Starcom Media Futures Report: 90% Of Aussie Brands Have Adopted Advanced CX Practice

Starcom Media Futures Report: 90% Of Aussie Brands Have Adopted Advanced CX Practice
SHARE
THIS



This year’s Starcom Media Futures report has found Australian businesses had reached 90 per cent adoption of advanced CX practice – versus the 2017 figure of 55 per cent.

However the ‘expectation gap’ between companies and consumers has widened, with marketers rating themselves more than twice as high (106 per cent ) as consumers in delivering great customer experiences (CX).

The 2018 Starcom Media Futures report was released today and is reportedly the only report of its kind that uses a combination of consumer and industry research with marketers and media owners.

Screen Shot 2018-03-28 at 8.55.32 am

‘The Power of Positivity’ was identified as the single biggest factor influencing consumer behaviour and CX in the report. The biggest influence on positive experiences is ‘personal relevance’ with 81 per cent of very positive experiences being very personally relevant.

People who had a ‘very positive’ experience are 10 times more likely to choose a brand than those who had a ‘fairly positive’ experience.

The report found that real life experiences with brands are 2.4 times more likely to be very positive. Just 32 per cent of experiences were as a result of paid media, meaning that marketers and media need to rethink the role of all media across paid, owned, earned and shared to created powerful connected experiences.

Screen Shot 2018-03-28 at 8.56.21 am

Media Futures has identified “return on experience” (ROE), as an additional measure that works in tandem with return on investment (ROI). ROE, which combines business and human outcomes, is the most valuable measurement for brand choice.

“We can now quantify the value of real life connected experiences through ROE. Connected end-to- end experiences through paid, owned, earned and shared are 1.5 x more likely to be very positive. The underlying cause of the expectation gap is in missing the fundamental drivers of human behaviour – the power of positive customer experiences,” Starcom Australia CEO Toby Barbour said.

“We have evolved our approach to Media Futures, focusing primarily on understanding human motivation, and applying our insights to close the gap between what people want, and what brands need to drive long term growth.

“Our focus for client investment will be working to close the expectation gap by satisfying the tension between what people want and what brands need to create connected experiences that drive human and business outcomes. The ROE framework will be a key indicator of success,” he said.

The 25-year old Media Futures study has changed its methodology due to the rapid rise in the scope and breadth of media available to marketers over the last decade. The study uses “real time experience tracking” to analyse what experiences impact customer behaviour – not just what people did, but also how it made them feel towards brands and what changed as a result.

Please login with linkedin to comment

AANA Starcom Toby Barbour

Latest News

Women In Media Profile: Danni Wright
  • Media

Women In Media Profile: Danni Wright

We'd be headlining Danni Wright's Women in Media profile the "Wright stuff" if it wasn't utterly predictable and naff.

by B&T Magazine

B&T Magazine
Industry Generates A Record $10.5m For Social Impact
  • Media

Industry Generates A Record $10.5m For Social Impact

UnLtd, the media, marketing and creative industry’s social purpose organisation has announced a total industry contribution of $10.5m to social impact in FY18. The total value of funds, services, inventory and time donated by the media, marketing and creative industry increased by 21per cent compared to the previous financial year due to a growth in […]

Posterscope Promotes Two
  • Media

Posterscope Promotes Two

Posterscope, Dentsu Aegis Network’s specialist out-of-home agency, has promoted Ryan Hedditch to the newly created position of national head of strategy and Samantha Summers to Sydney Group Business Director. In his new role, Hedditch is charged with driving the continual improvement and transformation of the Posterscope offering to clients and partners. Summers’ promotion will see her lead […]

Outbrain Accelerates Growth With APAC Promotions
  • Media

Outbrain Accelerates Growth With APAC Promotions

Native discovery platformOutbrain has announced several movements in its regional leadership team, with plans to make more new hires. This comes on the heels of two senior appointments it made in February, after closing a record year in the region with expansion into new markets. Yoav Tourel has been promoted to head of sales for […]

Clems Syd & Extra GUM Unveil YouTube Digital Stage
  • Media

Clems Syd & Extra GUM Unveil YouTube Digital Stage

YouTube EXTRA Gum has launched EXTRA Support Acts, a program created to support Australia’s up and coming musicians by transforming pre-roll ads on YouTube into a digital support stage. It has been created in partnership with Clemenger BBDO Sydney as creative lead, Universal Music Australia and BRING for talent and music strategy and content, MediaCom and YouTube. The […]

OMD Australia Tops 2018 RECMA Rankings
  • Media

OMD Australia Tops 2018 RECMA Rankings

OMD Australia has taken the top spot for Australia’s Number 1 media agency in size, according to RECMA’s 2018 ‘Overall Activity Volume Rankings’ report released last week. Additionally, the company was named first in profile classification with a dominant profile for the 3rd consecutive year, along with vitality ranking and structure ranking. Furthermore, OMD Australia was also named […]

Red Agency Bolsters Sydney Team
  • Media

Red Agency Bolsters Sydney Team

Judging by the image, it seems Red Agency may have had no staff whatsoever prior to this hiring spree.

Nine Appoints Editor For 9Honey
  • Media

Nine Appoints Editor For 9Honey

B&T's editor coincidentally spilled honey on his shirt while typing this. And by typing, we mean copy and pasting.

Y&R Sydney Scores Best&Less   
  • Advertising
  • Media

Y&R Sydney Scores Best&Less  

Y&R wins Best&Less amid rumours the clothing shop its changing name to 'Somewhat OK&Reasonably cheap'.

Women In Media Profile: Judy Sahay
  • Media

Women In Media Profile: Judy Sahay

B&T's Women in Media profiles are like a wave washing over you. Even more so if an actual wave washes over you.

by B&T Magazine

B&T Magazine
How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)
  • Marketing
  • Opinion

How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)

In this opinion piece, SalesPreso co-founder and CMO Joel Thomson (pictured below) explains how B2B companies can use their data more effectively and deliver a personalised customer experience that matches their B2C counterparts. From the Cambridge Analytica scandal to the EU’s recent GDPR legislation, this year has prompted individuals all over the world to consider […]

Opinion

by B&T Magazine

B&T Magazine
M&C Saatchi Launches THIS Film Studio
  • Advertising
  • Marketing
  • Media

M&C Saatchi Launches THIS Film Studio

Not one to rest on its laurels, M&C Saatchi unveils new production studio it hasn't called 'Not One To Rest On Laurels'.

Creative Agency Launches Project Management Tool ‘Hassl’
  • Advertising
  • Technology

Creative Agency Launches Project Management Tool ‘Hassl’

Yesterday at TedX Melbourne the team behind award-winning, Melbourne-based agency Your Creative launched their new tech venture Hassl, the project management platform taking on Trello and the likes. With the belief there was a better design solution to project management, the platform has been developed over the last two years in collaboration with their clients. […]

ABC Axes Tom Ballard’s Tonightly
  • Media

ABC Axes Tom Ballard’s Tonightly

It's one of the ABC's edgier, controversial shows, but Tom Ballard's proven too edgy and controversial for ABC chiefs.

Taboola Strengthens APAC Programmatic Offering With New Partnership
  • Advertising
  • Media

Taboola Strengthens APAC Programmatic Offering With New Partnership

Global discovery platform Taboola has announced a strategic partnership with Wider Planet, Korea’s largest demand-side and data management platform. The partnership builds on Taboola’s programmatic efforts in Asia-Pacific, and will bring together Korea’s largest demand platform for agencies and brands to provide access to Taboola’s global audience through premium publisher placements. The partnership means advertisers […]

The Haus Picks Up Two New Clients
  • Marketing

The Haus Picks Up Two New Clients

The Haus announces two new client wins. Admittedly, not as good as winning three, but far better than losing four.