NEWS6 October 2014

Companies lacking strategies for connected consumers

UK — While the majority of companies ( 84%) have seen a rise in the number of connected consumers less than a third ( 29%) have a strategy in place to target them, according to research commissioned by the Institute for Practitioners in Advertising and conducted by the Economist Intelligence Unit.

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The research — part of the IPA’s Know the Value of Media project — found that there was a fear among business that interacting with connected consumers would result in negative comments about them online and on social media.

It was the biggest worry for 40% of respondents, rising to 55% among those about to deploy a mobile strategy.

Among the other findings, companies identified providing high quality products and services as important for attracting and retaining connected consumers. But just 35% believed that stronger analysis of customer data could help retain customers.

When it comes to mobile strategies 29% have had one for more than 12 months and 34% have deployed one in the past 12 months or are in the process of doing so. Larger companies (with annual revenues in excess of £5bn) are ahead of the curve: 45% have had a mobile strategy for over a year. A fifth of companies have a mobile-first strategy.

The Economist Intelligence Unit research consisted of an online survey of 176 UK business executives in September 2014.