7 Digital Marketing Insights We Didn’t Know Last Week
This past week has been a whirlwind of new insights into the world of digital marketing - from the good, the bad, to the downright surprising.
We’ve seen some revelations about how marketers feel about their efforts to communicate with audiences. And the key concerns that impact whether or not a consumer trusts a brand - including the consequences of what happens when they don’t.
So without further ado, here are five facts about digital marketing we didn’t know last week.
1. 45% of marketers aren’t confident in their ability to engage with customers online and on social media
According to the latest research from the Chief Marketing Council, nearly half of all marketers believe they lack the requisite tools and skills to effectively communicate with customers on multiple digital platforms.
Perhaps even more shockingly, only 19% believed they were very good or extremely good.
The study strongly suggests that a high proportion of marketers must do more to keep up to date with the latest industry trends and technologies. This includes cloud and mobile engagement - one of the key issues that faced marketers the most.
2. 58% of marketers will prefer to work with media owners, not media agencies, in the next five years
Media owners, like Netflix and Facebook, are tipped to become in-house marketer’s preferred channel for gaining juicy new creative ideas in the near future.
The reason for this change, according to the study, is because many marketers now lack confidence that agencies can deliver the dynamic content audiences crave. But that’s not to suggest, however, that clients will be looking to cancel their contracts anytime soon. 69% of those surveyed still believe that their current media agencies are capable of managing their audience communications online.
3. Chief Marketing officers will increase their budgets 10 fold in 10 years
You read that right.
Foundation Capital released a new study this week which found that marketing budgets across the world will reach a combined total of $120 billion by 2020.
The same study also discovered that the main incentive behind this budget growth is to meet demands for higher revenue.
4. However, 33% of marketers are also decreasing their spend on print advertising
Despite the widespread practice of increasing marketing budgets in the future, some platforms are attracting more spend than others.
It is predicted that both print advertising and direct mail will see a drop in spend over the next decade.
This development has been attributed to the rise in smartphone usage amongst adults, who now spend - on average - one hour per day on their mobile device.
5. Consumers prioritise security and privacy above overall customer experience
Research conducted by Neustar has shown that what matters the most to consumers isn’t the level of customer service they receive. Instead, privacy and security was the biggest factor in whether or not a customer chose to do business with a brand.
Equally, privacy concerns was the biggest factor in eroding brand trust amongst consumers - and this distrust can take years to repair.
So B2C organisations, watch out!
6. Social media becomes the top online entertainment activity
The Internet Advertising Bureau has announced that social media is now the most popular activity whilst surfing the web - making up almost 2 hours and 51 minutes of activity per person, per day in the UK.
In fact, social media usage now makes up around 17% of all time spent online. One of the most shocking statistics to emerge from this report, however, was that time spent watching Youtube videos and listening to music has dropped from 22.1% to 12.4%.
7. Only 5% of marketers have a tightly integrated content and commerce strategy
Finally, the last major statistic to emerge this week was that 95% of marketers lack an overall content strategy that aligns with commerce.
This could mean anything from not using blogs to support latest product promotions, or even failing to update product pages on a consistent basis. Regardless, it is perhaps the most shocking information to emerge this week and indicates that content planning is one of the biggest challenges facing marketers today.
Digital marketing insights wrap up
There you go: the key industry insights that have transformed our understanding of digital marketing in September 2015.
But if all that has got you down, never fear. The team at pixel8 are always here to provide our digital marketing knowledge to help transform your online and offline campaigns. So say hello on Twitter or share via Facebook!