5 Extremely Useful Digital Marketing Stats: November 2016

Keeping track of every new development in digital marketing can be overwhelming.

What trends have practical application and pay off? Do all those mobile stats from the UK and China really matter to my brand?

To alleviate the frustration of sifting for golden needles in an ever-growing haystack of PDF downloads, Cofactor will pull together a monthly recap of 5 extremely useful digital marketing stats.

This month we’re kicking off with contributions from Eyeview’s CMO, Jeff Fagel; managing editor of GeoMarketing.com, David Kaplan, and our own CRO, Tony Biancalana.

extremely-useful-digital-marketing-facts

From left to right: Fagel, Kaplan, and Biancalana

Extremely Useful Digital Marketing Stat No.1:

30% of marketers have a personalization strategy in place, but are struggling to align intelligence, content and channels with the customer + 23% are “a long way” from being able to deliver those experiences in real time (Customer Experience Board/CMO Council)

What does this mean?

TONY BIANCALANA: “Brands often avoid personalization due to a fear of how to get it done. However, this is because most brands aren’t starting with the right what. Personalization is not just a versioning issue (a how issue); it’s an issue of what messages matter most to a customer. What causes them to act in a given moment? What content should be used with a specific channel? The how of personalization must come second to figuring out the what; otherwise, time and effort are wasted.

Furthermore, if executives aren’t willing to lead from the top down, brand marketers won’t feel permitted to test new approaches toward building the deepest possible relationships with consumers.”

Extremely Useful Digital Marketing Stat No.2:

84 percent of all mobile advertisers believe the experience they provide to consumers is positive, while less than half (47 percent) of consumers actually report feeling their mobile advertising experience is a positive one. (Unlockd)

What does this mean?

This disconnect means brands are wasting millions on mobile experiences that don’t work. They need to start listening to their customers… Like Target does with its Cartwheel app.

Target continually blows its competitors out of the water with innovative mobile experiences. Instead of overwhelming users with information, the Cartwheel app curates relevant content based on expressed interests and users’ profiles. Additionally, the app surfaces offers through a beautifully designed, intuitive experience.

While not every brand needs its own app, the thought processes driving Cartwheel is worthy of emulation as the retailer reports 25 million active users and $3B in promotional sales.

extremely-useful-digital-marketing-facts-cartwheel

screen grabs of the Target’s Cartwheel app

Extremely Useful Digital Marketing Stat No.3:

41 percent of agency and marketing professionals hesitate to increase spending on digital video advertising due to the perception that the ROI is lower than any other form of media. Additionally, another 40 percent report that the ability to deliver quality content is an obstacle. (The IAB)

What does this mean?

JEFF FAGEL: “Traditional marketing channels are declining in effectiveness. Meanwhile, video is the fastest growing media channel in terms of time spent; but how video is used (broad reach, one creative execution to all) and what’s considered success— typically soft metrics like impressions and views — needs an overhaul.

While digital video’s use as a way to drive sales hasn’t yet caught up yet with marketers’ own generally positive ROI, new research by Sequent Partners shows that the inflection point is here. Almost 100 percent of marketers have seen positive ROI through digital video, but the fact that only 42 percent think digital video is better than other media is intriguing. It appears marketers are still cautious about digital video as a sales driver and have traditionally relied on video to deliver branding objectives with less of a focus on sales goals.”

Extremely Useful Digital Marketing Stat No.4:

Retailers see 129 percent higher conversion rates when social is part of the buyers’ journey; likewise, consumers who use social media as a part of their shopping process are up to 4 times more likely to spend more — sometimes significantly more — on purchases than those who do not. (Deloitte)

What does this mean?

There is no longer a question of whether or not social impacts sales. The question is: What content experiences integrate successfully alongside what’s shared by a consumer’s friends and family and will also grab their attention and lead to a sale?

The Home Depot understands social is where people go to inform and entertain themselves as well as shop. Their ads across channels include special offers, but also content like how-to videos that serve to inspire and educate shoppers – driving them to The Home Depot website where they can track transactions online or off through buy online, pick-up in-store functionality.

The Home Depot on Facebook

The Home Depot on Facebook

Extremely Useful Digital Marketing Stat No.5:

Retailers see a 7 times lift in in-store visits when they use mobile location-based ads. (YP Marketing Solutions)

What does this mean?

DAVID KAPLAN: “This connection was driven by harnessing location-based marketing’s two main strengths:

  1. Satisfying an immediate need in a defined geographic area.
  2. The ability to gather insights from consumers’ location patterns to generate personalized marketing messages.

For the past three years, retail has aggressively pursued performance-based advertising using geo-data along with proximity marketing programs. This is often spurred on by anemic sales numbers and new demands from consumers for more personalized experiences, similar to the ones they have with online retailers, like Amazon.

Mobile location-based ads ultimately resonate with consumers because they target them with the promise of satisfying a particular need at the right moment – such as someone needing a grocery list essential.”

What do you think? Did we miss anything? Tell us what you think in the comments below and be sure to check back next month for our second release.

Bookmark the permalink.

Leave a Reply