Brand Strategy Key Findings August 2013

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Today’s Multiple-Context Brand Interactions Challenge Marketers

According to Google research, 88% of consumers research products and services extensively before making purchases, consulting about 10.4 sources before making a choice. And as we know, these purchase decisions are increasingly a product of activity across multiple screens and channels.

“Our research shows that while only 14% of marketers consider last-click analysis to be ‘very effective,’ over 50% still use last-click measurement as the biggest influencer for a purchase decision. It remains the industry standard in many places,” a recent Harvard Business Review blog explains. “But consumers now come in contact with your brand in a variety of ways, in multiple contexts, across different channels and screens before that last click. Consumer behavior has evolved, and brands need to as well.”

Since 60% of online purchases happen after multiple brand interactions, marketers need to experiment relentlessly with campaigns — developing different creative concepts and copy for consumers in different geographies; testing various graphics, messaging and timing carefully measuring which ones perform best. It is also critical for brands to stay agile and be prepared to act quickly on insights. More broadly, smart businesses should integrate data platforms, such as CRM and in-store systems, with digital marketing strategies.

http://blogs.hbr.org/cs/2013/06/measurement_in_a_constantly_connected_world.html

Bullets

• Video is the fastest growing of any digital ad format, with marketers attracted to the branding possibilities of video and more consumers watching digital video content each year. Spending is predicted to grow robustly in coming years, and by 2017 will account for nearly 15% of all U.S. digital ad spending. (emarketer.com)
• Smartphone penetration stands at about 60% of the U.S. mobile market, according to new figures from comScore and Nielsen. The latest mobileLens data from comScore indicates that smartphone penetration was 59% during the 3-month period ending in June (Q2), flat from May, while Nielsen says smartphone owners accounted for 62% of mobile subscribers during Q2. (marketingcharts.com)
• According to a 2013 survey of U.S. marketing professionals by Pivot Conference, consumer engagement and brand lift were the No.1 goals of social media marketing, each cited by 67% of respondents. (emarketer.com)
• About 7% of home broadband users with pay -TV services say they’re likely to cancel their pay-TV service in the next six months. Even more likely are those with TVs connected to the Internet. (usatoday.com)
• 84.7% of consumers cite color as a primary reason they buy a particular product. (smallbiztrends.com)

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