Majority of Singaporean consumers see online ad experience improving

Majority of the consumers in Singapore (62%) found that their online experience with advertisers has improved in the past year. Meanwhile, 30% reported no change and 8% said it has worsened, according to a new research by marketing software provider, dataxu, together with Sapio Research.According to the research, improving personalised advertising is a mutually beneficial experience. Consumers receive more valuable recommendations and suggestions based on products and services that will actually benefit them, and are relevant to them. In return, advertisers will receive an optimised ROI, stronger leads, and better relationships with their consumers.Results also show a growing awareness amongst consumers of how their data is used and its increasing value to advertisers, with 78% believing their data has become more valuable to advertisers over time. Additionally, 61% of consumers are happy to share their data in an anonymous way in order to see personalised ads and offers, whereas 65% would willingly share their data in exchange for free content.The research also found that consumers have become more welcoming of advertisers’ use of their data, which has given way to the rise of personalised advertising. Nevertheless, of the 60% of consumers who claim to have been targeted by personalised ads on TV, only 35% can recall what the ad was related to.On the TV front, the report revealed consumers’ evolving relationship with their TV sets as streaming services such as Netflix continue to grow exponentially. Taking up 31% of TV viewing time, paid subscription services are threatening to outstrip the competition of traditional TV, which stands just a little ahead at 36%. Millennials aged 18 to 24 lead the demographic for watching through these services, said the report.However, with connected TV giving access to content beyond traditional forms of TV through the internet, Dataxu said the opportunities traditional TV offers to advertisers are enhanced by the better targeting potential that connected TV has to offer. According to the research, Singapore media agencies and brands are investing in advanced TV, with connected TV showing the greatest amount of investment within the industry. Advanced TV is defined by any forms of TV beyond the traditional realms.According to media agencies and brands surveyed, 21% of TV investment in Singapore is spent on traditional linear TV, closely followed by investment in connected TV, at 19%. However, both agencies and brands are optimistic about the future of connected TV, predicting that connected TV buying will increase by an average of 31.9% over the next five years. Within this time frame, 90% of businesses expect their spend on advanced TV to increase over the next five years.Alvin Wong, general manager, Asia at dataxu, said: “More than ever, television lies at the heart of an important intersection between personalised advertising and media consumption. Whilst traditional TV still holds great importance, we can see a clear shift in which advertisers and agencies deepen their investment into connected TV, following suit with the growing millennial audiences on this medium.”For the research, a total of 1003 consumers and 106 businesses in Singapore were invited to complete the online survey, with 56 from media agencies and 50 from brands or advertisers. It seeks to present the current perceptions of media agencies, brands, and consumers around the current and future state of TV advertising.(Photo courtesy: 123RF)