As our country slowly returns to “normal,” advertisers are beginning to evaluate the way they handled their campaigns during the heart of the pandemic. Several trends have appeared that are paving the way to determine new plans for the future. Nielsen just recently came out with its annual marketing report, highlighting these trends and making recommendations for the future. Access the full report here.
Following are some highlights from that report.
First, one of the biggest mistakes many advertisers make when any kind of challenging situation arises is to pull back and either cut or eliminate advertising. This is a major mistake and can actually take a long time for a business to recover its level of sales, putting long-term revenue at risk, even as much as 11% decrease in one year.
When marketing stops, it reduces top-of-mind awareness for your organization and you will lose existing customers. When budgets are limited, the recommendation is to focus on engaging existing customers in the short-term.
Another insight from the report: it’s time to re-think an omni-channel approach to advertising. Here are some things to consider: marketing strategies should be seamless across all touchpoints; owned and earned media play an important role in customer experience; and although more spending is moving toward digital, be aware there is less certainty of measurement capabilities.
The report also pointed out that connected television (CTV) and addressable advertising are growing. There are now an incredible variety of streaming services available, many that are advertisement-supported. And, in addition to these options, addressable advertising is also becoming more available with linear television.
We know with cookies going away, that first-party data will increase in significance. But more must be done. Brands must develop and maintain meaningful relationships with their consumer base. And data collection has typically been at point of sale; now new opportunities must be exploited along the entire journey of a consumer with your brand.
The conclusion: no matter the size of your marketing company or budget, there are ways to creatively leverage your assets to be able to continue to reach and grow your audience.
Let Infinity Concepts help you make the most of your advertising dollars.
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