Uncovering Truth: Key Data, Marketing Investments, Essential Skills - 5 Stats for a Productive Week

Majority of consumers will unsubscribe from brands that overdo comms

The vast majority of consumers (81%) have mentioned that they tend to unsubscribe from brands that constantly send them marketing communications.

In the past three months, about one-third (32%) of consumers have unsubscribed from three to five brands. Additionally, 22% have decided to unsubscribe from six to 10 brands, while 12% have gone as far as cutting ties with more than 10 brands.

Email is often seen as the most annoying way brands communicate, with 35% of consumers finding it the most bothersome. Following closely behind, 26% of people find text messages to be the most intrusive, while 14% single out mobile and web push notifications, as well as mobile/web ads.

In general, half of individuals (50%) express a desire to receive fewer marketing messages from brands in the upcoming year. Surprisingly, 34% are open to receiving more messages.

Relevance plays a significant role in email marketing. According to Optimove, 54% of consumers feel that they need to be interested in the product at the time the email is sent. Additionally, 19% of consumers prefer personalized communication from brands that goes beyond just including their name.

Spread of misinformation is one of the biggest threats to society, consumers say

The rise of misinformation spreading on social media is a major concern for 81% of consumers, making it one of the biggest threats to society.

Additionally, 76% of consumers find it difficult to verify the authenticity of digital content like videos and images.

One in three people (29%) have reduced their use of social media platforms due to the high level of misinformation being circulated.

Concern about the impact of misinformation on upcoming elections is especially high among Brits, with 78% expressing fear about this issue.

Source: Adobe

Soft skills trump functional marketing expertise, study finds

Soft skills around leadership and communication are more important than functional expertise to succeed in marketing, according to a study by Deloitte.

Leadership is seen as the most valuable skill for CMOs and senior marketing leaders, with communication, strategic thinking, interpersonal skills, and problem solving following closely behind.

In a survey of 38 UK CMOs and 34 senior marketing leaders/aspiring CMOs, functional marketing knowledge was ranked as the sixth most useful skill. Martech expertise was considered the least useful skill, with storytelling and data analysis and analytics following closely behind.

A majority of CMOs and senior marketing leaders (64% and 58% respectively) shared that their biggest challenge in reaching their current role was making the right connections and building networks.

Following closely behind, balancing work with other commitments was a struggle for 57% of CMOs and 50% of senior leaders. Additionally, 48% of CMOs and 43% of senior leaders expressed a lack of opportunities to develop their skills and gain experience.

More than one-third of the CMOs surveyed (35%) shared that their biggest challenge has been not having a formal marketing qualification. In comparison, only 12% of senior leaders faced this issue. The research conducted by Deloitte also revealed that 46% of CMO respondents do not possess a formal marketing qualification, while only 35% of their junior colleagues are in the same situation.

Main media budgets down as brands ponder economic recovery

Main media advertising budgets have decreased for the first time in three quarters. However, overall marketing budgets have increased as the UK economy improves.

According to the latest quarterly IPA Bellwether report, there has been a -0.7% decrease in main media budgets, which cover video, audio, published brands, and out-of-home (OOH). This is a decline from the 1.9% growth seen in the previous quarter.

Only 4.5% of companies saw a growth in their main media marketing budgets, while 15.1% experienced a decrease.

On the other hand, nearly a quarter (24.4%) of businesses increased their overall marketing budgets. This suggests that the focus is shifting from traditional media to sales promotions, events, and direct marketing.

Sales promotions budgets increased for the second quarter in a row, showing a growth of 4.9% compared to 1.4% in January. Marketers are optimistic about continued growth in this area for the upcoming year, with a net balance of 6% predicting an increase.

Recent business surveys have shown positive trends, suggesting that the UK recession will be brief. Growth is anticipated to be confirmed by the first quarter GDP data.

Principal economist Joe Hayes from S&P Global Market Intelligence mentions signs of recovery popping up in the UK economy, leading to another increase in marketing budget growth. The recent inflation data, dropping to 3.2% in March - the lowest in 30 months, supports the optimistic economic forecast.

Source: IPA/S&P Global Market Intelligence

Most marketers support the EU’s AI Act

Nearly 72% of UK marketers are in favor of the new AI Act by the European Union, recently approved. Most of them, around 79%, think that this new regulation will promote ethical use of AI, benefiting both brands and customers.

Many people have criticized the act for stifling AI-powered innovation, but a majority of marketers (84%) do not believe it will have a negative impact. In fact, a significant number (71%) think that the introduction of the act will actually help to increase consumers' trust in brands. Additionally, 69% of marketers believe it will improve the reputation of brands.

On another note, 71% of marketers suggest that the new regulation will enhance customer loyalty for brands that utilize AI in their marketing strategies.

Some marketers do have concerns, though, with just over a third (38%) worried that the potential punishments for non-compliance could be too harsh.

Source: SAP Emarsys

Editor's P/S:

The article highlights various trends and challenges in the marketing industry. It emphasizes the importance of relevancy and personalization in email marketing, with consumers becoming increasingly selective about the brands they engage with. The spread of misinformation on social media is a major concern, with consumers expressing skepticism about the authenticity of digital content.

Another key finding is the growing significance of soft skills, such as leadership and communication, in marketing success. Functional marketing expertise, while still valuable, is no longer the primary determinant of career advancement. Brands are also adjusting their media spending strategies, with main media budgets decreasing while overall marketing budgets increase. The EU's new AI Act is generally supported by marketers, who believe it will promote ethical use of AI and enhance consumer trust.