A weekly round-up of the industry’s top stories and research curated by the ARF.
A current McKinsey Insights and Publications article discusses the expected growth in the global CPG sector, which is expected to nearly double in size from $8 trillion in 2014 to $14 trillion by 2025. Some surprising opportunities were revealed by McKinsey’s Cityscope Navigator tool, which analyzed the markets of more than 2,600 of the world’s largest cities.
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Cheryl Russell analyzes a study by the USDA’s Economic Research Service which reveals the factors that attract former residents of rural communities back to the communities they left as young adults. Factors attracting return migration included:
-Family ties, especially parents.
-The desire to raise their children in a small town.
-High value placed on small town lifestyles.
-Outdoor recreation opportunities.
-Tighter-knit social networks.
-Less anonymous environment.
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Jason Lynch, writing for Adweek, discusses the findings of a new study by Turner Broadcasting and Horizon Media that shows that TV is still the most effective advertising medium. The data, which was analyzed by MarketShare, found that TV’s advertising effectiveness between 2009 and 2014 has remained constant, and outperforms digital and offline channels at driving key KPIs, such as sales and new accounts.
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Dr. Paul Marsden, writing for Digital Intelligence Today, discusses a new study published by Northwestern University, “Unlearning Implicit Social Biases During Sleep.” This study demonstrates how brands can potentially influence sleeping consumers by exposing them to sounds, and perhaps vibrations from a wearable device, paired with a brand.
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Mark Joyella, writing for Adweek, analyzes the new report, Millennials and Political News, which was conducted by the Pew Research Center.
This online survey of almost 3,000 respondents reveals that Millennials favor social media for news about politics and government. Sixty percentage of Millennials prefer Facebook for political news, in contrast to the sixty percentage of Boomers who trust local TV for the same news.
This preference by Millennials will have a strong impact on the billions of dollars spent in Federal, state, and local races by political candidates and by political action committees. Local TV revenues will likely be negatively impacted as spending on social media increases during current and future political races.
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Wilson Raj, writing for MarketingProfs, discusses multi-screen marketing and provides tips for developing a winning strategy.
Successful multi-screen marketing is a strategy that enables brands to reach audiences across multiple platforms. By playing to each medium’s strengths, and keeping the messaging consistent, multi-screen messaging can be effective.
This article presents information from Millward Brown’s AdReaction 2014 report showing that users spend two out of more than seven hours of daily screen time using a digital device while watching TV. The short attention span and multi-tasking behavior of consumers increases the need for consistent marketing on multiple media.
Consumers respond to a well-crafted brand story that feels the same, regardless of media. Raj’s examples of brands successfully using multi-screen campaigns are AMC’s campaign for Season 4 of “The Walking Dead,” and Nike’s, “Greatness” campaign from the 2012 Olympics.
However, unsuccessful multi-screen campaigns come with a price. Consumers feel negatively about brands that show inconsistent multi-screen marketing, according to Forrester Research.
Tips for a successful multi-screen strategy:
-Use cross-screen analytics and targeting to reach audiences.
-Choose the most efficient media to achieve reach and frequency objectives.
-Consider mobile screens to generate buzz.
-Establish clear objectives and metrics.
Raj advises that media companies need a single campaign objective, whether increasing awareness, reducing attrition, etc. and should align all screen around this objective.
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Pew Research Center’s Privacy Panel Survey has revealed that Americans feel privacy is important in their daily lives. Yet, these consumers also feel that they have limited control over the data that is collected about them and how this information is used.
This survey, taken in early 2015, shows:
93% of adults say that being in control of who can get information about them is important.
90% say that controlling what information is collected about them is important.
Another Pew survey, taken during Q3 2014, shows:
-76% of adults are not confident that the records of their activities maintained by the online advertisers who place ads on the websites they visit will remain private and secure.
-69% of adults are not confident that records of their activity maintained by social media sites they use will remain private and secure.
Few survey respondents feel that they have “a lot” of control over how much information is collected about them in daily life and how it is used. Although few respondents report having changed their internet or mobile phone behavior to avoid being tracked recently, many of these respondents have already engaged in such activities as:
-59% of respondents have cleared cookies or browser histories.
-57% have refused to provide nonessential information for a transaction.
The concerns revealed by these Pew Surveys have ramifications for digital advertisers in terms of consumer fears about privacy and the security of their digital information and activities.
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In a recent blog Verto Analytics, Inc. points out that the number of downloads is a widely used metric for mobile apps. However, Verto feels that the focus should be on what happens after the download:
-How many consumers keep using the app?
-How much time is spent using the app on average?
Facebook’s flagship app is the leader in terms of achieving mobile user reach, as well as the highest user engagement.
Mobile app reach and engagement are only partially related and dependent on each other as the key high-level metrics. According to a Verto analysis, the top apps by reach is different from the top apps by time spent per user. Facebook Messenger is the leader in terms of user reach in the U.S.; however, WhatsApp Messenger is more successful in terms of engaging its small number of users as measured by average time spent per user for each app.
Other considerations when evaluating reach are whether the app has international users and whether it is a paid or unpaid service.
The role and importance of apps will continue to grow as consumer become increasingly dependent on mobile devices. Thus, metrics will remain top of mind for advertisers and their agencies.
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Mike O’Brien, writing for ClickZ, analyzes the challenge for mobile advertisers to overcome consumer “ad blindness” to mobile ads.
The rapidly growing number of mobile ads has left consumers feeling oversaturated with these ads. This problem is exacerbated by the extremely short attention span of consumers. Peter Szabo, Senior Vice President of Music and Ad Sales at Shazam, discusses the need of consumers for instant gratification. He observes that consumers lose interest if they cannot find an item on a retail website within five seconds.
O’Brien points out that interactive mobile ads created in partnership with Shazam allow customers of Target to “Shazam” QR codes, print and TV ads, and be brought to the product listing pages for their desired items.
Joe Laszlo, Senior Director of the IAB’s Mobile Marketing Center of Excellence, provides additional examples of brands creating effective mobile ads: The Home Depot and Very, a British e-retailer, both provide weather-related ads.
O’Brien feels that interactive mobile ads provide brands with an opportunity to more deeply engage with consumers.
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In this MarketingProfs article, Jeff Sierra discusses the vital role innovation plays in the success of companies. He presents the key organizational traits required to build a culture of innovation.
-Unrelenting customer focus-understanding customer needs and pain points.
-A passion to serve-companies and employees must be solution-driven and willing to break down organizational silos.
-Competitive spirit-generating and implementing new ideas in a desire to beat the competition.
-Teamwork and collaboration-most innovation comes from multiple employees and multiple ideas rather than from a single person in the organization with a single idea.
-Courage-the corporation’s environment must facilitate creative thinking and include a tolerance for challenging the norms.
-Listening-new ideas can be difficult to understand, and patience is necessary to allow the ideas to fully develop.
Fostering a culture of innovation is critical for the long-term success of any organization.
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