While I was attending LiveRamp’s RampUp 2017 Summit last week, I attended a session on the “Skeptical Consumer,” which included a reference to recent research: “The Rise of Mobile Prodigies: Millennials, Gen Z and the Future of Mobile Marketing” (Verve, 2016). A good part of this session — which included speakers from the Digital Advertising Alliance, Venable, TRUSTe and Gap, as well as Verve — focused on how brands can overcome consumer skepticism over data collection with regard to digital/mobile advertising. (There’s much hope here.) The Verve white paper provided some useful insights on engaging younger cohorts on smartphones (Millennials now have buying power of between $200 and $600 billion and Gen Z, currently $44 billion, according to the report).
There’s a bevy of insights in the research, but I was particularly intrigued with one finding: What Makes a More “Perfect” Mobile Ad, as reported by these Mobile-First (mobile-only) users:
Too often, mobile is not driving most marketers’ brand engagement strategies — but not for long. These “Mobile Prodigies” are here and now, and they’re spending up to 90 percent of their smartphone time in the app environment — perhaps the majority of these apps are financed by advertising.
More than 55 percent of these consumers are using ad-blocking software and 82 percent delete apps that they perceive to fail to deliver value for the data collected … but oh, what relevance can do! Six in 10 would download more free apps, connect apps to their Facebook accounts, share location data and even share fitness and sleep data in exchange for a personalized experience. One in three say they reverse opt-out permissions when personalized ads, based on context and behavior, are offered.
Verve writes, “If we serve Mobile Prodigies best-in-class mobile experiences, they are willing to share their personal information — their permission comes down to relevance and reward.”
That sentiment actually mirrors that of Generation X and Baby Boomers. However, how that value is demonstrated in mobile requires a whole new level of branded experiences for Millennials and Gen Z, with a demand to use data in highly relevant and creative ways that still largely remains elusive on smartphones. Perhaps that’s why 2,500 were in San Francisco to examine better ways to deploy data in service to consumers, and 108,000 were in Barcelona a few days before — in part, in quest for the perfect mobile ad.