Every year, Nielsen releases its Annual Marketing Report – a grand-reaching survey that summarises previous years while revealing insights about the one ahead. It is of vital importance to marketers as it can help them to evaluate their current programs and potentially make changes for the better.
This report is particularly significant as it is the first time that the Annual Marketing Report has expanded to a global audience. It details where marketers have struggled across the past two years as consumers’ habits have changed. In addition to this, it has outlined some of the areas where brands should focus in the coming year. Named “Era of Alignment”, it carries vital insights that marketers of every level should look into.
What did the report reveal?
The Annual Marketing Report was created by surveying close to 2000 marketers from all around the world, and then collating the data to see what trends and patterns have emerged. One of the biggest insights by far was the lack of confidence many marketers had in their data. As one of the most important metrics that could influence a customer, it is vital that marketers have a handle on their data and understand how it can be used.
69% of marketers were revealed to think that first-party data was a crucial part of their campaigns and strategies. While 72% of marketers thought that they have access to quality data, only 26% of global marketers were confident of the data they were getting from their audience.
The report also laid out four key takeaways that could help to shape further strategies in the future.
Brand awareness is key
Brand awareness was revealed to be one of the most important factors carrying through into future marketing. With more people choosing to shop and browse online rather than in physical stores, there has never been more competition online.
To stand out and reach the goal of good brand awareness, a company needs to ensure that they have a good selection of channels on hand to reach as wide an audience as possible. 64% of marketers in the Annual Marketing Report put social media as the most effective paid channel. Within that, TikTok and Instagram had the most spend.
In addition to this, it is vital that marketers focus efforts across their entire customer journey. The customer acquisition process is not the easiest to manage, but data shows that it is the second most important metric that marketers care about.
Use data to create personalised marketing strategies
With an increase in channels, there are plenty of chances for marketers to generate an abundance in data sets. In this, marketers have the chance to create a data set that truly speaks to the consumer on the individual level.
It is also important to note some of the many challenges that emerge when considering these new channels. Connected TV (CTV) is one of the biggest focuses for marketers around the globe. The Annual Marketing Report noted that 51% of marketers had plans to boost their CTV spending in the coming year.
Unsilo cross-platform measurement
A holistic approach is needed in the future if marketers are to move past this lack of confidence in data that we see at the moment. Only 54% of marketers currently have confidence when measuring ROI across their full funnel.
The report states that many solutions and strategies don’t account for both upper- and lower-funnel marketing within the same plan. Many will target one or the other, and it is rare to see both of them acting together. Brands need to create a holistic approach that allows the optimisation of the channel mix for both. Overall, the aim should be to create a balanced plan that can account for the needs across the short- and long-term.
Create a brand promise to connect with consumers
Brand affinity is on the rise. It is more important than ever that companies across all niches are able to connect with their consumers and build genuine connections. Customers are always going to use the brands that they have more of an affinity with than others.
To create this affinity, a promise needs to be built right into the structure of the brand. A company needs to be prepared to offer value to their customers, no matter what form it might take, and through this they should see affinity beginning to arise.
Always look to learn
The Annual Marketing Report is one of the most important documents that marketers can learn from, and it is packed with insights that can help to form campaigns.
It is crucial in a fast-paced industry like affiliate marketing that marketers work to ensure that they always acquire the latest knowledge. This is why Affiverse is back with the ELEVATE Summit in June! We have brought together some of the leading experts in the industry to discuss some of the biggest insights for the year ahead. Grab your tickets now!
