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Q2/2014 MarComm Business Bulletin - read about the 47th FIBEP congress, ROI, Mergers & Acquisitions, Hot Technolog Tips, and Media Monitoring Insights.
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In this issue
47th FIBEP Congress
From ROI to ROE
Mergers & Acquisitions
Technology Tips
Trading Across Borders
Where to, Media Monitoring
 

47th FIBEP Congress will be hosted by PR News, Russia

As a hosting company, PR News, Russia is very proud to announce St. Petersburg as the city of the 47th FIBEP Congress. The FIBEP General Assembly unanimously voted for the next Congress to be hosted in St. Petersburg from the 7th until the 12th of October, 2015. The video of this presentation is available to be viewed on the FIBEP web site, within the members’ only area.
 
Preparations for the Congress are underway and PR News is looking forward to an exciting and interesting programme. “PR News team is pleased to welcome the FIBEP family to St. Petersburg and for the opportunity to share the unforgettable moments with our colleagues and friends. Let’s open Russia with PR News,” says Lilia Glazova, Managing Director of PR News.
 
The Congress in St. Petersburg will give a unique opportunity to FIBEP members to discover the fast growing Russian market. It will be a chance to see the country from all the different angles. The key trends for the media monitoring market in Russia are quite similar to the global situation regarding expansion of social media monitoring and measurement.

St. Petersburg is known to be the northern capital of Russia and it is truly one of the most unique places. The city combines the features of the traditional Russian town with the imperial magnificence and special spirit of the so-called Venice of the North with its canals and islands. The beginning of October is lovely period for visiting as trees with golden foliage create a look of sunshine on the street and parks. FIBEP members will have a chance to enjoy the classical views and great cultural heritage.
 
PR News joined FIBEP in May 2011. The company was founded in 1995 and has become one of the leading media monitoring companies in Russia covering all types of media (press, internet, TV, radio, social media) and providing media analysis services. In 2013 the international department was opened to pay special attention to this direction of development. PR News is looking forward to cooperate closely with FIBEP President, new FIBEP Secretary General, Executive Committee and all FIBEP members.
 
   
   

Written by:
Elena Ageshina, Client Service Manager, 
PR News, Russia
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ROE or ROI…Time for a mindset shift? 

Companies often wonder to what extend does a piece of content on social media contribute to brand equity of a brand. Is ROE the new measure for that? Return on engagement is a new buzz term used in social media marketing to measure the positive impacts or results of a brand’s social media efforts to engage with its audience.
 
Companies with a strategic thinking need to engage in conversation, message distribution, and 24/7 interaction. Engagement leads to brand interest, awareness, engagement and ultimately sales. With that in mind, companies should focus on Return on Engagement (ROE) instead of Return on Investment (ROI).
 
ROE is a long term goal: to build bigger communities inspire stronger loyalty, create a strong bond with your brand and create advocators that will “love” to talk about a brand to others. While ROI deals with economical terms with what you get back from your investment, ROE aims at what you get back in brand strength with key “return” components being:
  • Participation;
  • Degree of authority;
  • Influence; and
  • Sentiment
Engagement is the “holy grail” for every successful company.  But when it comes to measuring the results of social media efforts, there is a significant difference between quantity and quality. Numbers (for example # of twitter followers) do not necessarily equal social media success. The digital agency 22Squared supports that social media efforts should focus on objectives such as advocacy, trust, loyalty, and influence instead of reach, awareness, and simple engagement.
 
And YES, engagement can be measured. Check out this interesting case study by 22Squared !
 
Apropos, while I was about to finish this article with the above phrase, I read this article by Don Bartholomew (a person I admire deeply) about the difference between Value and ROI. Don argues that “many of the well-intentioned but misguided attempts to rename or reinvent what ROI means in social media – return on influence and return on engagement probably getting the most play – seem to be the result of an inability to distinguish value creation from ROI…”
 
I would love to hear your opinion to this issue!  
 
 
 

   Written by:
   Sophia Karakeva, CMO
   DataScouting,Greece
 
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Mergers & Acquisitions - The Evolution of the Media Intelligence Industry

In our increasingly globalised world, the consolidation of the media intelligence market is part of the natural evolution of our industry. In recent years there have been a large number of mergers and acquisitions across international markets, and many would argue that this trend will not only continue, but increase. These changes are driven by number forces including macro factors such as the international & domestic economic environments, as well as significant developments in technology.
 
 The recent economic challenges which many firms have faced domestically were exacerbated by combination of slowed growth in the global economy, as well as changing demands amongst customers. These challenges have meant that many firms experienced a reduction in their revenues and subsequently, more difficulty in accessing additional funds. Such factors mean that for many businesses today, the possibility of being acquired by a larger company or potentially merging with a similar sized competitor may represent a logical strategic business move.
 
Advances in technology also mean that production and administration processes can now be centralised more efficiently than ever, allowing larger organisations to gain economies of scale in both of these areas. When successfully achieved, economies of scale can reduce both the capital and operating costs (per unit) and thus increase the individual product margins which can be realised.
 
For many organisations, size means deeper pockets to invest in marketing, research and new services. While for others, smaller firms are still more attractive as they offer the potential to react faster to the changing market and demands. While each country has its own unique trading conditions, it is likely that consolidation will continue to gain pace across the global media intelligence industry.



   Written by:
   Brian McCarthy, Sales & Marketing Director,
   Newsaccess Media Intelligence, Ireland
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Technology Tips - Communicating across borders

Technology has revolutionised the way in which international business is done. For those operating over large geographic areas or with international partners, there are now a variety of excellent tools which can be used to increase efficiency and reduce your communications costs. Here are 5 basic free tools to help you to get the most from your efforts.
 
WhatsApp
WhatsApp is a simple mobile App which allows users to communicate via ‘instant messages’ for free. The App itself is simple to use and importantly it will allow you to create specific groups for work teams or projects. WhatsApp is especially effective for providing short updates to single or multiple users.
 
Dropbox
Dropbox is one of the most efficient ways to instantly share large files with your colleagues or audience. The service is free and allows you to upload files in multiple formats and then choose specifically who you share access with. This service can be particularly useful for groups working on projects with shared files.
 
Skype
Skype has been a long-time friend of those communicating internationally. Recent advances in technology and internet speed, now mea that Skype is more effective than ever. Skype allows users to communicate via voice-call, video link or instant message at no cost.
 
Viber
Similar to WhatsApp, Viber offers users a simple and free way to share information via instant messages and voice calls. The App can be downloaded to your mobile device and is free.
 
SlideShare
SlideShare is a simple tool which can be used to share information and presentations with your audience. It can be especially useful if you wish to share the contents of a presentation with others after the event or presentation has taken place.
 
The above list is starting point but there are literally thousands of additional tools such as Google Drive which can also be used to make communicating internationally more effective. 
 

   Written by:
   Brian McCarthy, Sales & Marketing Director,
   Newsaccess Media Intelligence, Ireland
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Trading across borders

Barriers due to cross-cultural and international communication diversity
 
Despite the current economic downturn, companies from all over the world are seeking opportunities to grow through international expansion. To make it in an international world of business and succeed in markets away from home, organizations often need to overcome cultural differences and are challenged to build productive cross-border collaborations.
 
Cross-cultural communication is a valuable but difficult skill. Language factors (like tonal or non-verbal communication), which are influenced by culture, are a combination that makes communication barriers especially complex.
 
In a global business world, cultural barriers are always present and need to be constantly managed. Understanding communication and how to communicate across cultures is fundamental to building cultural intelligence. This type of intelligence is central to the success of todays cross culture, cross border and cross organisation worker.
 
The reason why many mergers and acquisitions have a difficult time integrating is usually because they have different norms, values and ways of doing things. The challenge in managing multicultural teams effectively is to recognize underlying cultural causes of conflict and maximise the creative collaborative potential. Therefore, cultural knowledge, skills, intelligence and mindfulness are very important.

Globalisation can be both a curse and a blessing for companies. A global talent pool can lead to increased creativity and efficiency but the failure to successfully integrate diverse workforces can have negative implications for organisational performance.
 
Let me use a quote I found by Jim Collins , which I believe makes a perfect closure for this article: “I don't know where we should take this company, but I do know that if I start with the right people, ask them the right questions, and engage them in vigorous debate, we will find a way to make this company great.”
 
(For more on how cultural and communication barriers affect business take a look at a report from the Economist Intelligence Unit.)
 
 

   Written by:
   Sophia Karakeva, CMO
   DataScouting,Greece

 
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Where to, Media Monitoring?

The world is changing and so too is consumer behaviour. The world of the media has become increasingly digitised as publications move from hard copies to electronic pages. So what does it mean for a company providing media monitoring? The percentage of readers born into the internet age is growing. This ‘online’ generation of young people who were born in the 1990s now display different consumer behaviour patterns than the older ‘paper and ink’ generations. For a monitoring agency this means the need to monitor traditional as well as online sources (online news coverage, blogs, social networks, etc.), the number of which keeps growing exponentially. Processing so much data has itself become a technological challenge.  Solutions include developing in-house tools for digital data processing, or partnering with a technology company that offers the required solutions.

The modern customer requires a monitoring service that will help them to avoid becoming lost in an avalanche of information. This propels traditional monitoring towards product with a higher added value. Media analysis is now more important, providing a deeper insight into problems and enabling the customer to make decisions more easily.  Media analysis will filter and make important data easy on the eye. It also highlights crucial information which should not escape one’s attention. Media Analysis also reduces the time that customers need to spend reading media content, in order to arrive at appropriate conclusions.

The Central European customer is halfway through this change. Communication via online media is still developing here, although social media does not yet play as pronounced role as it does in the West. However, the trend in modern media monitoring is quite obvious: it develops from BIG data towards SMART data. A well-conceived media analysis will become an ever more widely used, providing users with condensed information from the media. In addition to advanced technologies, the competitive edge of the monitoring agencies will consist also in experienced media analysts, who can supply the customer with relevant facts and connotations, and provide them in a visually appealing format. 
 
           
 

Written by:
Magdalena Horanska, International Marketing Director 
Newton Media, Czech Republic

 
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