In the midst of this COVID-19 pandemic, television content is being consumed more now than ever before. From streaming YouTube workouts to binge-watching new shows on Hulu, or staying glued to the news—home-bound consumers can now access more video content than ever before, and at any time of day. With content that’s so readily available, consumers are no longer confined to watching shows, the news, or other programs at scheduled times.
With the steady decline in the stock market and general uncertainty of what’s to come, many marketers are slowing down their advertising spend. But is this the best option when people are staying home with digital connections taking the place of face-to-face interactions? And as consumer behavior is changing, what effect is this having on performance and programmatic marketing? 48% of advertisers have adjusted media type usage or shifted budget among media types instead of halting advertising spend. Rather than completely cutting advertising budgets, marketers should consider different avenues for reaching their target customers. Just look at the data from 2008: brands that kept their advertising steady and remained strong in 2008 recovered 9x faster during the global financial crisis.
Q1 of 2020 has taken a turn we never expected. Companies around the world are cancelling and postponing concerts, festivals, and conferences and implementing mandatory work from home days, while universities are closing schools and moving in-person classes online. Traditional retail marketers are seeing declining revenues and categories from travel to restaurants and education are seeing unexpected contraction. As we wait for the dust to settle, what can marketers do in these uncertain times to keep business running in a semi-normal capacity and offset losses within their existing revenue models?
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2019 was a year of change for the digital marketing industry. Facebook and Google continue to dominate the advertising industry regardless of whatever scandals come their way. Meanwhile, new channels such as CTV continue to grow in popularity (now reaching over 60% of the US population) and ad share ($14.12 billion expected in CTV ad spend by 2023), as the number of cord cutters grows. But what is in store for 2020? Here are 5 predictions for how digital marketing will evolve this year.
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Television content is being consumed in more places now than ever before. From streaming YouTube on their smartphones to watching their favorite shows on Hulu using a laptop, consumers can now access video content wherever and whenever they want. With video content that’s so readily available, consumers are no longer confined to watching shows, the news, or other programs at scheduled times on televisions at home.
Consumers are spending increasingly more time online, making digital marketing a powerful tool for companies of all sizes. While digital advertising is a great way to reach consumers, it’s important that you are able to target the most highly engaged and interested audiences. For your online advertising campaign to succeed, you need to match ads to the right audiences on the right platforms—at the right time. Doing so manually can be time-consuming and difficult to complete with accuracy.
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Marketer inclusion of connected television into their media mixes is a curious tale. Gone are the days when campaigns can afford to waste countless impressions on the wrong audiences. Strained by an ever-increasing demand to drive measurable results for the businesses they represent, most marketers have flocked to highly targeted and measurable channels.
The television remains the most prominent and influential screen in the home, and TV advertising is about to get a lot more sophisticated. If you have not explored Programmatic TV, here are three reasons why now is the time to do it.