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In recent news, studies find that the majority of Aussies are nervous about brands misusing their data and why employees are ready for the metaverse but companies are holding back. We also explore, how data and digital capabilities are transforming live event experiences, digital advertising’s large contribution to Australia’s GDP and Google’s recent launch of an AR-powered shopping tool.
Study finds majority of Aussies nervous about brands misusing their data
A new study by strategic insights consultancy Nature has revealed widespread concern and loss of confidence in companies handling personal data, with two in three Australians not confident in the ability of large companies to keep their personal data safe.
The study follows the recent cyber-attacks on Optus and Medibank, with 63 per cent of Australians who are aware of the attacks saying they are re-thinking which companies absolutely need their data, and which can do without it.
How data and digital are transforming the live events opportunity for brands
Two-and-a-half years ago, the entire live events industry, from touring concerts to major conferences, was forced into a digital transformation unlike anything experienced by any industry before.
But as Australians once again leave their couches and home offices in search of mass human connections, the question now is whether 2020’s digital pivot will have lasting consequences in terms of what audiences want and how brands can engage with them. Even as concerns of a fourth Covid wave are brewing, Australians are showing eager willingness to engage in large-scale shared experiences.
According to the latest Audience Outlook Monitor from the Australia Council for the Arts in October, 71% of Australians were ready to attend live events, up from 65% in August. However, 44% were still attending performing arts events less than they did pre-pandemic.
Employees are ready for the metaverse but companies are holding back
Companies are not quite ready to get employees working in the metaverse.
A study by recruiters Aquent, Getting Versed in the Metaverse, based on a survey of 3,484 from Australia and the US, shows that developing employee experiences in the metaverse isn’t a priority.
More than 33% of VPs and directors agreed that organisations are ill-prepared and slow to move. What is holding them back?
PwC and IAB Australia: Digital advertising contributes $94bn to Australia’s GDP
Australia’s digital advertising industry plays a significant role in the economy and society, with a new report released today finding the industry is responsible for contributing a total economic value of $94 billion to GDP and supporting over 450,000 jobs.
The report prepared by PwC and commissioned by IAB Australia confirmed the industry’s total contribution is the equivalent of over four per cent of GDP and over 3% of total employment in Australia in 2021-22. The report also found that the social value of the consumer benefits generated by the ad-supported digital ecosystem was $55.5bn in 2021.
Google launches an AR-powered shopping tool
Ad revenue for metropolitan commercial radio stations grew by 7% to $62.91 million in the month of
As the AR technology starts dominating the meta space, Google has launched a new AR-powered shopping tool that will allow buyers to see the shoes they’re looking at from a 360-degree view.
This is a similar tool that shoppers use for home goods, allowing users to fit a couch in their space or objects to see the dimensions of the product.
Instead, this tool will allow buyers to spin, zoom, see the shoes around them and decide if the style, colour, laces, platform, heels of the shoe fit the buyer’s style. One thing that buyers cannot do, is try the shoes on.