The results of a commissioned study on the future of mobile advertising in tackling data and identity deprecation were recently announced by InMobi, which happens to be a provider of content, commercialization, and advertising tools that support businesses in boosting productivity.
Notably, due to varied privacy policies, marketers experience substantial difficulties in navigating the fragile world of mobile marketing and complying with evolving legal frameworks. This study was undertaken to ascertain the level of preparation, uncover the main areas of concern and also determine the actions in progress to address such issues that exist in the Indian market. Directors, C-level executives, VPs, and senior managers from brands, media agencies, and application owners participated in the study as respondents.
As per the outcomes of the study, three out of five Indian companies are still working to determine and grasp how the new advancement in consumer data protection is going to affect their mobile marketing strategy. The study also finds out that, as per 85% of respondents in India, which includes the decision makers, boosting reach and conversions counts as one of the most pressing marketing needs. This also relates to privacy-related challenges, where 87% of the respondents regarded a single marketing barrier as being unable to capitalise on consumer and buyer data.
Rishi Bedi, InMobi’s Asia Pacific Managing Director, commented on the findings, saying that despite the growing progression when it comes to regulatory requirements, businesses have a long way to go before they can optimise for profitability. He further says that in order to succeed with new identification solutions and relevant targeting, the advertising sector must now look beyond the conventional techniques such as third-party cookies. The need of the hour is that advertisers must take a privacy-first stance, preemptively consider ways to protect consumer confidentiality, and work to instil a privacy-first culture around their businesses.
The inMobi report indicates that, in light of consumer data privacy policies, publishers are combating communication gaps within the organisation that lead to a lack of consistency around privacy regulatory requirements and a struggle to strengthen the data, while brands are having difficulties with a lack of stable and reliable ecosystem collaborators for accumulating the first party data. Brand Consultant, Abhimanyu Mishra from Brandfizz, opines that the absence of leadership support for a programme of data ownership and accountability is a problem that occurs routinely across businesses. Such a program, according to him, would establish the methods for accessing, storing, exchanging, processing, and using data for decision-making.
The report reveals that 78% of the people who were surveyed used situational advertising to deliver targeted messages to customers based on demography, geography, and app usage as businesses begin alternative targeting tactics. In India, around 80% of the companies are already collecting authorised third-party data, whereas 78% of the companies are creating first-party data as a backup data source.
