There’s a lot to sink your teeth into in this week’s roundup, including news about mobile commerce, marketing budgets, GDPR and more.
The Internet Statistics Compendium is also ready and waiting as always.
Now, let’s hop to it.
Marketers say 26% of their budget will be wasted in 2018
A new study by Rakuten – which is taken from a survey of over 1,000 marketers from the US, UK, France, Germany and Asia-Pacific (APAC) regions – has revealed that marketers will waste on average 26% of their budget in 2018 on the wrong channels or strategies.
From its analysis, Rakuten has also identified four key profiles of UK marketers. First, 12% of marketers are defined as ‘architects’ – experienced data analysts who predict 18% of total budget will be wasted. In contrast, 49% of UK marketers are known as ‘advancers’ – this group chases new channels and outlets for campaigns, with 36% actively looking to invest in voice and 28% pursuing VR.
Meanwhile, Rakuten suggests that 31% of UK marketers are ‘advocates’ – old school networkers, of which 56% are planning investment in video but just 5% have still have faith in influencers. Lastly, 9% of UK marketers are ‘adapters’ – marketing optimisation specialists, who strive to keep campaigns constant throughout the year.
Mobile devices responsible for 60% of all video views worldwide
According to Ooyala’s latest Global Video Index Report, mobile video plays reached 60% globally for the first time in the fourth quarter of 2017, garnering a 60.3% share of all video starts.
The report also states that Europe, Middle East and Africa (EMEA) saw the greatest level of engagement at 63.5%. Meanwhile, North America saw 57.6% engagement, despite also seeing mobile video jump 11% from Q4 2016.
Alongside this increase in mobile video viewing, there has also been a significant growth in mobile advertising. Ooyala also states that smartphones topped PCs for the percentage of pre-roll ad impressions shown on broadcaster platforms (55% vs. 36%).
More on video trends:
- Five examples of brands using interactive video
- Six ways ‘boring’ B2B brands stole A+ social video from B2C
- Four ways marketers can increase conversions from social video
Snapchat users 300% more likely to shop on mobile
Criteo’s latest report has revealed a link between social media platforms and consumers’ willingness to shop via mobile.
From a survey of 2,000 UK consumers, it found that Snapchat users are up to 300% more likely to buy items on their phone compared to the average Brit. That’s not all, as they are also said to spend more – 33% of Snapchat users say they are happy to spend over £100 when shopping on mobile.
Perhaps it’s more to do with Snapchat’s younger demographic rather than any direct link to the platform itself. The report also suggests that one in five 25 to 34 year olds are happy to spend more than £250 on their smartphone. Meanwhile, 6% of the population overall prefer shopping on their smartphone.
Lastly, it appears younger consumers are even more spend-happy. Criteo states that one in ten 18 to 24-year olds would purchase a car on their smartphone, while one in ten 18 to 34 year olds prefer to book flights on their mobile rather than desktop.
More on mobile commerce:
- A UX review of Etsy, the most user-friendly mobile website according to Google
- Are retail brands ditching mobile apps? A look at some stats & case studies
B2B marketers still unprepared for GDPR
It seems a day can’t go by without another GDPR-related survey (of course, Econsultancy has the definitive guide for marketers). This one comes from Forrester, which surveyed 66 US marketing professionals for its latest report on the topic.
The poll revealed that just 15% of B2B marketers believe they are fully compliant with the new regulations, while 18% are still unsure what needs to be done.
Even though GDPR applies to any global marketer that collects data from EU citizens, many are still wrongly under the impression that the new rules do not apply to businesses with headquarters outside of Europe.
It’s not all doom and gloom, however. Forrester also found that 39% of US marketers plan to be compliant within 12 months, while another 23% are at least partially compliant already.
You’ll find all the GDPR information you need right here.
Data protection is the key to consumer trust
In other data news, a report by the MRS Delphi group has revealed that data security is the first and most important driver of trust in brands.
From a survey of over 1,000 UK consumers, it found that respondents placed data security at number one for trust in six of seven sectors. Meanwhile, good customer service was ranked as the third biggest driver of trust, and brands “doing what they say” was ranked second. In all, three of the top five trust-drivers were related to data.
Interestingly, respondents cited Amazon as their number one trusted brand, despite the retailer heavily relying on consumer data. However, its level of transparency, and the value exchange it provides is clearly enough to reassure customers and inspire loyalty.
More on consumer trust:
- How can brands combat a lack of consumer trust?
- The changing face of consumer trust and the implications for marketers
- Four key traits of ‘human’ brands
Digital ads found to raise brand awareness
In a bid to understand the level of effectiveness of digital display advertising campaigns, IAB UK studied the results of 675 individual campaigns from 2008 through to 2017.
It measured the effectiveness for four main marketing objectives – awareness, brand perception, education, and sales intent across each campaign.
Analysis proved that digital display advertising is effective across all metrics, raising brand awareness by up to 12%, positively shifting brand perceptions by 2%, educating people about a brand by 2%, and driving purchase intent by 3%.
Interestingly, some campaigns were found to increase brand metrics by as much as 55%, showing the huge opportunity digital display ads can provide.
More on digital ads: