The Figaro Digital Digest: 4th May 2018

by Figaro Digital

Looking for some Bank Holiday reading? Well, you can stay abreast of all the latest digital marketing news from the comfort of your sofa with our round-up of the last week.

Cambridge Analytica Is Shutting Shop

It’s a business name that everyone has heard of, thanks to the Facebook data scandal that has dominated the news recently. However, this week it was announced that the analytics company is now to close.

In a formal statement, it was revealed an administrator had been appointed and that the organisation had been the subject of ‘unfounded accusations’. The statement continued to state that Cambridge Analytica has been “vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.”

Operations will immediately cease.

App Downloads Will Hit 258 Billion By 2022

App market data specialists App Annie have this week revealed results of its research which has predicted app downloads will increase to 258 billion by 2022. This will mean that consumer app spending would grow 92 per cent to £114 billion with the average spend per device reaching $25.65 (about £19).

An App Annie representative has said:

‘Apps outside of games will capture an increasing share of consumer spend, with subscription revenue contributing to this growth, with industries such as dating, music and video streaming heavily utilising this model on mobile.’

False Metrics Cause Marketers To Pull Google And Facebook Spend

According to a survey by the Chief Marketing Officer Council, 62 per cent of markers have reported false and faulty metrics which has caused them to pull back on spend. Thirty-eight per cent of respondents have started to question advertising rates, whereas 24 per cent have already reduced their spend.

Seventy per cent said they have questioned all of their marketing investments and 21 per cent are reviewing contracts after recent negative press about Facebook and Google. A whopping 95 per cent believed that digital media must deliver more reliability and would call view-ability standards into question.

Almost Half Of UK Businesses Were Cyber Breached In The Last Year

The Cyber Security Breaches Survey 2018 by the Department for Digital, Culture, Media and Sport has revealed that 43 per cent of UK businesses have suffered a breach or attack in the last 12 months. The research also found that the cost of breaches has consistently increased over the past three years, and organisations spend an average of $4,189 per incident in 2017 – almost double the 2016 average.

There were also other financial implications as a result of these breaches. Around a quarter of businesses said they lost money because their staff couldn’t carry out usual duties or had to spend extra time resolving the breach.

 

For more news updates, guides and opinion pieces, take a look at a few more of our articles.