InMobi has released the findings from a Forrester Consulting study “The Future of Mobile Advertising in a Privacy First World.”
The study, commissioned by the mobile advertising technology company, found that two-thirds of Australian and New Zealand businesses are in the early stage of consumer data privacy practice management of maturity, still trying to identify and understand the impact of consumer data privacy developments on their current digital/mobile advertising strategy.
The study also found that 42% of brands and media agencies are struggling to build a culture that values privacy and enforce regulatory compliance internally, while working with insufficient resources, and that 40% of businesses lack executive support for a data stewardship and governance program
Additionally 40% of app 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.
Richard O’Sullivan, VP and GM, ANZ, at InMobi said: “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 technology partners implement privacy by design measures in their offerings, to create positive net effects for both companies and consumers,” he added.
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.
This follows the recent announcement of O’Sullivan’s role as VP and general manager, ANZ expanded to include VP of agency partnerships in Asia Pacific (APAC), in addition to the expanded charters for the local team in Australia and New Zealand (ANZ).
In his expanded role, he will leverage his expertise in forming long-term strategic agency partnerships within ANZ, to help drive deeper and more extensive partnerships across the entire APAC region.