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Local Advertising, The CTV Knowledge Gap, & More | Weekly Marketing News
Too Busy to Keep Up with the Latest Marketing News? We’ve Got You Covered.
This week there have been a lot of articles in the world of marketing to keep track of. But don’t worry – we’ve got you covered. Here’s some of the top news making headlines this week.
In digital marketing news, Adweek covered some of the trends that will change the way marketing is conducted in the upcoming year. The first of these is digitization & diversification, which was caused by the widespread cuts to ad budgets earlier in 2020. In order to stay flexible, many marketing teams looked into new channels, especially when it came to digital marketing, which is expected to account for 51% of ad spending this year. Adweek also recommends that marketers pay special attention to the platforms and features that had the biggest impact this year as consumers sought out new ways to connect with friends and family through virtual avenues.
Also in digital marketing news, Ad Age reports that things are looking up for local advertising next year, despite the hard hits this industry took due to the economy in 2020. According to Ad Age, local advertising revenue is expected to see a year-over-year growth of 2.5%, rising to $137.5 billion. And this is without the political ad dollars that helped local advertising this year. With the lower cost, targeting capabilities, and flexibility of digital advertising making it easier than ever for businesses to get their message out to their communities, it’s no wonder that there is an increased interest in local advertising for marketers planning their ad budgets for the upcoming year.
And in the world of Connected TV marketing, many sources are tracking how the success of this channel in 2020 will carry over into next year. With the unexpected pandemic and economic uncertainty, many brands are shifting away from the upfront buying model. For example, Ad Age reports that Procter & Gamble decided that they would no longer be taking part in the annual event. This may come as no surprise to those tracking the decline of linear TV – Adweek found that CTV advertising platforms perform better than linear across many key indicators. Ad-supported CTV users are also 71% more likely to tell a friend about a brand and 53% more likely to search for a brand after seeing an ad than their linear counterparts. However, Adweek found that marketers are still dragging their feet when it comes to adding CTV ad spend to their media budgets for the upcoming year. And according to Videonet, this is likely due to a significant knowledge gap that sometimes overshadows the optimism surrounding CTV success. Videonet found that there are key discrepancies in understanding the objectives and benefits of CTV, especially for brand advertisers and agencies. They recommend that pushing for a greater understanding of the many advertising solutions available through this platform will be the best way for Connected TV to reach its full potential in the upcoming year and beyond.
3 Digital Marketing Trends to Come in 2021 – With 2020 almost in the rearview mirror, is it wise to predict what next year holds? I think it’s worth a shot! Here are three big industry predictions, based on all that went down this year and overall trends we’re already seeing.
From The Experts: Media And Advertising In 2021 – By all accounts 2020 was a miserable year. A global pandemic led to an economic recession impacting the ad marketplace, stay-at-home orders closed retail stores, and more. Forbes asked some experts what else could happen in 2021.
The Fork in the Road: What’s Next for My Direct Marketing Strategy – Brand recall, trust, and retention is higher when your message is visible and cohesive across multiple channels. So when you find your digital channels approaching their customer acquisition ceiling, you know it is time to diversify your direct marketing strategy.
Local advertising will rebound steadily in 2021, new report predicts – Direct mail will have the lion’s share of local spend, while OTT and Connected TV may prove to be game-changers next year, BIA Advisory Services forecasts.
CONNECTED TV & STREAMING
How Connected TV and OTT Are Helping Marketers Reach a Wider Audience – With companies like Hulu and Amazon producing their own highly popular shows while offering cord-cutters new ways to experience television, CTV and OTT are creating new opportunities for brands looking to add to their multichannel advertising portfolios.
Why brands like Cadillac are driving toward CTV – At Ad Age Next, Cadillac says data-driven marketing on The Trade Desk’s platform has allowed it to be “very flexible and nimble in these uncertain times.”
Is CTV really the future of video? – Viewing of video content across devices is rising rapidly, and the role that consumer insight can play in helping marketers to harness CTV’s strengths for their brands is becoming crucial.
Tackling the knowledge gap will accelerate Advanced TV advertising – Advanced TV is currently providing a much needed bright spot in an uncertain marketing landscape, but while this high level of optimism around CTV advertising is encouraging, the research also highlights a significant knowledge gap.
25 Predictions for Social Media Marketing in 2021 – 2020 is a year that many would rather forget, and in amongst all this, the major social platforms have also rapidly evolved and shifted focus in order to meet rising demand and user needs during the pandemic.
How brands can leverage mobile apps to drive additional revenue – With consumers spending an increasingly large amount of time on their mobiles during the pandemic, savvy marketers are wising up to the potential of in-app monetisation and mobile advertising as the lucrative channel continues to drive additional revenue for brands.
Four key mobile engagement campaigns for a successful holiday season – The holiday shopping season is here and there’s no doubt that this holiday season will be quite unpredictable and challenging. Here are four key eCommerce mobile engagement campaigns that every business can run to ensure a successful holiday season.
Mobile Marketer of the Year: Chipotle – As the scale of the coronavirus pandemic first came into focus in March, Chipotle Mexican Grill decided to blow up the company’s media plan to meet the new reality.
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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