Criteo (NASDAQ: CRTO) announced new findings from World Business Research (WBR). With four in 10 eCommerce transactions in APAC now involving cross-device behaviour – consumers using multiple devices throughout the process of product research to purchase. Criteo commissioned a survey of more than 400 senior retail marketing executives (managers and chief marketing officers) across the region to identify priorities, challenges and critical success factors when strategising to engage online shoppers.
The research revealed that marketers are prioritising “the delivery of personalised ads based on customer data” and “improving customer lifetime value and loyalty.” To achieve these goals, they are looking to invest more in mobile (both web and in-app) and cross-device advertising. However, more than half of survey respondents also admitted that there is a lack of internal knowledge and skills to leverage new technology and execute multichannel campaigns at scale. “Difficulty maintaining customer data quality across systems” and “difficulty dealing with the latest privacy standards and best practices” were cited as main challenges.
Dealing with the Deluge of Data
Retailers in APAC have accumulated huge amounts of market and consumer data. However, more than half (55 per cent) are finding it difficult to segment unstructured data to create actionable insights, and have so far failed to deliver personalised messages. This stems from having to manage multiple, incompatible data sources and the use of legacy systems. The survey results also indicate that a significant number of retailers are struggling to fill a skills gap in data analytics (55 per cent) and lack internal coordination between teams handling marketing, customer intelligence and user experience (50 per cent).
Addressing Privacy Concerns and Intrusiveness
Six in 10 retailers across the region said that they were unsure as to whether their mobile and cross-device advertising programmes were compliant with the latest privacy standards. Practices that do not comply with privacy standards include storing or using data that can be traced back to personally identify an individual (such as first name, last name, phone number, address, etc.). Consumers might also feel intruded upon if they are served ads based on someone else’s preferences or browsing behaviour. This could be due to retailers using outdated predictive or probabilistic matching platforms, which conclude that two devices are being used by the same user when they are in fact being used by separate individuals.
A New View on Display Advertising
Survey respondents stated that display ads currently account for the largest share of advertising budgets (28 per cent) and revenues (29 per cent) across APAC. It is also the only area of budget investment where the revenue generated exceeds the budget spent, albeit by only one per cent. Retailers who are making the most from display advertising are no longer spending on the generic and impersonal ads of the past. Instead, they are using advanced retargeting technology to deliver ads that are personalised and relevant to each online customer.
To access the full WBR 1H 2016 research findings and analysis, download the full report and accompanying infographic below
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Criteo delivers personalized performance marketing at an extensive scale. Measuring return on post-click sales, Criteo makes ROI transparent and easy to measure. Criteo has over 2,000 employees in 31 offices across the Americas, EMEA and Asia-Pacific, serving 12,000 advertisers worldwide and with direct relationships with 17,000 publishers.