To help lead the transition to sustainable finance, the world’s central bankers have set up their own fund for green investing.The Bank for International Settlements (BIS) announced the launch of a new open-ended fund for central banks to invest their reserves in green bonds. 123RF/Weerapat Kiatdumrong James Langton Facebook LinkedIn Twitter Keywords Green bondsCompanies Bank for International Settlements Share this article and your comments with peers on social media The fund, which is denominated in U.S. dollars, is managed in-house by BIS Asset Management as part of its pool for fixed income investment products.The fund will invest in bonds have a minimum credit rating of A-, and must comply with the International Capital Market Association’s green bond principles and/or the Climate Bond Standard published by the Climate Bonds Initiative.“Responding to a growing demand for climate-friendly investments among official institutions, the BIS’s green bond fund initiative helps central banks to incorporate environmental sustainability objectives in the management of their reserves,” the BIS said.Additionally, it says that the initiative aims to support the growth of the green bond market, and the adoption of best practices in that market.“We are confident that, by aggregating the investment power of central banks, we can influence the behaviour of market participants and have some impact on how green investment standards develop,” said Peter Zöllner, head of the BIS banking department.
NOF Energy has appointed Richard Turner, the Chief Operating Officer at the Hartlepool-based offshore cable manufacturer, JDR Cables, to its board.Turner joined JDR Cables in 2014 following almost five years as Vice President Global Manufacturing with Technip Umbilical Systems.JDR Cables, a member of NOF Energy, operates in global markets as a manufacturer of subsea umbilicals and power cables.”I am very pleased to be invited to join the board of NOF Energy,” Turner said.”It is a very proactive organisation that consistently supports the business development ambitions of its members. The broad expertise and experience of the board is invaluable to assisting the development of NOF Energy’s offering, particularly in the current evolving industry environment.”NOF Energy’s board, which is made up of 13 industry professionals from the energy sector supply chain, works to inform and direct the organisation’s strategy. Providing services for its network of 500 members that help identify new business opportunities in the UK and around the world, NOF Energy also delivers industry intelligence and hosts a calendar of networking events and briefings.George Rafferty, Chief Executive of NOF Energy, said: “Richard is a welcome addition to the NOF Energy board. His insight into the challenges and opportunities that face the energy supply chain will be of particular benefit. The role of the board has never been more important as NOF Energy evolves its offering to meet the changing landscape of the global energy industry. The support and guidance the board gives to the management team enables us to provide our members with effective services across a range of energy markets.”
LSU guard Antonio Blakeney (2) pulls down a rebound in front of McNeese State forward Austin Lewis (44) in the second half of Friday’s game.BATON ROUGE – The LSU men’s basketball team, off a season opening win Friday against McNeese State, begins the first of four games in the Legends Classic with a Pete Maravich Assembly Center home game Monday night at 8 against Kennesaw State (0-1).The game is also part of the ESPN eight annual Tipoff Marathon which begins Monday night with 25 basketball games on the ESPN family of Networks including 13 Top 25 teams (including LSU), 21 NCAA Tournament teams from 2015 (including LSU) and nearly 31 hours of college basketball running almost until midnight on Tuesday.The LSU game will be played on ESPNU with Mark Jones and Daymeon Fishback on the call.LSU is coming off an 81-70 win over McNeese State on Friday night in the season opener as three freshmen combined for 51 of LSU’s points. Antonio Blakeney had 22 points and 10 rebounds, Brandon Sampson had 18 points (4 treys) and Ben Simmons had 11 points, 13 rebounds with five assists and two blocks. Junior Tim Quarterman had 11 points and three assists.The Tigers scored the last seven points of the first half over the final 2:25 to take a 41-27 halftime lead and then put the game away with a 20-0 run in the first 6:09 of the second half to go up 61-27.Kennesaw State lost at Tuscaloosa against Alabama, 77-64, on Friday night. Alabama jumped out to an early 21-5 lead, but the Owls were able to cut the game to single digits midway through the second half. Senior point guard Yonel Brown had his third career double-double pouring in 34 points and collecting 10 rebounds. Kendrick Ray in his first game with the Owls had 17 points, 15 of which came in the second half.It is expected that LSU will keep the same lineup as Friday’s opener with the three freshmen and Quarterman joined by center Elbert Robinson III, who had a strong eight points in 13 minutes despite foul trouble. Coach Johnny Jones indicated in his Friday post-game press conference that senior Josh Gray, out of the opener because of a summer non-sanctioned appearance, would be “full go” for Monday.The Legends Classic brings together eight teams for the ninth annual event with N.C. State, Marquette, Arizona State and LSU the regional hosts. The four host teams advance to the championship round on Nov. 23-24 at the Barclays Center in Brooklyn. The other four teams – Belmont, IUPUI, Kennesaw State and South Alabama (LSU’s opponent on Thursday night) will participate in the Subregional Round held in Kennesaw, Georgia, also on Nov. 23-24.LSU will meet Marquette on ESPN2 and the LSU Sports Radio Network on Nov. 23 at 6 p.m. CT in Brooklyn and LSU will face either N.C. State or Arizona State on Nov. 24 at either 4:30 or 7 p.m. CT. This is the fourth year the Legends Classic will be played at the Barclays Center.
Kit Harington as Jon Snow and Emilia Clarke as Daenerys Targaryen; Helen Sloane/HBOIt’s the beginning of the end when Game of Thrones kicks off its eighth and final season April 14, and HBO’s continued counting down to the premiere by releasing three new teaser videos.The first, simply titled “Together,” kicks off with Peter Dinklage’s Tyrion Lannister warning, “We must fight together now, or die,” as Kit Harington’s Jon Snow and Emilia Clarke’s Daenerys Targaryen are seen riding side-by-side-on horseback. “Our enemy doesn’t tire. It doesn’t stop. They’re coming,” says Jon Snow, as we see the hooves of a White Walker horse in the snow, with the Stark ancestral home of Winterfell in the distance. The clip then ends with a blast of fire from one of Daenerys’ dragons.The second video, titled “Survival,” begins with the voice of Samwell Tarly, played by John Bradley, solemnly reflecting: “Think back to where we started. Now it’s just us.” Following scenes of dragons soaring over Winterfell and people preparing for battle — and could that be the formerly disgraced Theon Greyjoy, now commanding the Iron Fleet? — Jaime Lannister, played by Nikolaj Coster-Waldau, assesses the increasingly more dire situation and concludes, “This goes beyond loyalty. This is about survival.”The final clip, titled “Aftermath,” contains no dialogue and is laden with symbolism. It shows scenes of an empty, apparently defeated Winterfell, with various items lying abandoned and scattered in the snow. We see a tattered Stark banner; Tyrion Lannister’s Hand of the Queen pin; Arya Stark’s sword, Needle; a feather blown by the wind off of a battlement, which comes to rest upon the remnants of Bran Stark’s smashed wheelchair; Jaime Lannister’s gold, artificial hand; Daenerys’s Targaryen’s dragon chain; and finally, Jon Snow’s sword, Longclaw, lying in a snowdrift as in the far distance, an indistinct figure that looks an awful lot like the Night King strides through Winterfell’s front gate.Take that last promo with a generous dose of skepticism, though: Game of Thrones producers have shown many times how much they love to tease possible outcomes, not actual ones. Any fan knows Winterfell’s definitely in for a beating, no batter who wins the promised epic battle against the Night King’s army of the dead.The eighth and final season of Game of Thrones debuts Sunday, April 14 on HBO.Copyright © 2019, ABC Radio. All rights reserved.
The college gathered more than 200 thoughts during the process that posed the question: Please explain, in as much detail as you like, how you feel about the name Selkirk College Saints and team’s logo and colours.“We received a broad range of feedback and we appreciate every person who took the time to get involved in the process,” Kincaid says. “It was quite evident that our community cares very much about Selkirk College and Saints athletics. We are excited to maintain our strong connection to our past while forging ahead with a refreshed logo.”Selkirk College currently has one varsity team with student-athletes competing in the British Columbia Intercollegiate Hockey League (BCIHL). When the team opens the regular season in October, players will be wearing a newly designed crest on the fronts of their jerseys. The new look prominently features the mountains that are a geographical symbol of life in the Selkirk College region.“It’s a great new look, the players are going to be proud to pull that jersey over their heads and play for the crest on the front,” says Kim Verigin, Selkirk College’s Department Head for Athletics, Recreation & Student Life. “We will stick with the colours that have come to represent excellence in the BCIHL, but the new logo really reflects our connection to the West Kootenay and Boundary region.”The Saints will unveil their new jerseys when classes resume in September and the BCIHL regular season gets underway in October.Learn more about Selkirk College athletics and recreation at: selkirk.ca/athletics. A fresh look for Selkirk College athletics reflects the rugged beauty of the region while maintaining an important connection to post-secondary history.Earlier this year, the college reached out to students, employees, alumni and community members about the Selkirk College Saints look, logo and name. Through online input and commenting via Rossland-based ThoughtExchange, it was clear that the name Saints should remain in place and a new logo would be welcomed.“This college is part of the fabric of our community and the athletic program is an important element of what we offer to the region,” says Selkirk College Vice President of Students & Advancement John Kincaid. “The outreach has helped determine that many people place high value on the Saints name and the historical connection to the many athletic teams that have proudly represented Selkirk College over the last five decades.”
BAYERN MUNICH have denied Mats Hummels will leave next month amid speculation his agent is in talks with Chelsea and Tottenham.The German international is out of favour under new manager Niko Kovac with reports claiming he wants out of the club.3 Chelsea and Spurs’ hopes of signing Mats Hummels have been dashedCredit: GettyBild said his agent, Marc Kosicke, travelled to London recently to discuss a switch to the Premier League giants.However, the 30-year-old is going nowhere after Bayern chief Karl-Heinz Rummenigge denied they were looking to sell the centre-half.He said: “We had a conversation with Mats a few days ago and he will play for Bayern Munich in the second half of the season.”And the Bundesliga side’s sporting director Hasan Salihamidzic also insisted talks went well with the defender.3 Karl-Heinz Rummenigge insists the defender is going nowhere next monthCredit: AFP3 Reports claimed the defender’s agent had been in London for talks with the Prem duoCredit: GettyHe added: “We talked to Mats, it was a good conversation.“Mats feels very well in Munich, and if a player does not always play, it’s clear that there are discussions.WE WON’T MICH YOU Chelsea may have ANOTHER flop striker with ace close to return“Mats wanted to talk to us. We explained our point of view to him and he explained his point of view.“I think that we came to a common denominator.”LATEST CHELSEA TRANSFER NEWSRacing TipsHOT OFF THE PRESSDon’t miss The Sun’s each-way thief and NAPs for today right hereDEIDRE’S CLASSIC PHOTO CASEBOOKSingle mum Penny avoids telling her date about baby PoppyMYSTIC MEGJuly 27: Passion is full-on and might ask a lot of you - but is worth the effortMIXED DOUBLESTennis legends Boris Becker and Bjorn Borg set sail with partners in IbizaHIT & RUN ‘MURDER’Woman, 38, ‘killed in hit & run’ after getting into van as man arrestedBLADE SHUNNERSAshley Banjo reveals Dancing On Ice could ditch studio audience in 2021Bayern managed to close the gap on leaders Dortmund to six points this week after securing a 1-0 win at RB Leipzig.Hummels, who has two years remaining on his deal, actually started for the reigning champs and the clean sheet will have only helped his cause to get his spot.Bayern face Eintracht Frankfurt on Saturday in their final match of 2018 before the winter break.Chelsea legend is now a hipster DJ playing at a club night in trendy East LondonHE used to be famed for leaving defenders in a spin, so what Pat Nevin did after football must’ve come natural.The Chelsea and Everton legend, who bamboozled all with his tricky wing play in the 80s and 90s is now a DJ playing for hipster crowds in London.Nevin, 55, has a regular spot playing at The Victoria in Dalston at a trendy club night called Scared to Dance, which was previously at the Shacklewell Arms.He’s also appeared at the 2015 Shiiine On Weekender festival alongside the likes of Happy Mondays playing tracks by indie artists including The Smiths, Pulp and New Order.Busy Nevin manages to juggle his new career alongside his football commitments, working as a pundit for BBC Radio 5 Live.He revealed how he first caught the music bug.Click here to read more.
FRISCO, Texas – New Orleans freshman guard Randi Brown has been named Southland Conference Women’s Basketball Player of the Week, the league office announced Sunday. Each school’s sports information director nominates and votes for the players of the week, though is not permitted to vote for his or her own player. Brown found her grove to end the season, starting with tying a career-high in the home finale against Southeastern on Thursday. Brown went for another 30 points, a mark she accomplished first against the same Lady Lions two weeks earlier. Brown grabbed five rebounds, four steals, and three assists in Thursday’s game. On Saturday, Brown turned it up in the second half against Northwestern State. With the Privateers trailing by as many as 10, Brown went to work going 6-for-8 from the field in the final 20 minutes of play and scoring 15 points to help New Orleans close the season on a four-game winning streak. Brown scored 159 points (26.5 per game) over the final six games and the Privateers were 5-1 in that stretch. Honorable mention this week goes to Houston Baptist senior forward Erin McGarrachan, Lamar junior guard Addesha Collins and Stephen F. Austin senior center Porsha Roberts. To receive honorable mention, a player must receive votes from 25 percent of the Southland women’s basketball sports information directors.
When Jen Richard was tasked with building a case for DVR camera system installations in Canadian retailer West 49 stores in 2010, she took the challenge and rallied the stores. This article illustrates how Richard was able to prove the ROI and tremendous benefits of the technology to senior management.When I first joined West 49, I was tasked with building a resource protection (RP) department from the ground up right out of the gate. In the first year, I started pulling together an RP team that would provide support to the stores and established the core department functions.Among the many issues that needed attention, following were some of the key initiatives we started with:- Sponsor – • Development of an RP reporting deck with our IT department • Launch of a whistleblower-type hotline in collaboration with human resources, • Update of the company policy-and-procedure manual, • Establishment of basic prevention training to be incorporated into the new-hire induction program, • Launch of a store audit and target store program for high-risk locations, and • Building a case for DVR camera system installations in stores across the country. While all of these initiatives were important, deployment of DVR camera systems was one of the most important and is the primary focus of this article.Establishing ROIIn the first year I was given capital to deploy five DVR camera system installations. This doesn’t sound like much, but it was my opportunity to show our company’s senior management the tremendous benefits of this technology.After the first year, leveraging the system for conducting internal investigations, having the public-view monitors as a shoplifting deterrent, and showing how dramatically the shrink results had improved got me a few more installations approved for the second year. Another successful year proved the return on investment (ROI), and it was at this point that I gained full buy-in from top executives, which meant DVR camera systems were incorporated as a “standard” in the construction model for every future new store, relocation, and renovation. This was a big win, and I was able to get continued funding for DVR deployment in the high-risk, target store locations.We rallied the stores to wage war against their shrink. We gave them a specific store strategy each year, and it worked. In 2010, we achieved the lowest shrink result in over seven years—36 percent lower than the reported average for the men’s and women’s apparel segments.Adding AnalyticsBetween 2009 and 2010, the company upgraded the merchandising and POS system to JDA software. This change triggered a shift in our organization because JDA immediately enhanced our data visibility and allowed us to optimize our business processes. The merchandise and planning side of our business was able to manage inventory more effectively and run more effective promotions. It was like the light was switched on for a lot of people, and we experienced a culture shift where information in real time became king. JDA created an opportunity for cross-functional teams to work together, and the value in that is truly appreciated. We have been working together to maximize every opportunity.Interdepartmental collaboration is key. You must build a business case that demonstrates ROI beyond the LP benefits. Any time technology spending can be leveraged for multiple areas of the business, it gets attention and support. My best tip for anyone trying to achieve buy-in for the technology you wish to implement is to provide an overview of the key business benefits to a wider audience. Provide operations, marketing and advertising, IT, and merchandise planning executives with specific examples that clearly demonstrate how the system can be used to impact sales, gross margin, and operational controls. Having the kind of headspace the new POS system provided meant the timing was right for our company to leverage video analytics. I knew that DVR camera systems went way beyond the benefits for theft prevention and investigation; that the system could provide valuable business insights to our organization. The goal became to update our DVR camera systems to include video analytics with the help of vendor-partner i3 International.When Bill Prentice from Checkpoint and Vy Hoang and Brent Humphrey from i3 International joined me to introduce the capabilities of DVR analytics to these other areas of the business, we didn’t talk about the LP benefits. Instead, LP was more like a footnote in that conversation. We discussed the sorts of information that these other business areas would be most interested in.Targeting the benefits of this system for multiple departments helps get the buy-in from executives, and also helps elevate the perception of LP within the organization by showing that LP is a business operations group that gives information that provides valuable insight into the business and helps make the company more profitable. By 2011, 37 of our 134 stores had DVR camera systems, 20 of which were i3 systems.Key Business Benefits of Video AnalyticsThere are a number of important benefits that can be derived throughout the organization from implementing DVR camera system analytics. Following are some of the highlights by business area.Store Operations. The traffic-conversion aspect of DVR analytics was our initial focus because it is the quickest win; it is easy to support operations with the implementation and a clear ROI will be simple to calculate.In the long term and with POS integration, we had the opportunity to leverage the DVR camera system analytics as a multi-dimensional retail tool (MDRT). I borrowed this term from my colleague and friend, Andrew Buchanan at Mark’s Work Wearhouse. It’s been a great way to convey DVR benefits to all of the department silos within our retail team.People Counting. Store operations could leverage people count aspect of video analytics for traffic-conversion data. The data helped to identify, confirm, and improve what we know about proper sales floor coverage and employee productivity. A new metric could be added to our arsenal of sales KPIs thanks to this tool, which enabled the store operations team to drive sales and maximize their payroll budgets.In the past, we knew sales for each store, but we had no idea how many customers came in and did not make a purchase. With traffic conversion, we can challenge store performance levels and make necessary changes to improve sales-conversion percentages.One of the primary benefits of the analytics software is that it is smart enough to know the difference between harmless motion, such as a poster swaying, and threatening motions, such as a person approaching a secure area. From a traffic-counting standpoint, it distinguishes the direction of human movement, which allows us to have a clean customer traffic count of those who entered our store, without falsely including the exit of the customer to our count, which can happen with traditional beam-sensor technology.We can also use video to demonstrate the service behavior that works versus the behavior that shows opportunity for improvement. For days where conversion is low, we can spot-check customer service and provide JPEG photos or video segments to demonstrate that• Service was great, but the product didn’t compel the customer to buy today, or • Service was not optimal and therefore impacted the customer’s shopping experience at our store.These real store examples make a huge impact on building associate training, customer awareness, and positive selling behaviors.Dwell Time. With the POS integration, operations could leverage human recognition aspect of video analytics to assess customer dwell time and sales conversion by department. For example, in our shoe department, if we confirmed the number of customers visiting that section, how long the customers linger, and compare that to our shoe sales at the register, then we could confirm if our conversion rate was good, or if adding better sales coverage in the department would help increase shoe department sales at the register.In another example, we could leverage dwell-time information to determine how long customers had to wait in line before they were cashed out.We could also tie the DVR traffic information into our updated time-and-attendance system. With the completion of the HR system update, we had the ability to layer traffic count into its scheduling function. The traffic conversion data helps to define the store schedule, even to the level of identifying which departments require a focused coverage based on the dwell-time information.Marketing and Advertising. In the short term, marketing and advertising could leverage people count aspect of video analytics to confirm if their campaigns resulted in a lift in foot traffic. Marketing and advertising want to confirm if there was a spike in traffic and/or sales after an advertisement is run to determine whether or not a particular marketing campaign pays off.They are also interested in using basic traffic conversions to determine if television, radio, or billboard campaigns had any impact on the volume of customer traffic to a specific region or during a specific time period. Today, they can only rely on sales data to confirm if their campaign was a success. However, sales results alone are not a true or complete measurement for their success. They may have successfully increased foot traffic to the location; however, there may not have been a significant sales lift because allocation levels were poor or customer service was poor.These factors are a concern to our business, but the lift in traffic to the store tells us that a marketing campaign was actually a success. In the long term and with POS integration to our DVR software, marketing and advertising could leverage human recognition aspect of video analytics to assess customer dwell time and sales conversion by department. This enabled them to confirm that their marketing campaign did impact customer traffic and flow to the area of promotional focus within the store and that the customers shopping in those areas converted to additional sales at the register.Merchandising and Planning. In the long term, planning and visual merchandising groups could leverage human recognition aspect of video analytics to see where customers are going in the store and how long they are staying in at fixtures, tables, and specific areas of the store. They can use dwell-time analytics to guide higher margin goods to the fixtures or areas of the store where customers spend the majority of their time.This benefit will take longer to coordinate and establish parameters for reporting so that decisions to remerchandise can be made quickly to impact sales. What may be the end result is a proven footprint of fixture placement for high-margin goods in our stores. This had a potential influence on the type of visual displays we created, could confirm if hanging or folding product is more effective in getting customers to linger longer, and could identify what is attracting them to the area. If we weren’t converting in certain areas, we could determine the reason why, such as price point, sizes, color options, customer service, or other issues.Resource Protection. In the short term, video analytics allowed us to identify and investigate issues quickly, which increased our recoveries and reduce ongoing loss. Another benefit is the ability to detect possible training deficiencies before the mistakes get out of hand. We could also use the missing-object capabilities of DVR analytics on our high-ticket items, such as watches, sunglasses, and headphones.In the long term and with POS integration to our DVR software, our resource protection organization could also leverage human recognition to set up specific areas for heat-mapping detection, which flags transactions where the customer is not present. We could also leverage POS text overlay to help identify issues with employee collusion, such as free-bagging, where more product is passed off to an accomplice than is rung through the register. This type of theft is a huge risk in our retail environment.Applying Traffic Counting AnalyticsThere are three key components in traffic intelligence:1. The number of customers who visit the store (TRAFFIC) 2. The number who buy (CONVERSION RATIO ) 3. The amount of money they spend (AVERAGE TRANSACTION VALUE).If looking for a total sales increase, one of these components must increase. We cannot change what we cannot measure, so leveraging traffic-count data means we can accurately measure what components increased and the size of the opportunity.Traffic counters and analytics alone do not increase sales. The information provided by DVR camera system analytics must drive strategic actions that result in increased sales. Our store operations group planned to take actions such as:• Incorporating the traffic-conversion data into the daily store sales reports to district managers, • Including the data into weekly store calls and executive summaries, • Tying traffic conversion KPIs into monthly management bonus program, and • Addressing poor conversion results and leveraging DVR camera system footage to identify performance issues at the specific time a dip in conversion occurred, such as observing employees tasking rather than approaching customers.In the one-store example above, 2 percent conversion lift means the potential top-line sales increase at this location is $250,826. That’s a potential 10.9 percent increase in sales. From a traffic-conversion standpoint, this works out to be approximately seven more customers serviced per day. To determine the net gain for this store location, we must take the gross profit increase to the bottom line and subtract the total incremental costs. The incremental costs would include:• Additional payroll due to sales increase, • Incentive payouts ($ for MAX payouts), • Cost of stock (% GM), and • Cost of DVR program for the location.When we started out with 37 of our stores, we estimated our potential net gain from this strategy to be $3.1 million in the first year of deployment. In a worse-case scenario, where we were only able to achieve a 1 percent lift in traffic conversion, it would still represent a $1.2 million net gain for our company.That’s an amazing prospect when you consider this value is coming from DVR camera system technology that is traditionally considered “loss prevention technology.” It totally changes the kind of value that loss prevention can bring to the entire organization. To me, it’s a no-brainer that this approach, with this technology, is a win-win.About West 49 Inc.West 49 Inc. is a Canadian multi-banner specialty retailer of apparel, footwear, accessories, and equipment related to skateboarding, snowboarding, and surfing, as well as the music industry. The company’s stores, which are primarily mall-based, carry a variety of high-performance, premium brand name, and private-label products that fulfill the lifestyle needs of identified target markets, primarily active tweens and teens.SIDEBAR: West 49 Resource Protection Department Core FunctionsTraining—Target store program; e-learning series on external theft, internal theft, and shrink management; WebEx-hosted employee training workshops; newsletters; recognition-rewards program; store audits; integrity shopping program.Investigation—Theft; refund fraud; discount abuse; misuse of petty cash; cash over or short; missing deposits; gift-card fraud; payroll fraud; sweethearting. Use of DVRs—Internal investigations; shoplifting and organized groups; video audit of bag check; fitting room control; customer service.Compliance—Store policy-and-procedure compliance; execution of store operational controls; ensuring legislative and legal compliance; privacy legislation; stewardship programs; PCI compliance.Store Services—Supporting stores with incidents that are reported; handling requests for RP systems and equipment; electronic article tagging systems; digital video recorders; fire inspections and prevention; alarm updates; keys; coordination of security requirements for new stores, relocations, and expansions. Stay UpdatedGet critical information for loss prevention professionals, security and retail management delivered right to your inbox. Sign up now
HomeDigital MarketingFacebook lost 15 million users? Marketers remain unfazed Posted on 9th March 2019Digital Marketing FacebookshareTwittertweetGoogle+share Facebook lost 15 million users? Marketers remain unfazedYou are here: Related postsLytics now integrates with Google Marketing Platform to enable customer data-informed campaigns14th December 2019The California Consumer Privacy Act goes live in a few short weeks — Are you ready?14th December 2019ML 2019121313th December 2019Global email benchmark report finds email isn’t dead – it’s essential13th December 20192019 benchmark report: brand vs. non-brand traffic in Google Shopping12th December 2019Keep your LinkedIn advertising strategy focused in 202012th December 2019 Source: Edison Research 2019Facebook has lost an estimated 15 million users in the U.S. during the last two years, according to a report from Edison Research. The firm’s “The Infinite Dial 2019,” surveyed 1,500 U.S. citizens age 12-years and older and found that Facebook usage overall has dropped from 67 percent to 61 percent in two year’s time, with the 12 to 34-years age segment down from 82 million in 2017 to 65 million this year.Twitter usage is also on a downward slope, going from 23 percent to 19 percent between 2017 and 2019. The report found, overall, social media use has stagnated since 2016, with the number of respondents claiming to be on social remaining around 77 to 80 percent for the past three years. But social media marketing experts said they’re not seeing any impact from declining social media use.People aren’t leaving social, just shifting platforms. While the report showed Facebook users numbers were dropping, Facebook-owned Instagram is experiencing a steady rise. Instagram’s audience reach is still much smaller than Facebook’s, but Edison’s survey found Instagram usage has climbed from 34 percent in 2017 to 39 percent.Steve Weiss, CEO of digital marketing agency MuteSix, said he doesn’t believe Facebook users are leaving, but instead the current user base is simply aging.“While the younger demographics may be shifting to Instagram and Snapchat, Facebook is also seeing increased gains from the 55+ segment. In other words, users aren’t exactly leaving, they are simply shifting,” said Weiss. According to Edison’s report, the 55+ age segment of respondents were the only group whose Facebook usage had increase since 2017.Yuval Ben-Itzhak, CEO of social media marketing platform Socialbakers, said his company doesn’t have any data indicating a drop in Facebook user numbers.“In Q4, Facebook reported an increase,” said Ben-Itzhak, “As for Twitter, they have stopped reporting on users which could mean users did not grow.”Ben Heiser, a content strategist for the Drum Agency, agrees with Weiss in terms of Facebook versus Instagram user numbers.“Everyone likes to take shots at Facebook usage being down as the end of social media as we know it, but social media is more of a media channel now than ever before. Facebook has global saturation at this point and active users are just switching over to Instagram, which Facebook owns,” said Heiser.“Here’s the thing – surveys are always skewing perception towards something. One survey cites the 15 million loss in young Facebook users as their rallying cry to jump to audio. However, if you look at the actual numbers, not survey results, Facebook reported that there were 1.52 billion daily active users in Q4, an increase of nine-percent year-over-year.”Facebook advertising still delivering. Weiss said his ad agency is not seeing an impact from any drops in usage. He believes the Facebook’s Stories ad product, which the company rolled out in the News Feed last year, will drive more advertising on the platform.“With Facebook’s continued investment in analytics across all its platforms, we also expect to see advanced engagement metrics for Stories, which will ultimately boost bottom-line revenue for Facebook,” said Weiss.He is confident Instagram advertising revenue will continue to climb, also spurred by Story ads.“As a matter of fact, advertising revenues on Instagram’s Stories are projected to increase as early studies demonstrate brands can expect to see higher ad recall and click-through rates than from previous ads that were posted on the Instagram feed,” said Weiss.And then there’s WhatsApp. Edison Research’s survey did not include historical usage data on WhatsApp, the encrypted messaging app owned by platform, but did show 23 percent of the survey participants age 12 to 34 years old were using it this year.“While Facebook doesn’t report on individual app growth regularly, you can easily infer that the growth is happening on WhatsApp and Instagram, which cater and are heavily used by a younger target,” said Heiser.Facebook has been making subtle moves to get more people on WhatsApp — announcing in January that it plans to integrate its WhatsApp, Instagram and Facebook Messenger platforms, making it possible for users to communicate between the three apps. Facebook also said it is planning to roll-out WhatsApp ads this year.Why you should care. While the Edison Research may show declining user numbers, a loss of 15 million users on Facebook may not amount to much for a platform that has 1.5 billion daily active users. And recent reports show advertisers are ahead of the curve with Instagram, with lifts in incremental ad spending from loyal advertisers driving ad spend growth on the platform — money that is still going into Facebook’s pocket.As Heiser noted, Facebook’s most recent earnings report isn’t showing any major impact from a drop in usage with ad revenue climbing to $16.6 billion during the fourth quarter of 2018. In fact, the company reported the average price of an ad decreased 2 percent, while ad impressions were up 34 percent. Twitter also saw increased ad revenue during the last quarter of 2018, up 23 percent year-over-year.Overall, marketers shouldn’t make any knee-jerk reactions when it comes to their social media strategy based on one survey, marketers say.“If you’re planning to use media, you shouldn’t be a fan of one or the other. The focus should be where your audience is most engaged: is it podcast? Instagram? Facebook? If so, that’s where you need to be,” said Heiser.The post Facebook lost 15 million users? Marketers remain unfazed appeared first on Marketing Land.From our sponsors: Facebook lost 15 million users? Marketers remain unfazed