An omnichannel advertising platform by the name of Mediaocean just put out a report called the 2022 Market Report and 2023 Outlook. This report has revealed that there is an increased emphasis both on social media advertising as well as ads placed next to short form videos such as those found on TikTok as well as YouTube. This report compiled answers from around 600 professionals working in the field, and this can shed some light on what the marketing landscape might look like in 2023.
With all of that having been said and now out of the way, it is important to note that three main trends were noted in this report. 63% of marketing professionals said that they are going to prioritize ad spending on TikTok and other short form video and social media platforms. 54% said that CTV and streaming were important avenues for them to place ads on, and 47% cited ecommerce as providing them some marketing opportunities that they would be looking to explore next year in 2023.
These three trends are definitely going to impact marketing decisions moving forward. With so many consumers starting to utilize ecommerce everywhere, marketers are well placed to start advertising products directly to them. Amazon is likely going to benefit here because of the fact that this is the sort of thing that could potentially end up making it a much more tantalizing advertising platform than might have been the case otherwise.
49% of marketers who responded to this survey said that they plan to improve social channel execution, which would mean working with a larger team of creatives. 52% also recognized that performance metrics were even more important, and that will shift their focus on 2023 with all things having been considered and taken into account.
This report also highlighted some of the major challenges that marketers are going to be facing moving forward. 37% of marketers said that they don’t feel prepared for a cookieless world. The deprecation of third party tracking is resulting in a lot of marketers failing to generate the data they need to provide targeted ads, with increases in consumer privacy creating walled gardens that many advertising executives are finding to be impenetrable.
32% of marketing professionals also stated that they are finding it more difficult to measure the effectiveness of the campaigns that they are implementing. A similar proportion, or 32% to be precise, said that losing access to third party data was hampering their efforts quite a bit.
Another really interesting concern among marketing professionals is the rise of ad blindness. This is where consumers intentionally block out ads or ignore them while scrolling through social media feeds or surfing the web. 29% are concerned about consumer ad avoidance, and that might force them to shift their strategies in the coming year to make their ads more visible and less likely to get skipped over.
With all of that having been said and now out of the way, it is important to note that three main trends were noted in this report. 63% of marketing professionals said that they are going to prioritize ad spending on TikTok and other short form video and social media platforms. 54% said that CTV and streaming were important avenues for them to place ads on, and 47% cited ecommerce as providing them some marketing opportunities that they would be looking to explore next year in 2023.
These three trends are definitely going to impact marketing decisions moving forward. With so many consumers starting to utilize ecommerce everywhere, marketers are well placed to start advertising products directly to them. Amazon is likely going to benefit here because of the fact that this is the sort of thing that could potentially end up making it a much more tantalizing advertising platform than might have been the case otherwise.
49% of marketers who responded to this survey said that they plan to improve social channel execution, which would mean working with a larger team of creatives. 52% also recognized that performance metrics were even more important, and that will shift their focus on 2023 with all things having been considered and taken into account.
This report also highlighted some of the major challenges that marketers are going to be facing moving forward. 37% of marketers said that they don’t feel prepared for a cookieless world. The deprecation of third party tracking is resulting in a lot of marketers failing to generate the data they need to provide targeted ads, with increases in consumer privacy creating walled gardens that many advertising executives are finding to be impenetrable.
32% of marketing professionals also stated that they are finding it more difficult to measure the effectiveness of the campaigns that they are implementing. A similar proportion, or 32% to be precise, said that losing access to third party data was hampering their efforts quite a bit.
Another really interesting concern among marketing professionals is the rise of ad blindness. This is where consumers intentionally block out ads or ignore them while scrolling through social media feeds or surfing the web. 29% are concerned about consumer ad avoidance, and that might force them to shift their strategies in the coming year to make their ads more visible and less likely to get skipped over.
29% also said that they are having some trouble with talent retention. Working with content creators has become ever more important for them, and retaining this talent has become more challenging due to increased demand. It will be interesting to see how the ad industry reacts to these challenges.
Read next: Mobile Ad Growth Rate Predicted to Decline by 7.5% in 2023
Read next: Mobile Ad Growth Rate Predicted to Decline by 7.5% in 2023
