Bynder’s Annual State of Branding Report Reveals the Trends, Challenges and Investments on the Minds of Marketing Decision-Makers in 2019
Amsterdam — January 28, 2019 — OnBrand, a leading publication that features insights and opinions on the latest in branding and marketing, today announced the release of the State of Branding Report 2019. The report, developed annually with Bynder, a global leader in digital asset management (DAM), aims to get inside the head of the modern marketer and reveal their biggest challenges for 2019, their priorities, and how they plan to stay on top of the latest trends within marketing and branding.
The data, representing 501 marketing and branding decision-makers at organizations based in the United States and the United Kingdom, shows that identifying the right technology to serve as an extension of a brand continues to be a top challenge for today’s brands. Similarly, while marketers still rely heavily on social media to reach their consumers, they are becoming increasingly wary of how continuous algorithm changes may be disrupting engagement opportunities with their audiences.
The top five key findings include:
“At a time when brands are struggling to identify what technology and channels are most effective at reaching audiences, it’s important to remember that creativity and story go a long way when it comes to differentiating your brand,” said Jennifer Harvey, VP of Branding and Communications at Bynder. “We are seeing more brands invest in branded visual content and owned channels like mobile apps, both of which present a compelling and creative opportunity to engage with consumers. Brands that are able to break through the noise and prioritize customer interactions will emerge as winners in a rapidly evolving arena.”
OnBrand Magazine is sponsored and developed by Bynder. The full report is now available for download here.
- Brands are more reliant on social media, but not without some hesitation: Respondents identified social media networks as the most fruitful channels for reaching audiences and influencing buyer behavior. However, 65% feel algorithm changes are the biggest threat to online brand engagement.
- Owning a strong customer experience is key in cutting through the digital noise : 29% of respondents felt “excellent customer service” was the most effective way to differentiate a brand and engage consumers—more so than the product itself (13%) or the quality of brand campaigns (15%).
- It’s time to ramp up investment in branded visual content: 67% of marketing decision-makers will invest more in creating branded visual content than they did in 2018. Why? To boost visibility and engagement with their target audiences (42%) and to stand out from the competition (22%).
- Brands are striving to personalize, but are struggling: Last year’s report revealed “personalization” was top-of-mind for branding and marketing decision-makers. It seems brands are still figuring out how to ensure personalized content targets the right audience, and if their company is equipped with the right tech to support personalization efforts. This year, when asked about the biggest challenges associated with personalization, 25.7% of respondents mentioned they’re struggling to get that personalized message to the right audience, 23% are caught on identifying the right technology to support personalized experiences, and 21.8% find it difficult to balance personalization and brand voice.
- Investing in tech: emerging vs. established: 94% of respondents feel it is “very” (63%) or “somewhat” (31%) important for their company to invest in new technologies in 2019, with customer experience and engagement proving to be the number one motivation. Experimental technologies such as AI (45.1%), virtual reality (36.3%) and voice assistants (40.3%) are on investment radars, but more established outlets—such as mobile apps (65.7%), progressive web apps (50.1%), and digital asset management software (46%)—still make up the largest slice of most marketing budgets.
Bynder is the fastest growing digital asset management (DAM) solution, helping marketing professionals at the world’s most successful organizations create, share and organize the full lifecycle of their digital content in the cloud.
Founded in 2013 by CEO Chris Hall, Bynder has grown to 550+ employees in seven offices around the globe, including locations in the Netherlands, USA, Spain, UK and UAE. Known for its best-in-class user experience and customer support, Bynder has since earned spots on the 2015 and 2017 Deloitte Technology Fast 50, with recognition by the Financial Times as the 20th fastest growing company in Europe in 2018.
Bynder is backed by Insight Venture Partners and in February 2018 announced the strategic acquisition of the California-based digital asset management solution, Webdam. Together, Bynder and Webdam help 4000+ customers like PUMA, Spotify, and innocent drinks manage their digital content. For more information, visit www.bynder.com.