News

Advertisers hooked on stereotypes ‘overlooking the core values of big data’, says report

Advertisers in Hong Kong are too caught up in stereotypes and as a result are missing out on attracting new customers and driving additional sales, a new report has claimed.

report

Data analytics firm Vpon said marketers have preconceived ideas of who they should be targeting and make poor use of data that could unlock new business.

The report dissected 16 consumer segments, with several showing interest in categories which often do not consider them as prospective customers.

One sector singled out by Vpon was the automotive industry which, the report said, spends the majority of its advertising dollars on ‘automotive enthusiasts’ and ‘finance gurus’.

But analysis of click through rates showed a segment identified as ‘Modern Mama’ showed a greater level of interest in car ads than the heavily-targeted ‘finance gurus’.

Elsewhere, ‘gadget geeks’ showed a greater propensity to respond to apparel and accessory ads than any other audience. “It breaks the stereotype that gadget geeks fancy only technology-related info,” the report stated.

Vpon Big data Group Hong Kong general manager Arhur Chan said:  “It is said the approach of audience buying helps brands reach the target audience more precisely than ever, and ensures every single marketing penny is worth spending.

“However, many advertisers have overlooked the core values of big data – uncovering new business opportunities.”

ADVERTISEMENT

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella Asia newsletter now.

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing