Market research firms ranked second only to financial institutions on our trust index, with 52.7% confirming their trust in market research firms to protect their data, and 8.8% noting a strong trust in the same. Indeed, even though people arguably share similarly sensitive information on both social media sites and with researchers, they are 1.6 times more likely to trust researchers than social platforms.
Why is this? It’s because it is the duty and responsibility of market researchers to foster a relationship of trust by openly engaging people, diligently protecting their data and privacy, and fairly rewarding them for their participation — and it is because that mission is continuously reinforced and communicated.
By facing the harsh truth that we need to lean into disruption – instead of patching up past approaches or creating inadequate work-arounds – our industry will build something better that helps us increase value in our marketing spend. Shifting to CMM would provide a framework to address the full business (not just marketing) needs, and help us all be ready to adapt through data-driven decision making. And when you can adapt, you can build competitive advantage, evolve, and thrive.
The answer to solving the personalization dilemma lies in data. Retailers that are able to both harness and analyze data will be able to make the calculated decisions to improve their customer experience and give shoppers the personalized process they desire. However, only 27% of global retail and wholesale purchase influencers say that improving the use of data insights is currently a top priority. Artificial intelligence and machine learning tools can help dissect the data retailers receive, but it starts with the desire and capability of getting smarter about customer experience.
On this edition of Location Weekly from the Location-Based Marketing Association: X-Mode acquiring the assets of Location Sciences, Placer.ai raising $12M, Stasher getting $2.5M to help travelers stow their luggage, MGI acquiring Verve, Kroger launching a new lab on digital grocery innovation, and H&M launching pay later with Klarna in the US.
An unfamiliar sight has emerged among the familiar photos of family gatherings posted to social media this holiday season: people wearing next-generation virtual reality devices. Between the turkey and pie courses, grandma strapped on a headset and jumped into a futuristic reality.
Thanks to rapidly evolving technology, lower prices, and the support of 5G networks, this uncommon sight may soon become a common experience. While just 11% of Americans reported owning VR technology in 2018, VR hardware and software sales are expected to skyrocket 587% to $5.5 billion by 2023, up from an estimated $800 million last year.
The move from tethered to standalone VR stands to change the way users connect with every aspect of the world — including e-commerce.
Video is already an effective and established form of content for consumer-facing brands. But as a content format, it has undergone dramatic developments in recent years, changes that look set to continue in 2020. The new year will feature more personalized videos, long-form experimentation, 360-degree footage, and shoppable images.
Read on to learn more about the video trends for 2020 your brand needs to know.
We start off with TourByLocal getting $25M to match tourists with 4,000 guides in 162 countries, Albertsons launching Pinterest-Powered In-Store mobile recipes, and Google buying Pointy to boost brick&mortar retail.
After the Worldline interview from NRF, we continue with news from our two member companies: Gimbal giving mobile users control over their location data and Delta reducing travel stress with updated app features.
Consumers have limited time, detectable habits, and preferences about how they interact with brands. Marketers have become increasingly empowered to know and respond to these preferences on all channels.
As brands leverage opportunities offered by omnichannel marketing and further embrace the technology that unlocks each channel’s capabilities and insights, they will give customers the personal experiences they crave. Beginning the journey toward true omnichannel can be daunting, but the immense value it creates for both customers and brands far outweighs the rethinking, reinvention, and innovations it demands.
In recent years, the marketing industry has started to discuss the increasingly blurry line between the disciplines of B2B and B2C marketing. For the most part, the conversation to date has been a discussion of tactics and methodologies—but this is only the tip of the iceberg.
Over the next five years, the breakdown between the B2B and B2C worlds will be dramatic, and the resulting marketing landscape—as well as people’s expectations for messaging—will look quite different than they do today. Let’s look at how this blurring line will soon vanish altogether.
CES provided a unique showcase for the importance of connected TV (CTV); it’s one of the few events that wrangles hardware, media, and advertising companies into the same place for a week. Within digital advertising, this topic is number one, and not outlining your strategy to support CTV in 2020 was a way to cut any CES meeting short. Companies that have moved from video to TV, such as Amobee or Telaria/Rubicon, exciting new combinations of TV and digital assets such as Xandr; programmatic TV leaders like The Trade Desk; and companies that have been long on TV for years such as Samba TV should have a fantastic 2020 ahead of them.
This week on the Location-based Marketing Association podcast: a new app for location-based tool rental platform Leveld; Canada Goose crafting an engaging store experience with snow and ice; and JP Morgan Chase offering DashPass to premium cardholder members.
Asif and Aubriana continue with a groundbreaking step from the longest running musical on broadway, the famous Phantom of The Opera, becoming the first in the industry to leverage Alexa, Earth Fare going with Mood Media for upgraded digital signage, and Sprint & Wirecard teaming up on IoT payments.
CCPA isn’t the only factor that will impact privacy and data collection. There are less-discussed and potentially more significant variables like the death of browser cookies and other tech-centric measures. Especially for location tracking, private sector influences and accelerants loom.
Brands have an obligation to adhere to what their customers care about, but given how easy it is for people to digitally project an aspirational lifestyle, it’s no wonder brands are having a tough time understanding who their consumers are and what they want from the brands they support. To combat this knowledge gap and align what consumers say with what they actually do, we need more real-world intelligence.
I’m fresh from a couple of days wandering the halls of the Consumer Electronics Show, affectionately known as CES — the annual conference that descends upon Las Vegas in January and proffers the latest in technological solutions to improve every aspect of our daily lives. This is my first time attending the world’s biggest technology conference, where 4,500 companies this year are vying for the attention of 180,000 attendees, according to my Uber driver.
As I made my way through the crowds at the massive Las Vegas Convention Center and other conference venues, I tried to get a sense of the common themes defining consumer innovation as we begin a new decade.
Curious about the future? 2020 will be more dynamic for the location industry than the past year.
This week on the Location-Based Marketing Association podcast, we are talking about our expectations and predictions for location-based marketing.