The new iProspect Future Focus report finds brands struggling with eCommerce approach
New study reveals that 2 in 5 marketers still think the path to purchase is linear, despite the rise of digital. 25% of marketers globally consider expanding commerce capabilities as their big challenge for 2021.
Media agency iProspect, a dentsu company, officially launches Future Focus 2021: Brands Accelerated as the essential read for conscientious marketers seeking to explore and exploit the latest consumer and industry advancements for brand growth. The 75+ page report, which is free to download, addresses some of the most pressing aspects of modern marketing including the battle for attention, wholesale changes in data privacy, and the emergence of assisted commerce.
Combining evidence-based research with interviews and responses from over 200 brand marketers in 29 countries, the Future Focus 2021: Brands Accelerated report delves deep into the challenges and opportunities faced within the immediate media landscape.
Convenience and relevancy of media to the consumer is key, as 61% of marketers, polled for the report, considered ‘building a highly convenient experience for the consumer’ as the most powerful lever to generate business growth*.
The findings showed that around 2 in 5 marketers (42%) still think the linear path to purchase is as relevant today as it was decades ago, despite the rise of digital. While at the same time 32% of marketers feel that expanding commerce capabilities is important for the 2021 roadmap, however 26% see this as one of the most difficult challenges to face this year.
Maria Grachnova, CEO of dentsu in Southeast Europe, comments: “In the new highly connected world, there are more than ever significant intersections of media, data, commerce and culture. These create new opportunities for marketers and media, and for eCommerce.
With iProspect’s unique approach of performance-driven brand building, we are firmly optimistic about the future of eCommerce also in the Southeast Europe region. Our expert teams help our clients in this sphere today, and in the future, in all verticals with our unique Commerce Success Framework model.”
Practical advice to marketers
The report spotlights the relevancy and opportunity for brands, regardless of sector, to capitalise on these seismic shifts in the media landscape.
Examples of the report’s advice and guidance for marketers worldwide include:
- #1: Commerce is Everywhere Organisations should strive to build and maintain an accurate picture of their commerce capabilities across five key dimensions: desirability, availability, findability, buyability, and repeatability. This will help them define the most profitable commerce model for their brand, better integrate their e-commerce and stores into an actionable omnichannel strategy, explore new growth channels, and turn media opportunities into transaction opportunities.
- #2 The Battle for Attention Brands should consider factoring attention into their media optimisation and measurement efforts to elevate the impact and efficiency of their investment. To maximise audience attention, they should ensure the content and experiences they design truly align with consumer intent, and that the campaigns they develop do not relegate diversity and inclusivity as afterthoughts.
- #3 The New Data Playbook On the data front, organisations should embrace the new privacy-conscious world by re-evaluating the value exchange they offer to their audiences and anticipate technological changes to minimise business disruption. This is the occasion to explore opportunities for automation, evaluate the quality of the data they collect and process, and more broadly reflect upon how data is effectively used to inform decisions.
The last point is of particular significance as the report found in some circumstances there are huge disparities between what the consumer and brand marketer think, when it comes to assessing data value. Only 9% of marketers believe helping a company improve products or services is an incentive for consumers to share their data, while 44% of consumers believe it is a good enough reason to release personal identifiable information (PII) to the brand.**
For more information about the new iProspect and to download the Future Focus 2021: Brands Accelerated report, visit www.iProspect.com
**iProspect 2020 Global Client Survey (Oct 2020) and iProspect and Microsoft Advertising, Consumer Privacy and Data Survey (Mar 2020)
iProspect, a dentsu company, is a global digital-first end to end media agency. Its unmatched mix of media strategy and storytelling with digital expertise and audience knowledge defines the new territory of performance-driven brand building. By delivering human-centric solutions, iProspect accelerates growth for the world’s most iconic brands.
The iProspect team works across a network of more than 8,000 media and performance specialists spread across 93 markets, being also present in Southeast Europe in Bulgaria, Croatia and Romania.
About dentsu Southeast Europe
Part of dentsu international, dentsu Southeast Europe is made up of four leadership brands – media agencies Carat, dentsu X and iProspect, and creative agency Isobar all of which are supported by its specialist divisions and scaled services. Marketing Communications group dentsu Southeast Europe helps clients to win, keep and grow their best customers and achieve meaningful progress for their businesses.
With best-in-class services and solutions in media and creative, dentsu operates in Southeast Europe in 10 markets – Romania, Bulgaria, Croatia, Serbia, Slovenia, Bosnia & Herzegovina, Kosovo, Montenegro, North Macedonia, and Albania – with more than 300 dedicated specialists.