1. The impact of data breaches on corporate reputation
Data breaches have a bigger impact on corporate reputation than PR scandals or environmental incidents, according to 59% of top marketers surveyed by Centrify.
Data breaches can also lead to a 5% hit to share price, a customer churn rate of 7% and 65% of customers losing trust in the brand.
2. Augmented reality is going mainstream
Snapchat and Facebook are fuelling growth in the use of augmented reality among US consumers. According to eMarketer, 54.4 million Americans will have tried the technology by 2019, up from 30.7 million in 2016.
Virtual reality has been slower to catch on, with just 10.2 million Americans trying it out last year. That growth will accelerate, however, with 49.2 million US consumers set to have tried it out in 2019.
3. Consumers are abandoning brands without a social purpose
Some 40% of consumers have either abandoned or never tried a brand because of its values or behaviours, says a report by MediaCom. And even if brands do claim to have a social purpose, consumers often don’t trust them. Some 65% think companies overstate their environmental credentials, while 45% are sceptical about the causes brands support.
4. Poor customer service is turning consumers away
Poor customer service is the biggest reason consumers are put off a brand, with 73% citing it as the main cause, according to Salesforce. A third of consumers say an inconsistent experience across mobile, online and in-store puts them off purchasing. A further third say irrelevant offers turn them off.
5. How consumers use apps is changing
A study by Verto Analytics found that social media, communications and entertainment apps are hoovering up all the time people spend with apps. Social media and communications account for 44%, ahead of entertainment on 21% and games on 13%. That leaves just 22% of people’s time for all other apps to get a look in.