Midyear dentsu Ad Spend Report 2022

Midyear dentsu Ad Spend Report 2022

The midyear follow-up to the January 2022 edition of the dentsu Global Ad Spend Forecasts points to a continued recovery despite another year of economic uncertainty.

5 mins read

iProspect snaps up Josh Dwiggins as new Global Chief Client Strategy Officer

iProspect snaps up Josh Dwiggins as new Global Chief Client Strategy Officer

iProspect announces the appointment of Josh Dwiggins to its global leadership team as Global Chief Client Strategy Officer.

2 mins read

Operating in the intersection of 3 Cs can help brands win

Operating in the intersection of 3 Cs can help brands win

At the launch of the dentsu-e4m advertising report 2022 on Tuesday 1st February, iProspect’s Global President Amanda Morrissey shared the global perspective of convergence. Morrissey began her keynote address by highlighting that the actual convergence of media happened during the Covid-19 pandemic. “We have been talking about the convergence of media quite forever but all these years media was focussing on consumers' life, not in the technology world. The actual convergence happened during the pandemic when the long-pending fundamental change occurred”, Morrissey said.   While most media experts blame it on a change in consumers’ behaviour during the pandemic, Morrissey says otherwise. According to her, “It is not just the changing consumers’ behaviour because their behaviour has been changing earlier as well. It is actually a change in consumers’ conscience; the way they think about their problems and the lens through which they see the world has fundamentally changed. And this will continue to change their decisions moving forward.”   She noted that consumers' are now experiencing new ways of interaction with brands, new ways of entertainment, they are learning how media operates and how it gets delivered and that is where the lines of fundamentals are blurring.    “We can’t think of offline and online journeys separately because they are intertwined,” says Morrissey adding that the digital and virtual worlds are blurring and sometimes they are replacing the physical world as they all are interlinked. The pace of this change is not slowing down.   Morrissey laid emphasis on the 3 Cs for convergence-culture, content, and commerce. Explaining the success formula for the advertising sector, she noted, “Opportunity for growth lies in the intersection of culture, content and commerce, all powered by data. Brands will win in this world of convergence if they operate on intersection of culture, content and commerce and focus on delivering today and building a better tomorrow simultaneously”.   “We need to think about tomorrow, today, Morrissey said, adding that the change in fundamentals is being witnessed all across the world”, she added.   Citing the example of the UK, where she resides, Morrissey said that doorstep delivery of items grew by 120 percent in the pandemic which created huge opportunities for brands that were into d2C segment and those with physical shops to incur losses in the tune of 22 percent. She said that the US is expecting up to 18-45 percent growth in various categories in the online commerce segment. She also highlighted how the Chinese purchased over 40 percent of the goods online even before the pandemic, compared to 22 percent in the UK and 18 percent in the US.   “The behaviour of Chinese consumers is not due to technology but their openness to brace new things and willingness to shop online. The markets adopted technology according to the consumers' need, Morrissey further added.   Citing a quote by Cedric Charbit, CEO of Balenciaga-“We need to set ourselves up to anticipate the change, rather than process the change when its too late”, Morrissey advises marketers to be ahead of consumers and not respond to their needs.   She also gave an outline of changes likely to appear in the future such as everything will be shoppable, all forms of brand conversations be it video or text or anything, will allow shopping and contactless payment.   “Consumers' expectations are super high. They are very demanding now. The question is how brands are readying themselves to treat their consumers meeting their expectations. Apart from brand building, marketers will have to provide seamless experiences and interaction points to their consumers. Every media should be like performance media,” Morrissey explained. She said that her company is offering a series of tools to brands to keep a track of consumers interactions.   Talking about Metaverse and NFTs, Morrissey says innovations of the virtual world have started blurring lines with the physical world and the brands should be ready to leverage these technologies. “We are planning an entire ecosystem for brands that operate in the intersection of physical, digital, and virtual world to offer a broad range of immersive experiences. We are also working on how to add haptic technology in the virtual world so that users can touch and feel in the virtual world and bring them into the real-life world. We are also working on NFTs for clients,” Morrissey told the audience explaining how iProspect was blending virtual and physical worlds for the brands which want to remain ahead in the race.   Morrissey further added that the consumers will take decisions based on their gut feelings and hence brands should substantiate every claim that they make about any product, they have to have a sustainable strategy. “People focus on healthcare and wellness. Self-care brands will be expected their products of impact on consumers' lives, health monitoring, make more experiences able to make better choices. Predict and add value”, she said.   Adding further, Morrissey noted that ethics is at the heart of decision making and that brands need to think about the environment, ethical growth of business because consumers can see everything that brands do, including the supply chain.      Find the article originally published here: http://ow.ly/4jIM50HS072 Content 0

5 mins read

A Cookieless World Conclusion

A Cookieless World Conclusion

As 87% of people now believe data privacy is a right, not a privilege,[1]we, as marketers, should do better to address their growing concerns around how their information is collected and used. It is not only a matter of legal compliance, but also a matter of trust.  In that context, although the recent evolution in the cookies landscape has triggered legitimate concerns around the potential consequences on advertising efficiency and on market dynamics, we should all welcome any change promoting user privacy as a collective, meaningful progress.  Of course, these changes come with their own set of challenges and uncertainties, and the industry will probably have to make do with less - but better - data.  As we have seen in this report:  The leading web browsers are moving away from third-party cookies, creating a fresh paradigm for the digital marketing industry. In 2023, we consider using third-party cookies for advertising purposes should be a relic of the past. Apple is going even further, requiring apps to explicitly obtain consent to keep tracking users.[2] Some digital marketing activities are impacted, such as data management, audience activation, and performance measurement.  Marketers must reconsider how they manage data. This means questioning their current value exchange, improving communications around data privacy, and revisiting their technology needs.  To keep engaging consumers, marketers should investigate the possibilities offered by contextual targeting and cookieless audience targeting alternatives such as persistent IDs.  To measure future performance, marketers will have to combine multiple techniques, from in-platform attribution to incrementality measurement to media mix modelling. A solid testing roadmap will be more important than ever.  There is no silver bullet for this evolution, instead, each brand must develop its unique combination of responses. It is fine if your organisation has not figured out the best option yet. You are not running behind as there is still time to adapt – but you should not wait any longer to plan your transition to a new model.  We expect discussions around privacy and identity to stay at the forefront of the debate even after we have pivoted to the cookieless world.  This is why at dentsu we constantly monitor the martech landscape and are committed to working alongside our clients and partners to imagine and implement solutions that work for all. As a global leader in search marketing, we have implemented advanced cookieless strategies for the world’s largest brands for the last 10+ years. We are using this know-how to help our clients not only thrive in a world free of third-party cookies but do so with speed.  Digital advertising has always been one of the most dynamic and exciting marketing spaces - and we are confident the best is yet to come.    For more, download the full report today: http://ow.ly/KDTK50FKTaJ  [1] Microsoft Advertising in partnership with iProspect, 2020 Consumer Privacy and Brand Trust Survey, Dec 2019 – Mar 2020, as featured in the report In Brands We Trust, published in April 2020  [2] Apple Developer, App Store, User Privacy and Data Use, as accessed on May 4, 2020    0

3 mins read

Making the most of Attention by Aligning UX with Consumer Intent.

Making the most of Attention by Aligning UX with Consumer Intent.

This article is authored by Chris Philp, VP, Lead, SEO and Karen Kysar, Senior Director CX Strategy.    Advertising campaigns are not the only ways for brands to get consumers’ attention. Guiding them when they search for information, helping them to learn more about a topic, and assisting them in accomplishing what they want are powerful means for brands to capture their interest and to influence what happens next.   To design valuable, consumer-centric experiences that will be noticed by their audiences, marketers should focus on three priorities: correctly interpreting intent, solving users’ problems and delivering on expectations.   Understand intent Correctly interpreting intent is not just about observing consumers’ search activities and the various tasks they perform throughout the day, but also about understanding their reasons and the context around them. First-party data is a good place to start. For instance, website analytics inform about the kind of audiences you attract, CRM data show who buys your products, and customer support data cast light on consumers’ struggles. To complement these data sources, ad hoc surveys can capture consumers’ attitudes, motivations and triggers. For example, running a large-scale quantitative survey of first-time moms helps understand what their everyday looks like, where they are seeking advice, and how they handle caregiving issues. To give voice to that data, small-scale user studies enable you to hear directly from first-time moms (e.g., the types of searches they perform). As privacy regulations give consumers more control about how their data is used, we anticipate that consumer surveys will see renewed interest from brands. By encompassing what audiences express and how they interact with your brand, this approach makes it possible to truly know audiences as people. You can then develop actionable portraits rooted in data which help identify areas where your brand is well positioned to win with content and develop content roadmaps that truly address your audience needs.   Solve a problem To help consumers solve a problem, start with a shift in focus from the brand to the consumer. It is about adapting the brand response to the consumer moment, and recognising that all these moments are not necessarily about purchasing a product. For instance, Google has identified four pivotal micro-moments: I want to know, I want to go, I want to do, I want to buy. When first-time moms look to soothe their crying infants, they will often turn to search engines. The keywords they use carry a lot of intent and emotion. A search for “swaddle” may be about looking for a product, while a search for “swaddling” may be about looking for information on whether it is safe. In both cases, these keywords are proxies for the underlying problem: how to get a baby to sleep through the night. In the search engine result pages, results for the “swaddle” query are centred around products – which only partially addresses the bigger problem at play – and there is a lot of advertising competition. Conversely, the query “how to get a baby to sleep through the night” returns the “Interesting finds” component, which provides users the option to land on a content page. For brands, it is an opportunity to demonstrate they understand people’s intent and context, and to provide a valuable solution rather than focusing solely on the product and transaction. From telecom companies developing guides around improving Wi-Fi reception to water treatment companies educating consumers about contamination of water, this approach using value as the key factor to capture attention is applicable across all industries. By understanding intent and assessing the search engine results page and content types delivered, brands can much better assess not only the problem, but the best suited format for delivery, too - whether that is a video, an article, an image or other.   Deliver on expectations Delivering on expectations means ensuring that you are not only showing up when people search, but also that they can convert easily once they land on your website. This requires acting simultaneously in two dimensions: the user experience (UX) and the technical side. There is an important difference between a website that looks clean and a website that is truly user friendly. Analytics can help you detect the most problematic bottlenecks of your website. Then, user testing can help you understand the various reasons behind these bottlenecks, such as a frustrating product catalogue organisation, or an impractical checkout. These insights can help you address the most urgent pain points through A/B testing, and ultimately improve your UX. From a technical standpoint, there is a host of aspects to consider, starting with site speed. Site speed is fundamental in user experience, and has a strong influence on bounce rate and conversions. Marketers should regularly monitor their site speed, using online tools such as Google PageSpeed Insights. Additionally, UX plays an increasingly important role in search engine rankings. From May 2021, page experience signals (e.g., mobile friendliness) will be included in Google Search ranking. Simply put, UX is not only important for making the most of the attention of people who reach your website, but it also conditions your ability to get the attention of additional users through search results!     As one marketer out of two (48%) declares that not being consistent across every element of the consumer experience is a main challenge for long-term trust in their brand (iProspect 2020 Global Client Survey), strategic use of content presents a true opportunity to bring the experience together - from attention to transaction - by making the most of consumer intent and context through value.     This article is excerpted from the report Future Focus 2021: Brands Accelerated. Download it now for key insights on how brands can make the most of brand and performance to accelerate their growth. 0

5 mins read

Trends from global conversation and what they mean for gaming

Trends from global conversation and what they mean for gaming

This article has been written by Lisa Cowie, Head of Agency Research at Twitter, and Thomas Bailly, Global Agency Lead at Twitter. When people care about something, they talk about it. There are hundreds of millions of Tweets sent everyday around the world. What we choose to share says something about us — about who we are, about what interests us, about what we believe in. Conversation gives a window into culture.          Whilst Twitter isn’t short of data, gaining insights from that data requires the right analytical tools. We partnered with Black Swan to analyse 300,000+ topics of conversation. Using AI-driven network science to map conversations into clusters, we looked over 2 years (Jan ‘19 - Dec ‘20) to detect evolving trends. Tweets were analysed across 8 markets - US, Canada, UK, France, Spain, Brazil, Australia and India.    Many conversations persist across markets From a macro perspective, people around the world are talking about a lot of the same things —  but they can manifest differently depending on the cultural context. Our analysis surfaced 6 key spaces:       Understanding culture isn’t about honing into one area that is most obviously connected to a brand or vertical. Conversation is fluid and therefore trends are interconnected. It’s important to consider all the ways that consumers are thinking and behaving, to know what matters to them across many facets of their lives.    Trend #1 - Wellbeing Of course, wellbeing. Conversation has increased by at least 40% in all markets. The notion of #ItsOkayNotToBeOkay has come to the fore, with increasingly frank and open exchanges. #CollectiveHealth. Wellbeing is increasingly being shaped by conversation around ‘communities of care’. Healthcare systems, nursing care, health tech, telehealth services and “looking out for each other” have all seen growth.   Trend #2 - Creator Culture A new generation of entrepreneurs and everyday makers is emerging: the creator class. Spanning those who create for a living through to everyday people who want to inject a bit of creativity into their days. #Participation. Everyone can create. Involvement is more prominent than ever. This notion is fueling the entertainment space as content proliferates from everyday creators and consumption becomes much more social. Conversation around creator culture has increased by +26% in the US and as much as +135% in Brazil.   Trend #3 - Everyday Wonder Escapism is a fundamental human desire. From the cosmos to spirituality to wanderlust, people are immersing themselves in content and experiences. There’s renewed wonder in imagined realities. Fantasy worlds, role-playing, cosplay, sci-fi, and superhero culture are providing ways for people to lose — and find — themselves. The conversation is steadily growing everywhere, with particular resonance in Spain, +35%, and Brazil, +31%.   Trend #4 - One Planet The notion of #BuildBackBetter is emerging as a key driver of the conversation around sustainability and the environment. #TheGreatReset in the US, #GreenRecovery in the UK or #Agenda2030 in Spain are setting the tone, with a focus on regeneration not just sustainability.  There has also been heightened interest in nature and local surroundings — from the impact of climate change to an appreciation for green spaces and the land around us.   Trend #5 - Tech Life A changing dialogue about the way we live, work, and create. As the pandemic hit, a burgeoning reliance on tech in our homes saw more mentions of everything from video calling to smart sensors to connected entertainment to ed tech. Tech Life is expansive - people are talking about smarter living, tech for good and tech angst. The conversation has grown between 30-40% across all markets.   Trend #6 - My Identity People are feeling more supported — and celebrated — to live out loud. #RepresentMe. Equality has become one of the most prominent themes on the platform, as individuals and communities push for real representation. This doesn’t stop at politics, it’s increasingly a topic within entertainment.  As people increasingly define themselves against their values, beliefs or ethics, #BeAnAlly and #TakeAStand are concepts that are gaining traction not just for individuals but within fandoms too. Who you stan says a lot about what you stan. People are realising the power of their fandoms to drive real social change.   The US is seeing the highest growth around this theme, 61%, but with 40%+ growth in all markets the conversation around identity is happening everywhere. ------------- We see those conversations shaping global culture. One of the recurring themes, showing up in conversation and making its way into mainstream culture, is gaming. Let’s look at how the gaming conversation has evolved, and what that means for content creators and brands.   Everyday prevalence of gaming Gaming is a huge area of opportunity for brands, irrespective of their vertical. It sits at the intersection of culture, tech, and content. Mainstream, but also a multitude of niche communities, gaming is spreading far and wide into peoples’ lives, accelerated by the pandemic.    ●2B+ gaming related Tweets globally in 2020, up +75% YOY   ●Globally, people on Twitter are 1.7X more likely to have a connected gaming console and 2.2X more likely to watch competitive video gaming, vs. those not on Twitter.   Gaming shows up within conversation in various ways, driving two of our trend spaces:   Gaming Focus Trend #1 - Creator Culture: Conversational Entertainment Game talk  A new era of gaming, one where games become social experiences. Mentions of games like Among Us, Animal Crossing, Pokemon and Fortnite have all seen huge growth. Conditions of the pandemic have driven usage, but these games inspire connection and conversation.   Streamers Gaming as video content. Increasing mentions of live streams show that gaming is also a consumption experience. #SupportSmallStreamers is gaining traction as more people move into the role of creator, putting out content for their audiences.   Gaming ecosystems Franchises are converging with film and music. In-game social events like concerts are driving conversation around music artists in the same context as gaming.     Gaming Focus Trend #2 - Everyday Wonder: Imaginative Escapism Nostalgic experiences As people seek out comfort in the familiar and iconic, classic franchises like Pokemon, Pacman, Mario, Star Wars characters and countless others have been delighting new and old fans alike.   Immersive narratives Not quite a video game, not quite a movie. Gaming is increasingly being talked about in the realms of characters, settings and stories as people desire full immersion into fantasy-worlds.   Beyond gaming itself Animal Crossing wasn’t just something to do during lockdowns. Conversation on Twitter spiraled into everyday dreaming about travel, holidays and IRL experiences. Hype and conversation around Cyberpunk, the long-awaited game, has moved into story-telling and cosplay (costume play) as people throw themselves into character role-playing.       Acting on the gaming phenomenon If it’s happening in the world, it’s happening on Twitter. Particularly when it comes to the gaming conversation, fans around the world come to Twitter to talk about the biggest moments of the year — the game drops, the fandom, and more, all year long. We see this in the consumption habits of our audiences — during live events, while attention shifts away from other social media, it shifts towards Twitter.   This is why game publishers and esports teams alike are prioritising using Twitter as an immediate distribution platform for their biggest moments. With Amplify, Twitter’s pre-roll video offering, brands can reach the younger demographic who are difficult to reach by TV and the increasing cord-cutters and cord-nevers. From always-on packages with our gaming press partners, to live events and esports opportunities, Twitter has a wide range of solutions to allow brands to align with premium, brand-safe content that resonates with a younger audience, globally.    For more information on Twitter Trends please visit marketing.twitter.com/trends  0

7 mins read

News

Future Focus 2021: Brands Accelerated

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Straight Talk About Why Marketers Should Get Involved with Clubhouse and Social Audio

Straight Talk About Why Marketers Should Get Involved with Clubhouse and Social Audio

iProspect has contributed to the Insider Intelligence Clubhouse and Social Audio 2021 report which offers extensive knowledge into social audio and its rise. It gives us insights into social audio apps including Discord and the newfound favourite, Clubhouse, and shares vision into how and when marketers should get involved.   Current circumstances have introduced issues unmatched to anything we have previously seen. Minimal and limited daily human interaction and video conference fatigue are becoming the norm. “Participating in conversations in social audio apps—or even just listening to other human voices speak about topics that are important to them—fills yet another need for connection,” the report explains. It gives an opportunity for “authentic, unfiltered discourse” so many of us are craving.   Launched in 2015, the app Discord, notable for its voice chat feature, has experienced significant uptake since the start of the pandemic. “Discord is perhaps the most scaled and mature platform among social audio venues,” said Rohan Philips, chief product officer at performance marketing agency iProspect. “That’s primarily driven by gamers but it’s increasingly being adopted outside of gaming by communities and individuals.”   Discord hasn’t been the only app to prosper since the pandemic. Despite being just over a year old, Clubhouse has “became the poster child for the social audio trend after it entered a period of hyper growth.” Clubhouse is filling the void the pandemic accelerated and is exceeding many expectations in doing so. The report commented on its potential saying, “[P]eople who are aware of it believe it could eventually challenge its audio and social media progenitors.”   The recent rise of social audio and Clubhouse are hot on every marketer’s radar. Click here to download the report to find out more. This article is excerpted from the report Clubhouse and Social Audio 2021 report.  0

2 mins read

Future Focus 2021: Brands Accelerated

Future Focus 2021: Brands Accelerated

The new iProspect Future Focus report explores the intersection of consumer attention, commerce and data.    Today, we officially launch Future Focus 2021: Brands Accelerated as the essential read for conscientious marketers seeking to explore and exploit the latest consumer and industry advancements for brand growth. The 75+ page report addresses some of the most pressing aspects of modern marketing including; the battle for attention, wholesale changes in data privacy, and the emergence of assisted commerce.    Combining evidence-based research with interviews and responses from over 200 brand marketers in 29 countries, the Future Focus 2021: Brands Accelerated report delves deep into the challenges and opportunities faced in the current global climate and within the immediate media landscape. And, convenience and relevancy of media to the consumer is key, as 61% of marketers, polled for the report, considered ‘building a highly convenient experience for the consumer’ as the most powerful lever to generate business growth.i    The content of this sixth edition of the Future Focus series typifies the intricacies of bringing brand and performance together to achieve growth.     “Despite the challenging times we live in, I believe there have never been so many opportunities in media. With our new and unique approach of performance-driven brand building, we are firmly optimistic about the future and resolved to make it happen, today. With Future Focus 2021: Brands Accelerated as their guidebook, I hope all marketers will be able to leverage the growth potential afforded at these significant intersections of media, data, commerce and culture.”  Amanda Morrissey, Global President of iProspect    The findings showed that around 2 in 5 marketers (42%) still think the linear path to purchase is as relevant today as it was decades ago, despite the rise of digital. While at the same time 32% of marketers feel that expanding commerce capabilities is important for the 2021 roadmap, however 26% see this as one of the most difficult challenges this year.ii      Practical advice to marketers.   In addition to discussing and dissecting the impact of major global industry trends and innovations, the report spotlights the relevancy and opportunity for brands, regardless of sector, to capitalise on these seismic shifts in the media landscape. Examples of the report’s advice and guidance for marketers worldwide include:    #1: Commerce is Everywhere    Organisations should strive to build and maintain an accurate picture of their commerce capabilities across five key dimensions: desirability, availability, findability, buyability, and repeatability. This will help them define the most profitable commerce model for their brand, better integrate their e-commerce and stores into an actionable omnichannel strategy, explore new growth channels, and turn media opportunities into transaction opportunities.    #2 The Battle for Attention  Brands should consider factoring attention into their media optimisation and measurement efforts to elevate the impact and efficiency of their investment. To maximise audience attention, they should ensure the content and experiences they design truly align with consumer intent, and that the campaigns they develop do not relegate diversity and inclusivity as afterthoughts.  #3 The New Data Playbook    On the data front, organisations should embrace the new privacy-conscious world by re-evaluating the value exchange they offer to their audiences and anticipate technological changes to minimise business disruption. This is the occasion to explore opportunities for automation, evaluate the quality of the data they collect and process, and more broadly reflect upon how data is effectively used to inform decisions.    The last point is of particular significance as the report found in some circumstances there are huge disparities between what the consumer and brand marketer think, when it comes to assessing data value. Only 9% of marketers believe helping a company improve products or services is an incentive for consumers to share their data, while 44% of consumers believe it is a good enough reason to release personal identifiable information (PII) to the brand.iii     Download your copy of Future Focus 2021: Brands Accelerated now.    -----------------------------------------   [i] Proprietary omnibus survey: iProspect, 2020 Global Client Survey, 12 Oct–11 Nov 2020, 202 respondents. [ii] Proprietary omnibus survey: iProspect, 2020 Global Client Survey, 12 Oct–11 Nov 2020, 202 respondents. [iii] iProspect 2020 Global Client Survey (Oct 2020) and iProspect and Microsoft Advertising, Consumer Privacy and Data Survey (Mar 2020) 0

4 mins read

Shoppable AR Transforms eCommerce

Shoppable AR Transforms eCommerce

This article has been written by David Roter, VP Global Agency and Brand Partnerships, Snap Inc. and Heather O'Shea, Marketing Science Lead, Snap Inc.   Augmented reality (AR) is redefining the future of shopping and brand experiences. It empowers people to experience brands and products up close without needing to go to a store, enabling the ability to comfortably “try before you buy” and comparison shop with ease. For brands, AR is an incredibly powerful tool and helps solve business challenges — from reducing return rates to increasing loyalty with immersive experiences — AR unlocks avenues to reach potential customers far beyond traditional eCommerce offerings. The ongoing rise of smartphone ownership and camera usage enhances the impact of augmented reality for brands. Helen Papagiannis, the author of Augmented Human, details these trends in an article published in Harvard Business Review [1] . Her conclusion is that “AR has proven that it can add enormous value for consumers in the shopping journey”. Over the past year, Snapchat has been experimenting with Shoppable AR formats and evaluating the role of augmented reality as a performance channel, going beyond entertainment and fun to a true utility that drives business results. Our findings outline the immense opportunity for brands to amplify their eCommerce strategy and equip their business for these consumer habits of the future.   Augmented reality is truly a full-funnel format. Brands leverage AR on Snapchat to enable conversation about their brand, invite people into an immersive experience, facilitate product try-on and in-home-visualization, and activate useful formats for education. As such, we’ve found that augmented reality delivers full funnel performance. Through a global meta-analysis with research firm Kantar, we identified that when Snapchat CPG campaigns include an AR Lens, they drive 2.5x growth in ad awareness and 1.1x lift in action intent compared to Kantar's global CPG market norms benchmarks[2]. This trend holds true for the retail category as well - when Snapchat retail campaigns include an AR Lens, they drive 2x growth in ad awareness and 2x lift in action intent compared to Kantar's global retail market norms benchmarks [3]. Beyond brand lift, augmented reality campaigns also deliver significant ROI. In the US, Snap partnered with NCSolutions to analyze over 2 years of Snapchat CPG campaigns. We learned that campaigns that include AR Lenses demonstrated a 46% higher lift in penetration on average compared to campaigns without Lenses and drove 14% more incremental sales [4]. This inflated growth of incremental sales indicates that highly engaging branded AR experiences can convert users more quickly than traditional media formats.   Augmented reality is also gaining ground as the future of product trial and try-on. Nearly 200 million Snapchatters engage with AR every day [5], and 46% have used AR or VR as a virtual shopping tool. And interest continues to climb - nearly 8 in 10 are interested in visualizing products in the space around them as a way to enhance their shopping experiences [6]. We’ve built a behavior of daily AR use in the Snapchat camera, and consumers are ready to fully embrace this technology as a part of how they shop and compare products.   In 2020, we began deeper testing of Shoppable AR formats as we recognized a desire for our audience to interact with brands while safely staying home during the COVID-19 pandemic. We partnered with select advertisers, including dentsu clients, to test these formats over Q3 and Q4 of 2020. We developed tools like SnapML that offer users the ability to try on products such as shoes, sunglasses and makeup directly within Snapchat’s camera and seamlessly make a transaction if they like what they see. These immersive experiences have delivered outsized results for participating advertisers. 9 out of 10 of these campaigns drove an increase in ad awareness [7], and because of the immersive experiences the camera allows for, we’ve seen these Product Experience Lens campaigns were 2x as likely to drive Intent lift than Snapchat Q3-Q4 Norms [8].   Notably, dentsu partnered with Snapchat for two recent best-in-class shoppable AR campaigns. Gucci embarked on their first-ever global AR shoe “try-on” campaign, using SnapML technology to let Snapchatters virtually try on Gucci shoes. After seeing how they looked in the brand’s latest sneakers, Snapchatters were able to purchase the shoes directly from the Lens via a “Shop Now” button, generating positive ROAS as a result [9]. Using their Business Profile as their virtual storefront, Dior (LVMH) launched several new Lenses for their B27 sneaker launch that delivered 3.8X ROAS for their overall campaign [10]. Augmented reality is no longer simply an experiment. For many marketers, it’s becoming a core element of their eCommerce strategy. The wide variety of AR formats can be activated to achieve marketing objectives throughout the funnel, and as more consumers seek out AR shopping experiences, brands have an opportunity to own shoppable innovation within their category with a high rate of proven success. Platforms like Snapchat are best positioned to help retailers tap into this powerful new format. We have a highly engaged audience of 265 million daily active users [11], nearly 200 million of which engage with AR on a daily basis [12]. We’ve evolved our AR products to address utility and commerce in response to consumer needs and we make it easy for advertisers to build creative through our best-in-class creative strategy team and free turnkey products like Lens web builder. This brings newfound opportunities for brands to cut-through the clutter and achieve growth while future-proofing their approach to eCommerce.     [1] Source: Helen Papagiannis, “How AR is redefining retail in the pandemic”, Harvard Business Review, October 2020 [2] Source: Kantar Snapchat CPG campaign brand lift meta-analysis commissioned by Snap, Inc., February 2021 [3] Source: Kantar Snapchat Retail campaign brand lift meta-analysis commissioned by Snap, Inc., February 2021 [4] Source: NCSolutions CPG Reaction studies Q1 2017 - Q4 2019 [5] Source: Snap Inc. Internal data Q1 2020. See Snap Inc. public filings with the SEC. [6] Source: Alter Agents study commissioned by Snap, Inc.; May 2020 [7] Source: Snap Inc. internal data as of February 2021 [8] Source: Snap Inc. internal data as of February 2021 [9] Snap Inc. internal data June 28-August 17, 2020 [10] Source: Data from Snap Ads Manager as of October 29 - December 20, 2020. Lookback window: 28 days post-swipe, 1 day post-view. [11] Source: Snap Inc. internal data Q4 2020 vs. Q4 2019. See Snap Inc. public filings with the SEC. [12] Source: Snap Inc. Internal data Q1 2020. See Snap Inc. public filings with the SEC.     0

6 mins read

Drive your Commerce Strategy with the Commerce Success Framework

Drive your Commerce Strategy with the Commerce Success Framework

This article has been authored by Damien Lemaitre, SVP, Media Product and Information.    Commerce is now a priority for absolutely every brand in any industry vertical. The recent changes to our way of living have made it clear just how important it is for a brand to be able to reach consumers across a complex media and commerce landscape.   According to eMarketer “US consumers will spend $709.78 billion on ecommerce in 2020, representing an increase of 18.0%.” This means there is a great growth potential for brands that are willing to invest in innovating themselves and to make commerce a strategic priority.   Now more than ever, marketers need a compass to prioritize the key brand and performance actions necessary to build a robust commerce presence – on the short term through optmisation, and on the long term through exploration. This is where iProspect’s Commerce Success Framework (CSF) can help, by exploring five dimensions of a successful commerce ecosystem. Start your individual assessment today at commerce.iProspect.com.     Desirability (Making the consumers want your products)   Optimise: Desirability, by nature, is not something you can increase instantly with the flip of a switch. Each consumer interaction with your brand, from media exposure to peer recommendation to purchase experience and customer support, influences how consumers perceive your brand. It means there is no shortcut to desirability, and that meeting consumers’ needs across the other dimensions of the CSF every day is critical.   Explore: New societal, environmental, and technological trends are changing how people live, communicate, and consume. While some brands have the agility to quickly evolve their proposition to adapt to these trends, for others it requires structural changes or even pivoting their business model. Ensure that your company allocates time and resources to detect and understand the key dynamics influencing your customers so that you can anticipate change and stay relevant in the long term.     Availability (Meeting consumers where they really are)   Optimise: Lockdowns have driven consumers in record numbers to shop online more than they ever have before. Ensuring you are just as readily available online as you are on the store shelf is critical to your commerce success. Identify the models that work best for your brand, whether in marketplaces, direct-to-consumer platforms, social commerce, or otherwise.   Explore: Marketing has long been a one-way communication from brand to consumer. This does not have to be the case anymore, as mediums like chat provide a two-way dialogue with the consumer. Consider building out this channel with a combination of artificial intelligence and human operators to support consumers whenever and wherever they need assistance. Explore how you could enable your store associates to assist your customers online as naturally as they would in-store.     Findability (Ensuring relevant visibility when it matters)   Optimise: Reaching consumers at scale can be a tedious task, which is why we recommend utilising technology where it makes sense. Scripts, bidding algorithms, and auto-reporting are a few ways automation can make media management more efficient and help you focus on more strategic and creative work, leading to greater performance all around. Audit your media management process to map opportunities for quick automation implementation.   Explore: The explosion of livestreaming presents a massive opportunity for brands. This format is a powerful vehicle for brand awareness through its scale, audience engagement through its interactivity, and sales stimulation through its shoppable features. To discover how your brand could enter this growing space, start by analysing how your audience consumes livestreaming, from the type of content they watch to the platforms they use.     Buyability (Differentiating products from the competition)   Optimise: In the short term, focus on areas where you can simplify the purchase experience. Start with a review of your e-commerce assets to ensure answers to the most pressing customer questions are easily accessible and the content is regularly refreshed to reflect seasonal offers. Additionally, identify opportunities to collapse the purchase funnel by including shoppable media in your marketing campaigns. Think beyond digital to TV, magazines, newspapers, and audio spots. All can be turned into interactive commerce opportunities.   Explore: As consumers spend more time at home, recreating a shopping experience as close as possible to the physical one will increasingly give you a competitive edge. Today, AR is not only good for fun one-time experiences, it can offer consumers actionable solutions, such as a virtual try-on. For brands, it could mean convincing hesitant customers and reducing the volume of returns. Explore areas wherein the use of AR could benefit your customers.     Repeatability (Building a relationship with the consumer beyond the first sale)   Optimise: About a third (31%) of marketers declare the purchase experience is a source of dissatisfaction for their consumers (iProspect 2020 Global Client Survey). This dissatisfaction represents a double risk: customers not returning, and a tarnished brand desirability in the eyes of potential customers reading negative reviews. To abate customer dissatisfaction, do not overlook what happens after people hit pay. For instance, develop rich content to guide their first-time use of your product, use home deliveries as a marketing channel for sampling, and ensure your support team responds to negative reviews.   Explore: Where people buy today may not be where they buy tomorrow. Often consumers make an initial purchase on a more trusted channel, but then make repeat purchases where it is more convenient. Always monitor the evolution of platform retention and engagement metrics (e.g., repeat purchases) to analyse consumer shifts. Explore the opportunity to develop subscription-based models to increase the convenience of your offer and secure revenue streams.   Start your individual assessment today at commerce.iProspect.com.   This article is excerpted from the report Future Focus 2021: Brands Accelerated. Download it now for key insights on how brands can make the most of brand and performance to accelerate their growth. 0

5 mins read

Inclusivity Drives Attention

Inclusivity Drives Attention

One of the most important considerations in building experiences that truly capture attention is to make sure everyone feels included. It may sound obvious but is yet to be a reality for many population groups, despite their growing economic influence (in the US alone, the buying power of racial and ethnic minority groups is close to four trillion dollars). Like attention, diversity and inclusivity should not be taken for granted and require continuous effort. Brands have a critical role to play in that space. According to dentsu and SeeHer, 81% of US consumers agree media plays a crucial role in shaping gender roles, but less than a third (32%) think media usually portray women accurately.     A pivotal moment in time 2020 has been pivotal in allowing many to realise for the first time the disparities endured by minorities. The COVID-19 pandemic has hit minorities hardest and several tragedies in the US such as the murder of George Floyd have spotlighted systemic discrimination against people of colour. The global public outrage that followed made waves across all aspects of society, including consumption, through movements such as #BlackoutDay2020, and brands, with many major companies publicly confronted for the lack of diversity in their boards.   Brands can no longer neglect diversity and inclusivity. It may lead to uncomfortable realisations, difficult conversations and mistakes along the way, but embracing inclusivity is now an imperative for brands to become or stay relevant to population groups that have been overlooked for too long.     There has been progress, but the road to diversity and inclusivity is still long. According to the iProspect 2020 Global Client Survey, 96% of marketers now believe inclusive marketing is important, most of them (63%) seeing it both as a moral imperative and a business opportunity. Interestingly, the percentage of marketers who believe it is only important for the business potential it represents is decreasing (-7% YOY), while the percentage of respondents seeing it as important solely on moral grounds is increasing in the same proportion. It could be a sign that more companies are growing more comfortable with embracing a societal role.     Reflecting on the campaigns they ran over the last six months, 55% of marketers declare they featured people from a different ethnicity/caste than the dominant one in their market at least once in a positive way. This increasing figure (+3% YOY) could hint that the increasing visibility of movements like Black Lives Matter progressively change perceptions and actions around social justice.   However, not all population groups follow the same trend. For instance, we observe the percentage moving down for people with disabilities (-4%), which makes them underrepresented compared to the global share of people living with some form of disability (15%).   These figures show that, although inclusive marketing is gaining traction, there is still a lot left to do to improve the visibility of minorities in media and advertising and to build authentic stories that accurately reflect minorities’ experiences. Although there is no inclusive silver bullet, there is definitely a starting place: the diversity within the organisation. Building inclusive marketing campaigns requires inclusive marketing teams wherein diverse voices can be heard. This is a sine qua non condition for brands to resonate with all their potential customers.     The fight against bias   Bias is everywhere in society, and technology and data are no exception. Far from being neutral, technology and data can perpetuate and exacerbate disparities, prejudice, and discriminatory patterns. Many fields at the core of data marketing can be subject to bias, from insights to algorithms to targeting and performance analysis.   However, tackling bias is a difficult challenge as it can appear in many forms and on multiple occasions. It can be intentional (e.g., a decision to exclude a certain ethnic group from a campaign) or unintentional (e.g., combining multiple data targeting dimensions such as income and location that could de facto exclude minorities living in certain areas). It can play out at an individual level (e.g., due to the personal values of an employee) or at a company level (e.g., due to a lack of diversity in a product development team). It can stem from organizational inertia, negligence, or ignorance. (e.g., if a community was never targeted by the brand, a predictive model using historical data can incorrectly conclude the community is less likely to purchase its products and thus that the brand should not target this community in the future). It can emerge from within or be imported into the organisation (e.g., by using incomplete or poor-quality data from third parties). It can be a combination of the factors listed above and more, which makes bias detection even harder.   Because of the omnipresence of bias across organisations, it is crucial for companies to actively seek to identify and eliminate bias through various, overlapping strategies.   According to the iProspect 2020 Global Client Survey, a majority (52%) of marketing teams are now diverse and inclusive (+9% YOY). This is an important milestone as minority groups should not only be visible in consumer personas, but also around the marketing table.     Guidelines and best practices on diversity and inclusion are the second option favoured by brands (44%), followed by multidisciplinary bias training (32%, +8% YOY).   From the results, it seems that brands are increasingly concentrating their efforts on the people within the organisation (e.g., through recruitment, training, committees) to drive change, rather than relying on external partners or focusing on processes. However, the latter should not be overlooked. An external perspective can be useful for organisations to look beyond their filter bubble (e.g., through advanced analysis of data and algorithms, hiring process testing, or consulting on website design accessibility), and a systematic audit of product development and marketing campaigns can prevent oversights.   Marketers should keep in mind these additional considerations to reduce bias specifically in data marketing: As with the move toward privacy and Intelligent Tracking Prevention (ITP), the fight against bias calls for better data. Question the quality of the data you use in your marketing campaigns to prevent bias from spreading into data-powered activities. Your teams are not the only ones who should have frequent bias training. Your predictive models should be retrained regularly as well to learn from new, real-world data. Tools such as the AI Fairness 360 by IBM and The Linux Foundation can help you understand the bias in machine learning models. Keep investing in diverse teams. Human critical thinking is an essential safeguard to remove blind spots automation can generate.     This article is excerpted from the report Future Focus 2021: Brands Accelerated. Download it now  for key insights on how brands can make the most of brand and performance to accelerate their growth. 0

6 mins read

NFT’s, from fashion to art to music and entertainment, here to stay

NFT’s, from fashion to art to music and entertainment, here to stay

Cannes Lions is a celebration of art in all it’s forms. This definition may seem simple enough, but over recent years we have witnessed unsurpassed ingenuity largely due to the formation of Non Fungible Tokens on the blockchain. These are inimitable digital assets that are stored on a decentralized ledger of transactions. Sounds complex? Think of an NFT as a verification of ownership pertaining to the digital world of just about anything: digital art, music, films, games etc. I can go to Google and print off a picture of Andy Warhol’s Campbell’s Soup, but it’s worthless because it’s not the original. In a similar vain, I can copy and paste a picture of the meme famous Shiba Inu Doge Dog, but it is worthless because it is not the original. An NFT defines the original in the same way an experienced art curator would define Andy Warhol’s original work. In doing so, an artist of digital work can now demonstrate ownership over their masterpiece, which means they can also make profit from it, amongst other things.   Mike Winkelmann, the digital artist known as Beeple, generate global headlines when an NFT of his work sold for $69,000,000 at Christie’s, a 255-year-old auction house which has sold some of the most famous paintings in history. From that day, the light shone brightly on NFT’s and what they could mean for the industry.   Neda Whitney - SVP, Head of Marketing at Christie’s, hosted a number of conversations on the topic during the Cannes Lions event to gather more information regarding this new functionality within the art world.   The core takeaway is that NFT’s are creating new marketplaces: from fashion to art to music and entertainment, and they are here to stay. Powered by a tool simply known as Smart Contracts, digital art can be aligned with the original creator, who can then not only sell the piece, but also get creative with the contract and insert royalty percentages for any future sale, making it a very lucrative marketplace.   In the fashion vertical, NFT based visual assets and collectables are transforming the way digital and physical items can enter the digital-verse. Imagine your children wanting their avatar in Minecraft or Fortnite to wear the latest custom outfit? It has to be created by someone and where there is demand, there is a sale.    In the music vertical, NFT’s truly bring ownership and authenticity back to the artist. However, music as a form of art has generally been available for just a few dollars. Comparably, the cost of creating an NFT is high which unfortunately may price the music out of the fans’ hands. Conversely, new platforms are already being built to lower the cost of NFT creation and even subsidize certain costs in an attempt to lower the barrier to entry to zero.   On a similar note, as we discuss barrier to entry, from an energy consumption perspective, it can take 2 entire days of avg. household power usage to establish a single NFT. This topic continues to be widely discussed and countless innovative companies and platforms are already working on solutions.   As you can see, NFT’s are here to stay. With increased sovereignty, lower costs, lower barriers to entry, and increased energy sustainability, this art focused technology is only going to develop further and flourish within the industry.    We are merely at the tip of the NFT iceberg. 0

3 mins read

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