With so many digital formats available for marketing, advertisers are understandably confused about how to allocate their budgets. In addition, executives are also struggling with how to spend in order to align with their industry versus the approach they should take to reach consumers. Advertisers might want to check out the report, Mind the Digital Marketing Gap, from Lyris to learn what other businesses are doing.
The Lyris surveys considered the opinions of both consumers and marketing executives in key industries like apparel, banking and travel. One finding of this survey shows that consumers are well aware of marketer attempts to personalize communications with them. At least 70% of consumers get annoyed when these personalized communications are superficial. And, 63% also say the personalization trend is so overwhelming, the message is lost on them. Marketers should move on to the next level and offer customized promotion to keep from annoying their targets.
Consumers also sent a message to apparel retailers in this survey. More than anything else, these shoppers (75%) want price and promotional information from vendors. Apparel shoppers didn’t claim to be high users of online channels for purchasing these products but they did note that they pay attention to peer reviews. Travel customers also claimed to use online channels at lower than average rates. Marketers targeting these consumers appear to be ahead of the game with at least 70% of vendors using online to increase revenue. At least 23% of senior managers in this industry are making it a priority to collect data on consumers and are then using this data to present product information to travel shoppers. The banking industry appears to still be focused on reputation management. More than any other industry in this study, banks are reaching out to make customers happy (28%) and retaining them (42%). Bankers are less fixated on the personalized promotions that are popular in travel and apparel.
As this study shows, every industry should approach digital marketing in a way that heeds what consumers expect yet also maximizes engagement and revenue. Have you rolled out campaigns this year that aim to improve the reputation of both your industry and your company?