Industry Quick Links for the week of August 12:
Gen Z consumers choose brands they see as aligning with their values, which means brands must be careful when evaluating sponsorship opportunities, Inspira Marketing Group founder Jeff Snyder writes. He shares three tips for reaching Gen Z through sponsorships, including getting involved in areas like gaming, which have influence over young consumers; and standing for important issues.
Agencies set up trading desks to ensure more transparent programmatic media buys, ad placement controls and even as revenue generators and these tools have evolved from housing “cheap inventory” to quality media supported by more sophisticated technology, writes Seb Joseph. Digital Decisions CEO Ruben Schreurs says, “Agencies see this and are decoupling the non-disclosed arbitrage practice from the principle of a central trading desk effectively reinventing themselves and offering more transparent centralized options to market.”
In an effort to protect consumer privacy and add value to consumer engagements, more marketers are considering the potential of utilizing zero-party data, which is information intentionally provided by individuals to be used for explicit purposes and is not owned by the brand, writes Vanessa Mitchell. “While brands might historically have considered this self-reported data to be ‘first party,’ consumer expectations have forced the need for a new term and a new way of treating this kind of personal information,” a Forrester report explains.
Leading telecommunication companies are just starting to utilize a 5G wireless network, which is 10 times faster than 4G, that will affect the customer experience individuals have interacting with mobile marketers, writes Indrajeet Deshpande. He predicts as the technology becomes more ubiquitous individuals will rely more on their speedier mobile phones and utilize less ad blockers because of fast download times, and marketers will be able to seamlessly integrate mobile and in-store interactions and provide a more interactive and immersive experience.
Social marketers can leverage influencer platforms powered by artificial intelligence to choose the right creators, manage campaigns, recommend content ideas and provide real-time analytics, Fabrizio Perrone writes. He offers tips to help marketers select the right platform, including ensuring they include powerful algorithms that can identify talent from scale and provide access to first-party, real-time data.
Some 97% of marketers are spending on social advertising, up 10% from 2018 with Facebook being the most popular platform (91%) followed, respectively, by Instagram (69%), YouTube (48%), LinkedIn (45%), Twitter (36%), Quora (31%), Reddit (14%), Pinterest (13%) and Snapchat (8%), according to Hanapin Marketing’s The State of Paid Social report. In 2020, Hanapin research indicated, marketers will spend less on Facebook and focus more attention on Quora and YouTube, while also creating less carousel ads in favor of video and dynamic product ads.
Augmented or virtual reality features have been tried by just 5% of shoppers but 25% report they intend to use them to make buying decisions in the next year, per a GfK study. Additionally, 8% of shoppers said they’ve used smart speakers for shopping and 8% said they wouldn’t repeat the experience — the same percentage that said they intended to use them in the future.
Consumers are less willing to share personal data such as their name and home or email address with companies and don’t feel more compelled to do so if a brand offers to use the information to personalize ads, according to Advertising Research Foundation research. “With the impeding implementation of [the California Consumer Privacy Act] and other data privacy bills … we’re rapidly moving toward an opt-in data framework where marketers will need to ask permission to use personal data — and convincingly sell consumers on the benefits,” writes Greg Sterling in Marketing Land.
Word-of-mouth from social media influences social learning more than friends’ examples, according to a study by the University of California at Los Angeles, the University of Texas at Dallas and the University of Pittsburgh. Companies can use this insight “to develop successful information provision strategies and efficiently design their websites,” the researchers wrote.