Marketing News March
March 31, 2023 | Chris Kervinen
The world of marketing changes by the minute. Here are the latest news.
Marketers balancing between data collection & privacy trend
According to a recent survey conducted by Gartner, 60% of marketing leaders anticipate facing challenges in balancing first-party data collection with privacy and customer value exchange this year. This comes despite the fact that 85% of those surveyed have already established formal policies for managing customer data.
The impending deprecation of third-party cookies by Google has prompted 82% of the 400 senior marketers surveyed to prioritize first-party data, while exploring other forms of data as alternatives. The survey further reveals that 42% of those surveyed are relying more on personalization and delivering one-to-one messages to customers.
Marketers are taking data privacy concerns seriously, with almost a third indicating that they have cut ties with an agency or channel partner over the past year due to concerns over privacy or customer trust.
Aldi & Lidl are capturing more market share – with a big push in TV advertising
According to a recent report, discount retailers Aldi and Lidl have significantly increased their advertising spend in the UK over the past year, contributing to a boost in TV advertising investments across the sector. The report suggests that Aldi increased its advertising spend by 34% while Lidl increased its spend by 40%, with both companies' marketing efforts focusing on promoting their products' quality and value. This has led to a growth in market share for both companies, with Aldi reaching 8.1% and Lidl reaching 6.3%. The report concludes that this trend is likely to continue, with discounters expected to maintain their investment in TV advertising to maintain their momentum.
Capturing the full effect of TV advertising can be tricky, though. We wrote about TV’s spillover effects to SEM earlier this week – check out the article here
Life after deterministic user-level measurement
Digital advertising just got a whole lot more exciting with the proposal of a new gold standard for ad measurement! The Harvard Business Review has just released an article highlighting the inadequacies of the click-through rate (CTR) metric, which is commonly used to measure the effectiveness of digital advertising campaigns.
Enter the Brand Impact Score (BIS), a revolutionary new metric that is set to take the world of digital advertising by storm. Unlike CTR, the BIS is designed to measure the impact of brand advertising on consumer behavior, by surveying consumers who have been exposed to the ad campaign.
Time will tell whether this can solve the short-sightedness of traditional digital marketing metrics!
Curious to learn more? Book a demo.
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