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Accelerated Shift to Digital, Hispanic Streaming Audiences, & More | Weekly Marketing News
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Written by Frankie Karrer
There was a lot to cover in digital marketing news this week, from articles on the pandemic-accelerated shift to digital marketing, to new audience trends on streaming platforms. To make it easier for you to keep on top of the most useful stories, we compiled a list of the most interesting headlines from this week.
In digital marketing news, a new study from Amplitude, conducted by Harvard Business Review Analytic Services, has found that most brands agree that the pandemic accelerated their use of digital marketing. In their survey, they discovered that 97% of the global business executives polled agree that COVID-19 sped up their migration into digital, and 92% say this represents an opportunity to capitalize on the shift. However, many of these brands find themselves held back by their lack of data-driven strategies and products –– 40% stating that their inability to analyze customer data across devices and platforms is holding them back. Ultimately, companies who are looking to fully make use of the advantages available through digital marketing will need to adapt their strategies to become more data-centric.
And in Connected TV news, Univision just announced that they will be acquiring Spanish-language ad-supported streaming service Vix. This is part of a larger push by many advertisers to include Hispanic streamers into their Connected TV marketing strategies. According to Adweek, the Hispanic market makes up 20% of the U.S. population, and is one of the youngest demographics with a buying power that has been estimated to reach $2.3 trillion by 2024. Hispanic viewers have also been a large part of the growth of streaming during the pandemic, with Nielson finding 70% increased the amount of time they spent watching movies and TV shows through streaming services during this time period. By targeting Hispanic audiences directly instead of grouping them into larger categories, brands can take advantage of this younger demographic that is growing quickly.
Here are the rest of the marketing headlines that caught our attention this week.
Pandemic Accelerated Shift To Digital, And Nobody Is Going Back – Of 295 global business executives polled, 97% agree that COVID-19 sped up their migration into digital. And 92% say this represents an opportunity to capitalize on the shift.
Corporate Political Donations Slow: Whither The 2022 Midterm Ads? – Worried about continued political ads clogging your airwaves, news feed and social-media platforms? There may be less to come, possibly a sharp departure from ongoing record results in recent years.
What Digital Advertising Gets Wrong – Digital ads can look way more effective than they are because they’re sold on the number of people who buy after clicking on them. You can reduce the amount you spend on ads and get more sales if they’re targeted at people who aren’t already your customers.
Marketers Should Use Modeling to Compress Large Data into Small Answers – Let’s just say it: Most people don’t like to get involved with analytics. Analysts must deliver answers to questions, not mounds of data. Data modeling is the best way to compress large and complex data into concise answers to questions.
CONNECTED TV & STREAMING
Virtual Streaming TV/Video Apps Add Old-Style Linear TV Content – Virtual streaming TV and app providers keep adding new live, linear TV networks and programming.
Streamers Set Eyes on Next Big Task: Winning Over the Fast-Growing Hispanic Market – In 2020, major media companies including Fox Corp. and Comcast rushed to acquire ad-supported streaming services so they could build out their over-the-top footprints and win over consumers. A year later, Spanish-language broadcaster Univision is following suit.
Among performance marketers, CTV is a growing priority | Sponsored Content – Record numbers of advertisers have gravitated toward connected TV (CTV) in the past year. But among the rapid rise in adoption, an interesting trend has emerged—a growing number of brands and agencies are using CTV as a direct-response performance channel.
YouTube Reveals Product Roadmap For 2021, From Commerce To TV – Tests are underway at YouTube to integrate shopping experiences that allow viewers to tap into the credibility and knowledge of creators they trust before making informed purchases directly.
The Trade Desk sees record spending as marketers leap to CTV – TTD saw gross spending on its platforms rise 34% year-on-year to $4.2 billion in 2020, a new record driven by marketers’ growing interest in data-driven marketing channels, according to earnings results.
2021 mobile marketing predictions – The Covid-19 pandemic accelerated the digital transformation. Many companies turned to mobile messaging to embrace these changes, and MobileMarketing Magazine believes messaging will continue to support market trends in 2021.
Will Snapchat Spotlight Last Beyond Million-Dollar Payouts? – Snap is tasked with figuring out how to keep users and creators on Spotlight long term while staying true to the platform’s long-held value proposition of personal, more private communication.
Will Brands Start Monetizing Their Social Media Content? – Rebecca Minkoff’s debut on OnlyFans during New York Fashion Week raises the prospect of subscription marketing.
ByteDance scraps Oracle, Walmart TikTok US deal – TikTok’s owner ByteDance has reportedly scrapped a deal to sell its US business to a combination of Oracle and Walmart, deciding there is no longer a need to offload its US operations with Donald Trump no longer US President.
WE’LL KEEP YOU UP-TO-DATE
That’s it for the roundup this week, next week we’ll be back with another list of what’s making news in marketing.
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