By Anna Minton
As we settle into 2023, there are many organizations are looking to drive performance while making every single dollar count. In this economic environment, we are likely to see a trend towards more measurable advertising, where advertisers want to see a clear return on their investment. This is a trend that we have seen in recent years, but it is likely to become even more prevalent in the year to come.
One of the key drivers of this trend is the pandemic, which has had a significant impact on the economy. During the pandemic, many businesses had to cut their advertising budgets, and the dollars that remained were focused on performance-type advertising. This is because advertisers wanted to ensure that their paid media spend was driving measurable, incremental performance. As we move into another tight economic time, we are likely to see this trend continue, with organizations becoming even more focused on ensuring that their advertising is driving the desired results.
Another trend that we are seeing in 2023 is the increased focus on addressable advertising. Addressable advertising is a form of advertising that allows advertisers to precisely target their audience and measure the return on their investment. This type of advertising is particularly attractive to organizations in a tight economic environment, as it allows them to get the most out of their advertising budget.
One of the key developments in addressable advertising in recent years has been the growth of Connected TV (CTV). CTV has been growing rapidly in recent years, with the pandemic acting as a catalyst for this growth. As people were stuck at home, they started watching more streaming TV, which caught the attention of many advertisers. This has led to a significant increase in the amount of CTV inventory available, making it more attractive to advertisers.
One of the most significant developments in CTV in recent years has been the introduction of advertising-supported tiers by streaming services like Netflix and Disney+. This is a high-profile, premium inventory that is attracting the attention of more linear TV buyers. In the past, some linear TV buyers may have viewed CTV as a niche, but with the introduction of these new inventory options, we are likely to see an even more rapid shift in focus to CTV in 2023.
As we move into the year, we can expect to see organizations of all sizes becoming more focused on performance-based advertising, and ensuring that paid media drives measurable, incremental performance. The tight economic environment will continue to drive this trend, with addressable advertising and CTV being particularly attractive options for organizations looking to maximize their advertising budgets. All of these new trends play an important part in making sure your organization is taking advantage of all your new digital opportunities.
March 6, 2023
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