InMobi, a provider of content and marketing tech that help businesses fuel growth, released the findings from a Forrester Consulting study “The Future of Mobile Advertising in a Privacy First World.” The study found that two thirds of ANZ businesses are in the early stage of consumer data privacy practice management of maturity, trying to understand the impact of consumer data privacy developments on their current digital/mobile advertising strategy.
What were the findings of InMobi’s study?
The study found that 42% of brands and media agencies are struggling to build a culture that values privacy and enforce regulatory compliance, while working with insufficient resources, and that 40% lack executive support for a data stewardship and governance program.
Additionally 40% of application publishers operating in multiple countries were found to be struggling to navigate varied privacy regulatory frameworks. Lack of reliable external partners who can help them implement privacy practices, has exacerbated their situation.
With the study reporting that 62% of marketers are now working with fewer reachable customers and 56% are less able to measure the impact of their digital media spends, it also found that 81% of businesses have onboarded specialists for first-party data collection.
Additionally, 60% of respondents indicated they will look to onboard more specialists to manage several walled gardens, while 48% want to do so for identity resolution.
What were the executive’s thoughts on the research?
Richard O’Sullivan, VP and GM, ANZ, at InMobi commented: “It would appear that despite best efforts, the advertising ecosystem lacks readiness for data and identity deprecation and there’s a long way to go before businesses manage to optimise for profitability.”
“The challenges they face are bound to persist unless tech partners implement privacy by design measures in their offerings, to create positive net effects for firms and consumers.”