Following the success of the inaugural Customer Acquisition Barometer (CAB) in 2014, we are delighted to announce the DMA are launching the second round in exclusive partnership with us. As one of the UK’s leading customer acquisition specialists, The Media Octopus will aid the survey in expanding from B2C to include B2B industries.
What is CAB all about?
Essentially the CAB is a benchmarking study of both marketers and consumers that explores the processes and practices involved in the customer acquisition process.
The aim is to provide marketers from both B2B and B2C industries with a detailed insight into trends and acquisition channels (both on and offline), budget allocation, CPA and consumer’s expectations about engagement.
Not only will the project benchmark these metrics, but also monitor progress against last year’s results, checking against incoming consumer data protection regulation. “As digital technology evolves, it has never been more important to monitor how and why consumers opt in”, executive director of the DMA, Chris Combemale points out.
What was highlighted last year?
With businesses placing significant importance on acquiring new customers, it is therefore crucial for consumer trends to be understood; not simply pre-empted. Considering that 77% of marketers use social media but only 9% of consumers say they are influenced by this channel, it is key findings like this that need to be addressed.
While consumers are happy to be acquired, the results of this years’ CAB research will provide senior marketers with the intelligence on how best to approach them in the rapidly changing, but fast approaching future. As our head of strategy, Andrew Colwell comments, “The 2015 CAB will prove an essential tool for marketers.”
A snapshot of key findings from last year:
- Brand website and email are the preferred ways to connect with brands.
- Rewards can encourage consumer opt-ins.
- The majority of consumers shared data last year.
- Fewer consumers read privacy policies.
What does the project entail?
An online quantitative survey of more than 1,500 consumer respondents answering 15 questions forms the one part, while the marketer research will be split between 100 telephone depth interviews and two senior level focus groups. Last year’s brands included the likes of British Airways, Aviva, Save the Children and IBM.
From these findings, the deliverables are set to include:
- An academic white paper
- Invitation-only launch event hosted in London
At The Media Octopus we are certainly thrilled to be part of such a significant initiative that will help to drive and inform the way consumers want to be marketed to and engaged with. From a brand and marketers’ perspective, we can sure these findings will paint a truer reflection of the constantly changing landscape and resonate more meaningfully with the very people we want to acquire.
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