Marketers continue to invest heavily in digital channels that are outdated and increasingly ineffective, driven by industry pressures to deliver greater volumes of interactions without fully understanding the impact it has on brand value.
Only by focusing on delivering greater Brand Engagement rather than simply greater volume of interactions, marketers can begin to influence business outcomes and transform the value of their brands.
In our White Paper, we explore the research that underpins the need for marketers to shift to achieving greater Brand Engagement.
The future of Brand Engagement
The White Paper includes clarity on how to understand and measure Brand Engagement and provides details on the one channel that is set to define Brand Engagement in the future.
Recent research by Lumen has highlighted that only 9% of digital advertising is viewed for more than a second and, with figures showing that an eye-watering £8.61 billion was spent on UK digital advertising in 2015, it’s clear that marketers are wasting a high percentage of advertiser’s money.
If we dig a little deeper into the research from Lumen, we can see that only 4% of digital advertising actually receives more than 2 seconds of attention. This, by anyone’s standard, is a poor return on investment for advertisers looking to connect with an increasingly active and Digital First audience.
Let’s move beyond tradigital
Consumers of all ages and backgrounds are becoming increasingly Digital First (tablet ownership is actually higher amongst the over 55s than the under 55s) and this presents new opportunities (and challenges) for marketers managing growing digital budgets.
When we consider that defining a Digital First audience has now moved beyond just Millennials who have grown up in a connected world, the situation for marketers is crystal clear – it’s time to move beyond ‘tradigital’ (traditional digital) channels to remain relevant.
It’s time for marketers to pivot
Whilst digital advertising is by no means the de facto measurement of Brand Engagement for digital-first audiences, it does clearly demonstrate the need for marketers to rethink and pivot their brand strategy to channels and content types which deliver greater Brand Engagement.
So, why is brand engagement so important?
“Customers who are fully engaged represent a 23% premium in terms of share of wallet, profitability, revenue, and relationship growth over the average customer.”
The Gallup research goes further, identifying industries where greater customer engagement has resulted in conclusive evidence of the key role that Brand Engagement has in delivering true value to business:
If we then reflect back on the lack of engagement currently being achieved across tradigital channels, then the need for change becomes even more important.
Brands that manage to go beyond simply a transactional interaction with their audiences (i.e. clicking on a banner ad) will always out-perform less engaging brands.
The most successful brands go above and beyond tradigital channels to make meaningful connections with their customers and
Levels of engagement are plummeting
The ability to target more effectively (i.e. programmatic) and the explosion of formats and channels have certainly evolved and yet the level of engagement has plummeted as highlighted by the Lumen research.
Brand Engagement needs to go at the top of marketers objectives if they are to achieve demanding growth targets and it is no coincidence that a growing breed of CGOs (Chief Growth Officer) have marketing backgrounds.
Marketer’s route to the top
According to the research by Russell Reynolds Associates’, senior marketers that can link brand engagement to business growth are the CEOs of the future, making the ability to improve Brand Engagement a prerequisite for professional advancement.
In the complete version of the White Paper you will discover more industry insights and practical steps to help you increase Brand Engagement including:
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