TV viewing, social commerce, brand building: 5 interesting stats to start your week

We arm you with all the stats you need to prepare for the coming week and help you understand the big industry trends.

Pandemic highlights importance of marketing

Almost three-quarters (73%) of marketers say marketing has increased in importance over the last year.

Over a quarter (34.5%) say building brand value is the most important objective, followed by acquiring (21.2%) and retaining (20.4%) customers.

Four-fifths (78.9%) of marketers have been focusing on upgrading consumer-facing digital interfaces during the pandemic, while over half (56.1%) moved towards creating improved end-to-end customer tracking.

Spend on marketing dropped by 17% over the past year, although digital spend saw a 9.6% increase. Marketers predict an overall rise of 10.6% to spend throughout 2021 with a focus on digital, which is tipped to rise 18.7%, while brand building will see a 15.1% boost.

Source: CMO Survey

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Lockdown boosts TV and video viewing

Broadcast television encompassing live, on-demand and playback services, grew by 5% in 2020, which equates to an additional 10 minutes of viewing per person every day. The average viewer watched 3 hours and 22 minutes of broadcast TV per day.

Subscription video-on-demand (SVOD) services such as Netflix and Disney+ saw average viewing times increase by 11 minutes per person per day, this equates to a 50% year-on-year surge. The average person watched 35.5 minutes of SVOD content a day.

Expanding the scope to include all forms of video, including social media, people spent 40 minutes per day watching this type of content. Cinemas saw a 75% drop off as establishments were forced to shutter under lockdown rules but are tipped to “bounce back” when measures are lifted.

Social media app TikTok accounted for 3.5% of all video viewed in 2020 in its first full year. YouTube increased its share from 12.5% to 13% year on year, while Facebook fell from 1.2% to 0.9%.

YouTube saw 5.6% of all video advertising, while TikTok took 1.4%. Broadcast television accounted for a massive 91%.

Source: Thinkbox

Consumers believe QR codes improve shopping safety

More than half (57%) of shoppers aged 18 to 34 believe QR codes could make the shopping experience safer when stores are allowed to reopen after lockdown. Although slightly lower, 40% of people aged over 55 agree the use of QR codes could help increase safety.

The use of QR codes has increased since the pandemic began, with 40% of consumers also saying using them would make them consider returning to bricks-and-mortar stores.

Given their rise in use, people have become more accustomed to scanning QR codes over the past year, with 57% feeling completely comfortable in terms of data security when scanning a code in store.

Source: Outform

Social commerce on the rise

Nearly a quarter (23%) of UK shoppers now use social media to discover new products.

When broken down by age, the figure jumps to 43% for those aged 18 to 24 and 47% for people aged between 25 and 34.

A third of people in the UK (33%) have purchased an item directly through a social platform.

The UK is ahead of other European countries when it comes to buying items directly through social media, with the figure standing at 28% in France and 30% in Germany.

Source: Bazaarvoice

Emotive brand names generate most revenue

Companies with emotive or inventive brand names drive the highest revenue, according to a study of the top 100 brands.

Companies with emotive brand names, such as Red Bull and Apple, have the highest average revenue at £70.32bn, followed by those with invented brand names using words not in the dictionary, such as Google, which have an average revenue of £57.65bn.

Brand names made up of acronyms, such as IBM, generate an average £48.59bn, while brands named after founders (e.g. Gucci) took £39.49bn.

Those classed as descriptive brands, like Coca-Cola, have an average revenue of £36.24bn, followed by geographical brands (£24.63bn) and compound brands (£19.66bn).

Source: The UK Domain