The Government's newly released National Innovation and Science Agenda shows that for economic growth to continue within Australia, an 'innovation ecosystem' must be fostered, where new businesses with new ideas are encouraged to grow and flourish. With every company wanting to increase, retain or improve their customers’ experiences, this makes marketing vital to fuelling Australia's ideas boom.
Traditional print media and TV remain the two most preferred media channels for Australian consumers to view ads, according to a new survey sponsored by digital and creativity software vendor, Adobe Systems.
The Marketing Myth Busters report was compiled by market research group Edelman Berland, and found 40 per cent of consumers surveyed enjoy reading and viewing advertisements, with print magazines and favourite TV shows top of the list (33 per cent and 31 per cent respectively).
In contrast, more than half said online advertising was ‘annoying’, 39 per cent found it ‘distracting’ and 38 per cent said it was ‘invasive’.
The research also revealed 95 per cent of Australian consumers believe marketing influences their purchasing decisions. Seven-eight per cent of consumers believe marketing creates brands, against 93 per cent of marketers, but just 50 per cent said marketing should define future products (compared with 77 per cent of marketers).
The latest report was based on a survey of 250 senior marketers, as well as an online-based survey of more than 1000 consumers over 18 years old. It is the first of its kind undertaken by Adobe.
When asked about their view of certain types of promotions, 75 per cent of consumers rated funny ads as more effective than sexy ads. The report also found advertising created by professional marketers are perceived as most effective with the Australian consumer, followed by consumer or user-generated content. Not surprisingly, recommendations from someone the consumer knows and trusts, such as family, friends and co-workers, are most valued when it comes to considering a product or brand (69 per cent of respondents), followed by consumer reviews (45 per cent) and highly rated professional reviews (30 per cent).
When it comes to a company customising its products or services for customers, 53 per cent of respondents are ‘neutral’ and 38 per cent ‘positive’. There are plenty of concerns however around the privacy of data, and 84 per cent of consumers agree companies collect too much information on them. In addition, 82 per cent believe consumers have lost control of their privacy, and 73 per cent see targeted advertisements to consumers based on their behaviour as ‘creepy’.
According to Adobe Systems MD, Paul Robson, the research highlights the need for marketers to make better use of data when embarking on digital marketing activities to ensure they are relevant when communicating and engaging with consumers. The more personalised the approach, the more likely it is consumers will click on an ad online, and the greater the impact and ROI.
“The takeout from this research is that mass market activities online are nowhere near as effective as targeted information,” Robson told CMO. “With the right level of personalisation, advertising ceases to be advertising and becomes relevant content.”
The results also reflected social media’s role in driving engagement, and as a game changer in the way traditional industries communicate and consumers value information, Robson said.
“The expansion of peer-to-peer marketing is upending traditional industries as it expands from goods to include services. Industries from hospitality, education, tourism and transport must all now contend with peer-to-peer recommendations as the sharing of information immediately through social channels becomes the norm,” he added.