With all the talk about fake news and misleading ads, it’s no surprise that consumer trust is falling across government, business and media groups.
Indeed, in the executive summary of Edelman’s 2017 Trust Barometer, the organization notes that:
“The 2017 Edelman Trust Barometer reveals that trust is in crisis around the world. The general population’s trust in all four key institutions – business, government, NGOs, and media – has declined broadly, a phenomenon not reported since Edelman began tracking trust among this segment in 2012.”
Given this, there’s a greater need than ever for brands to build community around their business, to establish connection with their audience and utilize that to foster better relationships.
This is the focus of a new infographic from LinkedIn, which outlines how brands can use ‘The five Cs’ – Content, Communicate, Community, Constant and Context – to establish better connection with their audience and maintain more effective business relationships.
Video is the key content trend of the moment – if you’re not creating video content for your business, you need to be considering why, and whether it may be a viable option moving forward, as all the major social platforms become more video focused.
If you need a bit more convincing before taking the plunge into video, Red Website Design have provided this infographic which outlines a range of digital video stats and figures, further underlining the rising importance of video content.
The trends are fairly clear – look below for further context.
TV ad spending will be lower than anticipated this year, according to eMarketer, because people are cord-cutting at a faster clip than previously expected.
According to the market-research company, TV ad spending in 2017 will expand just 0.5% to $71.65 billion, down from the $72.72 billion predicted in its first-quarter forecast for 2017. Further, it said, TV’s share of total media ad spending in the US will drop to 34.9% and is expected to fall below 30% by 2021.
“eMarketer expected a slowdown this year in TV ad sales, after 2016 benefited from both the Olympics and US presidential election,” said Monica Peart, eMarketer’s senior forecasting director. “However, traditional TV advertising is slowing even more than expected, as viewers switch their time and attention to the growing list of live streaming and over-the-top [OTT] platforms.”
Cord-cutters, or consumers who are opting for getting their TV via the internet rather than traditional pay TV services, are a major factor behind tempered TV ad spending. As the phenomenon gains momentum, traditional pay TV operators like Dish Network are developing their own streaming platforms such as Sling TV, networks such as HBO and ESPN are launching or planning their own standalone digital subscription services, and digital players like Hulu and YouTube are delivering live TV channels over the web at lower prices.
In fact, cord-cutting has become so prevalent that even telecommunication companies like AT&T and T-Mobile have jumped in on the action in recent weeks, offering customers bundle deals with access to streaming services like Netflix and HBO.
eMarketer has also increased its estimates for the growth in cord-cutters substantially for 2017 through 2021, saying that by 2021 the number of cord-cutters will nearly equal the number of people who have never had traditional pay TV, or “cord-nevers.”
The company forecasts that there will be 22.2 million cord-cutters over the age of 18 this year, more than the 15.4 million the company had previously predicted. This figure is up 33.2% over 2016. The number of US adult cord-nevers is expected to grow 5.8% this year to 34.4 million.
“Younger audiences continue to switch to either exclusively watching OTT video or watching them in combination with free TV options,” said Chris Bendtsen, the senior forecasting analyst at eMarketer. “Last year, even the Olympics and presidential elections could not prevent younger audiences from abandoning pay TV.”
While eMarketer predicts that 196.3 million US adults will still watch traditional pay TV, including cable, satellite, or telco, this year, that number would be down 2.4% from 2016. By 2021, the company thinks, that total will have fallen nearly 10% compared with 2016.
US adults who watch TV are spending less time in front of the screen as well. The average time spent watching TV among US adults this year will drop 3.1% to three hours, 58 minutes a day this year, according to eMarketer, the first time it has dropped below four hours.
In contrast, digital video consumption continues to rise. US adults will consume one hour, 17 minutes of digital video this year, the company said, up 9.3% over 2016.
Consumers are sick of hard-sell email messages that are not informative enough and irrelevant, but they’d still rather get email offers from brands compared to direct mail, mobile apps or social media. Those findings arrived today from Adobe research—called the Adobe Consumer Email Survey—that surveyed 1,007 white-collar workers.
Additionally, half of consumers feel like marketers send too frequently.
Meanwhile, here are several other data points from Adobe that marketers ought to find interesting.
There have been many reports on the different media consumption habits of each generation, and how you need to take that into account when planning on how you’re going to reach your audience, but there’s fewer on how, exactly, each generation is different.
One of the most difficult elements of this is that the Milennial generation, the one that every brand’s so keen to reach, is huge. Millennials (those born between 1981 and 2004) are now the largest generation in America, covering a wide spectrum of varying people – too wide, by most accounts, to actually be used as a demographic divider.
In practical terms, it makes more sense to separate this group into Gen Y (1981-1999) and Gen Z (After 2000), which is more likely to be indicative of habitual behavior – which is what Hand Made Writings have done with this new infographic, examining the key content habits and behaviors of the different generations online, based on various research reports and studies.
And while there are still some wide generalizations implied by the data – and the only true way to know your audience habits and preferences is to study your own audience analytics – the insights presented do provide some important considerations worthy of factoring into your plans and testing.