comes to data personalization. To help businesses better reach their audiences on the platform, LinkedIn is acquiring Drawbridge, Inc. “We believe Drawbridge’s team and technology will allow us to accelerate the capabilities of our Marketing Solutions platform, helping our customers better reach and understand their professional audiences and measure the ROI of their campaigns across mobile and desktop,” says LinkedIn’s Tomer Cohen.
What social media news are you following this month?
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by Fronetics | Jun 19, 2019 | Blog, Content Marketing, Current Events, Logistics, Marketing, Supply Chain
As the internet is increasingly dominated by visual content, social media analytics are failing to keep up.
Highlights:
- Most social media analytics tools are purely text-based.
- Even tools that analyze images are costly and offer limited insights.
- We predict that machine learning capabilities will improve and the gap between analytics capability and brands’ needs will close.
Here’s an interesting conundrum: social media, and the web at large, is becoming increasingly visual, and social media marketing relies on increasingly sophisticated analytics. However, most of the analytics tools out there are woefully unable to make sense of the visual content that is dominating social media. The alarming truth is that social media analytics are failing to capture invaluable data on visual content.
How social media analytics are failing to keep up
Big data and artificial intelligence expert Kalev Leetaru describes the shortfalls of social media analytics by detailing what they can — and can’t — do. While the capabilities of visual analytics have grown in the past several years, as Leetaru points out, most analytics tools that claim to analyze visual images are in fact based on textual or structural aspects of the image, not the visual content itself.
“The overwhelming majority of production social media analytics research relies primarily on hashtags and associated caption text, rather than the actual contents of the images themselves,” writes Leetaru. Instead, “from simplistic bag of words counting algorithms through advanced deep learning approaches, it is text that forms the lens through which we see social media.”
It’s important to note that this text-based approach is true not only for social media analytics, but for search engine algorithms. At Fronetics, we are constantly advising our clients to make use of visual content, from images to infographics to video, in their digital marketing efforts. But we always advise that marketers optimize their images for search engines, both by tagging all visual assets and publishing transcripts to go along with video or infographics.
[bctt tweet=”We always advise that marketers optimize their images for search engines, both by tagging all visual assets and publishing transcripts to go along with video or infographics.” username=”Fronetics”]
In essence, we’re advising our clients to take advantage of the increasingly visual nature of the internet, while also hedging against the ways in which algorithms and social media analytics are failing to assess visual content. As Leetaru points out, even in the rare cases when an analytics tool offers image analysis, it “typically offers only a few basic lenses through which to analyze that content, such as logos and a small number of topics.”
Of course, analyzing visual content is no easy task, and it’s also not cheap. “Images don’t capture reality, they construct it,” observes Leetaru. Not only are there all kinds of variables, like framing or lighting, that come into play, but there is a tremendous amount of non-visual context that determines how an image will be received. And the fact is that “current deep learning approaches are largely unable to incorporate such external world knowledge into their assessments.”
The problem with analytical failure
It’s important for marketers to recognize that, at the current moment, there is a gap between the capabilities of analytics tools and the analytics needs for modern digital marketing. As we as a society “increasingly express ourselves exclusively through visual forms,” brands desperately need insights about this visual expression.
Leetaru sums up the problem with sobering simplicity: “As social media becomes more visual, it becomes less accessible to our data-mining algorithms. In turn, as social media is less and less data minable, we are less and less able to understand it.”
Perhaps even more alarmingly, he cautions that “given that visual expression skews towards the younger and influencer demographics of greatest interest to many brands, this transition is especially damaging to their ability to extract useful insights from social media.”
Essentially, what Leetaru is recognizing is that we’re at a perilous moment for digital marketing. Just when the possibilities for content creation and dissemination seem endless, social media analytics are failing to offer up the insights needed to shape these processes in an increasingly visual climate.
“In the end, as social platforms rush towards a visual-first world, the vast landscape of social analytics is getting less and less representative of what we’re really talking about,” concludes Leetaru.
What does the future hold for analyzing visual data?
While you may be thinking that the future looks pretty bleak in light of how social media analytics are failing us, there’s a silver lining. If there’s one constant when it comes to social media marketing, it’s that when there’s a demand, sooner or later, supply will catch up.
It’s true that the current visual analytics capabilities of most platforms are far behind what’s needed. But at Fronetics, we predict that deep machine-learning capacities will start to catch up, and increasingly sophisticated analytical capabilities will become available to a wider segment of the market.
Currently, social media analytics can recognize text, faces, and brand logos within images. While these capabilities are, at present, too costly for most companies to take advantage of, we’re keeping our eye on some emerging technologies. For example, analytics provider Scraawl has recently released a tool called Scraawl PixL, which will allow users to run object and face detection, as well as Optimal Character Recognition, which extracts text from images.
Expect to see more tools like PixL on the market, offering increasing sophistication. While social media analytics are failing to keep up with the onslaught of visual data at the moment, we predict that they won’t be behind for long.
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by Fronetics | May 30, 2019 | Blog, Current Events, Marketing, Social Media
Also, this month in social media news: Facebook shows marketing decline; Instagram introduces unfollower statistics for creators; and YouTube adds still-image ads.
Highlights:
- Facebook announces a new redesign that puts Groups at the center – and brands on the outskirts.
- For the first time in 5 years, Facebook marketing is in decline.
- Instagram is testing small changes that could make a big difference for brands.
It’s been a big month in social media news. Kicking things off, Facebook held its annual F8 developer conference, giving the world some insights into the platform’s future, including long-term goals. Just one week later, Social Media Examiner released its annual Social Media Marketing Industry Report, which showed a decline in Facebook marketing in general.
In the meantime, YouTube is rolling out a new development for advertisers: still image ads. LinkedIn has updated its Job Search tools, and Instagram is empowering creator accounts with data about unfollowers and new likes. Read on for a roundup of social media news from May 2019.
Facebook Holds Its Annual F8 Developer Conference
From April 30-May 1 in San Jose, CA, Facebook gave developers some glimpses into its long-term goals and strategies. Perhaps the biggest news from the conference is the complete redesign of both its desktop and mobile versions. While the redesign has some aesthetic changes, the important thing for marketers to know is that Facebook is now structuring itself around Groups. As Facebook reported, the new design “puts your communities at the center.”
It’s official: Facebook is departing from the News Feed focus, and instead continuing to turn toward being a more friends-focused platform. In the wake of Cambridge Analytica, Facebook is continuing its push to restore user confidence — and in doing so, it’s clearly demonstrating that Facebook is a decreasingly friendly place for brands. Marketers need to stay abreast of the ongoing changes and shift their Facebook strategies accordingly. Keep an eye on our monthly social media news roundups for updates.
New Report: Facebook Marketing Decline
The Social Media Marketing Industry Reportis out, and its findings offer some surprises — at least on the surface. In a reversal of trends from the past 5 years, there is a clear indication that marketers are turning away from Facebook. While this doesn’t mean that marketers are turning away from Facebook entirely, it does mean that they are diversifying their social advertising. One in 10 marketers indicated that they’ll be decreasing their organic marketing on Facebook, and only 51% plan to increase their organic activities, down from 62% in 2018.
LinkedIn Updates Its Job Search Tools
LinkedIn is continuing to build quietly on its success as a highly respected, professional platform. According to LinkedIn’s announcement of recent changes to its Jobs tools, “We’ve grown from 300,000 to 20 million job postings in the past five years, with members applying to 25 million jobs every week and a new hire made every 8 seconds using LinkedIn.”
The network has redesigned its Jobs section, with the goal of catering better to user needs. The homepage is now more streamlined and less cluttered, and more focused on advertising roles, making it easier for users to scan quickly through available opportunities. The platform is also revamping its job alerts system, giving users instant, personalized alerts about available opportunities. It’s also making its Salary Insights data available to all members.
Instagram Separates New Likes on Posts and Adds Unfollower Stats for Creator Accounts
Instagram is testing out some options that will help businesses easily see activity and take actions based on it. The platform is now sorting the Likes section for creator accounts into “Earlier” and “New” sections, helping businesses easily distinguish the latest activity. The feature has been on Android for several months but is new for iOS.
Similarly, Instagram creator accounts now have access data on followers and, notably, unfollowers. This is valuable data for marketers, as it provides context on content and overall account performance.
YouTube Adds New Still Image Ads
YouTubehas announced that it will soon begin providing non-video advertisers with a new still-image option that will appear within YouTube home feeds. “For a long time, advertising on YouTube meant your brand had to have a video or app ad,” says the announcement. “We’re excited to announce today that’s no longer the case.”
YouTube is calling the feature Discovery Ads, and it will use audience targeting to display ads to relevant users based on their activity. “Discovery ads are a simple and effective way to tap into the power of YouTube — and you don’t even need a video. Just upload your best images from your social campaign, then we’ll optimize your media mix for maximum performance across Gmail, Discover and the YouTube Home feed.”
What social media news caught your eye this month?
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by Fronetics | Apr 30, 2019 | Blog, Current Events, Marketing, Social Media, Video Marketing
Also, this month in social media news: LinkedIn adds a “Teammates” option to facilitate connections among colleagues, and Facebook is testing a Stories-like newsfeed.
Highlights:
- Facebook is giving users increased access to what information advertisers have on them.
- Instagram is considering joining Facebook in promoting communal video experiences.
- LinkedIn’s “Teammates” feature helps users prioritize content from close connections.
This month in social media news, Facebook is continuing to combat user privacy concerns by introducing a tool to provide greater transparency about the content they see on their Newsfeeds, both from connections and from advertisers. The platform is also continuing to explore the Stories trend, as it conducts early-stage testing of a layout that resembles the Stories feature more than it does the existing Newsfeed.
Both Instagram and LinkedIn are promoting greater community among users. Instagram is testing a group video viewing option, joining Facebook’s Watch Party, introduced last year. LinkedIn is rolling out a feature which allows users to prioritize content from their closest connections. Read on for a round-up of social media news.
Facebook Introduces a Feature to Assist Users in Understanding the Context of Content Appearing on the Newsfeed
Having been embroiled in ongoing privacy-related scandals, Facebookis making users’ safety and comfort using the platform a priority. To that end, the company has announced that it will be giving users greater control over the content that appears on their Newsfeeds, through the “Why am I seeing this post?” feature.
[bctt tweet=”Facebook has announced that it will be giving users greater control over the content that appears on their Newsfeeds, through the “Why am I seeing this post?” feature.” username=”Fronetics”]
In 2014, the social media giant launched its similar feature, “Why am I seeing this ad?” which was geared toward projecting transparency in the company’s embattled relationship with users and their advertising content. Facebook announced simultaneously that it will be “making improvements” to the older feature. The new “Why am I seeing this post?” feature aims to help users understand the context for what shows up in their Newsfeeds, and it also allows them to control and manage content.
Marketers should be aware that users will now be able to find out when their profile information matches with the information on an advertiser’s list, as well as when an advertiser “saves their personal information in their database and other details such as if they (the users) were targeted by the advertiser through another marketing partner of theirs (advertisers).”
Instagram Tests a Communal Video Viewing Option
Social media platforms are continuing to push the boundaries of social experiences that are possible for users not in physical proximity. Back in 2018, Facebook rolled out its “Watch Party” option, and now Instagram is exploring jumping on the bandwagon, testing a similar function in its app.
The feature would allow users to view video content on Instagram with a friend, while simultaneously seeing their reactions on screen, using the phone’s camera, in a split-screen view. Users can also apply face filters and other visual tools to the personal feed. Instagram and Facebook’s features are part of a larger trend toward “multi-participatory consumption.”
LinkedIn Adds a New “Teammates” Option to Maintain Connections Among Colleagues
In an ongoing attempt to boost on-platform engagement, LinkedIn has introduced a new feature called “Teammates.” It enables users to put a priority on updates from immediate connections, content with which LinkedIn has found that its users are 60% more likely to engage than more distant connections. As users place a priority on updates from teammates, it will appear higher in their feeds.
The network is pushing the feature as promoting community within the workplace: “95% of working professionals think it’s a good idea to have friends at work, and 63% say they have relationships with their co-workers outside the office. Based on a recent study we shared last month, having friends at work can also help you advance your career.”
Marketers should take note, since it’s not immediately clear what the impact of this feature will be on branded content. Nonetheless, it emphasizes the value of cultivating meaningful connections on the platform, as potential clients will be more likely to mark these types of connections as “teammates,” placing a higher priority on their content.
Facebook is Testing a Stories-Like Swipeable Newsfeed
Stories features across the social media landscape continue to grow in popularity. In keeping with the trend, Facebook is experimenting with a Newsfeed layout which allows users to side-scroll or swipe between posts in their feed, rather than scrolling down. This is a potential significant re-design for the platform, and points to the fact that the Stories trend is here to stay.
If Facebook adopts the design, it would merge Stories and Newsfeed content into a single stream. The network emphasized to TechCrunchthat it is “in the very early stages of development,” and “still needs to conduct a lot more user research before any public experimentation can take place.”
Therefore, while it’s unlikely that a new Newsfeed is coming soon, what is clear is that social media platforms are experimenting with increasingly integrating Stories-style content into every aspect of the user experience.
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by Fronetics | Apr 18, 2019 | Blog, Current Events, Manufacturing & Distribution, Robotics & Automation, Supply Chain
A McKinsey & Company report studied the impact of automation in manufacturing driven by rapid advances in robotics, AI, and machine learning.
Highlights:
- New robotics technologies are cheaper, faster, and smarter than before.
- 87% of hours workers spend in production could be automated with existing technologies.
- Learn what four factors to consider when making decisions about automation.
Since the industrial revolution, automation has been a major disruptor in manufacturing. Once again, a new generation of robotics and related technologies is reshaping the face of the manufacturing and distribution industries. In fact, American manufacturing has made a recent comeback, thanks in large part to the widespread use of automation and robotics.
Automation technologies that were once cost-prohibitive are now more achievable — and the return on investment is greater than ever before. The new generation of robots are not only far less expensive than their ancestors, but they are also more versatile, flexible, and able to learn new tasks, even those that were far too difficult for machines just a few short years ago.
[bctt tweet=”The new generation of robots are not only far less expensive than their ancestors, but they are also more versatile, flexible, and able to learn new tasks, even those that were far too difficult for machines just a few short years ago.” username=”Fronetics”]
Robots are now capable of, for example, “picking and packing irregularly spaced objects, and resolving wiring conflicts in large-scale projects in, for example, the aerospace industry,” according to a recent report from McKinsey & Company. Not only that, artificial intelligence is leveling the playing field between human and machine, and “increasing the potential for automating work activities in many industries. In one recent test, for example, computers were able to read lips far more accurately than professionals.”
Quantifying the impact of automation on manufacturing
McKinsey’s study, which covered 46 countries and about 80% of the global workforce, determined that a tremendous amount of working hours could be eliminated or repurposed by automation with technology that is already here.
The study found that “87% of the hours spent on activities performed by workers in production occupations are automatable — the most of any manufacturing occupation.”
And it doesn’t stop there. “Even among other occupations in manufacturing (for example, engineering, maintenance, materials movement, management, and administration), however, there is still significant opportunity, with approximately 45 percent of these working hours automatable as well.”
The cost and logistics of automating
In general, the study found that automation allowed wages to increase globally and profits to grow. The authors emphasize the fact that in order to capture long-term value from automation, manufacturers’ best bet is to implement technologies in phases, capturing value at each phase, allowing for future investment.
Many complex factors come into play when it comes to meeting the challenges associated with automation, deciding what to automate, and when to implement technologies to best capture long-term value. Cost is just one element, albeit an important one.
McKinsey suggests considering the following four factors when making decisions about what to automate:
- Technical feasibility
- Cost associated with developing and deploying necessary hardware and software
- Cost of labor and resultant “supply-and-demand dynamics”
- Benefits beyond labor substitution, such as increased output and quality, and fewer errors
An American manufacturing renaissance
The Association for Advancing Automation has predicted that “American manufacturing’s embrace of robotics will ensure a new manufacturing renaissance in this country.” Already, we’re seeing a steady trickle of companies reversing outsourcing trends, as it’s becoming profitable again for manufacturing to take place in the United States, rather than relying on cheap labor abroad.
As more operations embrace automation — and as we continue to witness rapid advances in robotics, AI, and machine learning — American manufacturers won’t be the only ones to reap the benefits. Many experts are predicting that automation in manufacturing will create new, better paying jobs.
Optimists include our own CEO Frank Cavallaro, who recently wrote: “From what I see now … I still feel optimistic that AI and automation will create leaner, more efficient operations that will, in turn, create new (even if different) jobs. To me, it still looks like the ones winning from the increasing technological advances in the manufacturing industry are, in fact, we humans.”
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