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MSI: Web Scraping for Consumer Insight “Nuggets”

One technique that offers a treasure trove of insights into consumer behavior is “web scraping.” Although worthwhile, using it to gather data requires a specific, methodological approach. Otherwise, validity is threatened. This MSI working paper addresses how researchers should go about web scraping in order to ensure design transparency, analytic reproducibility, analytic robustness, replicability and generalizability of effects.

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Web Scraping for Consumer Insight “Nuggets”

  • MSI

One technique that offers a treasure trove of insights into consumer behavior is “web scraping.” Although worthwhile, using it to gather data requires a specific, methodological approach. Otherwise, validity is threatened. This MSI working paper addresses how researchers should go about web scraping in order to ensure design transparency, analytic reproducibility, analytic robustness, replicability and generalizability of effects.

  • Article

NYCU: The Dangers of Cybersecurity for Marketers

Do new marketing strategies increase cyber risks? This report argues that cyber breaches are leaving organizations vulnerable, but that such dangers are ignored by many CMOs.   Media scrutiny, public awareness and customer concern about cyber threats is increasing. That’s because personal data compromises, identity theft and Internet fraud are on the rise across every sector of business, public and consumer life. As a result, digital security has become an issue of growing importance with significant implications for the relationship between brands and their customers, suppliers, partners and investors. There’s no question, multiplying challenges faced in today’s virtual enterprise, companies seek to secure and protect a distributed workforce, digitally dependent customers, at-risk supply chains, personally identifiable information (PII) and business continuity. Deloitte notes that “newer marketing strategies are likely opening the door to cyber risk, leaving organizations vulnerable to cyber breaches. Such attacks have the potential to compromise not only a brand’s reputation, negatively impacting loyalty and consumer trust, but also a brand’s ability to grow by acquiring new customers who may avoid a company that’s experienced a breach.” This is reinforced by a global outlook study by the CMO Council’s Getting It Done in 2021, which found that only 7% of 200 marketing leaders surveyed were concerned about brand safety and protection, despite greater investments in marketing automation. This lack of concern seems to contradict the latest security economic indicators:

  • Cybercrime is estimated to cost the world $10.5 trillion annually by 2025 (Cybersecurity Ventures)
  • There were over 10 confirmed data breaches a day in 2020 (Varonis reports, 3,950 in 2020)
  • The global average cost of a data breach is $3.86 million (IBM)
  • An average of 4,800 websites a month are compromised with form-jacking code (Symantec)
  • A business will fall victim to a ransomware attack every 11 seconds in 2021 (Herjavec Group)
  • According to the FBI, phishing was the most common type of cybercrime in 2020 — and phishing incidents nearly doubled in frequency, from 114,702 in 2019, to 241,324 incidents in 2020.
A data breach can tear a company’s bottom line to shreds and tarnish its brand reputation for years. Source: Neale-May, D. (2021, April 28). CMOs Need to Apply More Diligence to Cybersecurity Resilience. CMO Council.  

  • Article

NYCU: Smart TVs Are Getting Smarter

Samsung is among the hardware and operating system owners bringing “takeover ads” and other new ad forms to your TV screen, reports Digiday.  Samsung plans to give media companies a new means of promoting streaming services to their TV set owners. Roku and Amazon are also rolling out new ad products to tout programming on their platforms. How does it work? When a person first turns on their (2018 or later) Samsung smart TV — an ad thumbnail will appear in the first slot in the home screen menu. Hovering over the thumbnail will trigger the ad to expand on-screen and either display a static image or automatically play a video with the sound on. The ad format is only available to media and entertainment companies to promote their streaming services, such as running trailers for new shows or movies. Advertisers will have the option to buy out the ad placement so that everyone who turns on an eligible Samsung smart TV during a set period of time will see their ad, or they can target their campaign to specific audience segments via Samsung’s audience data. Samsung is not alone in rolling out new ad products to push audiences to find what to watch. Later this year, Roku plans to roll out a product called Roku Recommends, a brand-sponsored video that will feature a host highlighting shows and movies available across its CTV platform. Meanwhile, Amazon is testing a new, self-serve option in the U.S. of its Sponsored Display ad format that inserts a display ad on its Fire TV platform’s home screen for people to click. Doing so to install a streaming app, rent a movie or subscribe the user to an Amazon Prime Video channel. The current Samsung initiative builds on their free, ad-supported, streaming TV service called Samsung TV Plus, which has been built into Samsung smart TVs since 2016. Also, Samsung is starting to sell sponsorships to take over entire channels. An advertiser buying a Samsung TV Plus Editorial Channel Sponsorship will reserve the full ad inventory on one of Samsung’s owned-and-operated, 24/7 streaming channels. Advertisers’ interest in smart TV platforms has grown over the past year, as advertisers figure out how to follow audiences flocking from traditional TV to streaming.  As a result, many advertisers are turning to CTV platform owners like Samsung, Roku and Amazon, to round out their streaming ad buys and ensure they are reaching as many people as possible, especially since some of the most popular streaming services, like Netflix, are ad-free. Source: Peterson, T. (2021, April 26). Samsung pitches advertisers and streamers on ads that take over its smart TV platform. Business of TV: Digiday.

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NYCU: New Digital Media Trends

This survey gives new insights on streaming. It also shows that many viewers are looking for better access to information about video content – an issue that TV makers like Samsung, but also platforms like Roku and Amazon, are trying to address. Source: Oscar, M.  (2021, April 26). Video Streaming/Deloitte Report. HocusFocus.  

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CMO Brief: 2019 Organizational Benchmark Survey, The Advertiser Report

Advertising and market research have seen significant changes in the last couple of years. ARF members have been inquiring about different aspects of these changes. To answer their questions, the ARF Analytics Council developed the very first Organizational Benchmark Survey of the industry. The aim was to see how companies collect research data, what departments conduct research, how they organize around research and data, and, if small advertisers differ from large ones. Read more.

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KaH: The 2019 Organizational Benchmark Survey, The Advertiser Report

Advertising and market research have seen tremendous changes in the last couple of years. As a result, ARF members have been inquiring about different aspects of these changes, from what to call their departments to what tools and techniques are considered best practices. For instance, should it be called a “research department,” “data science” or “customer experience” department? Is it better to have a centralized or decentralized structure? Do such departments provide positive ROI, according to stakeholders? And should they use R, Python, SPSS or SAS?  Read more.

The 1st Annual Organizational Benchmark Survey—Advertiser Report (Summary)

The Organizational Benchmark Survey investigates the changes in advertising and marketing research over the past two years. This is the first of an annual series. The advertiser report covers a variety of subjects, including the name of advertisers’ research departments and their structures, spending and KPIs, what skills researchers need and what tools they employ, and even how satisfied they are with their department. Editor’s Note: The full report is available to members only.

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A Potential “Existential Crisis” In Martech

Editor’s Note: New perspectives from longtime CEO of the ANA Bob Liodice. Brands face an “existential crisis” as the implementation of marketing technology poses various challenges ranging from wasted spend to the possible erosion of consumer trust. That was the warning sounded by Bob Liodice, chief executive of the Association of National Advertisers. Marketers, he revealed, “have substantial concerns about the way that we are managing our martech investments and use of data.” More specifically, 49% of chief marketing officers in the US agree they do not have the “capabilities to maximise” the value of consumer data. Overall, marketers cited “‘lack of time’ and ‘lack of skilled staff’ as major impediments that stand in the way of marketing making better – and smarter – use of technology within their organisations. Consumers are wary about the usage of technology by marketers. “They don't trust us with their data,” Liodice said. “They don't trust us with ensuring that we are protecting them at all costs.” “The rest of it is a level of wrongdoing that is taking place in the marketplace. We don't have the ability to control [abuses], and that requires us to put in the necessary protocols, boundaries, and guardrails.” Source: WARC.  (2020, March 11). ANA chief warns of potential “existential crisis” in martech. WARC.    

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