Digital Marketing Budgets in the Banking Industry Set to Explode

Financial marketers will be spending more and more on paid digital advertising in the next five years. This exclusive report looks at the digital advertising trends that will be reshaping the banking the industry in 2015 and beyond.

Ad spending on digital media by US financial institutions industry will top $7 billion in 2015, a 14.5% gain over 2014, according to a report from eMarketer.

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Global brands to invest $200bn in digital marketing this year- report

Global brand and retail spend on digital marketing activities will reach $200bn this year, up by 15% on 2014 levels as shoppers switch to mobile sand tablets, according to new research.

The research, from Juniper Research, observed that nearly 70% of the net increase on digital marketing spend this year would be concentrated on mobile and tablet devices, as brand strategies evolve to deliver campaigns within an omnichannel digital environment.

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Is online video the saviour of fragmented digital marketing?

Fragmentation and complexity have long been the biggest barriers to digital marketing’s advancement – maturing video tech is solving many of these issues.

Fragmentation and complexity has, in my opinion, always been the single biggest barrier to digital marketing’s advancement. Brand managers for whom communications is often just a small slice of their daily workload are understandably put off when a digital expert rolls up explaining the latest complexities and technical capabilities. Just imagine for a minute how stunted the wider creative sector would be if every TV channel demanded a different execution, or if marketers had to learn about the intricacies of film-making equipment before they yelled “action”.

Video promises to be the great unifier – a simple, well understood format that can spread itself across most major digital media channels, delivering believable return on investments in the process. Among other things, 2015 is clearly the year of online video, with platforms like Facebook and Twitter racing to build out offerings as comprehensive as established giants like YouTube or AOL.

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Digital marketing must get to grips with data chaos

Digital marketing is at a crossroads. Brands, consumers and the marketing and advertising industry are seemingly on a collision course. They share the same goal, namely, to engage with each other in the right place, at the right time and with the right message, but are approaching it in very different ways.

Marketing leaders want to understand, reach and convert digital consumers – in a way that works and makes the most of their budget. Consumers looking for products or services want personalised treatment and relevance, at any time, on any device and through any channel. Linear purchase journeys are a thing of the past. Consumers interact directly with brands, or indirectly through performance channels, social media sites and others; generating clouds of search, browsing, context, location, purchase and other data as they go.

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Personalised marketing at scale is the next big thing in digital

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If you haven’t heard this latest buzz phrase yet, you’re missing out. “Personalised marketing at scale” might be fast becoming the newest digital marketing trend, but far from being a throw-away gimmick, it represents a new way of thinking that will permanently transform our media approach.

In essence, it’s the ability to reach different consumers with different creative messages, rather than having to have a single TV advert that everyone sees. It means you can subtly tailor your executions based on demographics, interests, location or even purchase history, reaching millions of consumers but each with something that seems personally relevant and interesting. The tweaks can be subtle, like different copy or video thumbnails, or can be more dramatic – brands could for instance position themselves entirely differently to excite teenagers versus the parental audience who might actually be the ultimate purchasers.

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77% of businesses plan to increase digital marketing budgets this year

Investment in digital marketing continues to grow, with 77% of marketers saying their companies intend to increase budgets in 2015.

This is one of the findings of Econsultancy’s Marketing Budgets 2015 Report, published in association with Oracle Marketing Cloud.

Here are a few highlights from the report…

Companies increasing digital marketing budgets

Over three-quarters of marketers surveyed indicate their companies plan to increase their digital marketing budgets for 2015.

This is a significant increase of 8% since last year (and 13% since we first carried out this survey six years ago).

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11 intriguing digital marketing stats we saw this week

Out-of-home revenues

UK advertisers invested more than £1bn in out-of-home campaigns during 2014.

Q4 was the biggest ever, with revenues close to £300m for the first time.

The growing representation of digital inventory in media owners’ portfolios continues to pay dividends as digital out-of-home now accounts for more than 28% of the total revenue within the medium.

Growth in mobile commerce

Data from Ipsos and PayPal shows that mobile shopping is growing at nearly four times the rate of overall online spending in the UK.

From 2013-2016, the UK average compound annual growth rate for mobile spend is projected at 36% vs. 10% for overall online spend.

However this is mainly due to the relatively small base size for mobile commerce.

As a percentage of UK online spending, smartphone shopping accounts for on average 8% of online spending while shopping on tablets accounts for only 6%. In comparison, laptops, desktops and notebooks together account for 86%.

Digital to account for 50% of UK adspend in 2015

Half of UK advertising spend in 2015 will go on the internet and mobile devices, according to data from Strategy Analytics.

Nearly £8bn is forecast to be spent on digital advertising in 2015 – over twice that spent on TV (£3.8bn, 24% share).

Print follows at £2.5bn (16%), outdoor at £910m, radio at £492m and cinema will account for the remaining 10% (£179m).

UK app revenues

New research from App Annie shows that while the number of app downloads rose 5% in the UK during 2014, the revenues being generated were up 30%.

Games are the most popular type of app, but people are increasingly using media apps for reading newspapers, watching TV or listening to music.

For example, among the top ten non-gaming apps, by revenue, were three newspaper apps from the Guardian, Times and Telegraph.

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