WPP media arm GroupM is out with a new report on consumer trust in digital marketing that finds that more than half (56%) of those surveyed want more control over their data and that 60% said they are less inclined to use a product if the brand uses their data for any purpose. The report, “Consumer Trust In Digital Marketing,” is based on a survey of 14,000 consumers in 23 countries. On average, per the report, more consumers (by a margin of 2 to 1) say TV ads provide a more positive impression of brands than digital formats. And 64% would have a negative opinion of a brand with messaging next to inappropriate content. More than one-third of consumers (37%) feel digital ads are too intrusive.
As marketers we’ve been here before. We’ve had to grapple with keeping our business moving during times of crisis. Most recently the recession in 2008 and before that in 2001, the 9/11 terrorist attacks. The challenge is speaking to your customers in a way that recognizes the gravity of the situation while at the same time giving your business the best chance to pull through. What’s more, as marketers we’re feeling as vulnerable and uncertain as our audience. We have to take a breath and tune into our own emotions to understand how to speak and message to consumers. To me, there are two paths that feel appropriate under the circumstances. In many cases they’ll converge but consider them platforms to launch from: 1. The solution approach. This one will appeal to the more practical customer segments and may be useful to brands that provide essentials. 2. The emotional approach. We may push through times like these with a brave face, but we all want to be comforted. click read more below for the rest of the article
A serious and unprecedented pandemic calls for calm, reason, and realism. As leaders, it’s essential to remember that engaging in contingency planning and caring for our clients and employees should be our top priority. As global events continue to unfold, we felt it essential to gather our thought leaders together to guide and advise appropriate next steps in strategy and tactics for clients as they, in turn, engage their customers. Before the pandemic reached a declaration of emergency, many clients were reporting records results amid record-low unemployment. A general sense of economic optimism, however fleeting, was felt by the American consumer. Throughout many challenges over the years, there is a remarkable resiliency to the American consumer. One testament to that resiliency is that the American consumer generally doesn’t stop shopping; they just shop differently. Roughly translated, that usually means less frequently and more strategically. In countless boardrooms around the world, company leadership is uniformly asking, “How can we hold or reduce expenses while riding out the next several weeks?” Such conversations are deeply critical in determining where to focus precious resources, to the most effective channels, while garnering maximum effect. As we engage with clients in thoughtful discussions and proactive decision-making, a few common threads are emerging. While the current environment requires a high degree of flexibility and adaptability, especially considering your industry vertical, there are some key observations and lessons learned we’d like to share with you: click read more below for the guidance
Google the word “Millennial” and you’ll likely see a collection of contradictory articles. For instance in the same month late last year CNBC wrote “Millennials to Blame for a Sluggish Economy” while MarketWatch wrote “We Need to Thank Millennials for a Booming Economy.” OK… we get it. Millennials, the folks born between 1981 and 1997 are different from previous generations. They don’t buy like Boomers or Gen X. Their work style is different. They’re over-educated, under-employed, drowning in student debt and careful with their spending. Marketers are already looking to Generation Z as the bright shiny object in the not-too-distant future. Their tastes and interests suggest a return to more traditional spending patterns. click read more below for much more
The economy expands and contracts in response to thousands of independent variables – one such variable, the COVID-19 coronavirus, is just the latest in a long list of examples. Still, periods of economic and social instability can be a scary time. In the interest of recalling lessons from past periods of uncertainty and helping brands answer how to best react during these periods, we want to share with you valuable lessons and insights we learned from during the Great Recession. For starters, it’s important to remember that not every brand is the same. For example, brands that serve consumer needs, rather than wants, generally have an easier time withstanding the days of uncertainty. It’s vital to understand and recognize that your customers’ needs change during a downturn, and it’s incumbent on the brand to respond by fulfilling them in unique ways. When executed well, it’s possible to actually gain market share, increase profit margins, and be better positioned for growth when the upswing begins. Still, almost every business will feel the effects of an economic downturn in some ways, and these are some tactics you can use to protect yourself: click read more below...
In a world where everyone is scrambling to label themselves “data-driven,” catalog marketers and direct mailers get to claim veteran status. We were data-driven before it was cool, back when it was called “direct marketing.” And as the digital person at an agency with a long history of direct marketing, I’ve never understood the rush to abandon print marketing in favor of digital, when they so clearly complement each other. Print is high cost, high touch, high impact, where digital is low(er) cost, low impact. What do I mean by that? We like to say print is for the important, meaning print is a high-impact driver that can really get critical messages the attention they deserve. Take a look at average response rates: Direct mail has average response rates from 4.9% to 9%, whereas most digital channels have conversion rates ranging from 0.77% to 1.3%. But where one is weak the other is strong. Typically, print can touch a customer a handful of times per year or season at best, but it’s a powerful touch that drives action. Meanwhile, digital can follow a person everywhere year-round, keeping top-of-mind awareness high.
The world is grappling with the widespread effects of COVID-19, commonly known as the coronavirus. Recent statistics from the end of February indicate that up to 44 percent of businesses have been affected by the coronavirus. As marketers, we have to face and brace for this impact. We don’t need to panic; we do need to be prepared. Beyond the obvious personal measures we as individuals can take – wash your hands people! – we have to prepare our business for the logistical and financial consequences. To say the situation is fluid would be an understatement. The situation could swing either direction in the hours, days and weeks ahead. What contingencies do you have in place? Are you ready? Here are 10 questions to consider when dealing with the coronavirus and its effect on your marketing initiatives.
People willing to share data with brands increasingly want to know that the value they receive outweighs the risk of the data being compromised — so a greater number, especially older generations, are clearing their browser history and cookies, according to survey findings released Wednesday. InfoGroup surveyed 1,000 consumers to better understand their attitudes toward privacy. The report — Privacy Matters: How Different Generations Think About Their Data — reveals the differences between generations and provides insight into the strategies companies can implement to build consumer trust. Concerns about privacy continue to grow. Some 88% of consumers surveyed are concerned about the privacy of their data, and 80% are much more concerned today compared with the past.
There are many interesting direct mail marketing trends in store for the year ahead. In recent years, there has been an erroneous notion that electronic media will make applications such as direct mail communications completely obsolete. But direct mail and print are still very much vibrant, innovative and exciting industries, and they’re on an upswing again after periods of underuse. Read on for six direct mail predictions you can expect to see in 2020. 1. DIRECT MAIL WILL PRODUCE BETTER RESPONSE RATES THAN EMAIL; 2. INCLUDING DIRECT MAIL IN DIGITAL OMNICHANNEL CAMPAIGNS; 3. PERSONALIZATION WILL BE PRIORITY; 4. CUTTING-EDGE IS CUTTING COSTS; 5. DIGITAL PRINTING IS NOT SLOWING DOWN; 6. ADDING VALUE TO YOUR TARGET AUDIENCE. The right direct mail marketing campaign continues to be an efficient and effective way to help an agency and its clients rise to the top.
Trends among retailers and recent research show the power of print: having a print presence matters in our digital world, especially among millennials and younger adults. For some of the same reasons that many people prefer a printed book to an e-reading experience, consumers may prefer a catalog or magazine to a website, social media or email marketing. Having a printed page in hand may help the products or messaging stand out rather than getting lost in an inbox or passed quickly by in a scroll of the screen. Additionally, the power of print can be found in the high-quality printed pieces that can show off a product’s features in a way that a screen’s color and resolution cannot. “The ROI on print can’t be underestimated,” says Tammy Tufty, Domtar’s communications manager for paper advocacy. “Companies and brands are recognizing that print is still a critical part of an omnichannel strategy and a quality customer experience.”