With snow hitting UK shores this week, it’s a wonder we’ve found the time to think about anything other than the cold. But what do you know, we’ve just about managed…
So, let’s delve into what else has been happening, specifically in the wonderful world of digital marketing.
This week’s roundup includes news about open banking, customer data, YouTube, and paid ads. For more, don’t forget to check out the Internet Statistics Compendium.
Nearly 90% of consumers willing to give up personal data
An Episerver survey of over 4,000 global consumers has revealed that 87% of people are willing to give up their personal data in exchange for a better online experience.
However, it seems there is still a disconnect between these expectations and the digital capabilities of brands. Interestingly, over a third of respondents reported feeling that brands simply don’t care about personalising their online shopping experience, with incorrect or incomplete content having dissuaded 95% of online shoppers from completing a purchase in the past.
Episerver also found that consumers are increasingly open to new technologies, with over a third of shoppers previously trying functions like smart mirrors and drone delivery, and nearly 90% saying they would do so again.
More on personalisation and data privacy:
- How to build a personalisation strategy for your content website
- What’s the difference between AI-powered personalisation and more basic segmentation?
- GDPR resources
- GDPR online training
Disparity on YouTube looms large
A new study for Bloomberg News has highlighted inequality on YouTube, revealing that the majority of creators will fail to make a living from the platform. Analysis by Mathias Bärtl found that the top 1% of creators generated between 2.2m and 42.2m views a month in 2016, guaranteeing significant ad revenue and supporting other earnings such as brand sponsorship deals.
However, in stark contrast, the top 3% (which correlates to over 1.4m monthly views) will draw an advertising income of around $16,800 a year. This means that even creators with large audiences and substantial views are still required to work full-time jobs in order to support themselves.
With social media and the role of ‘influencers’ becoming desirable career options for youngsters, the study shines an interesting light on the reality of YouTube.
More on influencers:
- Are virtual stars the next step for influencer marketing?
- Is the influencer marketing bubble set to burst?
- Five brands putting employees at the heart of their influencer strategy
Time spent with ad-supported media declines in the US
PQ Media’s Global Consumer Media Usage Forecast has revealed that – while US consumer media usage and exposure rose in 2017 – time spent with ad-supported media declined.
Digital media usage and exposure accounted for 37.4% of all consumer time spent with media, with mobile audio being the fastest-growing digital channel. Time spent with mobile audio (i.e. listening to streaming services like Spotify) increased by a whopping 30% throughout the year.
Despite this rise, the share of time spent with ad-supported media declined – falling to 44.4%. On the back of this, PQ Media expects this to deteriorate even further to 42.5% by 2021.
Social is the most popular method of paid advertising for UK travel sector
According to the latest benchmark report from Marin, social has now overtaken search as the most popular method of paid advertising within the travel sector.
From a survey, it found that UK travel advertisers anticipate spending 42% of their paid social budget on Facebook in 2018. Meanwhile, 53% of UK respondents cited the performance of social compared to other forms of advertising as their greatest challenge this year.
Lastly, it also revealed that travel advertisers are not particularly fazed by the threat of Amazon’s digital ad options, with 47% of travel advertisers seeing it as a ‘channel that won’t impact their business’ in 2018.
More on the travel sector:
- Eight examples of top-notch copywriting from travel brands
- Four big digital trends impacting travel & tourism marketing
Open Banking expected to contribute over £1 billion annually to UK economy
Trustpilot has revealed the results of a new study that suggests Open Banking could unlock over £1 billion for the UK on an annual basis, supporting approximately 17,000 new jobs for the economy.
This is because the new regulations will increase competition as an excess of new fintech companies are able to access the data necessary to provide new services.
That being said, other research from Accenture suggests that this all depends on consumer trust, as 69% of people may not consent to share their banking data with third-parties. As a result, values such transparency will become even more critical to winning the trust of customers.
More on Open Banking:
- How will Open Banking affect UX?
- Fintechs and banks to partner in 2018 thanks to Open Banking
- Banks set to release money management apps as UX change spurred by Open Banking
Marketers are failing to recognise the impact of dark social
Econsultancy’s Marketing in the Dark report suggest that the majority of marketers are failing to take dark social seriously, with just 4% regarding it as a top-three challenge for 2018.
Elsewhere, the report also highlights how 39% of leading companies agree that they can attribute value to dark social compared to just 21% of mainstream companies. This proves that marketers who do not recognise the impact of dark social run the risk of lagging behind.
Mobile ads have greater sales impact on video-on-demand users
Ads that are viewed on mobile devices generate an overall positive sales impact for brands, according to new research for ThinkTV. This comes from a comparison of the attention generated by video ads on different channels, on over 2,500 consumers in Australia.
It found that the impact on users of BVOD (broadcaster video-on-demand services) on mobile devices is 33% higher than Facebook and 17.5% higher than YouTube.
As well as greater sales impact, BVOD also generated greater levels of attention. From a score out of 100 (based on eye-tracking technology), BVOD scored 63 points, compared to 54 for Facebook and 19 for YouTube. This suggests that on-demand streaming platforms are now second to television in terms of the opportunity for consumer reach.