Customer-Centric Roundup: September 2016
by iperceptions, on Oct 5, 2016
Fall's arrival brought quite a few interesting updates regarding the state of digital advertising, use of second- and third-party data and mobile experiences. Not to mention, the holiday season is just around the corner, prompting retailers to get all their ducks in a row.
eMarketer, Harvard Business Review and a few other publications provided some pretty interesting insights regarding the latest digital marketing and customer experience trends. Here are the posts that made September's Customer-Centric Roundup:
Digital ad spending gets bigger than TV
You read that right: Digital ad spend will surpass TV ad investments, according to eMarketer. The publication predicted advertisers will spend more than $72 billion on digital ads this year. In contrast, companies will invest $71.29 billion on TV spots in 2016.
The gap between digital and TV ads will only grow over the next four years. By 2020, advertisers will spend $35.25 billion more on digital ads than TV ads.
"Digital advertising is not only pulling dollars from traditional media, but it's also creating new advertising opportunities at the local and national level," said Martín Utreras, eMarketer's forecasting analyst.
Here's how to bring the mobile experience into your store
How do tablets and smartphones fit into the customer experience? Better yet, how can they become a part of in-store interactions? Steve Borges, founder of Biglight, revealed some of his insights in an Econsultancy post last month.
Here were a few takeaways:
- Very few people exclusively buy items online.
- While many customers’ express dissatisfaction with mobile experiences, mobile usage among those individuals is increasing.
So how can retailers improve the mobile experience? Borges highlights the need to deliver mobile experiences that adapt to the in-store context and are easier for customers to access and use.
How virtual and augmented reality will change retail
Between Microsoft's HoloLens and the Oculus virtual reality headset, there's a huge opportunity for retailers to use these innovations to enhance the customer experience. Harvard Business Review examined this last month looking at how virtual reality (VR) and augmented reality (AR) will impact retail experiences.
Some examples of how VR and AR will transform the stores of the future included:
- E-Commerce-only retailers using a 3D channel to virtually recreate the the in-store experience
- A virtual makeup mirror that learns consumer preferences
- Sporting goods stores providing virtual tryouts of sporting equipment
Infographic of the Month: 'The State of US Digital Display Advertising'
Digital advertising is reshaping the way brands engage with consumers, and display ads make up a large piece of this digital advertising pie. In September, an infographic by Business 2 Community looked specifically at the state of digital display advertising.
Collating some of the latest statistics and trends, some of the most revealing insights included:
- Digital video display ad spending will reach $14.77 billion by 2019.
- More than 66 percent of U.S. digital display ad spending is programmatic.
- Display ad spending will dwarf search ad investments this year.
Blog post of the month: 'What You Need to Know About First-, Second- and Third-Party Data'
Not all data is created equal and getting your hands on the right data to create effective and precise audience segments is tough. So whether you are using first, second or third-party data or a mixture, it is essential to understand the difference and how each will impact the effectiveness of your marketing campaigns.
In this article by J.F. Houpert, Director of Data Solutions at iperceptions, he outlines the differences between first, second and third party data and what marketers need to know to boost the performance of their marketing campaigns.