tag:econsultancy.com,2008:/topics/skills-capabilities Latest Skills & capabilities content from Econsultancy 2017-06-08T11:00:00+01:00 tag:econsultancy.com,2008:Report/4502 2017-06-08T11:00:00+01:00 2017-06-08T11:00:00+01:00 Digital Transformation in the Financial Services and Insurance Sector <p>The<strong> Digital Transformation in the FSI Sector: Gearing up for success in a changing market</strong> report builds on our <a href="https://www.econsultancy.com/reports/digital-transformation-in-the-financial-services-sector-2016">previous report</a> looking at digital transformation in the sector. The report aims to explore the approaches new entrants are taking and their focus on the customer experience and marketers' responses to challenges, as well as providing recommendations on approaches to and opportunities related to digital transformation.</p> <h2>Methodology</h2> <p>We carried out a series of in-depth interviews with senior executives from across the financial services and insurance industries to understand how a range of organisations were responding to different opportunities and challenges.</p> <p>Companies interviewed included: The AA, Atom Bank, Aviva, AXA PPP Healthcare, Bought By Many, Lloyds Banking Group, Monzo, National Australia Bank, OCBC Bank, HSBC Singapore, Salesforce and UBS Wealth Management, APAC.</p> <p>We also looked at sector-specific data from our <a href="https://www.econsultancy.com/reports/2017-digital-trends-in-financial-services-and-insurance">2017 Digital Trends in Financial Services and Insurance sector</a>.</p> <h2>What you'll learn</h2> <p>The financial services industry has seen more disruption in the last few years and continues to face significant challenges as new players are seizing the opportunity to enter these markets and new models emerge.</p> <ul> <li>Customer experience continues to be a major focus for marketers and new entrants are focusing on differentiating the customer experience and making the financial lives of customers easy.</li> <li>Having the right strategy and culture to deliver digital transformation is seen as essential with strong leadership from the top.</li> <li>Data is perceived as being a huge part of the digital transformation journey.</li> </ul> <h2>You'll discover findings around:</h2> <ul> <li>How companies are looking to differentiate the customer experience and deliver value to their customers.</li> <li>Ways in which companies are re-orientating their focus around customers and moving away from being product-focused to putting the customer first and delivering products and services more aligned to their needs.</li> <li>The importance of earning trust in the sector and delivering more transparent services to customers.</li> <li>Practices companies are adopting to work in a more agile way. </li> <li>Encouraging a digital culture where digital is not a bolt on. </li> <li>Unlocking the value of data to understand customer journeys and behaviour to deliver more personalised and relevant communications.</li> <li>Importance of innovation starting with the customer and how companies are collaborating and partnering to drive change. </li> </ul> <p>Download a copy of the report to learn more.</p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <h2>How we can help you</h2> <h2 style="font-weight: normal; color: #3c3c3c;"><a style="color: #2976b2; text-decoration: none;" href="https://econsultancy.com/training/digital-transformation" target="_self"><img style="font-style: italic; height: auto; float: right;" src="https://assets.econsultancy.com/images/resized/0004/8296/rgb_dt_logo-blog-third.png" alt="Digital Transformation" width="200" height="66"></a></h2> <p><a title="Digital transformation - Econsultancy" href="https://econsultancy.com/training/digital-transformation/">Digital transformation</a> is a journey that's different for every organisation. To enable delivery of your digital vision (or help you shape that vision) we’ve designed a comprehensive approach to tackle your transformation.</p> <p>Covering everything from strategic operational issues, down to specific marketing functions, we will work with you to achieve digital excellence.</p> <p>Talk to us about an initial, no-cost consultation.</p> <p>Contact our Digital Transformation Team on <a href="mailto:transformation@econsultancy.com">transformation@econsultancy.com</a> or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>APAC: +65 6653 1911</li> <li>Americas: +1 212 971-0630</li> </ul> <p><iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> tag:econsultancy.com,2008:WebinarEvent/877 2017-06-06T10:37:13+01:00 2017-06-06T10:37:13+01:00 Trends Webinar: How Marketers Learn <p>Econsultancy's Trends Webinar for June 2017 will discuss recent research conducted by Econsultancy which examined how marketers approach professional development.</p> <p>In addition, the webinar will explore the ever increasing availability of options for marketers to keep up to date with the skills required to be a modern marketing professional looks at some of the key trends around practices How Marketers Learn.</p> <p>This webinar will be facilitated by Seán Donnelly, Senior Research Analyst at Econsultancy and Steffan Aquarone, Consultant Head of Best Practice Reports.</p> <h2 style="border: 0px; vertical-align: baseline; color: #004e70;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">Reports referenced for further reading:</strong></h2> <ul> <li>How Marketers Learn Report - due to be published in July</li> </ul> tag:econsultancy.com,2008:BlogPost/69117 2017-05-30T10:17:52+01:00 2017-05-30T10:17:52+01:00 Three digital challenges facing technology organisations Nikki Gilliland <p>Based on a sample of over 900 respondents working in the technology sector, the report investigates how committed tech organisations are to digital transformation, as well as how this impacts their wider customer experience strategy. </p> <p>Despite a digital-first approach – with increasing competition and shifting customer expectations – the sector is still facing some key challenges.</p> <p>Here are a few charts from the report to explain further, which subscribers can <a href="https://econsultancy.com/reports/digital-intelligence-briefing-2017-digital-trends-in-technology/" target="_blank">download in full here</a>.</p> <h3>Ensuring a consistent CX</h3> <p>81% of technology respondents agree that their organisation has a ‘cross-team approach with the customer at the heart of all initiatives’.</p> <p><img src="https://assets.econsultancy.com/images/0008/6359/Figure_2.JPG" alt="" width="780" height="559"></p> <p>Despite this, the real challenge lies in ensuring a consistent CX across the board. After all, the ‘customer’ could refer to anyone from an individual buying a single product to a large corporation implementing enterprise tech. </p> <p>So how can organisations diversify and personalise their product offering to suit individual customers?</p> <p>Many tech companies appear to be focusing on digital content in order to do so, with 56% planning to increase their budgets for content marketing in 2017.</p> <h3>The need for expertise and skills</h3> <p>Almost three quarters of tech respondents think that optimising the customer journey across multiple platforms will be ‘very important’ for their digital marketing over the next few years. This is especially the case for those who claim to be ‘digital-first’, with 82% citing its importance compared to 71% of the rest.</p> <p>Naturally, the biggest obstacle for implementing this is the expertise and skills required.</p> <p>It <em>is</em> becoming a growing priority, however, with the proportion of respondents saying they have ‘the people they need to engineer good customer experiences’ increasing by 9% in the last two years.</p> <p>Meanwhile, 90% of digital-first organisations already have the necessary skills in place, and 16% are more likely to consider training as ‘very important’ in the near future – which is especially encouraging considering the rate of innovation within the sector.</p> <p><img src="https://assets.econsultancy.com/images/0008/6360/Figure_4.JPG" alt="" width="780" height="575"></p> <h3>Investing wisely in a new wave of innovation </h3> <p>While 29% of respondents plan to use product or service innovation to differentiate themselves from competitors – compared to just 26% for customer experience – digital-first organisations have a different perspective.</p> <p>The survey found that digital-first organisations are 52% more likely than the rest to see customer experience as a key differentiator – which can be interpreted as a reflection of their digital maturity.  </p> <p><img src="https://assets.econsultancy.com/images/0008/6361/Figure_5.JPG" alt="" width="780" height="596"></p> <p>Unsurprisingly, the technology sector looks set to be the first industry to truly take advantage of innovation, being three times as likely as others to see artificial intelligence, virtual reality, and the IoT as exciting prospects in the next few years to come.</p> <p>Integration of this technology is dependent on budget, of course. But while large corporations will be better equipped to invest, the opportunity for smaller businesses could lie in collaborating with others to test whether or not these technologies will truly benefit the customer.</p> <p><img src="https://assets.econsultancy.com/images/0008/6365/Figure_6.JPG" alt="" width="780" height="592"></p> <p><em><strong>Download the full <a href="https://econsultancy.com/reports/digital-intelligence-briefing-2017-digital-trends-in-technology/" target="_blank">2017 Digital Trends in the Technology Sector Report</a>.</strong></em></p> tag:econsultancy.com,2008:BlogPost/68996 2017-04-13T15:22:31+01:00 2017-04-13T15:22:31+01:00 10 cracking digital marketing stats from this week Nikki Gilliland <h3>28% of marketers still feeling unprepared for the GDPR</h3> <p>With just over a year until the GDPR comes into force, a <a href="https://dma.org.uk/infographic/infographic-b2b-marketing-and-the-gdpr" target="_blank">new infographic</a> from the DMA shows that many marketers are failing to prepare.</p> <p>While general awareness of the GDPR is up, 28% of B2B marketers still feeling unprepared – down just 2% from previous figures. Only two-thirds of survey respondents said their business would be GDPR compliant in time for 2018.</p> <p>In terms of the causes of concern, 37% of marketers said profiling, while 50% said it was legacy data. The biggest was by far consent, with 70% agreeing that it would change under the GDPR.</p> <p><img src="https://assets.econsultancy.com/images/0008/5442/DMA_infographic.JPG" alt="" width="618" height="324"></p> <h3>Three fifths of marketing graduates have no knowledge of affiliate strategies</h3> <p>Affilinet has been researching how well marketing students are prepared for a career in the industry, with results showing that many are graduating with little or no knowledge of affiliate or performance-based marketing.</p> <p>In a survey, 41% of graduates said that they have studied modules related to affiliate marketing. Out of these, however, 67% stated that the information taught was ‘outdated and unhelpful’.</p> <p>52% admitted that they’d needed to teach themselves to progress in their career, with 22% learning through courses later on. The remaining 26% of marketing graduates said that they still had no knowledge of affiliate practices whatsoever.</p> <h3>Mobile drives digital ad spend past £10bn</h3> <p>According to a new report from <a href="https://iabuk.net/about/press/archive/mobile-drives-digital-ad-spend-past-10-billion-threshold" target="_blank">IAB and PwC,</a> digital advertising grew at its fastest rate for nine years in 2016, increasing 17.3% to £10.3bn.</p> <p>Mobile video is now the fastest-growing ad format, with spend on mobile video ads doubling to £693m. Consequently, it now accounts for 29% of the total growth in ad spend.</p> <p>Insight suggests that the rise reflects the increasing amount of users watching video clips on their smartphones, with two in five people reportedly saying they now watch mobile video more than they did a year ago.</p> <p><img src="https://assets.econsultancy.com/images/0008/5440/PwC_IAB.png" alt="" width="780" height="480"></p> <h3>Just 13% of employees able to name their company CMO</h3> <p>New research by eShare suggests that chief marketing officers are one of the least recognised board members, with just 13% of employees able to identify the CMO of their organisation.</p> <p>In a survey of over 1,000 UK employees, just 8% were able to identify the chairperson and 14% were able to identify the chief information officer and chief financial officer. In contrast, 36% were able to name the CEO, making this the most visible board member to UK employees.</p> <h3>66% of beauty shoppers use Instagram for inspiration</h3> <p>Facebook and Instagram has revealed how beauty shoppers are increasingly turning to social media to help inform their purchases.</p> <p>The Mobile Makeover Report states that 66% of beauty shoppers look to social media for inspiration on how to achieve their perfect look, 70% for learning make-up techniques and 62% for advice on products. </p> <p>Tutorials are among the most popular types of video, with 74% of beauty viewers watching ‘how-to’ content. You can read more about how mobile is impacting the beauty industry <a href="https://econsultancy.com/blog/68992-three-ways-mobile-is-impacting-the-beauty-industry/" target="_blank">in this article</a>. </p> <h3>41% of UK shoppers will spend more to make Easter special</h3> <p>Savvy has been exploring how consumers will spend their money over Easter, with 62% of UK shoppers planning to celebrate over the bank holiday weekend.</p> <p>In a survey, 41% of respondents said they don’t mind spending more in order to make their Easter celebrations special. That being said, shoppers will still be on the hunt for a discount, with 60% saying they already know where they’ll can find the best value Easter eggs.</p> <p>Unsurprisingly, eggs will be the most popular item to buy, followed by chocolate in general, and the ingredients for a roast dinner. </p> <p><img src="https://assets.econsultancy.com/images/0008/5441/Savvy.JPG" alt="" width="700" height="452"></p> <h3>62% of ecommerce brands don’t personalise digital experiences</h3> <p>Episerver’s <a href="http://www.episerver.com/learn/resources/research--reports/seven-digital-commerce-trends-for-retail-2017/" target="_blank">State of Digital Commerce</a> report suggests that just 38% of ecommerce brands are incorporating personalisation into their current marketing strategies. Despite 70% of companies using email marketing, only 28% are using triggered emails to re-engage non-converting customers.</p> <p>What’s more, despite the abundance of data available, 46% of marketers admit they wouldn’t be able to create an omnichannel campaign due to a lack of insight into the customer journey.</p> <h3>Paddy Power generates the most social engagements during Grand National</h3> <p>4C has analysed the level of social engagement generated from TV ads during the Grand National. Results show that Paddy Paddy stole the show, with its two ads generating 59,527 engagements from public mentions, retweets, comments and likes on social channels – double the engagement of competitors.</p> <p>SkyBet saw 16,840 engagements and Coral saw 18,733. Meanwhile, despite its close association with horse racing, William Hill saw just 2,812 over the course of the event.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Looking for some guidance on how to pick the winner of the <a href="https://twitter.com/hashtag/GrandNational?src=hash">#GrandNational</a>? Watch this video to find out how the experts do it. <a href="https://t.co/27q9DPQJP0">pic.twitter.com/27q9DPQJP0</a></p> — Paddy Power (@paddypower) <a href="https://twitter.com/paddypower/status/850644686096281600">April 8, 2017</a> </blockquote> <h3>Consumers see Snapchat as a passing trend for brand communication</h3> <p>A new study by <a href="https://uk.mailjet.com/blog/guide/email-innovations-research-report/" target="_blank">Mailjet</a> has revealed that consumers are displaying a lack of faith in new platforms like Pinterest and Snapchat and their role in brand communication.</p> <p>41% of consumers believe that email is the platform most people will be using in 10 years’ time, followed by 26% of consumers saying the same for Facebook and WhatsApp. In contrast, just 11% of people are certain that Pinterest and LinkedIn will be used in a decade and only 14% are confident that Snapchat will still exist. </p> <p>Despite many brands getting involved, major updates to platforms are also going unnoticed by consumers, with just 6% of people noting Instagram’s ‘buy button’.</p> <p><img src="https://assets.econsultancy.com/images/0008/5443/Instagram_shop_now.JPG" alt="" width="680" height="452"></p> <h3>Supermarket promotions fall to lowest level in 11 years</h3> <p>According to <a href="http://www.nielsen.com/uk/en/press-room/2017/supermarket-promotions-at-lowest-level-for-11-years.html" target="_blank">Nielsen</a>, supermarket promotions have fallen to their lowest level in 11 years in the UK, with just 26% of consumer spend going towards temporary discounts or multi-buy offers in the four weeks up until 25th March 2017.</p> <p>Nielsen suggests that this is due to supermarkets becoming increasingly price competitive, turning temporary price reductions into permanent cuts as a result.</p> <p>Year-on-year supermarket sales have also fallen, with the late Easter period said to have contributed to a 2.6% decrease in the four-week period to March 25th.</p> tag:econsultancy.com,2008:BlogPost/68962 2017-04-06T11:03:00+01:00 2017-04-06T11:03:00+01:00 How HR professionals are adapting to the digital age Nikki Gilliland <p>Econsultancy’s <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report delves into this topic, drawing on insight and knowledge from people within the industry as well as wider research.</p> <p>Here are a few key takeaways, highlighting how HR professionals are adapting to digital change.</p> <h3>Being proactive rather than reactive</h3> <p>While HR professionals are increasingly using data to gain a clearer picture of employees across organisations, it appears that this is still being done at quite a basic level – usually for diagnostic purposes such as measuring output. </p> <p>In future, it is predicted that data will play a more proactive role in HR practice, ultimately being used in predictive ways to develop greater understanding and impact for the HR function overall.</p> <h3>Following the focus on CX</h3> <p>The below chart shows that customer experience is still seen as the biggest opportunity for businesses – above and beyond other factors such as creating compelling content or data-driven marketing.</p> <p><img src="https://assets.econsultancy.com/images/0008/5200/CX.JPG" alt="" width="624" height="592"></p> <p>In turn, CX is also driving change in the processes, structures and practices across organisations as a whole – including HR. </p> <p>Whether it is finding ways to reinforce a collaborative culture or breaking down department barriers, the implications for HR are essentially a greater need to support cross-company collaboration and to facilitate change.</p> <h3>Improving digital literacy </h3> <p>Despite 71% of respondents in a survey saying that it is very important for business leaders to be technology-literate, just 28% said that they believe that is the case within their current organisation.</p> <p><img src="https://assets.econsultancy.com/images/0008/5201/Tech_literate.JPG" alt="" width="600" height="453"></p> <p>This is clearly one area that senior professionals need to work on, however it’s not just about improving technology knowledge in an operational sense.</p> <p>Rather, senior professionals need to understand the potential, integration and application of technologies, with the separation and clear distinction of these three contexts being key.</p> <h3>Recognising the employee experience</h3> <p>While CX is often cited as the main catalyst for <a href="https://econsultancy.com/blog/68216-six-iconic-retailers-and-their-digital-transformation-journeys/" target="_blank">digital transformation</a>, many professionals are beginning to recognise that employee engagement is also a core component.</p> <p>In other words, true transformation is about more than just technical expertise and channels, or indeed marketing and CX. It is about how organisations respond appropriately to the challenges and opportunities that the digital world creates, or in other words, how they reshape the way in which teams work, collaborate and behave. </p> <h3>Evolving leadership qualities </h3> <p>Finally, HR professionals are increasingly focusing on ‘softer skills’, with a change in the perception of leadership qualities seen overall. Rather than traditional leadership qualities such as being inspirational, highly commercial and action-oriented – skills such as adaptability, flexibility, curiosity and the ability to embrace change are growing in importance.</p> <p>Of course, a mix of both soft and traditional skills remain the ideal, with knowledge and empathetic emotional intelligence truly driving organisational change. For HR professionals, the greatest challenge remains being able to find it.</p> <p><em><strong>Related reading:</strong></em></p> <ul> <li><em><a href="https://econsultancy.com/blog/68873-what-exactly-is-company-culture-and-how-can-hr-change-it/" target="_blank">What exactly is company culture? And how can HR change it?</a></em></li> <li><a href="https://econsultancy.com/blog/67976-this-is-how-you-explain-to-hr-what-digital-means/" target="_blank"><em>This is how you explain to HR what 'digital' means</em></a></li> </ul> <p><em><strong>Econsultancy subscribers can also download the full <a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age/" target="_blank">Future of HR in the Digital Age</a> report.</strong></em></p> tag:econsultancy.com,2008:BlogPost/68954 2017-03-31T13:25:00+01:00 2017-03-31T13:25:00+01:00 10 mesmerising digital marketing stats from this week Nikki Gilliland <p>If that’s not enough, head on over to the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a> for more.</p> <h3>Video advertising outperforms desktop display</h3> <p style="font-weight: normal;">A report released by Integral Ad Science has revealed that video advertising outperformed desktop display for the first time. </p> <p style="font-weight: normal;">Compared to the first half of 2016, video viewability showed significant improvement in the second half of the year, increasing from 40% to 58.2%. Meanwhile, the completion rate in view increased from 26.7% to 35.1%.</p> <p style="font-weight: normal;">Video brand risk also improved, decreasing from 11.2% to 8.9%. That being said, with the advent of fake news, brand safety remains a critical issue for advertisers, highlighting the need for a solution to protect brand reputations.</p> <h3>One in nine online visits were made to news and media sites in 2016</h3> <p>Hitwise suggests that there’s been a shift in the British public’s media consumption, predicted to be due to the impact of today’s political landscape. </p> <p>Data shows that, as well as consuming more news across broader sources, people are now beginning to question the validity of news providers and changing their preferences of media titles as a result. One in nine visits online were made to news and media sites in 2016 compared to 1 in 10 visits in 2015.</p> <p>Articles focusing on Trump and Brexit accounted for five out of the top 10 read articles in January and February 2017. Meanwhile, in the month before and after Trump’s inauguration, left-leaning newspapers such as the Guardian and The Independent gained readers from traditional tabloids, such as The Sun, Express and Daily Mail.  </p> <p><img src="https://assets.econsultancy.com/images/0008/5157/Hitwise_1.png" alt="" width="510" height="464"></p> <h3>Consumers increasingly favouring mobile loyalty programs</h3> <p>The 2017 <a href="http://www.vibes.com/resources/2017-uk-mobile-consumer-report/" target="_blank">Mobile Consumer Report</a> from Vibes highlights a link between digital loyalty programs and greater consumer loyalty.</p> <p>Research shows that 70% of consumers would have a more positive opinion of a brand if it allowed them to save a loyalty card in their smartphone. Over one-third of people are said to store information from brands in a mobile wallet such as Apple Wallet and Android Pay.</p> <p>83% of smartphone users also say that receiving surprise rewards, exclusive content and special birthday or anniversary messaging would have a positive impact on their brand loyalty overall.</p> <p><img src="https://assets.econsultancy.com/images/0008/5161/Mobile_Consumer_report.jpg" alt="" width="763" height="756"></p> <h3>Mobile consumers in emerging markets are more intolerant of bad user experiences</h3> <p>A new report by <a href="http://wearefetch.com/cms/content/media/2015/12/Fetch-Global-Mobile-Consumer-Survey.pdf" target="_blank">Fetch</a> suggests that brands should consider shifting their mobile advertising focus to emerging markets, as levels of engagement rapidly increase.</p> <p>According to research, 31% of users in emerging markets define themselves as mobile-first, compared to 15% in Europe and 18% in North America.</p> <p>Similarly, where 66% of European consumers claim to access social media every hour, this rises to 72% amongst emerging markets.</p> <p>Lastly, mobile-first consumers in emerging markets are more intolerant of bad <a href="https://econsultancy.com/reports/user-experience-and-interaction-design-for-mobile-and-web/">mobile web experiences</a>, with 84% saying they would leave a mobile website if it loaded slowly, compared to 69% in Europe and 75% in North America.</p> <p><img src="https://assets.econsultancy.com/images/0008/5160/Fetch_mobile_consumer.jpg" alt="" width="780" height="280"></p> <h3>62% of consumers will stick to premium if prices rise post-Brexit</h3> <p>New findings from Centre for Retail Research and Rakuten Marketing suggest that consumers have differing views of how the referendum result will affect prices in the UK.</p> <p>A survey of 1000 consumers across the UK found that, over the next six months, 37% of people are sure they will be better off, while 40% think they will be worse off.</p> <p>Regardless, the survey also found that shoppers will not stop purchasing premium products if prices have to rise as a result of Brexit. If faced with a price increase of up to 10%, only 6% of Brits claim they would refuse to buy the item, while 62% would buy the premium brand anyway.</p> <p>There does seem to be a tipping point, however, with a 15% price increase expected to make 21% of shoppers switch to a cheaper brand.</p> <h3>UK companies unprepared for business pitching</h3> <p>Research from <a href="http://buffalo7.co.uk/uk-companies-are-not-prepared-for-pitching/" target="_blank">Buffalo7</a> has found that the majority of UK companies are not properly prepared to win new business pitches.</p> <p>From a survey of industry professionals, 61% of respondents said their companies did not employ any staff with slide-deck design expertise. In contrast, 60% wished their companies did have such expertise in-house, with 62% believing it would help their companies to win more pitches. </p> <p>Despite this recognition, a whopping 75% of respondents said that that their companies do not provide any formal training for delivering pitches.</p> <p>Perhaps unsurprisingly, the survey also found that 76% of companies have pitched for business in the last 12 months, but that 54% are losing half or more of the pitches they contest.</p> <p><img src="https://assets.econsultancy.com/images/0008/5159/Buffalo7.jpg" alt="" width="721" height="458"></p> <h3>YouTube is number one for consumer positivity</h3> <p>According to a new study from Trinity McQueen, YouTube tops the list of media brands that people feel the most positively about.</p> <p>In a survey of ‘unbound consumers’ - people who reject scheduled media for on-demand services -  21% cited that they feel positively about YouTube, followed by 20% feeling positive towards the BBC and 16% about Netflix. </p> <p>New content appears to be a key factor in a media brand’s popularity, with 46% of unbound audiences most likely to believe YouTube always has new content, while 35% saying the same about the BBC.</p> <p>Lastly, 41% of unbound audiences feel that Facebook offers the most personalised experience, while 41% thinks YouTube offers the best overall online experience.</p> <h3>Car brands see Instagram follower growth of 20% in two months</h3> <p>A new study by <a href="https://www.quintly.com/blog/2017/03/the-10-most-liked-uk-brands-on-instagram/" target="_blank">Quintly</a> has revealed that five out of the top ten most-liked UK brands on Instagram are car manufacturers. </p> <p>What’s more, they all had a follower growth of at least 20% in the period of October to December 2016.</p> <p>Other analysis shows that Jaguar had the most successful post in terms of the number of likes, with a post showing the model F-Type garnering over 110,000 likes. </p> <p>This is just one example of the popularity of luxury brands on Instagram, which is also reflected by the success of other big brands like Burberry and Rolls Royce.</p> <p><img src="https://assets.econsultancy.com/images/0008/5154/Jaguar.JPG" alt="" width="760" height="489"></p> <h3>Mobile accounts for more than 60% of digital minutes in global markets</h3> <p>According comScore’s <a href="http://www.comscore.com/Insights/Presentations-and-Whitepapers/2017/Mobiles-Hierarchy-of-Needs?cs_edgescape_cc=GB" target="_blank">Mobile Hierarchy of Needs</a> report, mobile devices now account for a majority of consumers' digital minutes, with most of that time spent in apps.</p> <p>The growing share of consumer time claimed by mobile devices accounted for more than 60% of all digital minutes in nine major markets, rising to 91% in the case of Indonesia.</p> <p>Apps represented more than 80% of mobile minutes in all markets studied, rising to 99% in the case of China.</p> <p>The top apps are no surprise, with WhatsApp, Facebook Messenger, <a href="https://econsultancy.com/blog/67490-10-things-you-didn-t-know-about-wechat/">WeChat</a>, QQ Instant Messenger and Line showing the popularity of messaging apps</p> <h3>63% of consumers believe the media needs more regulation</h3> <p>A new report by Network Research shows that public trust in the reliability of media information has declined significantly in the last 12 months, with 63% of people now believing that media outlets need more regulation.</p> <p>In a survey of 1,000 UK adults, the study also found that 39.5% of people feel the government has significant influence on the media agenda, while 32% feel that businesses do.</p> <p>Almost half of the public are suspicious they may have seen or read fake news recently, with 75% subsequently trusting publications to a lesser extent. 83% of people also believe there should be greater penalties for reporting fabricated news.</p> tag:econsultancy.com,2008:Report/4443 2017-03-27T09:45:00+01:00 2017-03-27T09:45:00+01:00 The Future of Agencies: Systems and Empathy <p>This report explores the shifting agency landscape and the dynamics that are shaping agency capability, operating and client engagement models as well as remuneration and approaches to talent.</p> <p>It also examines the key opportunities for agencies in a rapidly shifting environment.</p> <h2>Key findings</h2> <ul> <li>Client focus on customer experience (CX) has created opportunities for agencies willing to deepen their engagement with clients. These engagements range in scope from building new platforms and capabilities, service design and delivery, continuous improvement, operational efficiency, customer acquisition, activation and advocacy.</li> <li>The strategic focus on wider CX has led to a shift towards co-creation between brands and agencies. This means that agencies are working with clients to help them find problems to solve and opportunities to exploit. This differs from the traditional model of agencies simply responding to client briefs. Emphasising the reach of CX, agencies have the opportunity to expand their offering to work with multiple departments beyond the marketing function including digital, innovation, service design, IT, finance and HR teams.</li> <li>This requires a wider set of agency capabilities. For example, joining data with technology to create seamless front-end customer interaction. The challenge for agencies is in developing these competencies and packaging their offerings to clients in ways that make sense so as to create a unique value proposition. </li> <li>Agency value propositions are evolving. Traditional consulting firms are developing and acquiring digital, creative and design expertise. Meanwhile traditional agency holding companies are developing their consulting, data and technology competencies. </li> <li>The complexity of martech (and likely vendor convergence) means there is an opportunity for agencies to act as ‘sense-makers’ for clients and act as trusted partners in making sense of the strategic applications of new waves of technology including artificial intelligence (AI), virtual reality (VR) and the Internet of Things (IoT).</li> <li>Advertisers are demanding greater transparency in recognition of the increasingly complex ad technology landscape. A recent World Federation of Advertisers report showed that almost 90% of advertisers are reviewing and resetting contracts, relationships and models with agency trading desks to improve control.</li> <li>Organisational purpose and culture are becoming as important as location and remuneration in the search to recruit and retain talent. Structures are changing to foster collaborative, agile working which can attract creative and technical talent to deliver exceptional value to clients.</li> <li>With the expansion of agency capabilities, new client-agency remuneration models are becoming prevalent. An increasing focus on project remunerated work is resulting in the decline of the strategic retainer model. Some agencies are using a blended charging approach. This means blending rates of resources of different levels and skills to create a ‘pooled’ rate. These rates can be applied to projects based on how the agency is adding value.</li> </ul> <h2>Methodology</h2> <p>The research for this report comprised a comprehensive series of in-depth interviews with a wide range of:</p> <ul> <li>Senior agency practitioners</li> <li>Marketing practitioners</li> <li>Innovation specialists</li> <li>Consultancy leaders</li> <li>Futurists</li> </ul> <p>This was supported by extensive review of the current literature examining the future of creative and digital marketing sectors including advertising, marketing, content creation and the strategic focus on customer experience.</p> tag:econsultancy.com,2008:BlogPost/68930 2017-03-24T10:00:16+00:00 2017-03-24T10:00:16+00:00 10 amazing digital marketing stats from this week Nikki Gilliland <p>If that’s not enough to tickle your fancy, you can check out the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a> for more.</p> <h3>Online retail sales are up 15% while smartphone growth slows</h3> <p>According to the <a href="https://www.imrg.org/data-and-reports/imrg-capgemini-sales-indexes/sales-index-march-2017/" target="_blank">latest figures</a> from the IMRG Capgemini e-Retail Sales Index, UK online retail sales were up 15% year-on-year in February. </p> <p>However, the rate of growth for sales through smartphone devices has roughly halved year-on-year, going from 96% in February 2016 to just 57% in February 2017.</p> <p>With tablet growth also remaining low at 3.5%, a sustained slowdown through this channel could potentially impact growth rates for online retail overall.</p> <h3>Instagram has more than 1m monthly active advertisers</h3> <p>Instagram has <a href="https://business.instagram.com/blog/welcoming-1-million-advertisers">just announced</a> that it has more than doubled its amount of monthly active advertisers in the past six months. Growing from 500,000 last September, it now with an advertiser base of 1m.</p> <p>Furthermore, there are now more than 8m businesses using a business profile on Instagram, with the greatest adoption coming from the US, Brazil, Indonesia, Russia and the UK.</p> <p><img src="https://assets.econsultancy.com/images/0008/4980/Instagram.jpg" alt="" width="275" height="548"></p> <h3>74% of shoppers will abandon purchases after adding items to their cart</h3> <p>Survey data from <a href="https://blog.salecycle.com/featured/infographic-people-abandon-shopping-carts/" target="_blank">SaleCycle</a> has revealed that 74% of online retail visitors who add something to their cart will leave without following through on the purchase.</p> <p>In terms of retail categories, health and beauty currently has the lowest abandonment rates of 68.2%. In contrast, consumer electronics has the highest with a rate of 78.8%.</p> <p>Overall, 34% of people are said to abandon their baskets because they are ‘just browsing’, while 23% might have an issue with shipping.</p> <p><img src="https://assets.econsultancy.com/images/0008/4975/SaleCycle.JPG" alt="" width="670" height="464"></p> <h3>8 out of 10 online shoppers avoid retailers after a bad returns experience </h3> <p>New data from Klarna has revealed that retailers who fail to provide consumers with a quick and easy returns service risk losing a large proportion of their customer base. </p> <p>In a survey of 2,000 UK consumers, <a href="https://www.theretailbulletin.com/news/past_the_point_of_no_return_22-03-17/" target="_blank">83% of online shoppers</a> said that they would never shop with a retailer they have had a bad returns experience with in the past. Similarly, 77% believe UK retailers need to improve their returns capabilities, while 28% said they have been put off returning items due to foreseen hassle. </p> <p>With online shoppers reportedly returning 10% of goods they buy online, and 40% deliberately ordering multiple items to send back what they don’t want, it is vital for retailers to improve returns processes in order to capture long-term loyalty.</p> <h3>Total video content views rose by 26% in 2016</h3> <p>The <a href="http://freewheel.tv/insights/#video-monetization-report" target="_blank">Video Monetisation Report</a> by FreeWheel has revealed that 2016 was a pivotal year for premium video consumption.</p> <p>The report states that content views rose by 26% from the previous year, with ad views up by 24%. Similarly, huge global events like the Rio Olympics and the Presidential election boosted video views, contributing to the general growth of popularity in live video content in the US.</p> <p>Meanwhile, as news and sport content enjoyed major growth across the pond, entertainment reigned supreme in Europe, with 93% of ad views being based on this content, as opposed to 46% in the US.</p> <h3>90% of UK agencies expect to increase turnover in 2017 </h3> <p>New findings from BenchPress suggest that, despite uncertainties over Brexit, a massive 90% of creative and digital agencies in the UK expect to increase their turnover in 2017.</p> <p>While 84% of agency owners were against Brexit, 52% have yet to notice any knock-on effect on their businesses following the referendum in June 2016.</p> <p>29% have experienced clients cancelling projects because of uncertainty around Brexit, while 11% have instead recorded increases in overseas work as a result of the devaluing of the Pound.</p> <p><img src="https://assets.econsultancy.com/images/0008/4976/Brexit.JPG" alt="" width="637" height="302"></p> <h3>78% of older shoppers fear a robot-run high street</h3> <p>A new <a href="http://possible.mindtree.com/SixthSenseofRetail.html" target="_blank">report by Mindtree</a> suggests that 78% of shoppers over the age of 55 are apprehensive about new retail technologies like automation, artificial intelligence and robotics infiltrating the high street.</p> <p>In contrast, 51% of shoppers between the ages of 16 and 24 are comfortable with the idea of automated technologies in stores.</p> <p>Additionally, the study – which involved a survey of 2,000 consumers in the UK – found there are differing opinions between genders, with 44% of men happy with a robotic shopping experience compared with just 30% of women. </p> <h3>Only a half of charities have a digital strategy in place</h3> <p>The <a href="https://www.skillsplatform.org/content/charity-digital-skills-report" target="_blank">Charity Digital Skills Report</a> has revealed that many UK charities are still struggling to get to grips with digital transformation. </p> <p>From a survey of 500 charity professionals, 50% said they do not have a digital strategy currently in place, and only 9% said they have been through digital transformation. When it comes to the biggest barriers, 57% of charities cite a lack of the right skills and 52% say a lack of funding. </p> <p>It’s not a case of disinterest, however, as 75% of charities think growing their digital skills would help them increase fundraising.</p> <p><img src="https://assets.econsultancy.com/images/0008/4977/Charities_digital.JPG" alt="" width="690" height="264"></p> <h3>26% of UK shoppers plan to spend more this Mother’s Day than 2016</h3> <p>From a survey of 1,000 shoppers, Savvy found that 66% of respondents will be getting involved with Mother’s Day this year, with 26% planning to spend more than they did in 2016.</p> <p>Despite spending more, there seems to be some negativity surrounding the type of gifts on offer. 54% of shoppers agree that Mother’s Day products presented in retail stores are ‘boring and lack inspiration’. Consequently, 45% of shoppers plan to purchase presents online – an increase of 7% on last year.</p> <p>Finally, 36% desire a wider range of gifts to suit different budgets, while 38% of shoppers want more gift ideas and inspiration from retailers.</p> <p><img src="https://assets.econsultancy.com/images/0008/4978/Mother_s_Day.jpg" alt="" width="665" height="583"></p> <h3>44% of advertisers are considering in-house solutions</h3> <p>ISBA and Oliver have conducted the first-ever UK survey on advertisers’ use of in-house and on-site agencies.</p> <p>The findings show that advertisers are now seeking closer relationships with fewer suppliers, as just under half of brands are now considering establishing an on-site or in-house capability.</p> <p>Lack of speed appears to be one of the main reasons for this, with 68% of marketers expressing frustration over the time it takes external agencies to make decisions or turn around briefs. In contrast, this figure drops to 8% for on-site and 20% for in-house agencies.</p> <p>Other advantages cited for in-house include improved brand expertise, collaboration, operational control and creative expertise.</p> tag:econsultancy.com,2008:BlogPost/68922 2017-03-22T09:15:28+00:00 2017-03-22T09:15:28+00:00 50% of digital tech businesses in the UK say talent supply is biggest challenge Ben Davis <h4>A third of digital employers say candidates are asking for too much money</h4> <p>With technical skills in demand, salary growth is an issue for employers. Of the 2,700 survey respondents (roughly half of them CEOs) over a third said that candidates are asking for more money than they can afford to pay.</p> <p>There are currently 1.64m digital tech jobs, according to data from BSD and Tech City UK. That's 6% of UK jobs, half of which are within digital tech companies, and half that are digital tech roles within more traditional companies.</p> <p>The growth rate of digital jobs between 2011 and 2015 was 17%, compared to just 8% growth in non-digital sectors.</p> <p>As you can see from the chart below, salary growth in digital (13% since 2012) is also outpacing that of traditional roles (4% over the same time span). The average digital salary was 44% higher than the average non-digital salary in 2015. </p> <p><img src="https://assets.econsultancy.com/images/0008/4943/salary_growth_in_tech.jpg" alt="salary growth tech" width="615"></p> <h4>The UK as European hub for digital skills</h4> <p>In 2016 the UK secured £6.8bn venture capital and private equity digital tech investment. As you can see from the chart below, that is more than France, Germany and the Netherlands combined.</p> <p>TechCity's research shows that London has almost almost twice as many Github users as Paris or Berlin, highlighting its dominance in European software development.</p> <p>There are obvious worries, though, about the impact of Brexit, considering 13% of digital tech employees in the UK are from abroad (up from 11% in 2011), compared to 10% in other sectors.</p> <p>In London and the South East, though, digital tech employees from abroad make up a massive 31% of the workforce (11% EU nationals and 20% non-EU nationals). These figures are taken from Tech City's forthcoming published research.</p> <p><img src="https://assets.econsultancy.com/images/0008/4941/uk_tech_investment.jpg" alt="uk tech investment" width="500"> </p> <h4>Nearly 5% growth of the UK digital tech sector in 2015</h4> <p>The UK’s digital tech sector grew 50% faster than the economy as a whole in 2015 (4.8% versus 3.2%).</p> <p>What's more, the gross value added (GVA) by each digital tech worker is considerably greater than that of a non-digital worker – £103,000 compared to £50,000 (based on 2015 data from ABS / BSD).</p> <p><img src="https://assets.econsultancy.com/images/0008/4942/gva_growth_tech.jpg" alt="gva growth tech" width="500">  </p> <h4>Cambridge an emerging hotspot</h4> <p>There's lots more in the Tech Nation report, which serves as another timely reminder to the Government of the continued success of the digital tech sector in the UK.</p> <p>The report profiles many other important areas of the UK with burgeoning tech scenes, and highlights Cambridge as the place, outside of London, with the largest number of Github users (4,000 – 8th in Europe-wide rankings).</p> <p><strong><em>More on the digital skills shortage:</em></strong></p> <ul> <li><em><a href="https://econsultancy.com/blog/68487-how-can-companies-attract-and-retain-talent-in-the-digital-age/">How can companies attract and retain talent in the digital age?</a></em></li> <li><a href="https://econsultancy.com/blog/68904-minding-the-digital-skills-gap-top-tips-for-aspiring-modern-marketers/"><em>Minding the digital skills gap: top tips for aspiring modern marketers</em></a></li> </ul> tag:econsultancy.com,2008:BlogPost/68904 2017-03-20T10:09:34+00:00 2017-03-20T10:09:34+00:00 Minding the digital skills gap: top tips for aspiring modern marketers Donna-Marie Bohan <p>In today’s business landscape we are witnessing a transforming job market. How are marketing roles and responsibilities going to change and develop in the future? How does the human element of brand building evolve in a world of emerging technology?</p> <p>These are some of the questions that concern us as modern marketers grappling with a fast-moving and uncertain environment. </p> <p>Data from The Marketing Society shows that <a title="why cmos life expectancy is falling" href="https://www.marketingweek.com/2016/03/07/why-cmos-life-expectancy-is-falling/" target="_self">the average tenure of CMOs in the UK stands at just 18 months</a>. All this means that marketers are having to work even harder to prove their worth to the board. With <a href="https://econsultancy.com/blog/68718-what-is-zero-based-budgeting-and-what-are-its-benefits-for-marketers/">zero-based budgeting</a> and increasing pressure to prove ROI on marketing spend now commonplace, the onus is on marketers to show how marketing affects the business bottom line and how it ultimately drives a business forward.</p> <p>A shift in how marketing operates means that finding and nurturing the right talent is often difficult.</p> <p>Panellists Julia Porter (Origin Housing), Liz Curry (Comic Relief) and Luis Navarrete Gomez (Lego) reflected on this issue at Marketing Week Live and spoke about the challenges and opportunities of the skills gap for the modern marketer.</p> <p>Here are some of their top tips for aspiring marketers.</p> <h4>Data is your friend</h4> <p>Data is now a central part of marketing for the future, which means that marketers need to be comfortable utilizing it. Creativity is no longer enough; understanding data is essential if a marketer wants to develop their career.</p> <h4>Don’t lose focus on what’s important</h4> <p>Functional skills such as ecommerce and CRM as well as channels skills such as programmatic and social were cited as examples of the type of know-how now in demand.</p> <p>That being said, while data literacy and a basic knowledge of technology is important, the tech revolution has perhaps resulted in marketers losing sight of what’s really important: the customer.</p> <p>Porter (Origin Housing) admitted that marketing to people has become a bit frenetic. Instead, marketers must focus on how data can be used to add value and provide a better customer experience.</p> <h4>A hybrid mix of skills</h4> <p>The expectation for marketers to embrace both innovation and data analysis reflects a new reality: marketers need both left and right brains; a competency with numbers but also a creative mindset. In actuality, a combination of skills is essential for marketers to truly progress in their careers.</p> <p><img src="https://assets.econsultancy.com/images/resized/0008/4742/left_and_right_brain-marketo-blog-blog-flyer.jpg" alt="left and right brains - Marketo" width="470" height="234"></p> <p>This notion can be extended to the need for marketers to possess both functional and <a href="https://econsultancy.com/blog/64780-have-changes-in-modern-marketing-led-to-a-soft-skills-revolution/">soft skills</a>. Proactivity, adaptability and leadership are increasingly valued. As professionals with more technical backgrounds continue to join the ranks of marketing and the requirement of proving ROI to the board continues to increase, stakeholder management, aligning people with business goals and team building are important capabilities for the modern marketer.</p> <h4>Curiosity never killed the cat</h4> <p>So while recruiting for attitude and behaviour is considered just as important as hiring for skills and qualifications, panellists were in agreement that curiosity is one sought-after characteristic in the search for marketing talent.</p> <p>With rapid technological advancements demanding more continuous links between education and employment, lifelong learning is an imperative. Reading to keep abreast of the industry, the rising popularity of MOOCs and online classrooms and joining the gig economy are some of the ways in which marketers are taking ownership of their learning and shaping their own career and personal development.  </p> <h4>Finally…</h4> <p>Panellists offered some other practical tips on staying ahead in the era of modern marketing and how to improve knowledge and skills.</p> <p>Curry spoke of the benefits of making contacts with people who are at the same level as you in their career and mentioned the data council forum of which she is a member. Networking with peers in such forums is a valuable means of exchanging information and learning from one another.</p> <p>Finding a mentor was also referred to as a useful step towards boosting professional development. Mentoring schemes are provided by professional bodies such as the <a title="CIM mentoring scheme" href="http://www.cim.co.uk/more/mentoring/" target="_self">Chartered Institute of Marketing</a>, for example. The Marketing Academy also provides one-to-one mentoring and executive coaching from CMOs through its UK <a title="Marketing Academy scholarship programme" href="http://www.themarketingacademy.org.uk/our-programmes/the-scholarship" target="_self">Scholarship Programme</a>.   </p> <p>But Curry also emphasised the importance of being clear about what it is that you enjoy doing. There’s no point trying to make yourself a data scientist if you hate maths or statistics. It’s important to understand what an organisation needs as well as what you need.</p> <p>Deciding what you are interested in and building a portfolio of skills around that is a sensible approach to maximising opportunities and getting the most out of your career. </p> <p><em>To benchmark your own digital knowledge, take Econsultancy's <a href="https://econsultancy.com/training/digital-skills-index-lite/">Digital Skills Index</a>. And to expand your skills, book yourself onto one of our <a href="https://econsultancy.com/training/">digital marketing training courses</a>.</em></p>