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BizReport : Advertising : July 08, 2020


Mid-year check-in: what marketers need to know

As we begin the second half of 2020 and as more businesses open following the lockdown measures put into place to quell the spread of COVID-19, many are wondering what do they do now? Is this a return to old advertising practices or have certain things changed permanently? We asked a digital expert how marketers should approach a mid-2020 advertising check-in.

by Kristina Knight

First, consider adding CTV to the menu

"CTV advertising is accelerating and we expect this to continue. Advertisers have always known that CTV advertising would provide highly accurate targeting and improved attribution over linear TV. However, many advertisers held back on investments in CTV advertising due to a perceived lack of scale. Before the coronavirus pandemic, the scale available on CTV advertising was already increasing at a rapid pace. That pace has been accelerated by the stay at home requirements of the pandemic, and is now to the point where most advertisers can easily reach their target audience at their desired scale," said Frost Prioleau, CEO, Simpli.fi.

Second, measure for performance

"Upper Funnel Advertising (Awareness Advertising) is often one of the first parts of advertising budgets that are reduced when overall advertising budgets are being evaluated. In our current economic climate, advertisers are under pressure to provide types of advertising that can be measured with demonstrable ROI for ad-spend. Since many advertisers are working with smaller budgets, they're directing their spend towards types of advertising that can deliver granular attribution and reporting capabilities. Accurate conversion attribution, online or offline, will be key," advises Prioleau.

Third, adjust how and when spends are determined for different verticals

"Some regions and cities are rapidly reopening, while others continue to take a more conservative approach. For advertisers, this means that their locations are not reopening in a uniform way across the nation. As reopening plans vary from state to state or city to city, advertisers will need to take this into account as they lay out their strategies and messaging moving forward," said Prioleau. "We expect to see more national campaigns broken up into multiple regional or local campaigns, allowing advertisers to customize timing and messaging of campaigns to regional and local needs. Whether it is restaurants that are only offering delivery in one area or auto dealers that are beginning to open show floors, localized national campaigns provide the agility to optimize audiences to local needs and deliver customized creative for different locations, which will be especially important as the country and economy continues on its path to reopening."

Fourth, focus on precise targeting

"As businesses face tighter budgets, it will be more important than ever that every impression is precisely targeting to the intended audience to reduce waste. Conventional targeting, especially on a national scale, often delivers the same message out across broad segments in multiple regions. In order to eliminate waste and maximize their ROI at a time when every impression counts, advertisers will lean into advertising types that enable precision targeting at scale," said Prioleau.






Tags: advertising, advertising tips, advertising trends, Simpli.fi








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