Bazaarvoice
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Press Release
52% are considering moving their budget away from paid advertising efforts to owned and earned content creation, while 30% are already doing so
AUSTIN, Texas, March 7, 2022 – Bazaarvoice, Inc., the leading provider of product reviews and user-generated content (UGC) solutions, today released its latest research, based on a survey of more than 500 budget holders and decision makers from brands, retailers, and agencies. The report explores how brands and retailers are increasingly evaluating their channel mix, especially as recession looms. As businesses focus on maximizing ROI and ROAS (return on advertising spend), optimizing their channel and content mix with a balance of paid and organic will become absolutely business critical.
“We’ve seen that by using UGC in our social media advertising, we’ve been able to reduce our cost per click by 60% whilst driving higher click through rates,” said Alister Dell, Digital Marketing Manager at Hardys Wine.
Global survey highlights include:
“For years, brands have always leaned on paid channels to amplify branded content, tactics, and offers,” said Zarina Lam Stanford, Bazaarvoice CMO. “In fact, more than $700B was spent on paid advertising alone in 2022. Now we are seeing a rebalancing to optimize the marketing mix modeling (MMM) as consumers are yearning for organic content from other shoppers i.e. earned and shared content and channels.”
See more research in Bazaarvoice’s latest e-book.
Research methodology
The research was commissioned by Bazaarvoice and conducted in November 2022 by Savanta among 502 budget holders and decision makers from brands, retailers, and agencies from Australia, Canada, France, Germany, the U.K., and the U.S.
About Bazaarvoice
Thousands of the world’s leading brands and retailers trust Bazaarvoice technology, services, and expertise to drive revenue, extend reach, gain actionable insights, and create loyal advocates. Bazaarvoice’s extensive global retail, social, and search syndication network, product-passionate community, and enterprise-level technology provide the tools brands and retailers need to create smarter shopper experiences across the entire customer journey.
Founded in 2005, Bazaarvoice is headquartered in Austin, Texas, with offices in North America, Europe, and Australia. For more information, visit www.bazaarvoice.com
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Bazaarvoice
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