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Outer space movies depicting crew cafeterias that produce meals at the push of a button might not be so off anymore. Israeli Redefine Meat has 3D meat printing technology known as Alt-Steak, a plant-based meat…Reblogged 26 minutes ago from coolmaterial.com
The World Bank predicts that the global economy will see a 5.2% contraction in global GDP in 2020. This could mark the darkest recession since post-WW II. As 53% of CFOs face this reality with the fact that there will be a roughly 25% decrease in revenue and profits this year, they’re in no mood to focus on their cornflakes. In fact, PCW’s CFO pulse survey shows that 50% of CFOs plan to accelerate automation and new ways of working.
Our Pulse Survey 2020 has been tracking marketing leaders’ focus on marketing and marketing technology budgets through March till June. These were some concrete outcomes:
Our Pulse survey also identified that email marketing (49%) and SEO (53%) are hands down the front runners in the marketing technology race.
As email marketing has been resilient, tried and tested tool for brands to drive customer engagement, tap into their customers’ minds, and influence customer experience through their inboxes, our next segment drills into details that will provide effective insights on:
Acoustic researchers analyzed email marketing data including – send volume, open rates, click-through rates, click-to-open rates, and unsubscribe rates across thousands of campaign customers globally. They found that the global email open rates increased at an average of 4.7% from February to April.
The COVID-19 impacted each industry in an accustomed fashion and these trends are an exact reflection of these unusual times.
The top three sender industries were:
Whereas, the least active industries, for obvious reasons were:
Interestingly, if you focus on Invoca’s graph, you’ll notice that the trend line for “Consumer products” and “Retail” is almost the opposite, showing that April was the tipping point to the highest “high” and lowest “low” for the respective industries.
Australia, New Zealand, the UK, Ireland, and Continental Europe were the most receptive to emails while India, Asia Pacific, Middle East, Africa, and North America settled at the underbelly. At an aggregate level, email marketing experienced a 16.8% average growth rate across all the regions.
In terms of CTR from January through May 2020, Europe and the UK have outdone all the other geographies with a 2.9% average growth rate.
“An important message from our CEO” types of emails were a hit with great open rates but didn’t earn too many call-to-action clicks.
North American countries had a 38% jump in open rate, April vs February. While the USA and Canada specifically showed an average increase of 5.4% in their email open rates.
“How to do business with us” led to higher open rates and even more importantly an increase in click-through rates.
Netflix, the mastermind OTT platform continues to pique our readers’ interest. The next hot topics remain our key insights articles and marketing strategy-centric articles.
The post Key Insights: Email marketing the titanium of martech, global dips can’t curb strategy, and more appeared first on ClickZ.Reblogged 1 hour ago from www.clickz.com
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As the world continues to self-isolate and deal with the ongoing effects of the pandemic, this global event has become a crossroads moment for the data privacy movement.
Thus far, the outbreak has exposed the difficult balance between using ‘data for good’, to help monitor the spread of COVID, and the fear of the potential of using ‘data for bad’ where the government and others acquire the taste for surveillance and continue to monitor consumers once we flatten the curve.
We are in unprecedented times, which means that governments are calling on desperate measures in order to help keep people safe. Right now, many countries have started to consider using technology and location-based data tracking tools to keep up with their citizens in an effort to help prevent the spread of the disease.
This is where things get political.
The concept of digital contact tracing, which uses either Bluetooth (BLE) and/or location data to track people who have come in contact with the virus, has come to the forefront as a method for helping trace cases of COVID-19.
But there is a problem – Google and Apple won’t let you use location data and are instead promoting the use of a Bluetooth (BLE) system developed by them. Why?
When iOS cut its location data in half, Apple maintained it was due to privacy concerns, but for years these tech giants have allowed the collection of ample data from companies that did not have the same mission as the government in tracking a pandemic.
Is this because Apple and Google are adamant about not letting their data get into the hands of the government? Are Apple and Google putting their needs ahead of consumers?
Is BLE better at tracking the disease than location data? There is more going on beneath the surface, and privacy and data control are what’s really driving this.
Thankfully, some U.S. lawmakers appear to have a solid understanding of the broader stakes involved here.
Officials are now attempting to take appropriate measures to prohibit the misuse of user data, requiring tech companies to delete sensitive data once the health crisis has passed, and meet required security standards that prevent data from being used for other commercial advertising, marketing or political purposes.
A recent Axios poll has proven to be a key indicator of the mistrust that the American public has in how businesses manage their personal data.
The study showed 66% of respondents saying they would be not at all, or not be very likely, to use a contact tracing system made by major tech companies, but would instill their trust in a system provided by the Center For Disease Control.
Ranking even lower than tech companies – the government – with 68% saying not at all, or very likely no to this as an option – yet the majority of COVID tracking applications that are hitting the market are, government applications.
While safety should be of utmost concern right now, consumers need to be vigilant and not let lawmakers override progress made on their data privacy rights.
The reality in 2020 is that consumers have become much more aware of their rights, how much value their data has, and the critical need to establish privacy and control on a global scale.
Many forward-thinking governments are starting to rethink data privacy and getting tougher on tech companies who have a strong grip on user data.
In January, California introduced the California Consumer Privacy Act (CCPA), a landmark bill aimed at cracking down on Big Tech and restoring data privacy rights and consumer protection.
Last year, Governor Gavin Newsom introduced legislation designed to provide people with a ‘data dividend,’ which would effectively put a financial value on people’s personal information.
And Andrew Yang, the former presidential candidate, has called for a Universal Basic Income (UBI), which ladders up to the notion of leveling the playing field between consumers and corporations.
Unfortunately for both Newsom and Yang, their statements, while inspiring, lack a plan of action. How exactly are UBI and the data dividend being distributed? They are not.
In a market where the US employment rate has risen to 15 percent, now more than ever people need help, and the concept of compensating people for their participation in a data exchange is increasingly becoming a reality.
The multi-billion dollar global data market has zero consumer inclusion yet it continues to generate billions of dollars for corporations each and every year.
Considering that all data is a manifestation of a consumer’s identity, there’s a growing need for a mechanism that allows consumers to see who is using their data, consent to its use, and receive some fair compensation.
If this framework was in place the debacle around COVID tracing would be moot as the infrastructure to roll this out would already be established.
Skeptics often default back to their selfish agenda of ‘how much money can I make’ or ‘there isn’t enough money in it for me’ but they are missing the point, and this is where the current situation ironically can help.
Yes it’s true that for many a few dollars a month is maybe not worth it to ‘them,’ but a few dollars a month multiplied by 350 million Americans does.
Instead of the politics and skepticism that is driving tracing applications now, a system where millions of Americans can venture into a system immediately to help monitor COVID without having to onboard a new product hastily created by the government would allow us to collectively jump the cue and get us to a solution.
Having total control over data is a fallacy; consumers can’t own all of the data, but consumers should have the tools and the option of participating and transparency.
Every tech company including Facebook, Amazon and Google, uses consumer data But with the average user’s data worth approximately $500 per month, consumers aren’t involved in any part of that transaction.
Facebook, for example, had net revenue of over $70 billion last year and monthly value of $35 per month on each North American consumer.
Why is this relevant? The point is that the data is available to get to the source of COVID tracing but what’s preventing us from getting to a solution is greed and politics.
Apple and Google won’t give data on consumers to sovereign governments about a global pandemic, but yet Google will give this same data to anybody that wants to advertise? Something’s wrong with this picture.
More than ever, consumers are demanding full transparency when it comes to the entire value chain and should be entitled to see exactly which businesses are buying their data, and what exactly they’re doing with it.
Giving the user increased control would also solve all of the macro problems that are rampant in the data market such as fraud, the fidelity of data, privacy and consent.
The future of data is consumer inclusion, and now we’re seeing governments starting to put the right measures in place to allow them to take back control of their digital identity.
While the public health crisis has raised many questions about how governments and businesses can and should be collecting personal data, the people have already spoken and there is no turning back on their hard-earned privacy rights.
The post Amidst the pandemic, bringing the power of personal data back to the consumer is imperative appeared first on ClickZ.Reblogged 14 hours ago from www.clickz.com
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The rise of digital means that consumers have limitless options online for where to purchase goods and procure services. Because of this, brands need to put in the work to distinguish themselves online from their competition – but they will not achieve this by simply employing aesthetically pleasing colors or flashy, interactive content. Rather, they need to bring it back to basics: the brands that will beat out the competition, increase conversions and improve customer loyalty are the ones who have seamless digital customer experiences (CX).
Digital CX has become a C-suite discussion and business priority in recent years, perhaps even outpacing the traditional four Ps of marketing as the most important piece.
With even the smallest technical glitch being enough to prompt consumers to abandon a sale and shop elsewhere, it’s critical for brands across all industries to ensure their websites and apps are operating as efficiently as possible.
In today’s landscape, where people increasingly rely on digital versus in-person experiences to shop and engage with a brand, digital presence is currently the main – if not sole – opportunity for brands to lock down sales.
There is no room for faulty or frustrating experiences, which can put loyalty and conversion rates on the line. Here are the steps brands can take to alleviate poor digital customer experiences in order to maximize the number of consumer conversions.
What matters most to a consumer looking to make an online purchase or complete a service digitally is the ability to do so seamlessly.
While complex, interactive experiences can lure audiences in, consumers ultimately prize fast, easy-to-navigate web pages. Any digital experiences that fail to meet these baselines ultimately compromise conversion opportunities – and can also have real-world consequences for the consumers.
Decibel analyzed data from over 10 billion user sessions across its U.S. and European clients in the retail, finance and insurance industries in 2019.
The findings revealed that user frustrations, interpreted through multiclick behavior and erratic device rotations, are the most prominent in the insurance industry, followed by finance and retail.
As such, the retail industry did a slightly better job than the other two industries when it comes to delivering an optimal customer experience. This means that everyday insurance and financial services providers are struggling to fulfill the essential services for which consumers are enlisting them.
In action, these frustrations block consumers from being able to complete tasks like process checks via their smartphones or file insurance claims from their home computers – tasks that typically depend upon accurate and timely completion.
Especially pertinent for individuals who are unable to physically visit their providers and rely on a digital platform to facilitate these services, a poor digital experience can quickly cost a brand consumer loyalty.
Before investing in flashy content on their brands’ digital pages, CX leaders should confirm that their platforms are first serving their fundamental purposes, because aesthetics won’t matter if consumers can’t complete their intended transactions.
For direction on where to improve digital interfaces, CX teams can monitor consumers’ digital body language, or the interactions and gestures users make on a website or app.
These behaviors are important to those managing their brand’s digital CX because, as confirmed in another Decibel survey, most consumers do not report a poor digital experience, meaning CX managers need to be proactive in identifying areas for improvement in the absence of user feedback.
Understanding what different behaviors signify can guide CX managers in their digital improvements. For example, multiclicks may represent a slow-loading webpage or a broken link, while erratic device rotation may signal that content is populating incorrectly or is obstructed by ads.
The more unusual behaviors CX managers witness from users, the more concerned they should be about the quality of their platforms.
Traditional analytics tools like Net Promotor Score (NPS) surveys are no longer fitting measurements for today’s dynamic digital platforms.
While these surveys can clue brands into how consumers perceive their websites and apps overall, NPS often doesn’t provide further explanations on why those consumers feel the way they do – and this insight is essential for CX managers to make educated, impactful adjustments.
Thankfully for brands, a new wave of interest in perfecting the digital customer experience has produced digital experience intelligence platforms that collect data on user behaviors to make the task of better understanding online shoppers easier.
Presenting the best digital customer experiences possible is critical for companies’ survival nowadays, because if consumers aren’t satisfied with a brand’s platforms, competitors are just a click away.
CX managers can’t afford to wait for their website or app experience to fail in order to start optimizing the experience. Brands need to be proactive in mitigating consumer frustrations to assure customers have the best possible experience at no risk to company performance.
Shane Phair is the CMO of Decibel, and is responsible for leading global marketing and communications efforts and guiding the brand through its next wave of international expansion.
The post Cost of common digital CX frustrations, and how to prevent them appeared first on ClickZ.Reblogged 1 day ago from www.clickz.com
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