A major international study commissioned by the American Marketing Association (AMA) New York indicates a serious disconnect between consumers and marketers may lead to some inertia in technology and digital marketing expenditures in the U.S.
The study, which conducted in-depth interviews with consumers and marketers in each of the world’s two largest markets -- the U.S. and China -- found that U.S. consumers have already peaked in their use of dominant digital media formats, especially social and online gaming, but U.S. marketers are continuing to increase their investments in both (+68% and +25%, respectively).
The study also found American consumers are less than keen on the benefits of nine key ad-tech “innovations” -- things like personalized ads, micro-influencers, employee influencers, augmented reality, and IoT-connected home devices -- than U.S. marketing spending would justify.
None of these emerging marketing technologies are favored by a majority of Americans, according to Craig Charney, president of Charney Research, which conducted the study, scheduled to be presented in detail later today.
Among other things, the study found 52% of American consumers have no plans to purchase a smart speaker and 42% have an unfavorable view of the technology’s potential.
Perhaps most troubling for marketers -- both in the U.S. and China -- is that a significant percentage of consumers in both nations are wary of the increasing use of their personal data to power advanced digital marketing and emerging technologies.
“For a future of online marketing to win consumer trust, marketers need to listen and respond to consumer concerns about it – and the time to start is now,” the study’s executive summary concludes, recommending that winning strategies in the future will “Offer consumers control and transparency regarding the use of their data, as well as incentives.”