tag:www.econsultancy.com,2008:/topics/big-data Latest Big data content from Econsultancy 2017-12-01T14:00:00+00:00 tag:www.econsultancy.com,2008:BlogPost/69629 2017-12-01T14:00:00+00:00 2017-12-01T14:00:00+00:00 The best digital marketing stats we’ve seen this week Nikki Gilliland <p>Before we crack on, there’s just time to remind you to download the <a href="https://econsultancy.com/reports/internet-statistics-compendium" target="_blank">Internet Statistics Compendium</a>. It’s got enough stats in it to last you till the new year. </p> <h3>Cyber Monday 2017 was the largest online sales day in US history</h3> <p>Adobe Insights has <a href="http://news.adobe.com/press-release/experience-cloud/adobe-data-shows-cyber-monday-largest-online-sales-day-history-659" target="_blank">revealed</a> the final sales tally for Cyber Monday came to a whopping $6.59bn, making it the largest online sales day in history in the US.</p> <p>Cyber Monday sales mark a 16.8% increase on last year, with overall web traffic to retail sites increasing by 11.9%. Black Friday also saw a rise in year-on-year sales, generating $5.03bn compared to $4.3bn in 2016.</p> <p>According to Hitwise, Amazon dominated the entire event, with data suggesting that out of the top 50 retailers in the US, it captured 54.9% of transactions (or 7.1m) on Black Friday alone.</p> <p>So what contributed to Amazon’s success? You can read <a href="https://www.econsultancy.com/blog/69614-amazon-won-thanksgiving-and-black-friday-as-retail-strategy-varied" target="_blank">more analysis on that here</a>.</p> <h3>Retailers miss out on mobile opportunity this Black Friday</h3> <p>Despite big numbers overall, <a href="http://blog.qubit.com/black-friday-trading-recap-beyond-mobile-inflection-point" target="_blank">Qubit has suggested</a> that mobile was a major factor in low revenue-per-visitor numbers in the UK this year. </p> <p>On the Friday itself, 36.5% of all revenue was from mobile - down 1.7% on last year. The average order value also fell 16.39% to £102, with online UK shoppers spending an average of £20.12 less than they did in 2016.</p> <p><img src="https://assets.econsultancy.com/images/0009/0849/Qubit.JPG" alt="" width="660" height="205"></p> <p>So, while most shoppers typically used mobile to browse, the channel only accounted for a third of retailer revenue. This perhaps suggests that retailers are depending too much on desktop conversion and failing to do enough to convert customers on mobile. </p> <p>Meanwhile, with mobile-friendly experiences provided by social media channels like Instagram and Pinterest, only retailers who put customers first will be able to compete.</p> <p><strong>More on Black Friday 2017:</strong></p> <ul> <li><a href="https://www.econsultancy.com/blog/69606-seven-email-strategies-used-by-10-retailers-on-black-friday" target="_blank">Seven email strategies used by 10 retailers on Black Friday</a></li> <li><a href="https://www.econsultancy.com/blog/69603-game-shows-risks-of-black-friday-downtime-despite-impressive-strategy" target="_blank">GAME shows risks of Black Friday downtime despite impressive strategy</a></li> </ul> <h3>UK lags behind US brands for customer experience</h3> <p>According to a new survey by KPMG Nunwood, the <a href="http://www.nunwood.com/excellence-centre/publications/uk-cee-analysis/2017-uk-cee-analysis/" target="_blank">UK is lagging behind</a> the US when it comes to delivering world-class customer experience. </p> <p>Ranking brands according to six metrics - personalisation, time and effort, resolution, integrity, expectations and empathy – the UK score fell from 7.33 to 7.08 this year. In contrast, the score for US brands rose from 7.42 to 7.75.</p> <p>The UK brand currently leading the way in customer experience is QVC, which scored 9% higher than the industry average for personalisation. It was also praised for its quick response on social media, and high level of customer empathy.</p> <p><img src="https://assets.econsultancy.com/images/0009/0852/KPG.JPG" alt="" width="650" height="299"></p> <p><strong>More on customer experience:</strong></p> <ul> <li><a href="https://econsultancy.com/blog/69576-river-island-s-head-of-customer-experience-on-the-brand-s-cx-strategy" target="_blank">River Island's head of customer experience on the brand's CX strategy</a></li> <li><a href="https://econsultancy.com/blog/69496-four-examples-of-automotive-brands-that-are-innovating-the-customer-experience" target="_blank">Four examples of automotive brands that are innovating the customer experience</a></li> </ul> <h3>63% of internet users stream music online</h3> <p>From a study of over 70,000 people in 40 countries, GlobalWebIndex has <a href="https://blog.globalwebindex.net/chart-of-the-day/1-in-4-spotify-users-pay-for-the-service/" target="_blank">found that 63%</a> of internet users now stream music online, with mobile being the most-preferred device for doing so. </p> <p>Perhaps unsurprisingly, it also revealed that Spotify is the most popular music streaming service (outside of China), with one in five internet users (or 22%) using it each month. </p> <p>Spotify’s global footprint is evident in its latest marketing campaign, where it makes use of rich user data to highlight perspectives on both music and cultural events. </p> <p>Drawing on streaming behaviour from its 60m paying subscribers – a milestone it reached in March of this year - it will run billboard ads in 18 markets featuring over 70 musical artists. Each one will depict ‘2018 goals’, such as ‘take a page from the 3,445 people who streamed ‘Boozy Brunch’ on a Wednesday.’</p> <p><img src="https://assets.econsultancy.com/images/0009/0850/Spotify_campaign.JPG" alt="" width="570" height="376"></p> <h3>B2B marketers look to the IoT and AI to revolutionise the customer experience</h3> <p>For B2B marketers looking ahead, Econsultancy’s <a href="https://econsultancy.com/reports/b2b-digital-transformation/">B2B Digital Transformation report</a> has revealed that the Internet of Things and AI are thought to be the most exciting prospects for 2020.</p> <p>The findings back up other research that suggests <a href="https://www.demandbase.com/press-release/marketing-executives-predict-artificial-intelligence-will-revolutionize-marketing-2020/" target="_blank">80%</a> of marketers predict artificial intelligence will revolutionise marketing in the next few years. Over a quarter of respondents cited connected devices and AI (i.e. chatbots) as the most exciting opportunities to come.</p> <p><img src="https://assets.econsultancy.com/images/0009/0851/B2B_trends.JPG" alt="" width="550" height="441"></p> <p><strong>More on B2B marketing:</strong></p> <ul> <li><a href="https://www.econsultancy.com/blog/69611-10-must-have-b2b-marketing-tools" target="_blank">10 must-have B2B marketing tools</a></li> <li><a href="https://www.econsultancy.com/blog/69512-b2b-digital-transformation-key-trends-recommendations" target="_blank">B2B digital transformation: Key trends &amp; recommendations</a></li> </ul> <h3>Marketers plan to increase video marketing in 2018 despite ongoing challenges</h3> <p>In a survey of 140 marketers from top US brands, Innovid <a href="http://www.innovid.com/press-releases/2017/11/27/innovid-releases-insights-from-survey-of-brand-marketers-on-video-marketing-strategies-and-expectations-for-2018" target="_blank">has found</a> that 79% plan to increase focus and overall spend on video marketing in 2018.</p> <p>Despite recognition that video is one of the most impactful and effective mediums, it appears many marketers are still facing several roadblocks to success. Innovid also found that just 6% would describe their organisations as innovative in video, with 45% of respondents saying they are uninformed about the costs associated with video ads. Meanwhile, 35% say they lack in-house video expertise, largely relying on agencies to create video assets instead.</p> <p>Interestingly, animation appears to be a rising trend in video marketing, as a number of brands look to the medium to create unique and emotive ads. Taco Bell is just one recent example, with its one minute and 40 second video so far generating over 1.1m YouTube views.</p> <p><iframe src="https://www.youtube.com/embed/VhwqKUfRSio?wmode=transparent" width="854" height="480"></iframe></p> <p><strong>To learn more about this topic, check out Econsultancy's <a href="https://econsultancy.com/training/courses/video-marketing-strategies" target="_blank">video marketing training</a>.</strong></p> tag:www.econsultancy.com,2008:BlogPost/69548 2017-10-27T16:26:00+01:00 2017-10-27T16:26:00+01:00 10 of the best digital marketing stats we’ve seen this week Nikki Gilliland <p>Please enjoy.</p> <h3>UK marketers eager to capitalise on data pooling</h3> <p>A new <a href="http://www2.criteo.com/vibrant-future" target="_blank">Criteo study</a> has revealed that most UK marketers think data pooling is a positive, with 76% of survey respondents agreeing that it offers a huge opportunity to improve the customer experience. </p> <p>Meanwhile, for UK marketers looking to boost multi-channel CX and sales, collaborative data pooling (i.e. the anonymous sharing of data sets) is also a growing priority. 83% of survey respondents think successful data aggregation can improve ease of purchase, while 75% believe it can lead to more relevant deals.</p> <p>UK marketers also appear much more eager to capitalise on pooled data, with 82% willing to contribute online search data to a pool compared to 71% of global respondents.</p> <h3>Ad fraud predicted to peak in Q4</h3> <p>According to <a href="https://www.whiteops.com/q4-ad-fraud-surge" target="_blank">White Ops</a>, half of all ad fraud in 2017 will take place as we head into the holiday season, leading to a potential $3.5bn in losses.</p> <p>Analysis of last year revealed that ad fraud spiked to 13.5% between October and January, which is more than double the previous quarter. It also found that fraud increased during key holiday periods, such as Black Friday and Cyber Monday.</p> <p><img src="https://assets.econsultancy.com/images/0009/0023/Ad_Fraud.JPG" alt="" width="780" height="379"></p> <h3>54% of travellers want better mobile tech on holiday</h3> <p>New research from <a href="https://www.apadmi.com/travel-report-2017/" target="_blank">Apadmi</a> has found that over half of travellers think the sector needs to offer customers more ways to utilise their mobile devices while on holiday.</p> <p>In a survey of 1,000 people who have taken a trip in the last 12 months, 50% said they want to see more mobile check-ins in airports, as well as the ability to check-in at hotels via mobile.</p> <p>37% of travellers also want a mobile digital hub containing all the travel information they need, e.g. for transport, accommodation and visitor attractions. Lastly, 38% would like better tools to help them with language translations, and a quarter would like to be able to use mobile payments more.</p> <h3>Seasonal product marketing generates 10% rise in email open rates</h3> <p>As Starbucks and other brands re-introduce Autumnal ranges, a Mailjet test found that email open rates rose 10% in instances where popular flavourings like pumpkin spice were mentioned. </p> <p>In the US, email subject lines mentioning pumpkin spice generated the highest open rate, with a 90% higher open rate than a regular email sent around the same time.</p> <p>Meanwhile, with Halloween on the horizon, Mailjet has found that marketers are successfully engaging consumers on the back on anticipation for the new Stranger Things series. Email open rates were 74% higher when the TV show was directly mentioned in the subject line.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Handcrafted. <a href="https://twitter.com/hashtag/MaplePecanLatte?src=hash&amp;ref_src=twsrc%5Etfw">#MaplePecanLatte</a> <a href="https://t.co/89fURSIOvu">pic.twitter.com/89fURSIOvu</a></p> — Starbucks Coffee (@Starbucks) <a href="https://twitter.com/Starbucks/status/918181475723259905?ref_src=twsrc%5Etfw">October 11, 2017</a> </blockquote> <h3>UK ad viewability hits 18-month high</h3> <p>According to the latest benchmark report from <a href="https://www.meetrics.com/en/benchmark-reports/" target="_blank">Meetrics</a>, UK ad viewability has hit its highest level for 18 months. </p> <p>In the third quarter of 2017, the amount of banner ads served that met minimum viewability standards rose from 51% to 52% – the highest level since Q1 2016. This also follows a rise from 47% to 51% in the previous quarter.</p> <p>Despite this, Meetrics says that the UK still lags behind other European countries on ad viewability. Italy and Austria lead the way, with 68% and 67% viewability respectively, while Switzerland and Poland are the closest to UK levels with 55%. </p> <p><img src="https://assets.econsultancy.com/images/0009/0024/Country_comparison_chart.PNG" alt="" width="774" height="534"></p> <h3>34% of APAC consumers visit Amazon each month</h3> <p>Research by GlobalWebIndex has revealed that Amazon is now in the top three commerce platforms in the regions of Asia-Pacific, Latin America, and the Middle East. </p> <p>Its latest report states that 34% of internet users in Asia Pacific are visiting Amazon each month, closing in on rival Alibaba, which draws in 42%.</p> <p>Globally, 75% of digital consumers are now purchasing at least one product online every month. However, APAC is the top region for purchasing online, with 77% of internet spend coming from India, 79% from Indonesia, and 83% from both South Korea and China. </p> <h3>Only 8% of consumers pre-order new products</h3> <p>With pre-orders starting on Apple’s iPhone X, HotUKDeals has been investigating how consumers spend on newly-launched products.</p> <p>Interestingly, just 8% of British consumers say that they usually pre-order new products, while 53% that they prefer to wait to see if the price drops before purchasing. 11% usually purchase at the time of launch (when products are available) and 29% say that it differs depending on the product.</p> <p>Consumers who generally pre-order new products tend to be younger shoppers, with 14% of 16 to 24-year olds doing so. Meanwhile, 9% of the people who usually pre-order are men, compared to 6% of women.</p> <h3>Halloween generates 260% spike in online traffic</h3> <p>New research from BazaarVoice suggests that Halloween is now viewed as the start of the holiday shopping season, with the event generating 260% more online traffic than normal, and steady increases taking place in the lead-up to Christmas.</p> <p>People are said to start planning their costume about six weeks before Halloween, with increased page views for costumes starting around the third week of September.</p> <p>Black Friday and Cyber Monday see the next largest spikes after Halloween, before a peak in the week before Christmas generating 800% more traffic than normal.</p> <p><img src="https://assets.econsultancy.com/images/0009/0021/BazaarVoice.JPG" alt="" width="450" height="518"></p> <h3>Increase in US children using mobile technology</h3> <p>A report by <a href="https://www.commonsensemedia.org/research/the-common-sense-census-media-use-by-kids-age-zero-to-eight-2017" target="_blank">Common Sense</a> has revealed that American children aged eight and under are spending more time than ever using mobile technology. </p> <p>Kids reportedly spend 48 minutes a day on mobile devices – up from just five minutes in 2011 – with 42% also owning their own tablet device, compared to just 1% in 2011. </p> <p>The report also states that 49% of children aged eight or under typically watch TV or play video games in the hour before bedtime, and 10% of this group have a ‘smart’ toy that connects to the internet or a voice-activated virtual device.</p> <p><img src="https://assets.econsultancy.com/images/0009/0022/Mobile_Devices.JPG" alt="" width="540" height="472"></p> <h3>Mobile consumers more willing to engage during holiday season</h3> <p>Finally, a new study by <a href="https://liftoff.io/resources/" target="_blank">Liftoff</a> suggests that mobile marketers should capitalise on low acquisition costs and high rates of engagement in the period of October to January.</p> <p>Research found that last December, acquisition was at a low of $54.63 while engagement rates were at 6.81%. In contrast, engagement fell to 5.4% at the beginning of March, with the cost to acquire users going on make a purchase rising to $65.06.</p> tag:www.econsultancy.com,2008:TrainingDate/3292 2017-10-26T13:16:37+01:00 2017-10-26T13:16:37+01:00 Google Analytics - Advanced <p>Research by Econsultancy has shown that over 70% of companies now use Google Analytics systems to report online performance. However, frequently the tool hasn't been configured to tailor reports to make full use of its capabilities and drive business results.</p> <p>This practical small group workshop will help you get the most out of Google Analytics to improve your tracking, website and marketing campaign efficiency. Submit your own site during the workshop, and you'll have an opportunity to have it reviewed, with recommendations on "quick win" improvements for you to consider made by the expert trainer.</p> tag:www.econsultancy.com,2008:TrainingDate/3289 2017-10-26T13:12:40+01:00 2017-10-26T13:12:40+01:00 Google Analytics <p>Research by Econsultancy has shown that over 70% of companies now use Google Analytics systems to report online performance. However, frequently once the tool is in place there seems to be a "what next" moment.</p> <p>This practical, small group workshop will help you to get started with Google Analytics, offering you plenty of practical tips and shortcuts.</p> <p>You'll learn how to get useful information from the tool so you can begin optimising your site, online marketing and content.</p> <p>Your website will also be viewed by an industry expert, who will make recommendations as to the best starting points for your own analysis.</p> tag:www.econsultancy.com,2008:BlogPost/69514 2017-10-24T12:00:00+01:00 2017-10-24T12:00:00+01:00 Why most of today’s DMPs are broken Chris O'Hara <p>The good news is most enterprises have taken a technological leap of faith, and embraced a data strategy to help them navigate our digital future. The bad news is, the systems they are using today are deeply flawed and do not produce optimal audience segmentation.</p> <h3>A little DMP history</h3> <p>Ten years ago, a great thing called the data management platform (DMP) started to power big publishers. These companies wanted to shift power away from ad networks (upon whom the publishers relied to monetize their sites) and give publishers the power to create relevant audiences directly for advertisers.</p> <p>By simply placing a bit of javascript in the header of their websites, DMPs could build audience segments using web cookies, turning the average $2 CPM news reader into a $15 CPM “auto-intender.” By understanding what people read, and the content of those pages,  DMPs could sort people in large audience “segments” and make them available for targeting. Now, instead of handing over 50% of their revenue to ad networks, publishers could pay a monthly licensing fee to a DMP and retain the lion’s share of their digital advertising dollars by creating their own segmented audiences to sell directly to advertisers.</p> <p>Marketers were slower to embrace DMP technology, but they quickly grasped the opportunity too. Instead of depending on ad networks to aggregate reach for them, they started to assemble their own first-party data asset—overlapping their known users with publishers’ segments, and buying access to those more relevant audiences. The more cookies, mobile IDs, and other addressable keys they could collect, the bigger their potential reach. Since most marketers had relatively small amounts of their own data, they supplemented with 3rd-party data—segments of “intenders” from providers like Datalogix, Nielsen, and Acxiom. </p> <p>The two primary use cases for DMPs have not changed all that much over the years: both sides want to leverage technology to understand their users (analytics) and grow their base of addressable IDs (reach). Put simply, “who are these people interacting with my brand, and how can I find more of them?” DMPs seem really efficient at tackling those basic use cases, until you find out that they were doing it the wrong way the whole time.</p> <h3>What’s the problem?</h3> <p>To dig a bit deeper, the way first-generation DMPs go about analyzing and expanding audiences is through mapping cookies to a predetermined taxonomy, based on user behavior and context. For example, if my 17-year-old son is browsing an article on the cool new Ferrari online, he would be identified as an “auto intender” and placed in a bucket of other auto intenders. The system would not store any of the data associated with that browsing session, or additional context. It is enough that the online behavior met a predetermined set of rules for “auto-intender” to place that cookie among several hundred thousand other “auto- intenders.”</p> <p>The problem with a fixed, taxonomy-based collection methodology is just that—it is fixed, and based on a rigid set of rules for data collection. Taxonomy results are stored (“cookie 123 equals auto-intender”)—not the underlying data itself. That is called “schema-on-write,” an approach that writes taxonomy results to an existing table when the data is collected. That was fine for the days when data collection was desktop-based and the costs of data storage were sky-high, but it fails in a mobile world where artificial intelligence systems crave truly granular, attribute-level data collected from all consumer interactions to power machine learning. </p> <p>There is another way to do this. It’s called “schema-on-read,” which is the opposite of schema-on-write. In these types of systems, all of the underlying data is collected, and the taxonomy result is created upon reading all of the raw data. In this instance, say I collected everything that happened on a popular auto site like Cars.com? I would collect how many pages were viewed, dwell times on ads, all of the clickstream collected in the “build your own” car module, and the data from event pixels that collected how many pictures a user viewed of a particular car model. I would store all of this data so I could look it up later. </p> <p>Then, if my really smart data science team told me that users who viewed 15 of the 20 car pictures in the photo carousel in one viewing session were 50% more likely to buy a car in the next 30 days than the average user, I would build a segment of such users by “reading” the attribute data I had stored.  This notion—total data storage at the attribute (or “trait”) level, independent of a fixed taxonomy—is called completeness of data. Most DMPs don’t have it.</p> <h3>Why completeness matters</h3> <p>Isn’t one auto-intender as good as another, despite how those data were collected?</p> <p>No.</p> <p>Think about the other main uses of DMPs: overlap reporting and indexing. Overlap reporting seeks to overlay an enterprise’s first party data asset with another. This is like taking all the visitors to Ford’s website, and comparing that audience to every user on a non-endemic site, like the Wall Street Journal. Every auto marketer would love to understand which high-income WSJ readers were interested in their latest model. But, how can they understand the real intent of users if they are just tagged as “auto intenders?” How did the publisher come to that conclusion? What signals contributed to having those users qualify as “intenders” in the first place? How long ago did they engage with an auto article? Was it a story about a horrific traffic crash, or an article on the hottest new model? Without completeness, these “auto intenders” become very vague. Without all of the attributes stored, Ford cannot put their data science team to work to better understand their true intent. </p> <p>Indexing, the other prominent use case, scores user IDs based on their similarity to a baseline population. For example, a popular women’s publisher like Meredith might have an index score of 150 against a segment of “active moms.” Another way of saying this is that indexing helps understand the “momness” of those women, based on similarity to the  overall population. Index scoring is the way marketers have been buying audience data for the last 20 years. If I can get good reach with an index score above 100 at a good price, then I’m buying those segments all day long. Most of this index-based buying happens with 3rd-party data providers who have been collecting the data in the same flawed way for years. What’s the ultimate source of truth for such indexing? What data underlies the scoring in the first place? The fact is, it is impossible to validate these relevancy scores with the granular, attribute-level data being available to analyze.</p> <p>Therefore, it is entirely fair to say that most DMPs have excellent intentions, but lack the infrastructure to perform 100% of the most important things DMPs are meant to do: understand IDs, and grow them through overlap analysis and indexing. If the underlying data has been improperly collected (or not there at all), then any type of audience profiling by any means is fundamentally flawed.</p> <p>Whoops.</p> <h3>What to do?</h3> <p>To be fair, most DMPs were architected during a time when it was unnecessary to collect data through a schema-on-read methodology—and extremely costly. Today’s unrelenting shift to AI-driven marketing necessitates this approach to data collection and storage, and older systems are tooling up to compete. If you want to create a consumer data platform (“CDP”), the hottest new buzzword in marketing, you need to collect data in this way. So, the industry is moving there quickly.</p> <p>That said, many marketers are still stuck in the 1990s. Older DMPs are somewhat like the technology mullet of marketing—businesslike in the front, with something awkward and hideous hidden behind. </p> <p>Beyond licensing a modern, schema-on-read system for data management so marketers can collect their own data in a granular way, there is another way to do things like indexing and overlap analysis well: license data from other data owners who have collected their data in such a way. This means going well beyond leveraging commoditized third-party data, and looking at the world of second-party data. Done correctly, real audience planning starts with collecting your own data effectively and extends to leveraging similarly collected data from others—second party data that is transparent, exclusive, and unique.</p> tag:www.econsultancy.com,2008:BlogPost/69516 2017-10-23T09:26:00+01:00 2017-10-23T09:26:00+01:00 10 important digital marketing stats we’ve seen this week Nikki Gilliland <p>Now, let’s get cracking.</p> <h3>Snapchat and Instagram ad spend up 73% and 55%</h3> <p>New data from 4C Insights has revealed that ad spend was up for both Snapchat and Instagram in Q3 2017, rising 73% and 55% respectively.</p> <p>There was a rise in paid media spend across the board, with a 31% quarterly increase on Facebook, Instagram, Twitter, LinkedIn, Pinterest, and Snapchat.</p> <p>Instagram Stories remains a particularly strong channel, generating 220% year-on-year spend growth. Elsewhere, Facebook ad spend grew 27%, travel sector spend on Twitter surged 250% for the quarter, and ad spend on Pinterest grew 33% over the course of the year.</p> <h3>60% of speciality retailers offer loyalty programs compared to 22% of brands</h3> <p>A new report by <a href="https://astoundcommerce.com/us/specialty/">Astound Commerce</a> suggests that specialty retailers are outperforming brands in almost all omnichannel categories.</p> <p>First, 60% of specialty retailers offer programs to inspire customer loyalty, while only 22% of brands have these capabilities. Second, ensuring prices are consistent across channels is more complicated for retailers with many different brands, yet 37% offer these capabilities compared to only 6% of global brands.</p> <p>Lastly, three in four specialty retailers have a mobile app, while less than a quarter of brands can say the same.</p> <p><img src="https://assets.econsultancy.com/images/0008/9797/Loyalty.JPG" alt="" width="760" height="323"></p> <h3>More than half of Brits plan to buy Christmas gifts online</h3> <p>The latest <a href="https://www.salesforce.com/uk/form/industries/connected-shopper-report-2017.jsp?nc=7010M000000uIke&amp;d=7010M000002MOCH" target="_blank">report</a> from Salesforce suggests that the majority of Brits will be shopping online this Christmas. It found that 56% (or nearly three out of five Brits) plan to do half or more of their holiday shopping via the internet.</p> <p>Alongside a frustrating in-store customer experience, this could be due to online shopping allowing consumers to become increasingly informed. So much so that 56% of Brits claim to typically know more about a product than the store employee.</p> <p><img src="https://assets.econsultancy.com/images/0008/9793/Salesforce.JPG" alt="" width="780" height="216"></p> <h3>Nearly one in seven companies unprepared for GDPR</h3> <p><a href="https://dma.org.uk/research/the-gdpr-and-you-chapter-four" target="_blank">DMA research</a> has revealed that 15% of companies still have no plan in place to be ready for the new GDPR laws by May 2018.</p> <p>While 77% of marketers now rate their awareness as ‘good’, and 74% describe themselves as feeling somewhat or extremely prepared for the changes, this drops to 58% when it comes to their organisation being ready. </p> <p>Meanwhile, it also appears as if worries are increasing as time goes on. 42% of marketers now feel their business will be “very affected” by the new laws and a further 22% feel they will be “extremely affected”. Lastly, 65% of those surveyed agree that the GDPR will be a hindrance to their marketing.</p> <p><em>Check out our hub page to learn more about <a href="https://econsultancy.com/hello/gdpr-for-marketers/">how GDPR will affect marketers</a>.</em></p> <h3>98% of UK consumers believe in ‘bad personalisation’ </h3> <p>Research by Sitecore and <a href="https://www.vansonbourne.com/client-research/14121601jd" target="_blank">Vanson Bourne</a> has found that brands are failing to use customer data to deliver relevant and personalised customer experiences. In fact, a whopping 98% of UK consumers say that they believe ‘bad personalisation’ exists, with a further 66% believing brands are using out-of-date information about them.</p> <p>While brands say they’re collecting eight different types of data about online customers, 18% of them recognise that they lack the skills needed to properly use or analyse the data collected. </p> <p>Meanwhile, 42% don’t have the capabilities to integrate data collection and only 18% have the ability to collect online data on an individual (vs. consumer segment) level.</p> <p><img src="https://assets.econsultancy.com/images/0008/9791/Sitecore.JPG" alt="" width="650" height="618"></p> <h3>Click and Collect is driving additional in-store sales</h3> <p>A new report by <a href="http://now.jda.com/European-Customer-Pulse-Report-EMEA.html?srcid=jda-pr" target="_blank">JDA &amp; Centiro</a> suggests that click &amp; collect can be a pivotal driver for additional in-store sales. In a survey of more than 8,000 consumers across the UK, Germany, France and Sweden, 24% of European adults said that they have bought additional products while picking up their item from a physical retail store.</p> <p>UK consumers are particularly ahead of the curve in this area. 54% of UK shoppers say they have used it in the last year, compared to 42% for the European average.</p> <p>Despite this growing convenience, however, many consumers are still reporting frustrations over the online shopping experience. 55% of European adults say they have experienced a problem with an online order at some point in the last 12 months.</p> <h3>Consumers in developed countries are more suspicious of brands</h3> <p>Kantar TNS’s latest research has revealed that consumers in the UK and US are growing increasingly suspicious of brands, while those in emerging countries are more accepting of brand content and messaging.</p> <p>In China and Nigeria, 57% and 54% of consumers trust big global brands, however this falls significantly in developed markets like the USA and France, where just 21% and 15% trust big global brands.</p> <p>This ‘consumer trust divide’ was highlighted in a survey of 70,000 people across 56 countries. It also found that many consumers are choosing privacy over convenience, with 43% of global consumers objecting to connected devices monitoring their activities – even if it makes their lives easier.</p> <p><img src="https://assets.econsultancy.com/images/0008/9792/Kantar.JPG" alt="" width="780" height="390"></p> <h3>Majority of users happy with Twitter’s longer format</h3> <p>How do people feel about Twitter’s new 280-character limit?</p> <p>According to a survey by <a href="https://morningconsult.com/2017/10/13/u-s-adults-likely-favor-twitters-280-character-expansion/" target="_blank">Morning Consult</a>, people are largely positive, with 41% of users aged 18-29 responding well to the change, and just 14% expressing reservations.</p> <p>Similarly, 30% were somewhat supportive of longer-format tweets, while 17% said the increased character limit made them more likely to tweet themselves. 20% also agreed that they would be more likely to check Twitter for news about current events as a result of the change.</p> <p><img src="https://assets.econsultancy.com/images/0008/9796/Twitter.JPG" alt="" width="740" height="579"></p> <h3>Adspend on video ads overtake banners ads</h3> <p>The <a href="https://www.iabuk.net/research/digital-adspend" target="_blank">Internet Advertising Bureau UK</a> has reported that in the first half of the 2017, advertisers spent more on video ads than banner ads for the first time.</p> <p>Total digital adspend grew 13.8% to £5.56bn in the first six months of the year compared to the same period a year earlier. However, spending on online video ads grew at 46% to reach £699m, while spend on banner ads slowed to just 2%, reaching £685m.</p> <p>Video is now said to be the fastest-growing ad format, accounting for 35% of all spend going on display advertising. Meanwhile, display advertising as a whole grew 18% to £2bn.</p> <h3>Consumers think brands have a responsibility to break gender stereotypes</h3> <p>Finally, a <a href="http://blog.choozle.com/category/other/">Choozle</a> survey has delved into consumer sentiment on the usage of gender stereotypes in digital advertising, and whether or not it affects purchasing decisions.</p> <p>The results indicate that consumers feel it should be the brand’s responsibility to break down gender stereotypes, with 37% of people agreeing that the industry should not use them.</p> <p>Similarly, 36% of respondents said they like a brand more when it runs advertisements that break stereotypes and 25% said they are more likely to purchase from that brand. </p> <p><img src="https://assets.econsultancy.com/images/0008/9799/Gender_stereotypes.JPG" alt="" width="760" height="378"></p> tag:www.econsultancy.com,2008:TrainingDate/3251 2017-10-23T09:23:27+01:00 2017-10-23T09:23:27+01:00 GDPR Essentials for Marketers - Online <p>At Econsultancy, we're not just trainers; we're also passionate researchers, analysts, consultants and most importantly, practitioners. And that means the insight and content available to you in our online training will be completely up to date and relevant.</p> <p>This online course will help you learn everything you need to know about the General Data Protection Regulation (GDPR) before it comes into force in May 2018, and crucially: what to do about it.</p> tag:www.econsultancy.com,2008:BlogPost/69515 2017-10-20T10:21:10+01:00 2017-10-20T10:21:10+01:00 The changing consumer landscape: How brands can keep up with sky high customer expectations Nikki Gilliland <p>Ray was just one of the speakers at this year’s <a href="http://events.sap.com/sap-hybris-global-summit/en/home">SAP Hybris Live event</a> in Barcelona, as well as one of many people to mention the ‘L’ word. The subject of loyalty came up a lot, along with the many other ways digital technology is transforming the consumer landscape.</p> <p>Here’s a little more on the topic, along with the rest of the biggest talking points and trends from the conference.</p> <h3>It’s all about the experience</h3> <p>Before we get onto loyalty, it’s important to think about what defines the modern consumer, and what it is they want. Carsten Thoma, the President of SAP Hybris, put this into context by comparing today’s fashion consumer with that of around 20 years ago.</p> <p>He mentioned how consumers used to have to wait months for catwalk trends to trickle down into stores. Now, people are now blogging and tweeting directly from the runway, turning real-time moments into digital content. At the same time, brands are turning catwalk <a href="https://econsultancy.com/blog/68305-runway-to-retail-how-fashion-brands-are-introducing-see-now-buy-now/">shows into products</a> as soon as possible, bypassing the traditional structure of the fashion retail calendar.</p> <p><em><img src="https://assets.econsultancy.com/images/0008/9786/Runway_to_Retail.JPG" alt="" width="780" height="338"></em></p> <p><em>(Burberry's <a href="http://www.confashionsfromkuwait.com/2010/09/retail-theatre-from-runway-to-reality.html">retail theatre</a> concept)</em></p> <p>This is great from a consumer perspective, allowing shoppers to get their hands on clothes as soon as possible. But while the ‘I want it all, I want it now’ millennial stereotype sounds somewhat brattish, it fails to highlight the perhaps more pertinent millennial desire – that of experiences over material possessions or products. </p> <p>Interestingly, there has been a reported 50% decline in young people getting their drivers licence in the US over the past few years. Why is this the case? Well, alongside the aforementioned lack of desire for 'things' (especially products as status symbols), the rise of the sharing economy has taken away the need. </p> <p>Companies like Uber (controversies aside) have demonstrated how delivering a seamless experience can entirely disrupt traditional industries. In other words, millennials simply do not care about buying a car if there is an even more convenient way they can get from A to B.</p> <blockquote> <p>If you get hit by the amount of information and technology that is available to us today, you have got to make space somewhere else. This is what millennials are doing. And guess what? This change in behaviour is the most fundamental change in how you can sell to them. </p> </blockquote> <h3>Winning in an attention economy</h3> <p>But have companies like Uber and Amazon created an impossibly high set of expectations? For brands trying to compete, this is undoubtedly true. Today’s consumers are now so used to a certain type of brand that, like Ray Wang said, if they don’t get the service they expect they will go elsewhere. </p> <p>So, how can brands generate loyalty in a “post-sale, on-demand, attention economy”? One answer is mass-personalisation. By understanding the context of the consumer – e.g. factors like their identity, location, and sentiment – brands can reach out in a more relevant way. Second is the ability to give choices, which is increasingly important in a digital world. </p> <p>“Every choice is a demand signal”, according to Ray, which means it’s not about predicting what the customer might do in that moment, but anticipating what they will also want in the future (before they even recognise it themselves). </p> <blockquote> <p>If you're not delivering mass-personalisation, you're irrelevant, you're noise, you're junk mail. Brands have less than a second to capture consumers' attention with something contextually relevant.</p> </blockquote> <p>Alongside personalisation, the general consensus at SAP Hybris Summit was that both attention and loyalty do not just come from one-off experiences, but a relationship that’s built over time based on ‘magical moments’ along the customer journey. </p> <p>For example, it’s not good enough to deliver as quickly as Amazon. To win, brands need to match its service at every touchpoint, including checkout, brand communication, logistics, and post-sale recommendations. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">When your Razer mouse breaks and <a href="https://twitter.com/amazon?ref_src=twsrc%5Etfw">@amazon</a> comes in clutch with same-day delivery! <a href="https://t.co/F4cW2Ddhel">pic.twitter.com/F4cW2Ddhel</a></p> — Zach Church (@MediocreJack) <a href="https://twitter.com/MediocreJack/status/920778686881726465?ref_src=twsrc%5Etfw">October 18, 2017</a> </blockquote> <h3>The world as a computer </h3> <p>Another of the most interesting talks at this year’s event was delivered by futurist and researcher Sophie Hackford. She spoke about how digital technology will shape the consumer landscape of tomorrow.</p> <p>Sophie believes that “we’re no longer connected, but moving into an age of entanglement” – which essentially means that we will have to navigate the world as a computer, and it is up to us (as both brands and consumers) to decide what we what to do with it.</p> <p>Data is undoubtedly the biggest opportunity; however, it seems that new information isn’t only coming from the world around us, but also from space. So-called ‘astro-preneurs’ are creating satellites and sensors to generate a high resolution of earth, which they can then sell on as data to companies of all kinds, ranging from human rights groups to retailers and tech companies.</p> <blockquote> <p>Why? These companies want visibility of all human and all physical phenomena going on on this planet.</p> </blockquote> <p>But how is this relevant in the context of brands and consumers?</p> <p>Let’s take the recent example of the Amazon and Whole Foods deal, and how the former brand might establish how much the acquisition should be worth. One way would be to use a company like Orbital Insight, which generates data from satellites. It sounds somewhat crude, but by watching how many cars are going in and out of Whole Foods car parks, a prediction can be made about the brand’s sales forecast – as well as its competitors.</p> <p><img src="https://assets.econsultancy.com/images/0008/9787/Car_Parks_space.JPG" alt="" width="650" height="504"></p> <p>While this is just a hypothetical example, some companies have already started to unlock the potential of satellite data. Take Uber, for instance, which works with DigitalGlobe to help identify and improve pick-up and drop-off locations via satellite imagery. In future, the autonomous vehicle will undoubtedly use this type of technology to navigate cities. Meanwhile, roofing companies can now give you estimates and energy companies can tell you how much solar potential you have, without ever needing to visit your home.</p> <p>Altogether, this highlights the extent to which brands will be able to access consumer insight in future. Privacy concerns aside, it undoubtedly means that those aforementioned consumer expectations will also continue to skyrocket. </p> <p><strong><em>Now read:</em></strong></p> <ul> <li><em><a href="https://www.econsultancy.com/blog/69504-three-promising-signs-that-companies-are-finally-starting-to-appreciate-cx" target="_blank">Three promising signs that companies are finally starting to appreciate CX</a></em></li> <li><em><a href="https://www.econsultancy.com/blog/69269-17-stats-that-show-why-cx-is-so-important" target="_blank">17 stats that show why CX is so important</a></em></li> </ul> tag:www.econsultancy.com,2008:BlogPost/69424 2017-09-20T11:47:17+01:00 2017-09-20T11:47:17+01:00 Marketers have more data than ever, so why aren’t they better at experimentation? Frederic Kalinke <p>As marketing is being transformed by advances in our ability to collect and manage data, the industry is becoming more ‘scientific’. This is why every day it becomes more important for marketers to heed Feyerabend’s advice.</p> <h3>A hypothesis about data</h3> <p>The crucial element in the recent evolution of marketing has been data. The collection of comprehensive data about customers and their behaviour promised marketers unprecedented insight into the effectiveness of their efforts, including of course <a title="How retail marketers can ensure they deliver the ‘right’ customer experience" href="https://econsultancy.com/blog/67526-how-retail-marketers-can-ensure-they-deliver-the-right-customer-experience/" target="_blank">where they should spend more</a> and where they had been wasting their budget.</p> <p>Consequently, marketing began to worship at the altar of data, eventually giving rise to the fascination with the nebulous “<a title="Ten Ways Big Data is Revolutionizing Marketing and Sales" href="https://www.forbes.com/sites/louiscolumbus/2016/05/09/ten-ways-big-data-is-revolutionizing-marketing-and-sales/1" target="_blank">big data</a>.” Marketers now have the ability to collect data on almost anything they want.</p> <p>The fact that the underlying principles of marketing have remained much the same throughout this process (sell more stuff by putting what you’re selling in front of the right people in the right way) therefore begs the question: <strong>Why aren’t marketers doing better?</strong></p> <h3>How not to do things with data</h3> <p>Marketers have been getting their relationship with data the wrong way round. Simply, the answer is never in the data. In fact, the best way to get answers is to forget about the data.</p> <p>In scientific inquiry, trawling through existing data is rarely conducive to innovation. Trying to piece new things together from the mass of what you already know is an aimless, hopeless endeavour. You become a prisoner of conventional wisdom, reaching ever narrower, less original conclusions, with an increasing likelihood of being wrong.</p> <p>Scientific research shares at least this much in common with marketing. For example, we have data on the most shared headlines for content marketing. (<a title="We Analyzed 100 Million Headlines. Here's What We Learned." href="http://buzzsumo.com/blog/most-shared-headlines-study" target="_blank">Buzzsumo collated 100 million of them</a>.)</p> <p><img src="https://assets.econsultancy.com/images/0008/9053/buzzsumo.jpg" alt="" width="750" height="900"></p> <p>According to the data the top three-word phrases to use in article headlines for maximum shares are “will make you,” “this is why,” and “can we guess.” Widely-shared articles also begin with “X reasons why” or “X things you,” and very frequently include appeals to emotion.</p> <p>However, as Marketing Profs’ Ann Handley correctly noted in response, marketers should not “take this information and conclude that the best headline to use forever and always is something like 10 Ways That Will Make You a Better Headline Writer (and You Won’t Believe What Happens Next!).”</p> <p>What this demonstrates is a problem with attempting to draw useful conclusions from data alone. While there are many things we can conclude from Buzzsumo’s impressively comprehensive analysis, not many of them are useful for content marketers attempting to come up with headlines.</p> <p>In fact, Handley gets it absolutely right when she urges marketers to “get a little creative with headlines.” Not only will different types of headlines work differently in different contexts (we cannot all be Buzzfeed, and we definitely should not try to be) but it is only by being creative that we actually end up writing better headlines.</p> <p>Simply mimicking the headline formats that currently work well will create not only an artificial ceiling over how successful content can be, but suffers inevitably from <a title="Regression towards the mean" href="https://www.socialresearchmethods.net/kb/regrmean.php" target="_blank">regression towards the mean</a>. This is what happens when marketers limit themselves according to convention.</p> <p>If the answer is clickbait, you asked the wrong question.</p> <h3>How to do things with data</h3> <p>A marketer trying to come up with more effective headlines for her content does not need an answer to the question, “what are the most popular phrases in headlines?”, she needs an answer to a specific question, “is my content going to perform better if I use this phrase or that phrase?”</p> <p>These questions are easy to confuse. The crucial difference is that our hypothetical marketer cannot use the answer to the first question to make any sort of conclusion about how to act. She will simply learn more about what has worked for others and be restricted to coming up with derivative ideas.</p> <p>Just because something worked for somebody else, it does not mean it will work for you. And when it comes to the over-saturated world of online content, the fact that something worked for somebody else means precisely that it is less likely to work for you.</p> <p>It is the second question, a specific one about some actual ideas, that represents the best way to go about dealing with this problem. It is a practical question that makes data useful and this is because it puts new ideas ahead of old conventions.</p> <h3>What does genuinely experimental marketing look like?</h3> <p>A particularly clear recent example of this is <a title="Why AS Roma revel in being the weirdest football club on social media" href="http://www.thedrum.com/news/2017/08/31/why-roma-revel-being-the-weirdest-football-club-social-media" target="_blank">AS Roma’s successful approach to social media video</a>. In an industry where <a href="https://econsultancy.com/blog/68696-digital-transformation-in-the-premier-league-southampton-fc-s-fan-first-strategy/">all the major football clubs</a> (and a lot of the minor ones) are stepping up their digital marketing and where almost every player transfer is announced with slick professional video on social media, Roma succeeded by doing something different.</p> <blockquote class="twitter-tweet"> <p lang="und" dir="ltr"><a href="https://twitter.com/hashtag/Schick?src=hash">#Schick</a> <a href="https://twitter.com/hashtag/ASRoma?src=hash">#ASRoma</a> <a href="https://t.co/JAIvKGYS7P">pic.twitter.com/JAIvKGYS7P</a></p> — AS Roma English (@ASRomaEN) <a href="https://twitter.com/ASRomaEN/status/902546975681388544">August 29, 2017</a> </blockquote> <p>These idiosyncratic videos embody Feyerabend’s “only principle that doesn’t inhibit progress.” Where their competitors acted like sheep, <a title="Roma fan explains latest transfer announcement video on Twitter" href="http://www.asroma.com/en/news/2017/8/roma-fan-explains-latest-transfer-announcement-video-on-twitter-" target="_blank">Roma chose goats</a>. They forgot about the data on what worked for their competitors and instead asked “what if we do something else?” They chose to experiment.</p> <p>As the categories of data available to marketers have multiplied, the possibilities for experimentation have grown exponentially. However, in practice this has not led to the proliferation of a diverse range of experimental approaches to marketing. Instead, there has been a succession of “next big things” (such as <a title="How AI will impact marketing and the customer experience" href="https://econsultancy.com/blog/68722-how-ai-will-impact-marketing-and-the-customer-experience" target="_blank">AI</a>), which seem to sweep the industry each year. The prospective benefits of each of these potential innovations and the specific uses for them end up being submerged by the hype. Brands frantically attempt to emulate their competitors to avoid being seen as technological laggards. The appearance of innovation trumps real experimentation.</p> <p>This is because too much marketing data is not collected with a specific purpose, it is simply collected in a way that encourages marketers to emulate their competitors and reinforce the status quo. A successfully experimental approach to marketing therefore requires marketers to put their own creativity first.</p> <h3>How to experiment in marketing</h3> <p>Professor Byron Sharp recently mentioned how important it is for marketers to learn how to run “<a title="Ritson and Sharp reveal their marketing heroes and the biggest challenges facing the industry" href="https://www.marketingweek.com/2017/09/04/ritson-sharp/" target="_blank">proper controlled experiments</a>,” something which most formal business educations dearly lack. He is correct that experiments are only useful if they are carried out according to rigorous scientific principles (with control variables and so on).</p> <p>This emphasises the connection between the scientific and creative aspects of experimentation; marketers cannot truly have one without the other. They therefore require a consistent experimental method that can be applied repeatedly and which maintains a complementary relationship between data and innovation.</p> <p>First, an experimental method requires marketers to come up with hypotheses, i.e. “I think our content might perform better with this sort of headline” or “I think our social media engagement would be improved with this sort of video.”</p> <p>It then requires marketers to collect data for the specific purpose of testing a hypothesis. Generally this is done through A/B testing (and specifically with <a title="Using data science with A/B tests: Bayesian analysis" href="https://econsultancy.com/blog/65755-using-data-science-with-a-b-tests-bayesian-analysis/" target="_blank">Bayesian statistical inference</a> rather than frequentist statistical inference, given that it is <a title="What is Bayesian A/B Testing and Why is it the Best Choice for Marketers?" href="https://amigotechnology.com/blog/what-is-bayesian-ab-testing-for-marketing?ast=C8zHl9" target="_blank">better suited to getting answers quickly</a>). This approach to data allows it to inform marketers’ hypotheses in a way that complements their creativity rather than inhibits it.</p> <p>This process of testing hypotheses can then be repeated in an iterative cycle that allows marketers to try out as many new ideas as possible in order to increase the chances of a major breakthrough. This process aligns neatly with the concept of <a title="What is Agile Marketing?" href="https://amigotechnology.com/what-is-agile-marketing" target="_blank">agile marketing</a>, which perhaps goes some way towards explaining the current vogue for that term.</p> <h3>The balance of power</h3> <p>Technological advance has given marketers access to invaluable quantities of information and as a result marketing and data have become intensely-linked. However the outstanding question about this relationship is simple. Who is in charge?</p> <p>Is marketing led by the hackneyed conventional wisdom represented by existing data or is it led by marketers’ own creativity and critical thinking? Where the balance of power leans towards the data, marketers are inhibited. Where it lies with the marketers, the data can yield genuinely useful conclusions and help marketers to come up with their next great idea.</p> <p><strong><em>Need to improve your own content marketing efforts? Book yourself onto one of Econsultancy's <a href="https://econsultancy.com/training/courses/topics/content-marketing-and-strategy">upcoming training courses</a>.</em></strong></p> tag:www.econsultancy.com,2008:BlogPost/69425 2017-09-15T12:02:00+01:00 2017-09-15T12:02:00+01:00 10 remarkable digital marketing stats we’ve seen this week Nikki Gilliland <p>Get stuck in…</p> <h3>Live stream engagement is on the rise</h3> <p>According to <a href="http://blog.globalwebindex.net/chart-of-the-day/the-rise-of-live-streaming-2/" target="_blank">GlobalWebIndex</a>, the amount of users engaging with live streams on social media has increased nearly 10%.</p> <p>Now, 28% of internet users have watched a live stream on Facebook, Instagram or Twitter in the past month – up from 20% in Q3 2016. </p> <p><img src="https://assets.econsultancy.com/images/0008/8992/GlobalWebIndex.JPG" alt="" width="720" height="540"></p> <h3>Data usage increases while lack of transparency remains high</h3> <p>A <a href="http://media2.bazaarvoice.com/documents/more-data-more-Problems-ebook.pdf?utm_source=press%20release&amp;utm_medium=PR&amp;utm_campaign=Ad%20Age%20Research" target="_blank">new study</a> by Bazaarvoice and AdAge has revealed how digital marketers view the impact and credibility of data partnerships. </p> <p>Despite an increase in data usage, it found that there is still a lack of transparency, with both the sources and quality of the data being misunderstood and mistrusted by marketers.</p> <p>While 95% of the marketers surveyed said that they employ first- and third-party data in their media plans, 64% are unsure about the origins of their data sources. What’s more, one quarter of brand marketers do not know how often their data sources are refreshed. </p> <p>Lastly, three out of four marketers said they are not confident that their data is reaching in-market consumers, and just 23% of agency buyers are fully confident that their third-party data partners deliver against KPIs.</p> <h3>Only 17% of new leads are converted as sales &amp; marketing teams struggle to align</h3> <p>A new study by <a href="https://www.dnb.co.uk/marketing/media/state-of-sales-acceleration.html" target="_blank">Dun &amp; Bradstreet</a> has revealed that there is huge disconnect between sales and marketing teams, with just 17% of new leads being converted into revenue as a result. </p> <p>57% of marketers say that understanding their target audience is a big challenge, and 56% say that an inability to find relevant and complete data holds them back.</p> <p>Meanwhile, 24% of salespeople say they don’t have enough time to research potential customers, and 35% say they are under more pressure to provide value in a digitally-led business.</p> <p><img src="https://assets.econsultancy.com/images/0008/8991/Dun_and_Bradstreet.JPG" alt="" width="423" height="438"></p> <h3>72% of consumers turn to Amazon to research products</h3> <p>According to <a href="https://kenshoo.com/e-commerce-survey/" target="_blank">Kenshoo</a>, Amazon is playing an increasing role in shopping discovery, as 72% of people say they visit Amazon to research products online.</p> <p>26% of Amazon users also admit to checking for alternatives, background information, and prices on the site when they are thinking about making a potential purchase in a physical store. Meanwhile, 51% say they usually refer back to Amazon to find out additional product information or to compare prices – even if they’re happy with the offering on another retail site.</p> <p>Lastly, 9% say that they often share interesting products that they find on Amazon with friends, colleagues, and family.</p> <h3>Millennials spend more time watching time-shifted content than live TV</h3> <p><a href="https://www.cta.tech/News/Press-Releases/2017/August/Millennials-Now-Watch-More-Time-Shifted-Content-Th.aspx" target="_blank">CTA</a> (Consumer Technology Association) has revealed that millennials’ interest in live TV is dwindling, with this demographic dedicating more time to watching content after it’s already aired.</p> <p>Millennials are now dedicating 55% of their TV-watching activity to ‘time-shifted’ content – either on streaming sites or on-demand platforms – compared to 35% of people aged over 35. </p> <p>Additionally, millennials are more likely to try content recommended by predictive recommendations, with 79% saying they've watched shows that have been suggested for them.</p> <p><img src="https://assets.econsultancy.com/images/0008/8990/CTA.JPG" alt="" width="491" height="491"></p> <h3>Personalisation generates 50% higher email open rate</h3> <p>A new report by <a href="http://www.yeslifecyclemarketing.com/campaign/benchmarks/vwo-subject-line-benchmarks" target="_blank">Yes Lifecycle Marketing</a> has revealed that brands are failing to use personalisation in email subject lines, despite a proven increase in open rates.</p> <p>It found that messages with personalised subject lines generated a 58% higher click-to-open (CTO) rate than emails without. However, just 1.1% of all emails sent in Q2 2017 had personalisation based on name in the subject line, while 1.2% were personalised based on other factors like browser behaviour or purchase history. </p> <p>In contrast, it appears marketers are largely focusing efforts on welcome messages, with 69% sending this type of email.</p> <h3>82% of global marketers say that predictive marketing is essential</h3> <p>Forrester’s <a href="https://rocketfuel.com/tlp/" target="_blank">latest study</a> has found that the majority of global marketers believe predictive marketing is essential.</p> <p>66% of marketers in a survey said that their customer and marketing data comes from too many sources to make sense of it. Consequently, 82% said predictive marketing is essential to keep up with competitors in future.</p> <p>The survey also found that 86% of global marketers plan to increase the use of AI to drive marketing insights in the next 12 months, and 80% said they will use AI to deliver consistent, optimised, cross-device content.</p> <p><img src="https://assets.econsultancy.com/images/0008/8988/Forrester.JPG" alt="" width="318" height="570"></p> <h3>Half of millennials prefer sales outreach via social media</h3> <p>Research by <a href="https://getbambu.com/data-reports/q3-2017-how-to-optimize-for-social-selling/" target="_blank">Bambu</a> has revealed that millennials are keen to use social media to learn about new products and services, with 45% of this demographic more likely to prefer sales outreach via social than older generations.</p> <p>Bambu also found that 35% of people are more likely to buy from a sales representative who shares industry news and helpful content on social, and 22% say that this activity makes them more likely to follow that representative on social.</p> <p>Social selling is clearly more favourable than traditional methods such as cold-calling – just 9% of consumers say that the phone is their preferred way to hear from a company for the first time.</p> <p><img src="https://assets.econsultancy.com/images/0008/8987/Bambu.JPG" alt="" width="720" height="467"></p> <h3>81% of retailers anticipate a future as a media company</h3> <p>According to <a href="http://go.brightcove.com/marketing-future-of-retail" target="_blank">Brightcove</a>, an increasing number of brands are taking on traditional broadcasters by producing long-form, TV-style content. As a result, 81% of retailers say they anticipate transitioning into fully-fledged media companies in future.</p> <p>From a study of 200 retail businesses in the UK, France, and Germany, Brightcove found that 61% are already offering TV-style content services, and a further 33% have plans to do so within the next two years.</p> <p>There could be resistance from consumers, however, as Brightcove also found that 41% of consumers who have previously watched this kind of content say it is too ‘salesy’, while 30% say it is inauthentic.</p> <h3>Only 9% of people visit high-street travel agents</h3> <p>Finally, <a href="https://www.apadmi.com/travel-report-2017/" target="_blank">Apadmi</a> suggests that the high-street travel agent could be under threat, as just 9% of UK holidaymakers say they now visit travel agents in person to book their holiday. This comes from a survey of 1,000 people who have gone on holiday in the past 12 months.</p> <p>The study also revealed that just 4% of 18-24 year olds have visited their high street travel agents in recent times, while this rises to 18% for people over the age of 65.</p> <p>It’s not all gloom and doom for travel agents though. Apadmi also found that an increase in technology would attract consumers back to the high street, with 48% saying they would like to see travel agents invest in augmented reality and virtual reality so they can view destinations, hotels or transport in store.</p>