UK brands failing to monetise digital media strategies

Market research by industry analyst, Redshift Research, on behalf of Oxygen8 Communications, has found that major UK brands are still failing to monetise their digital The research finds that whilst consumers are interested in accessing more services from organisations on their mobile phones, corporates and media companies are failing to make the most of digital opportunities. Two thirds of organisations recognise that consumers are less receptive to traditional advertising, 76 per cent of corporates feel that Internet advertising is more effective than both TV and print. This sentiment is echoed by media companies, where 83 per cent felt that SMS and email is more effective than the traditional channels. Only 13% of media companies and 23 per cent of corporates believe that traditional media is still more important than digital media.

Budget (40 per cent) and lack of skill and experience (28 per cent) are quoted as the main barriers to using digital media more frequently. Furthermore, whilst 60 per cent of companies think it would be useful to have one single CRM system/database combining traditional and digital media campaigns, 65 per cent collect and analyse campaign data in separate systems, thus rendering them unable to gain a full view into any cross media campaigns’ performance.

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