We’re searching for the most pressing marketing insights this week.



Will COVID-19 Push Contactless Payments Into The Mainstream?

Retail Dive

As consumers get more comfortable shopping online in lockdown, they may be more inclined to use contactless payments after the pandemic ends though the data suggests mixed consumer habits. An early April PYMNTS.com report found that Apple Pay consumer usage peaked in late 2017 but has declined to about 5.1 percent of eligible transactions. Whereas a MasterCard survey found that 51 percent of US consumers are using some type of contactless payments.

Why it matters: As some stores remain closed, it’s difficult to determine where contactless payment adoption is growing. For brands, barriers to adoption include cost, training and reliable internet connectivity. The bottom line: Merchants should move at the same speed as consumers.


Programmatic Ad Spend Increasing: Three Strategies For Marketers During COVID-19 Recovery

Chief Marketer

As some parts of the country reopen, Peer39 CEO Mario Diez suggests the post-pandemic playbook will require marketers to pay attention to contingency planning, creative messaging and regional sentiment.

Why it matters: Given the suddenness of the pandemic, every media buy must now be executed with a clear backup plan in place, creative must be respectful of the different attitudes around COVID-19 and brands must layer in geographic data to their ad buys to ensure they understand varying regional sentiments while different parts of the country reopen. 


How Diverse Is Your Board, Really?

Harvard Business Review

In a study of the effects of cognitive diversity on board performance among eight underperforming companies, Harvard Business Review found that cognitively diverse directors helped expand the board’s understanding of the company’s strategic and operating issues and were more likely to ask tough questions and challenge management’s proposals. Identifying directors who can introduce new views and perspectives can also improve board decision-making. But for a board to benefit from this diversity, it must possess a culture that values diverse perspectives.

Why it matters: Companies interested in diversifying their boards should recruit demographically diverse director candidates who have strong business backgrounds and have experience in areas that meet the company’s current and anticipated needs; have in-depth discussions with the candidate about their background and life experiences; and involve multiple directors in the interview process, in a variety of settings, to get an accurate read of the candidate.


Apple Commits $100 Million To Racial Equity Initiative, Boosting Black Partners

Venture Beat

Apple CEO Tim Cook announced Apple would dedicate $100 million toward supporting black developers with a new developer entrepreneurial camp, boost spending with black-owned partner companies, form a partnership with the Equal Justice Initiative and diversify its supply chain and workforce. Apple’s vice president of environment, policy and social initiatives, Lisa Jackson, will lead the racial justice program.

Why it matters: Apple has a ways to go in achieving diversity, as just 24 percent of its workforce is made up of underrepresented minorities.


Sephora Commits To Stocking More Black-Owned Brands

Adweek

Sephora currently carries just seven black-owned beauty brands, however, the beauty giant says it will offer a concrete plan for bringing the number up to 15 percent, as well as connect black entrepreneurs with venture capital and launch support. Additionally, it will refocus its small incubator program to highlight women entrepreneurs of color.

Why it matters: Sephora’s move is in response to a campaign fashion designer Aurora James launched this month called 15 Percent Pledge, which calls on major lifestyle retailers to make their supply chains comprise 15 percent black-owned businesses.


51% Of Marketing Professionals Expect Virtual Events To Stick Around, Survey Finds

Marketing Dive

A little over half (51 percent) of marketers believe live gatherings will feature some kind of virtual element after the pandemic, according to a new survey from The 614 Group, conducted from April 16 to May 13. Sixty-four percent of respondents see virtual events as a “way to meet new business prospects and generate leads” whereas 56 percent view live events as an opportunity to “spend quality time with current clients.”

Why it matters: Teleworking could either stymie the marketing business that’s reliant on in-person meetings or produce novel ways to forge connections.


Mini’s Marketing Chief On The Dive Into TikTok Advertising

CMO

Mini launched a TikTok campaign in May to promote its inaugural Mini Electric Hatch First Edition in Australia after having to dial down other channels like cinema and out-of-home amid the pandemic. The 15-second video enables viewers to experience the Mini website, configure a car and make a refundable deposit.

Why it matters: As per Mini’s head of marketing Alex McLean: “We really didn’t have much to base decisions on with regards to performance. Our position was to build our brand learnings so we can make greater decisions for campaigns down the track. We have another model arriving later this year, for example, and we can evaluate TikTok’s role in that mix based on insights from how we’ve performed with this electric product test.” 


There Are No Easy Answers For Our Biggest Global Problems

Harvard Business Review

Asking brands to be part of the solution to solve major global problems like poverty and climate change will not achieve social stability or environmental balance.

Why it matters: The pandemic is a reminder that the desire for easy solutions can be harmful if it preempts the implementation of dull but proven ones.


Refinery29 Founder Christene Barberich Steps Down As Editor-In-Chief In Response To Accusations Of Racism And Toxic Company Culture

Fashionista

Co-founder and global editor-in-chief of Refinery29 Christene Barberich has resigned after Refinery29 blacked out its homepage on June 2 for Blackout Tuesday, spurring some of its former black employees to speak out about pay disparities and a toxic company culture.

Why it matters: Barberich wrote: ”I will be stepping aside in my role at R29 to help diversify our leadership in editorial and ensure this brand and the people it touches can spark a new defining chapter. It’s time for a new generation of leadership that’s truly reflective of the diversity of our audience with divergent points of view.”


Virtually Perfect: Will Lockdown Lead To An Explosion In Agencies Without An Office?

The Drum

Pre-COVID, full-service virtual ad agencies were on the rise though they never really got any traction. Teleworking has forced the ad industry to adapt to virtually serving clients, making now an opportune moment to champion a new way of working.

Why it matters: While some see the office as a hotbed for agency culture to thrive, others believe that working remotely could give the industry a chance to retune its cultural norms.