Key Info: OTT, Marketing Directors Program and Consumer Engagement in 2021

30-second summary:

• Disney + will be the pioneer of the OTT market with 72.4 million US monthly viewers in 2020 as it marks its first year.
• Marketers will need to develop a strategy for ad spend and campaign design, as ad-free streaming will continue to rule in 2021.
• C-suite’s top five priorities will be: improving productivity, managing risk, transitioning to digital platforms / technologies, improving customer engagement, and retaining top talent.
• 81% of CMOs said they had a crucial impact on conversations about C-suite marketing strategy, proving they will take center stage in 2021 and years to come.
• CMOs will be heavily responsible for marketing strategy (81%) and conquering new markets (67%) with a fair share of voice, even in the product roadmap (39%).
• Consumers want to buy from brands that match their beliefs and are more aware. In fact, organizations that better align consumer values ​​are twice as likely to outperform their peers in revenue growth.
• A more human and value-oriented approach will be at the heart of customer confidence.
• Find out how communities and consumer engagement will help businesses drive growth and transformation.

–

This week, our key insights aim to give you a perspective on the marketing technology industry, OTT trends, C-suite priorities for 2021, how chief marketing officers will lead strategic market growth, and more. key themes around consumer engagement that will be crucial for organizations. succeed in a new and emerging world.

OTT will continue to win in 2021

OTT streaming services recorded the largest share of screen time when Netflix reached 200 million subscribers while Disney + racked up 60 million subscribers in record time, further fueling the streaming wars in 2021. According to Fox Business, these were the top five OTT services by number of subscribers:

1. Netflix
2. Disney +
3. Hulu
4. HBO Max
5. Amazon prime

According to Insider intelligence, Disney + will be the pioneer of the OTT market with 72.4 million monthly viewers in the United States in 2020 as it marks its first year. In fact, the estimate shows that one-fifth of the US population will use Disney + in 2021, which will reach one-fifth of the US population in 2024.

New entrants will need to tackle their audience as existing leaders will struggle to create waves in the market.

Viewers spend most of their time watching ad-free on the OTT platforms – Netflix, Amazon Prime Video, and Disney +, which account for half of total streaming time. The other half of the steam time is split between Apple TV +, Pluto TV, and Hulu. These statistics imply that marketers will need to develop a strategy for ad spend and campaign design, as ad-free streaming will continue to rule in 2021.

C-suite priorities for 2021

Improving productivity, managing risk, transitioning to digital platforms / technologies, improving customer engagement and retaining top talent will be C-suite’s five fast priorities. In terms of segmented priorities, the main focus areas of C-suite for 2021 ranked by Delloite Global Marketing Trends will be:

• Digital and technology (68%)
• Marketing and sales (61%)

Here is a list of C-suite priorities according to the report:

1. Engaged in new partnerships to better meet customer needs (45%)
2. Continue to transform the way the organization interacts with customers (39%)
3. Penetration of new geographic markets (38%)
4. Pivotal product offerings (37% intend to continue while 50% have shown their intention to retain some of their new offerings)
5. Enter new industries (35%)

CMOs take center stage in 2021

CMO will continue to have an increasing impact on the C-suite conversations. In 2020, 46% of CMOs reported having a critical impact on the suite. C-suite Marketing Strategy Conversations – now this statistic has practically doubled to 81%, proving that CMOs will take center stage in 2021 and in the years to come. The table shown below shows that CMOs will be strongly responsible for the marketing strategy (81%) and the conquest of new markets (67%) with a fair share of voice, even in the product roadmap (39%) .

The main priorities of marketing directors will be:

1. Cost optimization
2. Customer research to understand and improve cultural awareness that impacts brand affinity and purchasing behavior
3. Customer engagement
4. Agility
5. Focus on community development

Focus on the human aspect and a value-driven approach to gain consumer engagement and trust

Organizations will need to function as a human entity and empathetic leadership will serve as a first step. A more human and value-oriented approach will be at the heart of customer confidence. A common theme that is recurring at our Advisory Board meetings, virtual events, our Key ideas, and even the Gartner Leadership Vision for 2021: Director of Marketing is – Consciousness and alignment with consumer values.

Consumers want to buy from brands that match their beliefs and are more aware. In fact, organizations that better align consumer values ​​are twice as likely to outperform their peers in revenue growth.

One in four consumers are inclined to move away from brands that act in their own best interests, while they (70%) will appreciate and turn to brands that help them deepen their relationships with other people in times of need. adversity.

The Deloitte report also mentioned,

To truly ensure that an organization functions as a human entity, it must balance human needs with speed-to-market and efficiency goals, or risk a greater build-up of “experience debt”.

Marketing directors should be aware of their community

Humans are social animals and the “social” part is what will be at the heart of growth in 2021. In order to identify and rectify blind spots, CMOs, CEOs and brands as entities will need to be listening to their communities for a clear understanding. their feelings, perspectives, values, expectations and weaknesses. The most effective tools for focusing on communities and consumers will be:

1. Social listening
2. First party data from self-conducted surveys
3. Customer comments and reviews

The next segment looks at how Community Tangent has demonstrated added value in the form of customer engagement.

Consumer engagement information

37% of consumers were instrumental in more in-depth consumer engagement activities at least once a week, which covered key elements of the brand and product line by providing direct input to design. Then there were two other crucial and deep elements of engagement that consumers were most engaged in: giving advice online (35%) and creating content (35%).

32% of consumers have participated in online conversations about brands. Engagement with the brand was at its peak as 21% of consumers gave online advice on products or services, 15% provided direct design input and 14% developed original content for a brand .

The top four countries in terms of online brand engagement were:

1. Brazil (67%)
2. China (59%)
3. United Kingdom (51%)
4. United States (49%)

China has reached the deepest form of customer engagement as:

• One in four people make a direct contribution to conception
• One in five people have created original content for a brand

Consumer engagement: the most engaged groups

Deloitte Global Marketing Trends Participation Survey found that consumers in the 18-25 and 26-45 age groups are the most engaged. In fact, consumers aged 25 and over were the most passionate about engaging with brands online, as shown in the graph below.

The choice of ClickZ readers for the week

Our readers, week after week, continue to find key strategic insights into the martech industry landscape, digital marketing trends, and email marketing forecast for 2021.

1. Key insights: revenue attribution, digital titans, advertising and AI forecasts
2. Digital Marketing Predictions for 2021
3. Ongoing Trends and New Opportunities: 5 Predictions for Email Marketing

–