Social media, AVoD growth, B2B connections: 5 interesting stats to start the week

Marketers plan to increase spend on social media

The majority of marketers (66%) are planning to increase spend on social media in the second half of the year, according to research from Mediaocean.

The survey of over 1,200 marketing industry professionals on the marketing trends that will impact the second half of the year, finds that social media, digital display/video, and connected TV (CTV) are the fastest-growing channels.

In H2, 64% of survey-takers are planning to increase spending on digital display/video and 55% on CTV. Meanwhile, 30%, 31%, and 37% of marketers are maintaining their investments in these channels, respectively.

When asked what the most critical consumer technology and media trends will be, 56% answered CTV. However, generative AI (gen AI) dropped from first place in H1 to second place in H2 with 55% deeming it one of the most critical consumer trends.

Data analysis and market research continue to be the most prevalent cases of gen AI, with 45% and 40% of use cases, while copywriting and image generation hold a 27% and 22% share, respectively.

Compared to Mediaocean’s last survey from November 2023, the number of respondents identifying first-party data as a critical capability is up 25%.

Source: Mediaocean

AVoD services grow 10% quarter-on-quarter

AVoD (ad-supported video on demand) services grew by 10% quarter-on-quarter, with FAST (free ad-supported TV) growing by 6%, according to Kantar.

The study, ‘Entertainment on Demand’, revealed a significant growth in the ad-supported streaming market. Ad-supported services now account for 47% of all new services adopted in Q2 2024. Consumer acceptance is also rising, with 49% of households willing to adopt ad-supported services to access cheaper content.

“It’s clear that ads provide streaming services with opportunities to diversify their revenue streams while catering to diverse audience preferences, with the tiered approach providing flexibility for consumers,” explains Andrew Skerratt, global insights director at Kantar.

However, he cautions the “impact” of the ads on the viewer experience isn’t necessarily a positive one.

Just 22% of people enjoy the ads they see on streaming services, Kantar reports, while less than a quarter find them relevant. According to the data, Discovery+ is one of the major streamers that has found the right balance to appeal to viewers, with Kantar reporting its ads are “notably more effective” than those on other platforms.

“Nearly one in three want more tailored ads, and with only 20% linking a streaming ad to a purchase of a new product or service, there’s plenty of potential for marketers to improve their return on investment,” adds Skerratt.

Source: Kantar

Business leaders connect with B2B brands 

Business leaders are two times more emotionally connected to B2B brands than FMCG brands, according to a report on B2B relationships.

The study, by McCann Truth Central in collaboration with the International Chamber of Commerce and Jus Connect, shows the biggest reasons for being more emotionally connected.

More than two-thrids (43%) of business leads say the biggest benefits of a successful business deal are connected to personal and emotional outcomes (such as pride, confidence, and social benefits like popularity), compared to only 21% who say the biggest payoff is the business benefit (e.g. the financial business outcomes or the functional benefits delivered).

The study, based on desk research with 1,701 new quantitative surveys with business leaders, also reveals that business leaders favour amicable approaches to building long-term business relationships and, when things go wrong, prefer similar win-win dispute resolutions over legal proceedings.

Elsewhere, a significant proportion of B2B advertising is focused on products, facts and figures, brought to half-life by generic smiling stock imagery, according to an audit of B2B advertising.

Source: McCann Truth Central

Gen Z to spend £1bn on food and drink in next six months

Gen Z is projected to spend £1bn on food and drink in the next six months as they choose value over convenience.

According to the latest Food and Drink Deep-dive Student Insight Report, which details findings from a survey of 8,000 UK students by Unidays, Gen Z students have the highest average monthly spend in four out of seven categories.

The report reveals that, on average, students intend to spend more than any other generation on meals out with friends, lunch, takeaways, and coffee breaks, and coming a close second to millennials for date night meals, dinner parties, and drinks with friends. They are also more likely to rank price as the primary driver.

Gen Z is habitual when it comes to food and drink. The vast majority say they typically shop in the same place for groceries (81%), hot drinks (69%), fast food (68%), and takeaways (63%).

“The unique combination of high spending and price sensitivity sets Gen Z apart from other generations,” said Unidays’ food, travel, and leisure category lead, Sarah Clifford.

“Whether it’s groceries, restaurants, fast food, or takeaways, they value lower prices over the ease of buying items in one place or making single transactions. Even those who rated convenience as higher said a student discount of 20% or more would be enough to sway them. It’s no surprise that loyalty schemes are used primarily for discounts and free items.”

Source: Unidays

Olympic ads average 3.2 stars on System1

Ads at the 2024 Olympics have averaged 3.2 stars, according to System1 data, with Dicks Sporting Goods in the US topping the charts with 5.7 stars.

System1 measures consumers’ emotional responses and assigns creative a score of 1.0 to 5.9 Stars based on long-term brand-building potential, with dynamic emotional stories and feelings of happiness driving the strongest results.

Dicks Sporting Goods campaign ‘Big Moments Every Day’ came out on top, followed by India’s Yes Bank with ‘Cheer for Team India at the Paris Olympics 2024’ with 4.9 stars and Australia’s Woolworths ‘Fresh Fuels the Best in All of Us’ with 4.8 Stars.

UK brands placing in the top 10 include Aldi with its campaign, ‘Has Kevin Met His Match?’ reaching 4.7 Stars and BBC’s ‘Paris 2024 Olympics Official Trailer’ with 4.4 Stars.

“In the race for effectiveness medals, the brands that inspire and wow will win the hearts of viewers and build mental availability to drive long-term growth,” says Jon Evans, chief customer officer at System1.

“Some advertisers are leveraging celebrity athletes while others are highlighting future hopefuls. Many are leaning into humour, a proven brand-building winner, and plenty are featuring distinctive brand assets like recurring characters, as well as rich storytelling to make their mark.”

Source: System1